DMAX vs IVV
iShares Large Cap Max Buffer Dec ETF vs iShares Core S&P 500 ETF
Which is better, DMAX or IVV?
IVV has been ahead.
IVV has a lower expense ratio. IVV led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.93.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | DMAX | IVV |
|---|---|---|
| Expense Ratio | 0.50% | 0.03%Best |
| AUM | $136M | $876.4B |
| Dividend Yield | 0.87% | 1.06% |
| Holdings | 7 | 508 |
| YTD Return | +3.94% | +12.39%Best |
| 1Y Return | +5.18% | +16.61%Best |
| 3Y Return (annualized) | - | +21.38% |
| 5Y Return (annualized) | - | +13.51% |
| Volatility (annualized) | 2.6%Best | 12.9% |
| Max Drawdown | -3.4%Best | -18.8% |
| $10,000 over 1.7 years | $11,073 | $13,278Best |
| Fund Family | iShares by BlackRock (US) | iShares by BlackRock (US) |
| Category | Alternative | Equity |
| Style | - | Large Cap Blend |
| Inception | Dec 31, 2024 | May 15, 2000 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.7 years row, are measured over the window both funds cover: Jan 2, 2025 to Sep 18, 2026 (1.7 years).
DMAX vs IVV growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 1.7 years both funds cover.
DMAX vs IVV Performance
iShares Large Cap Max Buffer Dec ETF (DMAX) is an ETF from iShares by BlackRock (US) and iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US). Over the past year DMAX returned +5.18% while IVV returned +16.61%. Year to date, DMAX is up 3.94% versus a gain of 12.39% for IVV.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 12.9% compared with 2.6% for DMAX. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -3.4% for DMAX and -18.8% for IVV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.93. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
DMAX charges 0.50% per year while IVV charges 0.03%. On a $10,000 position that is $50 vs $3 annually, a gap of $47 per year that compounds over a long holding period. On income, DMAX currently yields 0.87% against 1.06% for IVV.
Holdings Overlap
At least 0.1% of IVV's money is in holdings DMAX also owns.
Only one direction is shown: for DMAX, our book for it lists positions totalling 107.0% of the fund, which is what a leveraged book looks like and is not a denominator we can divide by.
We cannot see either book well enough to say how much of this pair is duplicated.
1 positions in common, counted across the 3 positions we hold weights for in DMAX and 490 in IVV, against full books of 7 and 508.
Top Shared Holdings
| Stock | Weight in DMAX | Weight in IVV | Difference |
|---|---|---|---|
| XTSLABlackrock Cash Funds: Treasury, Sl Agency Shares | 0.66% | 0.15% | 0.51% |
You are not choosing between two funds in isolation.
Whichever of DMAX and IVV you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, DMAX or IVV?
DMAX has an expense ratio of 0.50% while IVV charges 0.03%. IVV is the cheaper option, by $47 a year on a $10,000 investment.
Which performed better, DMAX or IVV?
Over the past year DMAX returned +5.18% vs +16.61% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (2 years), DMAX annualized +6.18% vs +18.15% for IVV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DMAX or IVV?
IVV has been the more volatile fund at 12.9% annualized versus 2.6% for DMAX. Worst drawdown: DMAX -3.4% vs IVV -18.8%.
Should I hold both DMAX and IVV?
DMAX and IVV have a monthly-return correlation of 0.93, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
Which pays a higher dividend, DMAX or IVV?
DMAX yields 0.87% while IVV yields 1.06%, so IVV currently pays the higher dividend yield.
Is IVV better than DMAX?
IVV has a lower expense ratio. IVV led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.93. Which one suits a particular account depends on what it is for. This is information, not a recommendation.