{
 "ticker": "MMAX",
 "name": "iShares Large Cap Max Buffer Mar ETF",
 "issuer": "iShares",
 "desk": "buffer",
 "url": "https://etfiq.com/funds/MMAX",
 "html": "https://etfiq.com/funds/MMAX",
 "markdown": "https://etfiq.com/funds/MMAX.md",
 "as_of": "2026-09-10",
 "verdict": "As of Sep 10, 2026, MMAX has reached its cap.",
 "key_facts": [
  {
   "key": "past_the_cap_price_drift_left",
   "label": "Past the cap, price drift left",
   "value": "3.3%",
   "source": null,
   "as_of": "2026-09-10",
   "sentence": "MMAX, past the cap, price drift left: 3.3%, as of Sep 10, 2026."
  },
  {
   "key": "fall_before_the_buffer",
   "label": "Fall before the buffer",
   "value": "3.5%",
   "source": null,
   "as_of": "2026-09-10",
   "sentence": "MMAX, fall before the buffer: 3.5%, as of Sep 10, 2026."
  },
  {
   "key": "protection_left_index_points",
   "label": "Protection left, index points",
   "value": "99.5%",
   "source": null,
   "as_of": "2026-09-10",
   "sentence": "MMAX, protection left, index points: 99.5%, as of Sep 10, 2026."
  },
  {
   "key": "days_to_reset",
   "label": "Days to reset",
   "value": "202",
   "source": null,
   "as_of": "2026-09-10",
   "sentence": "MMAX, days to reset: 202, as of Sep 10, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$72m",
   "source": "source, as filed for Apr 30, 2026",
   "as_of": "2026-09-10",
   "sentence": "MMAX, net assets: $72m (source, as filed for Apr 30, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.50%",
   "source": "issuer page, Sep 10, 2026",
   "as_of": "2026-09-10",
   "sentence": "MMAX, expense ratio: 0.50% (issuer page, Sep 10, 2026)."
  }
 ],
 "fields": [
  {
   "key": "reference_index",
   "label": "Reference index",
   "value": "IVV",
   "source": null
  },
  {
   "key": "buffer",
   "label": "Buffer",
   "value": "0% to 100%",
   "source": null
  },
  {
   "key": "outcome_period",
   "label": "Outcome period",
   "value": "Apr 1, 2026 to Mar 31, 2027",
   "source": null
  },
  {
   "key": "starting_cap",
   "label": "Starting cap",
   "value": "+6.5%",
   "source": null
  },
  {
   "key": "ivv_return_since_period_start",
   "label": "IVV return since period start",
   "value": "+16.6%",
   "source": null
  },
  {
   "key": "fund_return_since_period_start",
   "label": "Fund return since period start",
   "value": "not published",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$72m",
   "source": "source, as filed for Apr 30, 2026"
  },
  {
   "key": "band_state_today",
   "label": "Band state today",
   "value": "At cap",
   "source": "ETFIQ"
  },
  {
   "key": "can_still_gain",
   "label": "Can still gain",
   "value": "3.3%",
   "source": "issuer, fund price"
  },
  {
   "key": "fall_before_buffer",
   "label": "Fall before buffer",
   "value": "3.5%",
   "source": "issuer, fund price"
  },
  {
   "key": "fall_to_the_buffer_in_index_terms",
   "label": "Fall to the buffer in index terms",
   "value": "14.7%",
   "source": "ETFIQ"
  },
  {
   "key": "protection_left_in_index_points",
   "label": "Protection left in index points",
   "value": "99.5% of 99.5%",
   "source": "ETFIQ"
  },
  {
   "key": "days_left_in_period",
   "label": "Days left in period",
   "value": "202",
   "source": null
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.50%",
   "source": "issuer page, Sep 10, 2026"
  }
 ],
 "periods": [],
 "questions": [
  {
   "q": "How much can MMAX still gain?",
   "a": "Nothing more in index terms on Sep 10, 2026. IVV has already passed the cap of +6.5% for this period, which runs from Apr 1, 2026 to Mar 31, 2027."
  },
  {
   "q": "How far can MMAX fall before the buffer helps?",
   "a": "3.5% in fund-price terms on Sep 10, 2026, by the issuer's figure. In index terms IVV can fall 14.7% from that level before the buffer begins. Losses until that point are the holder's."
  },
  {
   "q": "How much of the MMAX buffer is left?",
   "a": "99.5% of the 99.5% buffer sat below the IVV level on Sep 10, 2026. That is an ETFIQ calculation in index points, on one definition for every issuer."
  },
  {
   "q": "When does MMAX reset?",
   "a": "The outcome period ends on Mar 31, 2027, 202 days from the data on Sep 10, 2026. A new cap is set the next day and the buffer starts again."
  },
  {
   "q": "What does MMAX cost?",
   "a": "The prospectus expense ratio is 0.50% a year."
  }
 ],
 "generated": "2026-09-13",
 "license": "Free to use with attribution. ETFIQ (etfiq.com)."
}