BUFQ vs. PBQQ

Last updated Jun 24, 2026

BUFQ (FT Vest Laddered Nasdaq Buffer ETF) and PBQQ (PGIM Laddered Nasdaq-100 Buffer 12 ETF) are both exchange-traded funds - BUFQ is a Nasdaq-100 fund tracking the NASDAQ 100 Index - USD, while PBQQ is a Defined Outcome fund actively managed by PGIM. BUFQ is passively managed, while PBQQ is actively managed. Over the past year, BUFQ returned 19.01% vs 19.15% for PBQQ. Their correlation of 0.94 suggests significant overlap in exposure. BUFQ charges 1.10%/yr vs 0.50%/yr for PBQQ.

Performance

BUFQ vs. PBQQ - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with BUFQ having a 7.95% return and PBQQ slightly higher at 8.21%.

BUFQ

• 1D: -1.33%
• 1M: -0.77%
• YTD: 7.95%
• 6M: 6.55%
• 1Y: 19.01%
• 3Y*: 16.00%
• 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)

BUFQ vs. PBQQ - Yearly Performance Comparison

	2026 (YTD)	2025
BUFQ FT Vest Laddered Nasdaq Buffer ETF	7.95%	14.03%
PBQQ PGIM Laddered Nasdaq-100 Buffer 12 ETF	8.21%	15.44%

Correlation

The correlation between BUFQ and PBQQ is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jan 2, 2025	0.94

The correlation between BUFQ and PBQQ has been stable across timeframes, ranging from 0.93 to 0.94 - a consistent structural relationship.

Return for Risk

BUFQ vs. PBQQ — Risk / Return Rank

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

BUFQ

BUFQ Risk / Return Rank: 79
BUFQ Sharpe Ratio Rank: 75
BUFQ Sortino Ratio Rank: 80
BUFQ Omega Ratio Rank: 81
BUFQ Calmar Ratio Rank: 73
BUFQ Martin Ratio Rank: 87

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.

BUFQ vs. PBQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest Laddered Nasdaq Buffer ETF (BUFQ) 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.

	BUFQ	PBQQ	Difference
Sharpe ratio: Return per unit of total volatility	2.27	2.64	-0.37
Sortino ratio: Return per unit of downside risk	3.32	3.85	-0.53
Omega ratio: Gain probability vs. loss probability	1.45	1.52	-0.07
Calmar ratio: Return relative to maximum drawdown	3.54	4.08	-0.54
Martin ratio: Return relative to average drawdown	17.65	19.12	-1.47

BUFQ vs. PBQQ - Sharpe Ratio Comparison

The current BUFQ Sharpe Ratio is 2.27, which is comparable to the PBQQ Sharpe Ratio of 2.64. The chart below compares the historical Sharpe Ratios of BUFQ and PBQQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BUFQ vs. PBQQ - Drawdown Comparison

The maximum BUFQ drawdown since its inception was -15.74%, which is greater than PBQQ's maximum drawdown of -12.92%. Use the drawdown chart below to compare losses from any high point for BUFQ and PBQQ.

Drawdown Indicators

	BUFQ	PBQQ	Difference
Max Drawdown Largest peak-to-trough decline	-15.74%	-12.92%	-2.82%
Max Drawdown (1Y) Largest decline over 1 year	-5.39%	-4.71%	-0.68%
Max Drawdown (3Y) Largest decline over 3 years	-15.74%	—	—
Current Drawdown Current decline from peak	-1.53%	-1.02%	-0.51%
Average Drawdown Average peak-to-trough decline	-2.29%	-1.24%	-1.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.08%	1.00%	+0.08%

Volatility

BUFQ vs. PBQQ - Volatility Comparison

FT Vest Laddered Nasdaq Buffer ETF (BUFQ) has a higher volatility of 2.61% compared to PGIM Laddered Nasdaq-100 Buffer 12 ETF (PBQQ) at 2.24%. This indicates that BUFQ's price experiences larger fluctuations and is considered to be riskier than PBQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BUFQ	PBQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.61%	2.24%	+0.37%
Volatility (6M) Calculated over the trailing 6-month period	6.77%	5.77%	+1.00%
Volatility (1Y) Calculated over the trailing 1-year period	8.45%	7.32%	+1.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.31%	11.79%	+1.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.31%	11.79%	+1.52%

BUFQ vs. PBQQ - Expense Ratio Comparison

BUFQ has a 1.10% expense ratio, which is higher than PBQQ's 0.50% expense ratio.

Dividends

BUFQ vs. PBQQ - Dividend Comparison

BUFQ has not paid dividends to shareholders, while PBQQ's dividend yield for the trailing twelve months is around 0.01%.

Position	TTM	2025
BUFQ FT Vest Laddered Nasdaq Buffer ETF	0.00%	0.00%
PBQQ PGIM Laddered Nasdaq-100 Buffer 12 ETF	0.01%	0.01%

Frequently Asked Questions

Can I hold both BUFQ and PBQQ in my portfolio?

With a correlation of 0.93, BUFQ 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 is riskier, BUFQ or PBQQ?

BUFQ has higher volatility (2.61%) compared to PBQQ (2.24%). In terms of maximum drawdown, BUFQ dropped -15.74% vs PBQQ's -12.92%.

Which ETF is better, BUFQ or PBQQ?

On 1-year performance, PBQQ leads with 19.15% vs 19.01% for BUFQ. On fees, PBQQ is cheaper at 0.50% per year. On volatility, PBQQ has been the lower-risk option at 2.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BUFQ or PBQQ?

Over the 1-year period, PBQQ has performed better with a 19.15% return vs 19.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BUFQ or PBQQ?

PBQQ is cheaper with a 0.50% expense ratio, compared with 1.10% for BUFQ.

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

PBQQ has the higher dividend yield at 0.01%, compared with 0.00% for BUFQ.

What is the main difference between BUFQ and PBQQ?

BUFQ is categorized as Nasdaq-100, while PBQQ is Defined Outcome. They also come from different issuers: FT Vest and PGIM. Their fees differ too: 1.10% for BUFQ and 0.50% for PBQQ.

Which has better risk-adjusted returns?

PBQQ currently has the higher Sharpe Ratio (2.64 vs 2.27), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.