IVV vs MMAX
iShares Core S&P 500 ETF vs iShares Large Cap Max Buffer Mar ETF
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | IVV | MMAX | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.50% | |
| AUM | $907.0B | $73M | |
| Dividend Yield | 1.10% | 0.77% | |
| Holdings | 508 | 7 | |
| YTD Return | +12.28% | +4.12% | |
| 1Y Return | +20.94% | +5.52% | |
| 3Y Return (annualized) | +21.81% | - | |
| 5Y Return (annualized) | +13.05% | - | |
| Volatility (annualized) | 15.1% | 1.5% | |
| Max Drawdown | -56.5% | -1.9% | |
| Fund Family | iShares by BlackRock (US) | iShares by BlackRock (US) | |
| Category | Equity | Equity | |
| Inception | May 15, 2000 | Mar 31, 2025 |
IVV vs MMAX Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and iShares Large Cap Max Buffer Mar ETF (MMAX) is a ETF from iShares by BlackRock (US). Over the past year IVV returned +20.94% while MMAX returned +5.52%. Year to date, IVV is up 12.28% versus a gain of 4.12% for MMAX.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% 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 -56.5% for IVV and -1.9% for MMAX. 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 0.64. They move independently enough that combining them can meaningfully diversify a portfolio.
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 1.10% against 0.77% for MMAX.
Holdings Overlap
IVV and MMAX share 1 holdings out of 507 unique holdings combined, representing a 0.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in IVV | Weight in MMAX | Difference |
|---|---|---|---|
| XTSLA | 0.15% | 0.85% | 0.70% |
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. On a $10,000 investment, that is $47 per year of difference.
Which performed better, IVV or MMAX?
Over the past year IVV returned +20.94% vs +5.52% for MMAX, so IVV leads on 1-year performance. Over the longest common window we track (1 years), IVV annualized +6.98% vs +6.32% for MMAX. Past performance does not guarantee future results.
Which is riskier, IVV or MMAX?
IVV has been the more volatile fund at 15.1% annualized versus 1.5% for MMAX. Worst drawdown: IVV -56.5% vs MMAX -1.9%.
Should I hold both IVV and MMAX?
IVV and MMAX have a monthly-return correlation of 0.64, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and MMAX?
IVV and MMAX share 1 common holdings with a 0.1% weight overlap. Combined, they hold 507 unique securities.
Which pays a higher dividend, IVV or MMAX?
IVV yields 1.10% while MMAX yields 0.77%, so IVV currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.