i've also seen valvoline maxlife atf and if you look at the product info, the maxlife is a synthetic oil.
Ashland Oil/Valvoline is the main broadcaster of the (false) myth that Mercon-V and Mazda M-V are equivalent specs. Valvoline MaxLife's label -- for an earlier formulation of MaxLife -- used to list MaxLife as a recommended substitute for Mazda M-V. Then (around 2008) Ashland changed the Valvoline MaxLife formulation to chase after the Dexron VI spec, and the Valvoline tech people and Ashland's lawyers affirmatively removed Mazda M-V from the label's listing of recommended applications. Because the new MaxLife was no longer suitable for Mazda M-V applications.
That displeased the sales and marketing side of Ashland/Valvoline, and a marketing vice president at Valvoline wrote a very cagey, exceptionally carefully worded, memo that said that Valvoline Maxlife is good and you know thet Mazda M-V is good, too, so don't worry, be happy. Ignore the man behind the curtain. The memo went viral and has been posted thousands of times on the Internet by Valvoline fan-boys.
If you need Mazda M-V ATF -- and you do -- stick with genuine Mazda ATF or Motorcraft FNR5 ATF, or Redline D4.