DMAX vs VOO
DMAX vs VOO
iShares Large Cap Max Buffer Dec ETF vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. VOO delivered stronger 1-year returns. VOO offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | DMAX | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.50% | 0.03% | |
| AUM | $138M | $979.0B | |
| Dividend Yield | 0.88% | 1.09% | |
| Holdings | 7 | 509 | |
| YTD Return | +3.50% | +13.80% | |
| 1Y Return | +6.04% | +23.71% | |
| 3Y Return (annualized) | - | +21.50% | |
| 5Y Return (annualized) | - | +13.44% | |
| Volatility (annualized) | 2.7% | 14.1% | |
| Max Drawdown | -3.4% | -34.3% | |
| Fund Family | iShares by BlackRock (US) | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Dec 31, 2024 | Sep 7, 2010 |
DMAX vs VOO Performance
iShares Large Cap Max Buffer Dec ETF (DMAX) is a ETF from iShares by BlackRock (US) and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year DMAX returned +6.04% while VOO returned +23.71%. Year to date, DMAX is up 3.50% versus a gain of 13.80% for VOO.
Risk: Volatility and Drawdowns
VOO has been the more volatile fund, with annualized monthly volatility of 14.1% compared with 2.7% 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 -34.3% for VOO. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.92. 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 VOO 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 0.88% against 1.09% for VOO.
Holdings Overlap
DMAX and VOO share 0 holdings out of 508 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, DMAX or VOO?
DMAX has an expense ratio of 0.50% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $47 per year of difference.
Which performed better, DMAX or VOO?
Over the past year DMAX returned +6.04% vs +23.71% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (2 years), DMAX annualized +6.36% vs +13.58% for VOO. Past performance does not guarantee future results.
Which is riskier, DMAX or VOO?
VOO has been the more volatile fund at 14.1% annualized versus 2.7% for DMAX. Worst drawdown: DMAX -3.4% vs VOO -34.3%.
Should I hold both DMAX and VOO?
DMAX and VOO have a monthly-return correlation of 0.92, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between DMAX and VOO?
DMAX and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 508 unique securities.
Which pays a higher dividend, DMAX or VOO?
DMAX yields 0.88% while VOO yields 1.09%, so VOO currently pays the higher dividend yield.
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