MMAX iShares Large Cap Max Buffer Mar ETF
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iShares Large Cap Max Buffer Mar ETF (MMAX) ETF
No description available.
- Exchange
- BATS
- Inception
- 2025-03-31
- Has Options
- No
- Homepage
- https://www.ishares.com/us
- Expense ratio
- 0.50% issuer, Nov 9, 2026
- Assets
- $74M issuer-reported, Nov 6, 2026
- Trailing yield
- 1.25% paid annual
- Average daily volume
- $190K 30 sessions
- Holdings
- 7 top 10 are 108.9%
- Listed
- Mar 31, 2025 Cboe BZX
- Net asset value
- $27.52 issuer, Nov 6, 2026 · closed -0.00% to NAV
- Median bid/ask spread
- 0.15% 30 days, issuer-reported
- 30-day SEC yield
- 0.79% issuer, Sep 30, 2026
- Return on NAV, 1 year
- +6.6% issuer, through Oct 31, 2026
- Distributions, 12 months
- $0.34 a share issuer, through Dec 23, 2025: 60% income · 40% capital gains
Moves with. US large-cap stocks (34% of its variance, beta 0.09); Emerging markets over US (4% of its variance, beta 0.01); Bitcoin (3% of its variance, beta 0.00). These factors explain 32% of its daily moves over the last year, so most of what drives this fund is something else.
Stated objective. The iShares Large Cap Max Buffer Mar ETF (the Fund ) seeks to track the share price return of the iShares Core S&P 500 ETF (the Underlying Fund ) up to an approximate upside limit, while seeking to maximize the downside protection against price declines of the Underlying Fund over an approximate 12-month period beginning at the end of each March. (from the fund's prospectus)
- Nov 6, 2026
- $0 latest day
- Latest 5 trading days
- $0
- Latest 21 trading days
- $0 0.0% of assets
- Year to date
- +$37M +$35M over 12 months
Each day
| Day | Net flow |
|---|---|
| Nov 6, 2026 | $0 |
| Nov 5, 2026 | $0 |
| Nov 4, 2026 | $0 |
| Nov 3, 2026 | $0 |
| Nov 2, 2026 | $0 |
| Oct 30, 2026 | $0 |
| Oct 29, 2026 | $0 |
| Oct 28, 2026 | $0 |
| Oct 27, 2026 | $0 |
| Oct 26, 2026 | $0 |
| Oct 23, 2026 | $0 |
| Oct 22, 2026 | $0 |
| Oct 21, 2026 | $0 |
| Oct 20, 2026 | $0 |
| Oct 19, 2026 | $0 |
| Oct 16, 2026 | $0 |
| Oct 15, 2026 | $0 |
| Oct 14, 2026 | $0 |
| Oct 13, 2026 | $0 |
| Oct 12, 2026 | $0 |
| Oct 9, 2026 | $0 |
Daily figures are the change in shares outstanding times net asset value, both as the issuer publishes them each day.
- Jul 2026
- −$1.1M latest reported month
- Latest 3 months
- −$5K −0.0% of assets
- Latest 12 months
- +$32M +43.8% of assets
View as a table
| Month | Net flow |
|---|---|
| Jul 2026 | −$1.1M |
| Jun 2026 | +$1.1M |
| May 2026 | $0 |
| Apr 2026 | +$36M |
| Mar 2026 | +$1.1M |
| Feb 2026 | $0 |
| Jan 2026 | $0 |
| Dec 2025 | $0 |
| Nov 2025 | −$2.1M |
| Oct 2025 | $0 |
| Sep 2025 | $0 |
| Aug 2025 | −$3.1M |
Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 18 months ago
| Fund | Overlap | Fee | Assets | 1Y | |
|---|---|---|---|---|---|
| BUFRFT Vest Laddered Buffer ETF | — | 0.95% | $10.8B | +8.9% | compare |
| BALTInnovator Defined Wealth Shield ETF | — | 0.69% | $3.3B | +5.5% | compare |
| BUFDFT Vest Laddered Deep Buffer ETF | — | 0.95% | $2.2B | +7.6% | compare |
| BUFQFT Vest Laddered Nasdaq Buffer ETF | — | 1.00% | $1.6B | +7.7% | compare |
| FJANFT Vest U.S. Equity Buffer ETF - January | — | 0.85% | $1.5B | +9.4% | compare |
The largest other funds in the Buffer category.
- Insider buying
- 0% of weight had net insider buying, 90 days; 0% net selling
- 13F holders
- −6.7% change in shares held by institutions, latest quarter
- Reporting earnings
- 0.0% of weight in 7 days; 0.0% in 14
Each figure is the fund's holdings weighted by position size, using our data on those stocks, and covers only the share of the stock holdings stated. Positive fair value means the holdings trade below our estimate.
- Authorized participants
- 2 active of 34 with agreements; top 3 did 100%
- Created · redeemed
- $38M · $1.0M over the fiscal year
- Redemptions in kind
- 99% creations 0% in kind
- Creation unit
- 40,000 shares
- Securities lending
- authorized, none lent
- Diversification status
- Non-diversified may concentrate in fewer issuers
From the fund's annual census filing with the SEC. In-kind redemptions are what let an ETF shed appreciated securities without realising gains.
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2025-12-23 | 2025-12-29 | $0.3446 | CD |
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| IVV | ISHARES CORE S&P ETF TRUST | 107.03% | Equity (US) | US |
| — | APR27 IVV US P @ 653.21 | 1.83% | Derivative | US |
| — | BLK CSH FND TREASURY SL AGENCY | 0.99% | Cash/Money Market | US |
| — | CASH COLLATERAL USD GSCFT | 0.14% | Cash/Money Market | US |
| — | MICRO EMINI S&P 500 DEC 26 | 0.00% | Derivative | — |
| — | USD CASH | -0.00% | Cash/Money Market | US |
| — | APR27 IVV US C @ 699.07 | -10.00% | Derivative | US |
| Month | '25 | '26 | Avg |
|---|---|---|---|
| Jan | -- | 0.40% | 0.40% |
| Feb | -- | 0.23% | 0.23% |
| Mar | -- | 0.54% | 0.54% |
| Apr | 0.01% | 1.39% | 0.70% |
| May | 1.09% | 0.48% | 0.79% |
| Jun | 1.02% | 0.02% | 0.52% |
| Jul | 0.55% | 0.61% | 0.58% |
| Aug | 0.64% | 0.53% | 0.58% |
| Sep | 0.73% | 0.43% | 0.58% |
| Oct | 0.40% | 0.38% | 0.39% |
| Nov | 0.44% | 0.11%* | 0.28% |
| Dec | -0.55% | -- | -0.55% |
| Total | 4.40% | 5.23% | 4.82% |
Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.
- SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
- EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
- MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
- ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
- +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
- RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
- Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
- Williams %R — inverted scale: <−80 oversold, >−20 overbought.
Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.
- Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
- OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
- Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
- ATR / True Range — average daily $ move; sizing and stop-loss reference.
- HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.
Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →
Trend Indicators
Momentum Oscillators
Volume & Volatility
Data Summary
LLM Stock Analysis Report: MMAX
Executive Summary
Assessment: NEUTRAL (6/10)
Key Drivers and Primary Risks:
- Strong technical momentum signals, including a bullish MACD crossover
- RSI reading indicates overbought conditions
- Low volatility and correlation with the broader market
2-3 Sentence Investment Thesis: MMAX appears to be trading in a strong uptrend, driven by positive technical momentum. However, the stock's recent overbought RSI reading suggests potential short-term selling pressure. As such, investors should monitor critical price levels and risk management strategies.
Recent News Sentiment Impact: No recent news headlines available, which may impact sentiment analysis.
Technical Analysis
Trend Direction:
- Short-term (1-4 weeks): Bullish
- Medium-term (1-3 months): Bullish
- Long-term (3-12 months): Bullish
Support/Resistance Levels: Upper Bollinger Band ($27.42) and recent highs around $28.00 serve as short-term resistance. The lower Bollinger Band ($27.28) and the SMA 200 ($26.75) provide support.
Momentum Signals:
- RSI interpretation: Overbought (>70), potential sell signal
- MACD signal: Bullish (crossover above signal line)
- Bollinger Bands position: Neutral (squeeze)
Volume Analysis: Volume has been decreasing recently, indicating a potentially weakening trend.
News & Sentiment Analysis
Recent Headlines Summary: No recent news headlines available.
Sentiment Assessment: Neutral due to lack of recent news.
Catalyst Identification: No upcoming events or releases reported.
Market Narrative: Technical momentum remains strong, but recent overbought conditions may lead to short-term selling pressure.
Risk & Volatility Assessment
Beta Interpretation: Low beta (0.07) relative to the broader market, indicating low volatility.
Volatility Regime: Current volatility is lower than historical levels.
Options Market Signals: No options data available.
Downside Protection: The SMA 200 and Bollinger Band support provide some protection against potential declines.
Market Context & Positioning
Sector Performance: MMAX outperformed the broader market in the short term but lagged in the medium term.
Institutional Activity: No recent institutional activity reported.
Correlation Analysis: Low correlation (0.48) with the broader market, indicating a potentially independent trading decision.
Relative Valuation: MMAX is positioned within its trading range, offering some flexibility for investors.
Key Levels & Action Items
Critical Price Levels:
- Support: Lower Bollinger Band ($27.28), SMA 200 ($26.75)
- Resistance: Upper Bollinger Band ($27.42), recent highs around $28.00
Breakout/Breakdown Levels: None reported.
Time-Sensitive Catalysts: No upcoming events or releases reported.
Risk Management: Monitor RSI and MACD signals, adjusting stop-loss levels accordingly. Consider scaling into positions to manage risk.
MMAX Options Activity & IV Rank
Each spread is ranked by a composite score built in three stages. Full documentation →
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
Calendars: the long leg is valued at the short leg’s expiration (Black-Scholes at its current IV) across the range of prices the short leg’s IV implies, giving the best-case profit (R/R = that over the debit) and P(profit).
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Scanning bull put, bear call, iron condor and calendar spreads…
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Loading the implied volatility surface…
Loading the implied volatility smile…
Risk Metrics
Analysis Details
Data Points: 251
Period: 252 trading days
Low volatility - stock moves less than market
MMAX Institutional Ownership (13F)
Filings for 2026-06-30 · 9 already for 2026-09-30Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.
- Shares — long equity positions in this name, aggregated across share classes.
- Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
- % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
- Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.
Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.
| # | Filer | Notional Value | % of Total | Period |
|---|
| # | Filer | Notional Value | % of Total | Period |
|---|
Click any bar to view the full quote for that stock.
| Symbol | Name | Weight % | Price | 1 Day | 1 Week | 1 Month |
|---|---|---|---|---|---|---|
| IVV | ISHARES CORE S&P ETF TRUST | 107.03% | $756.05 | +2.35% | +0.09% | -3.25% |