SMAX vs. HYLD

Last updated Apr 2, 2026

Compare and contrast key facts about iShares Large Cap Max Buffer Sep ETF (SMAX) and High Yield ETF (HYLD).

SMAX and HYLD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SMAX is an actively managed fund by iShares. It was launched on Sep 30, 2024. HYLD is an actively managed fund by Eve Capital. It was launched on Nov 30, 2010.

Performance

SMAX vs. HYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Large Cap Max Buffer Sep ETF (SMAX) and High Yield ETF (HYLD). The values are adjusted to include any dividend payments, if applicable.

SMAX vs. HYLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SMAX iShares Large Cap Max Buffer Sep ETF	-0.28%	8.01%	1.02%
HYLD High Yield ETF	0.00%	0.00%	0.00%

Returns By Period

SMAX

• 1D: 0.22%
• 1M: -0.88%
• YTD: -0.28%
• 6M: 1.09%
• 1Y: 8.27%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HYLD

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SMAX vs. HYLD - Expense Ratio Comparison

SMAX has a 0.50% expense ratio, which is lower than HYLD's 1.29% expense ratio.

HYLD

High Yield ETF

SMAX

iShares Large Cap Max Buffer Sep ETF

Return for Risk

SMAX vs. HYLD — Risk / Return Rank

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

SMAX

SMAX Risk / Return Rank: 94
SMAX Sharpe Ratio Rank: 92
SMAX Sortino Ratio Rank: 96
SMAX Omega Ratio Rank: 96
SMAX Calmar Ratio Rank: 93
SMAX Martin Ratio Rank: 95

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.

SMAX vs. HYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Large Cap Max Buffer Sep ETF (SMAX) and High Yield ETF (HYLD). 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.

	SMAX	HYLD	Difference
Sharpe ratio Return per unit of total volatility	2.17	—	—
Sortino ratio Return per unit of downside risk	3.29	—	—
Omega ratio Gain probability vs. loss probability	1.50	—	—
Calmar ratio Return relative to maximum drawdown	3.70	—	—
Martin ratio Return relative to average drawdown	17.21	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	SMAX	HYLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.17	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.54	—	—

Dividends

SMAX vs. HYLD - Dividend Comparison

SMAX's dividend yield for the trailing twelve months is around 0.98%, while HYLD has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SMAX iShares Large Cap Max Buffer Sep ETF	0.98%	0.98%	0.27%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HYLD High Yield ETF	0.00%	0.00%	0.00%	4.67%	7.86%	6.45%	7.52%	7.46%	7.97%	7.18%	6.59%	10.87%

Drawdowns

Drawdown Indicators

	SMAX	HYLD	Difference
Max Drawdown Largest peak-to-trough decline	-3.90%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-2.27%	—	—
Current Drawdown Current decline from peak	-0.99%	—	—
Average Drawdown Average peak-to-trough decline	-0.44%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	0.49%	—	—

Volatility

Volatility by Period

	SMAX	HYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.31%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.15%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.82%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.80%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.80%	—	—