iShares Large Cap Max Buffer Dec ETF
DMAX
Chicago Board Options Exchange- -
USD
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Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 400 Howard Street San Francisco CA United States of America 94105
- IPO Date
- Jan 2, 2025
- Website
- ishares.com
- Similar Companies
- Business
- iShares Large Cap Max Buffer Dec ETF (DMAX) seeks to provide exposure to the share price return of the iShares Core S&P 500 ETF (the Underlying ETF) up to an approximate upside limit while maximizing downside protection against price declines of the Underlying ETF over an approximate 12-month outcome period that starts at the end of each December; the fund aims to preserve capital through a buffer mechanism and caps potential upside returns with an approximate cap, delivering a defined risk-reward profile for investors seeking downside protection with participation in equity gains. Main products and services - Investment objective and strategy: professional exposure to large-cap U.S. equities via a buffer-and-cap structured approach linked to the Underlying ETF; includes a defined upside cap, a high initial buffer against declines, and a prescribed downside threshold before the buffer applies; each outcome period resets annually, beginning January 1 and ending December 31. - Exchange-traded fund structure and trading: shares that trade on a public exchange with in-kind creation and redemption process for Creation Units; book-entry settlement and standard ETF liquidity provide intraday trading and price transparency. - Index and underlying exposure: allocates to the performance of the Underlying ETF (iShares Core S&P 500 ETF) to capture broad U.S. large-cap exposure and standard equity market risk/return characteristics, with structured risk controls via buffer and cap features. - Related currency and hedging features: does not inherently implement currency hedging beyond the fund’s stated structure; investors access U.S. equity risk with upside and downside protections defined by the product terms. Geographic operations and structure - Primary market and trading venues: United States-listed ETF; underlying exposure is to U.S. large-cap equities represented by the Core S&P 500 index framework; operations and execution occur through U.S. market infrastructure and custodial arrangements. - Operational framework and governance: managed by the iShares family of funds under the sponsor and adviser entity, with periodic disclosures, prospectus updates, and annual/seasonal strategy reviews aligned to regulatory requirements. Founding year and headquarters - Established as part of the iShares suite of funds; parent and sponsor structure align with BlackRock’s iShares line of ETFs; headquarters for the fund and sponsor activities are in the United States. Subsidiaries and relationships - Part of the iShares ETF lineup; complements other iShares core and strategy-oriented funds; maintained within BlackRock's broader fund family with separate legal/operational entities for regulatory and distribution purposes. Latest major changes - Strategic and product updates: periodically refreshes the fund’s target cap and buffer parameters at the start of each outcome period; the current framework exhibits an approximate upside cap of 6.30% and a starting buffer of 99.50% with a 0.50% downside before the buffer, as of the latest disclosed cycle; the outcome period runs from January 1, 2026, to December 31, 2026, with a reset mechanism for subsequent years [web sources referencing DMAX design and 2026 cycle]. These structural features are updated through public disclosures and fund documentation to reflect ongoing adjustments in buffer size, cap, and hedging assumptions as market conditions evolve. - Fund disclosures and literature: the fund’s fact sheet and prospectus materials outline the structure, risk considerations, and periodic updates; investor communications accompany quarterly and annual updates to reflect performance, changes in the underlying index methodology, and any administrative adjustments. Industry and business segments - Investment products: ETFs and structured risk-managed notes within the U.S. large-cap equity space; DMAX represents a disciplined approach combining downside protection with capped upside within a monthly/annual cycle framework. - Client segments: retail and institutional investors seeking capital-preserving exposure to U.S. large-cap equities with defined risk controls. Target markets and customers - Primary market focus: U.S. market participants accessing U.S. large-cap exposure through an ETF structure; additional regional distributors and platforms provide access to international investors through U.S.-listed ETF trading. Notes - The product is designed to track the Underlying ETF’s share price performance up to a defined upside cap while aiming to maximize downside protection via the buffer stage; the annual reset of the hedge and payoff terms means the same structure applies anew each year, subject to disclosures and regulatory requirements.