SIXD vs. MMAX

Last updated Jun 4, 2026

SIXD (AllianzIM U.S. Equity 6 Month Buffer10 Jun/Dec ETF) and MMAX (iShares Large Cap Max Buffer Mar ETF) are both Defined Outcome funds. Both are actively managed. A 0.65 correlation means they provide meaningful diversification when combined. SIXD charges 0.74%/yr vs 0.50%/yr for MMAX.

Performance

SIXD vs. MMAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Equity 6 Month Buffer10 Jun/Dec ETF (SIXD) and iShares Large Cap Max Buffer Mar ETF (MMAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SIXD achieves a 6.99% return, which is significantly higher than MMAX's 3.09% return.

SIXD

• 1D: -0.19%
• 1M: 2.79%
• YTD: 6.99%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MMAX

• 1D: -0.13%
• 1M: 0.60%
• YTD: 3.09%
• 6M: 3.75%
• 1Y: 7.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SIXD vs. MMAX - Yearly Performance Comparison

	2026 (YTD)	2025
SIXD AllianzIM U.S. Equity 6 Month Buffer10 Jun/Dec ETF	6.99%	-0.18%
MMAX iShares Large Cap Max Buffer Mar ETF	3.09%	0.17%

Correlation

The correlation between SIXD and MMAX is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 23, 2025	0.65

Return for Risk

SIXD vs. MMAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MMAX

MMAX Risk / Return Rank: 99
MMAX Sharpe Ratio Rank: 98
MMAX Sortino Ratio Rank: 99
MMAX Omega Ratio Rank: 99
MMAX Calmar Ratio Rank: 99
MMAX Martin Ratio Rank: 99

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SIXD vs. MMAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Equity 6 Month Buffer10 Jun/Dec ETF (SIXD) and iShares Large Cap Max Buffer Mar ETF (MMAX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	SIXD	MMAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	5.52	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.20	3.13	-0.93

Drawdowns

SIXD vs. MMAX - Drawdown Comparison

The maximum SIXD drawdown since its inception was -4.69%, which is greater than MMAX's maximum drawdown of -1.93%. Use the drawdown chart below to compare losses from any high point for SIXD and MMAX.

Drawdown Indicators

	SIXD	MMAX	Difference
Max Drawdown Largest peak-to-trough decline	-4.69%	-1.93%	-2.76%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.34%	—
Current Drawdown Current decline from peak	-0.19%	-0.13%	-0.06%
Average Drawdown Average peak-to-trough decline	-0.78%	-0.10%	-0.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.07%	—

Volatility

Volatility by Period

	SIXD	MMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.36%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.96%	—
Volatility (1Y) Calculated over the trailing 1-year period	7.36%	1.39%	+5.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.36%	2.49%	+4.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.36%	2.49%	+4.87%

SIXD vs. MMAX - Expense Ratio Comparison

SIXD has a 0.74% expense ratio, which is higher than MMAX's 0.50% expense ratio.

Dividends

SIXD vs. MMAX - Dividend Comparison

SIXD has not paid dividends to shareholders, while MMAX's dividend yield for the trailing twelve months is around 1.27%.

Position	TTM	2025
MMAX iShares Large Cap Max Buffer Mar ETF	1.27%	1.31%
SIXD AllianzIM U.S. Equity 6 Month Buffer10 Jun/Dec ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both SIXD and MMAX in my portfolio?

SIXD and MMAX have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SIXD or MMAX?

On fees, MMAX is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SIXD or MMAX?

MMAX is cheaper with a 0.50% expense ratio, compared with 0.74% for SIXD.

Which ETF pays a higher dividend yield, SIXD or MMAX?

MMAX has the higher dividend yield at 1.27%, compared with 0.00% for SIXD.

What is the main difference between SIXD and MMAX?

They also come from different issuers: Allianz and iShares. Their fees differ too: 0.74% for SIXD and 0.50% for MMAX.