XTR vs. MAXJ
XTR (Global X S&P 500 Tail Risk ETF) and MAXJ (iShares Large Cap Max Buffer Jun ETF) are both Equity Hedged funds. XTR is passively managed, while MAXJ is actively managed. Over the past year, XTR returned 22.85% vs 9.25% for MAXJ. Their correlation of 0.84 suggests significant overlap in exposure. XTR charges 0.25%/yr vs 0.50%/yr for MAXJ.
Performance
XTR vs. MAXJ - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, XTR achieves a 8.67% return, which is significantly higher than MAXJ's 2.88% return.
XTR
- 1D
- -0.65%
- 1M
- 5.03%
- YTD
- 8.67%
- 6M
- 8.51%
- 1Y
- 22.85%
- 3Y*
- 18.55%
- 5Y*
- —
- 10Y*
- —
MAXJ
- 1D
- 0.03%
- 1M
- 0.82%
- YTD
- 2.88%
- 6M
- 3.34%
- 1Y
- 9.25%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XTR vs. MAXJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
XTR Global X S&P 500 Tail Risk ETF | 8.67% | 13.66% | 6.59% |
MAXJ iShares Large Cap Max Buffer Jun ETF | 2.88% | 8.97% | 4.55% |
Correlation
The correlation between XTR and MAXJ is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Jul 2, 2024 | 0.84 |
The correlation between XTR and MAXJ has been stable across timeframes, ranging from 0.79 to 0.84 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
XTR vs. MAXJ — Risk / Return Rank
XTR
MAXJ
XTR vs. MAXJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X S&P 500 Tail Risk ETF (XTR) and iShares Large Cap Max Buffer Jun ETF (MAXJ). 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.
| XTR | MAXJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.06 | ||
| Sortino ratioReturn per unit of downside risk | -2.27 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.76 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | 2.70 | 5.45 | -2.75 |
| Martin ratioReturn relative to average drawdown | 11.51 | 30.88 | -19.36 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| XTR | MAXJ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.14 | 3.19 | -1.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.72 | 1.64 | -0.92 |
Drawdowns
XTR vs. MAXJ - Drawdown Comparison
The maximum XTR drawdown since its inception was -20.83%, which is greater than MAXJ's maximum drawdown of -6.35%. Use the drawdown chart below to compare losses from any high point for XTR and MAXJ.
Loading charts...
Drawdown Indicators
| XTR | MAXJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.83% | -6.35% | -14.48% |
Max Drawdown (1Y)Largest decline over 1 year | -8.51% | -1.70% | -6.81% |
Max Drawdown (3Y)Largest decline over 3 years | -14.35% | — | — |
Current DrawdownCurrent decline from peak | -0.65% | 0.00% | -0.65% |
Average DrawdownAverage peak-to-trough decline | -5.95% | -0.56% | -5.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.99% | 0.30% | +1.69% |
Volatility
XTR vs. MAXJ - Volatility Comparison
Global X S&P 500 Tail Risk ETF (XTR) has a higher volatility of 2.99% compared to iShares Large Cap Max Buffer Jun ETF (MAXJ) at 0.30%. This indicates that XTR's price experiences larger fluctuations and is considered to be riskier than MAXJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| XTR | MAXJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.99% | 0.30% | +2.69% |
Volatility (6M)Calculated over the trailing 6-month period | 8.16% | 1.93% | +6.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.76% | 2.93% | +7.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.78% | 5.28% | +8.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.78% | 5.28% | +8.50% |
XTR vs. MAXJ - Expense Ratio Comparison
XTR has a 0.25% expense ratio, which is lower than MAXJ's 0.50% expense ratio.
Dividends
XTR vs. MAXJ - Dividend Comparison
XTR's dividend yield for the trailing twelve months is around 16.40%, more than MAXJ's 0.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
MAXJ iShares Large Cap Max Buffer Jun ETF | 0.98% | 1.01% | 0.81% | 0.00% | 0.00% | 0.00% |
XTR Global X S&P 500 Tail Risk ETF | 16.40% | 17.82% | 20.89% | 1.09% | 1.08% | 2.32% |
Frequently Asked Questions
XTR and MAXJ have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XTR has higher volatility (2.99%) compared to MAXJ (0.30%). In terms of maximum drawdown, XTR dropped -20.83% vs MAXJ's -6.35%.
On 1-year performance, XTR leads with 22.85% vs 9.25% for MAXJ. On fees, XTR is cheaper at 0.25% per year. On volatility, MAXJ has been the lower-risk option at 0.30%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, XTR has performed better with a 22.85% return vs 9.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XTR is cheaper with a 0.25% expense ratio, compared with 0.50% for MAXJ.
XTR has the higher dividend yield at 16.40%, compared with 0.98% for MAXJ.
They also come from different issuers: Global X and iShares. Their fees differ too: 0.25% for XTR and 0.50% for MAXJ.
MAXJ currently has the higher Sharpe Ratio (3.19 vs 2.14), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for XTR and MAXJ
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer