IVV vs MMAX
iShares Core S&P 500 ETF vs iShares Large Cap Max Buffer Mar ETF
Which is better, IVV or MMAX?
Large Cap Blend against Large Cap Growth.
IVV has a lower expense ratio. IVV led over 1Y and the full window.
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 | IVV | MMAX |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.50% |
| AUM | $876.4B | $73M |
| Dividend Yield | 1.06% | 0.76% |
| Holdings | 508 | 7 |
| YTD Return | +11.57%Best | +4.31% |
| 1Y Return | +17.57%Best | +5.17% |
| 3Y Return (annualized) | +20.71% | - |
| 5Y Return (annualized) | +12.80% | - |
| Volatility (annualized) | 12.3% | 1.5%Best |
| Max Drawdown | -12.1% | -1.9%Best |
| $10,000 over 1.4 years | $13,584Best | $10,879 |
| Fund Family | iShares by BlackRock (US) | iShares by BlackRock (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Growth |
| Inception | May 15, 2000 | Mar 31, 2025 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.4 years row, are measured over the window both funds cover: Apr 1, 2025 to Sep 10, 2026 (1.4 years).
IVV vs MMAX 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 1.4 years both funds cover.
IVV vs MMAX Performance
iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US) and iShares Large Cap Max Buffer Mar ETF (MMAX) is an ETF from iShares by BlackRock (US). Over the past year IVV returned +17.57% while MMAX returned +5.17%. Year to date, IVV is up 11.57% versus a gain of 4.31% for MMAX.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 12.3% compared with 1.5% for MMAX. 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 -12.1% for IVV and -1.9% for MMAX. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.67. They move together some of the time, and apart the rest.
Fees and Cost Over Time
IVV charges 0.03% per year while MMAX charges 0.50%. On a $10,000 position that is $3 vs $50 annually, a gap of $47 per year that compounds over a long holding period. On income, IVV currently yields 1.06% against 0.76% for MMAX.
Holdings Overlap
At least 0.2% of IVV's money is in holdings MMAX also owns.
Only one direction is shown: for MMAX, our book for it lists positions totalling 113.3% 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 505 positions we hold weights for in IVV and 3 in MMAX, against full books of 508 and 7.
Top Shared Holdings
| Stock | Weight in IVV | Weight in MMAX | Difference |
|---|---|---|---|
| XTSLABlackrock Cash Funds: Treasury, Sl Agency Shares | 0.18% | 0.80% | 0.62% |
You are not choosing between two funds in isolation.
Whichever of IVV and MMAX 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, IVV or MMAX?
IVV has an expense ratio of 0.03% while MMAX charges 0.50%. IVV is the cheaper option, by $47 a year on a $10,000 investment.
Which performed better, IVV or MMAX?
Over the past year IVV returned +17.57% vs +5.17% for MMAX, so IVV leads on 1-year performance. Over the longest common window we track (1 years), IVV annualized +24.46% vs +6.20% for MMAX. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVV or MMAX?
IVV has been the more volatile fund at 12.3% annualized versus 1.5% for MMAX. Worst drawdown: IVV -12.1% vs MMAX -1.9%.
Should I hold both IVV and MMAX?
IVV and MMAX have a monthly-return correlation of 0.67, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, IVV or MMAX?
IVV yields 1.06% while MMAX yields 0.76%, so IVV currently pays the higher dividend yield.
Is MMAX better than IVV?
IVV has a lower expense ratio. IVV led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.