iSharesDefined OutcomeSMAX · Cboe BZX

iShares Large Cap Max Buffer Sep ETF (SMAX)

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Price: $28.54; —12 Nov 2026
Assets: $125.6M; Total net assets
Expense ratio: 0.50%; Category 0.76%
Yield: 0.73%; Trailing distributions

1Y return: 6.7%-1.5%; Category 8.2%
3Y CAGR: —; Category 12.6%
5Y CAGR: —; Category 8.3%

$28.54—12 Nov 2026

Fund

Assets: $125.6M
Expense: 0.50%
Categ. exp: 0.76%
Yield: 0.73%

ReturnFundCateg.

1Y6.7%8.2%

3Y—12.6%

5Y—8.3%

Launch7.1%—

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iShares Large Cap Max Buffer Sep ETF

Calendar-year returns

Fund only: no comparison series covers this fund's history.

Risk statistics

Five years of daily closes. Risk-free rate 4% a year.

Standard deviation: —
Maximum drawdown: —
Sharpe ratio: —
Sortino ratio: —
Beta: —
Alpha: —
R²: —
Information ratio: —
Upside capture: —
Downside capture: —
Tracking error: —

Trailing returns compared with benchmark
Period	1M	3M	6M	YTD	1Y	3YCAGR	5YCAGR	10YCAGR	LaunchCAGR
ETF	-0.5%	+1.2%	+3.1%	+5.9%	+6.7%	—	—	—	+7.1%
Defined Outcome average	-1.3%	-0.6%	2.2%	7.1%	8.2%	12.6%	8.3%	—	7.9%
Difference	+0.9%	+1.8%	+0.9%	-1.3%	-1.5%	—	—	—	-0.8%

Holdings

The 2 largest positions make up 101.8% of the fund.

Top holdings

Largest holdings by weight
Ticker	Holding	Weight
IVV	iShares Core S&P 500 ETF	97.72%
XTSLA	BlackRock Cash Funds Treasury SL Agency	4.06%

Portfolio valuation

Weighted averages of what the fund holds.

P/E: 24.2
P/B: 5.3
P/S: 3.6
P/CF: 18.8

Sector allocation

Share of the equity the fund holds.

Technology40.5%
Financial services11.2%
Communication services10.0%
Health care9.3%
Consumer discretionary8.7%
Industrials7.5%
Consumer staples4.3%
Energy3.4%
Utilities1.9%
Real estate1.7%
Materials1.6%

Asset mix

Cash78.1%
Stocks21.9%

ETF details

Issuer: iShares
Category: Alternatives · Defined Outcome
Ticker: SMAX
Exchange: Cboe BZX
Inception: 30 Sept 2024 (2.1 years)
Structure: Exchange Traded Fund
Expense ratio: 0.50% (category 0.76%)
Holdings turnover: 6% (category 4%)
Distribution yield: 0.73%
Beta, 3 years: 0.00
Total net assets: $125.6M

Prices and returns as of 12 Nov 2026; total return with distributions reinvested, before brokerage and taxes. Not investment advice.

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