iShares Large Cap Max Buffer Sep ETF
SMAX
Chicago Board Options Exchange- -
USD
- -
- -
Capital Structure
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in mil. unless spec.Quarterly Earnings Per Share
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- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 400 Howard Street San Francisco CA United States of America 94105
- IPO Date
- Oct 1, 2024
- CIK
- 0001100663
- Website
- ishares.com
- Similar Companies
- Business
- iShares Large Cap Max Buffer Sep ETF is an exchange-traded fund sponsored and distributed by BlackRock that seeks to provide exposure to large-cap U.S. equities through the iShares Core S&P 500 ETF while targeting up to 100% downside protection, minus fees, in exchange for capped upside over a 12-month hedge period that runs from October to September. The fund, launched in 2024 and headquartered within BlackRock’s iShares platform in the United States, is structured as an actively managed equity ETF listed on Cboe BZX and designed for investors seeking defined-outcome equity exposure. The fund’s core strategy is to hold shares of the underlying ETF and use FLEX Options, including call and put options on the iShares Core S&P 500 ETF, to seek the stated buffer and cap profile; it is non-diversified and benchmarked to the S&P 500 Index. Its main product offering is this buffered large-cap equity exposure, and its portfolio characteristics include annual distributions, a net expense ratio of 0.50%, and an investment focus on U.S. large-cap market participation with downside mitigation. Recent company changes include the current hedge period running from October 1, 2025 through September 30, 2026, the ongoing establishment of a new cap and buffer profile for that period, and the continued contractual fee waiver in place through November 30, 2029. As of June 30, 2026, the fund reported net assets of about $91.45 million and remained in active operation with updated fact sheet disclosures reflecting its latest holdings and outcome period mechanics.