BALQ vs. PBQQ

Last updated Jun 24, 2026

BALQ (iShares Nasdaq Premium Income Active ETF) and PBQQ (PGIM Laddered Nasdaq-100 Buffer 12 ETF) are both exchange-traded funds - BALQ is a Nasdaq-100 fund actively managed by iShares, while PBQQ is a Defined Outcome fund actively managed by PGIM. Both are actively managed. With a 0.96 correlation, they move nearly in lockstep. BALQ charges 0.35%/yr vs 0.50%/yr for PBQQ.

Performance

BALQ vs. PBQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Nasdaq Premium Income Active ETF (BALQ) and PGIM Laddered Nasdaq-100 Buffer 12 ETF (PBQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BALQ achieves a 18.59% return, which is significantly higher than PBQQ's 8.21% return.

BALQ

• 1D: -3.11%
• 1M: -0.12%
• YTD: 18.59%
• 6M: 17.39%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PBQQ

• 1D: -0.75%
• 1M: -0.22%
• YTD: 8.21%
• 6M: 8.11%
• 1Y: 19.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BALQ vs. PBQQ - Yearly Performance Comparison

	2026 (YTD)	2025
BALQ iShares Nasdaq Premium Income Active ETF	18.59%	0.04%
PBQQ PGIM Laddered Nasdaq-100 Buffer 12 ETF	8.21%	0.70%

Correlation

The correlation between BALQ and PBQQ is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 3, 2025	0.96

Return for Risk

BALQ vs. PBQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BALQ

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

PBQQ

PBQQ Risk / Return Rank: 88
PBQQ Sharpe Ratio Rank: 88
PBQQ Sortino Ratio Rank: 91
PBQQ Omega Ratio Rank: 90
PBQQ Calmar Ratio Rank: 83
PBQQ Martin Ratio Rank: 90

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BALQ vs. PBQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Nasdaq Premium Income Active ETF (BALQ) and PGIM Laddered Nasdaq-100 Buffer 12 ETF (PBQQ). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BALQ	PBQQ	Difference
Sharpe ratio: Return per unit of total volatility	—	2.64	—
Sortino ratio: Return per unit of downside risk	—	3.85	—
Omega ratio: Gain probability vs. loss probability	—	1.52	—
Calmar ratio: Return relative to maximum drawdown	—	4.08	—
Martin ratio: Return relative to average drawdown	—	19.12	—

Drawdowns

BALQ vs. PBQQ - Drawdown Comparison

The maximum BALQ drawdown since its inception was -11.79%, smaller than the maximum PBQQ drawdown of -12.92%. Use the drawdown chart below to compare losses from any high point for BALQ and PBQQ.

Drawdown Indicators

	BALQ	PBQQ	Difference
Max Drawdown Largest peak-to-trough decline	-11.79%	-12.92%	+1.13%
Max Drawdown (1Y) Largest decline over 1 year	—	-4.71%	—
Current Drawdown Current decline from peak	-3.71%	-1.02%	-2.69%
Average Drawdown Average peak-to-trough decline	-2.40%	-1.24%	-1.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.00%	—

Volatility

Volatility by Period

	BALQ	PBQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.24%	—
Volatility (6M) Calculated over the trailing 6-month period	—	5.77%	—
Volatility (1Y) Calculated over the trailing 1-year period	20.62%	7.32%	+13.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.62%	11.79%	+8.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.62%	11.79%	+8.83%

BALQ vs. PBQQ - Expense Ratio Comparison

BALQ has a 0.35% expense ratio, which is lower than PBQQ's 0.50% expense ratio.

Dividends

BALQ vs. PBQQ - Dividend Comparison

BALQ's dividend yield for the trailing twelve months is around 4.76%, more than PBQQ's 0.01% yield.

Position	TTM	2025
BALQ iShares Nasdaq Premium Income Active ETF	4.76%	0.95%
PBQQ PGIM Laddered Nasdaq-100 Buffer 12 ETF	0.01%	0.01%

Frequently Asked Questions

Can I hold both BALQ and PBQQ in my portfolio?

With a correlation of 0.96, BALQ and PBQQ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, BALQ or PBQQ?

On fees, BALQ is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BALQ or PBQQ?

BALQ is cheaper with a 0.35% expense ratio, compared with 0.50% for PBQQ.

Which ETF pays a higher dividend yield, BALQ or PBQQ?

BALQ has the higher dividend yield at 4.76%, compared with 0.01% for PBQQ.

What is the main difference between BALQ and PBQQ?

BALQ is categorized as Nasdaq-100, while PBQQ is Defined Outcome. They also come from different issuers: iShares and PGIM. Their fees differ too: 0.35% for BALQ and 0.50% for PBQQ.