iShares Large Cap Max Buffer Sep ETF (SMAX)

Assets	$97.34M
Expense Ratio	0.50%
PE Ratio	n/a
Shares Out	3.52M
Dividend (ttm)	$0.26
Dividend Yield	0.95%
Ex-Dividend Date	Dec 23, 2025
Payout Frequency	Annual
Payout Ratio	n/a

Volume	6,298
Open	27.66
Previous Close	27.65
Day's Range	27.62 - 27.67
52-Week Low	25.42
52-Week High	27.69
Beta	n/a
Holdings	7
Inception Date	Sep 30, 2024

About SMAX

Fund Home Page

The iShares Large Cap Max Buffer Sep ETF (SMAX) is an exchange-traded fund that is based on the S&P 500 index. The fund seeks to track the price return of the iShares Core S&P 500 ETF (IVV) up to a cap, with 100% downside hedge over a one-year outcome period. The actively managed fund obtains exposure by holding IVV shares and options SMAX was launched on Sep 30, 2024 and is issued by BlackRock.

• Asset Class: Alternatives
• Category: Defined Outcome
• Region: North America
• Stock Exchange: BATS
• Ticker Symbol: SMAX
• ETF Provider: BlackRock
• Index Tracked: S&P 500

Top Holdings

Name	Symbol	Weight
iShares Core S&P 500 ETF	IVV	105.45%
OCT26 IVV US P @ 669.3	IVV.US FLEX	1.43%
BLK CSH FND TREASURY SL AGENCY	XTSLA	0.98%
CASH COLLATERAL USD GSCFT	GSCFT	0.12%
USD CASH	USD	0.01%
MICRO EMINI S&P 500 JUN 26	HWAM6	0.00%
OCT26 IVV US C @ 721.51	IVV.US FLEX	-7.98%

Dividend History

Ex-Dividend	Amount	Pay Date
Dec 23, 2025	$0.26324	Dec 29, 2025
Dec 30, 2024	$0.06681	Jan 3, 2025

Performance

SMAX had a total return of 8.99% in the past year, including dividends. Since the fund's inception, the average annual return has been 7.24%.