BAI vs MMAX
iShares AI Innovation and Tech Active ETF vs iShares Large Cap Max Buffer Mar ETF
Which is better, BAI or MMAX?
BAI has been ahead.
MMAX has a lower expense ratio. BAI led over 1Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | BAI | MMAX |
|---|---|---|
| Expense Ratio | 0.55% | 0.50%Best |
| AUM | $14.2B | $74M |
| Dividend Yield | 1.26% | 0.76% |
| Holdings | 55 | 7 |
| YTD Return | +30.13%Best | +4.90% |
| 1Y Return | +30.79%Best | +5.24% |
| Volatility (annualized) | 39.1% | 1.4%Best |
| Max Drawdown | -30.9% | -1.9%Best |
| $10,000 over 1.5 years | $19,866Best | $10,944 |
| Fund Family | iShares by BlackRock (US) | iShares by BlackRock (US) |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Growth |
| Inception | Oct 21, 2024 | Mar 31, 2025 |
Not shown on this pair: 3Y Return (annualized), 5Y Return (annualized), Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.5 years row, are measured over the window both funds cover: Apr 1, 2025 to Oct 14, 2026 (1.5 years).
BAI vs MMAX growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
BAI vs MMAX Performance
iShares AI Innovation and Tech Active ETF (BAI) is an ETF from iShares by BlackRock (US) and iShares Large Cap Max Buffer Mar ETF (MMAX) is an ETF from iShares by BlackRock (US). Over the past year BAI returned +30.79% while MMAX returned +5.24%. Year to date, BAI is up 30.13% versus a gain of 4.90% for MMAX.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
BAI has been the more volatile fund, with annualized monthly volatility of 39.1% compared with 1.4% for MMAX. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -30.9% for BAI and -1.9% for MMAX. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.51. They move together some of the time, and apart the rest.
Fees and Cost Over Time
BAI charges 0.55% per year while MMAX charges 0.50%. On a $10,000 position that is $55 vs $50 annually, a gap of $5 per year that compounds over a long holding period. On income, BAI currently yields 1.26% against 0.76% for MMAX.
Holdings Overlap
At least 0.5% of BAI's money is in holdings MMAX also owns.
Only one direction is shown: for MMAX, our book for it lists positions totalling 112.5% of the fund, which is what a leveraged book looks like and is not a denominator we can divide by.
We cannot see either book well enough to say how much of this pair is duplicated.
1 positions in common, counted across the 50 positions we hold weights for in BAI and 3 in MMAX, against full books of 55 and 7.
Top Shared Holdings
| Stock | Weight in BAI | Weight in MMAX | Difference |
|---|---|---|---|
| XTSLABlackrock Cash Funds: Treasury, Sl Agency Shares | 0.47% | 1.06% | 0.59% |
You are not choosing between two funds in isolation.
Whichever of BAI and MMAX you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, BAI or MMAX?
BAI has an expense ratio of 0.55% while MMAX charges 0.50%. MMAX is the cheaper option, by $5 a year on a $10,000 investment.
Which performed better, BAI or MMAX?
Over the past year BAI returned +30.79% vs +5.24% for MMAX, so BAI leads on 1-year performance. Over the longest common window we track (2 years), BAI annualized +58.03% vs +6.20% for MMAX. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, BAI or MMAX?
BAI has been the more volatile fund at 39.1% annualized versus 1.4% for MMAX. Worst drawdown: BAI -30.9% vs MMAX -1.9%.
Should I hold both BAI and MMAX?
BAI and MMAX have a monthly-return correlation of 0.51, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, BAI or MMAX?
BAI yields 1.26% while MMAX yields 0.76%, so BAI currently pays the higher dividend yield.
Is MMAX better than BAI?
MMAX has a lower expense ratio. BAI led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.