MMAX ETF — iShares Large Cap Max Buffer Mar ETF

iShares Large Cap Max Buffer Mar ETF (MMAX)

Updated October 16, 2026.

MMAX is an ETF. its trailing-12-month yield is 1.25%, its expense ratio is 0.50%. Dividend Vision Distribution Safety Score™ is 50/100 (Unproven). Total return is 10.9% over the past 1.5 years, 27.4 points behind SPY at 38.3%.

This ETF invests at least 80% of its assets in large-capitalization company securities or instruments that provide approximate downside buffer protection on large-cap stocks. The fund has a modest current distribution rate and makes annual distributions; note that the latest distribution was special and may not recur regularly. With a 0.50% expense ratio, this ETF appeals to equity investors seeking large-cap exposure with built-in downside protection features.

MMAX performance versus SPY

Price and return data through 2026-10-16.

Total return is 10.9% over the past 1.5 years, 27.4 points behind SPY at 38.3%. Over the past year its total return — price change plus distributions reinvested — is 6.4%. Its deepest 1-year drawdown was 0.5%.

MMAX key facts

Distribution Safety Score™

50 · Unproven

Issuer

iShares

Asset type

ETF

Asset class

Equity

Inception date

03/31/2025

Expense ratio

0.50%

Distribution frequency

Annual

Trailing yield

1.25%

Last close

$27.53 (as of 2026-10-16)

AUM

$73,813,202

Average volume

398.0

Dividend

$0.345

Ex-dividend date

12/23/2025

Payment date

12/29/2025

Beta

0.0779

How Dividend Vision calculates yield and returns

Distribution rate (the posted rate) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (1.25%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: iShares; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

MMAX risks and drawbacks

Payments are annual, so cash flow is lumpy versus a monthly fund. Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 0.5%.

Who may consider MMAX — and who may not

It is a weaker fit for investors who need monthly cash flow (MMAX pays annual); investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on MMAX

• All tickers starting with M

Tagged: Downside Protection, Options, Target, Large Cap.

Frequently asked questions

More securities from iShares.