MMAX vs SCHD
iShares Large Cap Max Buffer Mar ETF vs Schwab US Dividend Equity ETF
Quick Verdict
SCHD has a lower expense ratio. SCHD delivered stronger 1-year returns. SCHD offers more diversification with 100 holdings.
Side-by-Side Comparison
| Metric | MMAX | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 0.50% | 0.06% | |
| AUM | $73M | $103.7B | |
| Dividend Yield | 0.77% | 3.31% | |
| Holdings | 7 | 104 | |
| YTD Return | +4.06% | +25.58% | |
| 1Y Return | +5.36% | +31.06% | |
| 3Y Return (annualized) | - | +15.55% | |
| 5Y Return (annualized) | - | +9.61% | |
| Volatility (annualized) | 1.5% | 13.6% | |
| Max Drawdown | -1.9% | -33.4% | |
| Fund Family | iShares by BlackRock (US) | Charles Schwab Asset Management | |
| Category | Equity | Equity | |
| Inception | Mar 31, 2025 | Oct 20, 2011 |
MMAX vs SCHD Performance
iShares Large Cap Max Buffer Mar ETF (MMAX) is a ETF from iShares by BlackRock (US) and Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management. Over the past year MMAX returned +5.36% while SCHD returned +31.06%. Year to date, MMAX is up 4.06% versus a gain of 25.58% for SCHD.
Risk: Volatility and Drawdowns
SCHD has been the more volatile fund, with annualized monthly volatility of 13.6% 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 -1.9% for MMAX and -33.4% for SCHD. 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 0.16. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
MMAX charges 0.50% per year while SCHD charges 0.06%. On a $10,000 position that is $50 vs $6 annually, a gap of $44 per year that compounds over a long holding period. On income, MMAX currently yields 0.77% against 3.31% for SCHD.
Holdings Overlap
MMAX and SCHD share 0 holdings out of 103 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, MMAX or SCHD?
MMAX has an expense ratio of 0.50% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $44 per year of difference.
Which performed better, MMAX or SCHD?
Over the past year MMAX returned +5.36% vs +31.06% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (1 years), MMAX annualized +6.38% vs +11.46% for SCHD. Past performance does not guarantee future results.
Which is riskier, MMAX or SCHD?
SCHD has been the more volatile fund at 13.6% annualized versus 1.5% for MMAX. Worst drawdown: MMAX -1.9% vs SCHD -33.4%.
Should I hold both MMAX and SCHD?
MMAX and SCHD have a monthly-return correlation of 0.16, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between MMAX and SCHD?
MMAX and SCHD share 0 common holdings with a 0.0% weight overlap. Combined, they hold 103 unique securities.
Which pays a higher dividend, MMAX or SCHD?
MMAX yields 0.77% while SCHD yields 3.31%, so SCHD 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.