# MMAX (iShares Large Cap Max Buffer Mar ETF)

iShares · Buffer ETFs · data as of Sep 10, 2026

As of Sep 10, 2026, MMAX has reached its cap.

## Key facts

- MMAX, past the cap, price drift left: 3.3%, as of Sep 10, 2026.
- MMAX, fall before the buffer: 3.5%, as of Sep 10, 2026.
- MMAX, protection left, index points: 99.5%, as of Sep 10, 2026.
- MMAX, days to reset: 202, as of Sep 10, 2026.
- MMAX, net assets: $72m (source, as filed for Apr 30, 2026).
- MMAX, expense ratio: 0.50% (issuer page, Sep 10, 2026).

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Reference index | IVV | ETFIQ |
| Buffer | 0% to 100% | ETFIQ |
| Outcome period | Apr 1, 2026 to Mar 31, 2027 | ETFIQ |
| Starting cap | +6.5% | ETFIQ |
| IVV return since period start | +16.6% | ETFIQ |
| Fund return since period start | not published | ETFIQ |
| Net assets | $72m | source, as filed for Apr 30, 2026 |
| Band state today | At cap | ETFIQ |
| Can still gain | 3.3% | issuer, fund price |
| Fall before buffer | 3.5% | issuer, fund price |
| Fall to the buffer in index terms | 14.7% | ETFIQ |
| Protection left in index points | 99.5% of 99.5% | ETFIQ |
| Days left in period | 202 | ETFIQ |
| Expense ratio | 0.50% | issuer page, Sep 10, 2026 |

## Questions

### How much can MMAX still gain?

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.

### How far can MMAX fall before the buffer helps?

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.

### How much of the MMAX buffer is left?

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.

### When does MMAX reset?

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.

### What does MMAX cost?

The prospectus expense ratio is 0.50% a year.


## Cite this page

ETFIQ, MMAX, data as of Sep 10, 2026. https://etfiq.com/funds/MMAX
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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