BUFR vs. PQAP

Last updated Jun 4, 2026

BUFR (FT Vest Laddered Buffer ETF) and PQAP (PGIM Nasdaq-100 Buffer 12 ETF - April) are both Defined Outcome funds. Both are actively managed. Over the past year, BUFR returned 17.61% vs 21.47% for PQAP. Their correlation of 0.90 suggests significant overlap in exposure. BUFR charges 0.95%/yr vs 0.50%/yr for PQAP.

Performance

BUFR vs. PQAP - Performance Comparison

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

Returns By Period

In the year-to-date period, BUFR achieves a 6.42% return, which is significantly lower than PQAP's 12.09% return.

BUFR

• 1D: -0.21%
• 1M: 2.16%
• YTD: 6.42%
• 6M: 7.11%
• 1Y: 17.61%
• 3Y*: 14.50%
• 5Y*: 9.98%
• 10Y*: —

PQAP

• 1D: -0.12%
• 1M: 2.44%
• YTD: 12.09%
• 6M: 13.01%
• 1Y: 21.47%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BUFR vs. PQAP - Yearly Performance Comparison

	2026 (YTD)	2025
BUFR FT Vest Laddered Buffer ETF	6.42%	12.59%
PQAP PGIM Nasdaq-100 Buffer 12 ETF - April	12.09%	14.48%

Correlation

The correlation between BUFR and PQAP is 0.87, 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	0.87
Correlation (All Time) Calculated using the full available price history since Jan 3, 2025	0.90

The correlation between BUFR and PQAP has been stable across timeframes, ranging from 0.87 to 0.90 - a consistent structural relationship.

Return for Risk

BUFR vs. PQAP — Risk / Return Rank

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

BUFR

BUFR Risk / Return Rank: 84
BUFR Sharpe Ratio Rank: 82
BUFR Sortino Ratio Rank: 86
BUFR Omega Ratio Rank: 87
BUFR Calmar Ratio Rank: 75
BUFR Martin Ratio Rank: 89

PQAP

PQAP Risk / Return Rank: 98
PQAP Sharpe Ratio Rank: 97
PQAP Sortino Ratio Rank: 98
PQAP Omega Ratio Rank: 98
PQAP Calmar Ratio Rank: 98
PQAP Martin Ratio Rank: 98

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.

BUFR vs. PQAP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest Laddered Buffer ETF (BUFR) and PGIM Nasdaq-100 Buffer 12 ETF - April (PQAP). 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.

	BUFR	PQAP	Difference
Sharpe ratio: Return per unit of total volatility	2.71	4.86	-2.14
Sortino ratio: Return per unit of downside risk	3.95	8.47	-4.52
Omega ratio: Gain probability vs. loss probability	1.55	2.20	-0.65
Calmar ratio: Return relative to maximum drawdown	3.84	15.50	-11.66
Martin ratio: Return relative to average drawdown	20.78	86.25	-65.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BUFR vs. PQAP - Sharpe Ratio Comparison

The current BUFR Sharpe Ratio is 2.71, which is lower than the PQAP Sharpe Ratio of 4.86. The chart below compares the historical Sharpe Ratios of BUFR and PQAP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BUFR	PQAP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.71	4.86	-2.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.96	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.07	1.76	-0.69

Drawdowns

BUFR vs. PQAP - Drawdown Comparison

The maximum BUFR drawdown since its inception was -13.73%, which is greater than PQAP's maximum drawdown of -10.79%. Use the drawdown chart below to compare losses from any high point for BUFR and PQAP.

Drawdown Indicators

	BUFR	PQAP	Difference
Max Drawdown Largest peak-to-trough decline	-13.73%	-10.79%	-2.94%
Max Drawdown (1Y) Largest decline over 1 year	-4.61%	-1.39%	-3.22%
Max Drawdown (3Y) Largest decline over 3 years	-12.81%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-13.73%	—	—
Current Drawdown Current decline from peak	-0.21%	-0.12%	-0.09%
Average Drawdown Average peak-to-trough decline	-2.09%	-0.60%	-1.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.85%	0.25%	+0.60%

Volatility

BUFR vs. PQAP - Volatility Comparison

FT Vest Laddered Buffer ETF (BUFR) and PGIM Nasdaq-100 Buffer 12 ETF - April (PQAP) have volatilities of 1.03% and 1.02%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BUFR	PQAP	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.03%	1.02%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	4.95%	3.09%	+1.86%
Volatility (1Y) Calculated over the trailing 1-year period	6.53%	4.45%	+2.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.44%	11.03%	-0.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.23%	11.03%	-0.80%

BUFR vs. PQAP - Expense Ratio Comparison

BUFR has a 0.95% expense ratio, which is higher than PQAP's 0.50% expense ratio.

Dividends

BUFR vs. PQAP - Dividend Comparison

BUFR has not paid dividends to shareholders, while PQAP's dividend yield for the trailing twelve months is around 0.02%.

Position	TTM	2025
BUFR FT Vest Laddered Buffer ETF	0.00%	0.00%
PQAP PGIM Nasdaq-100 Buffer 12 ETF - April	0.02%	0.02%

Frequently Asked Questions

Can I hold both BUFR and PQAP in my portfolio?

BUFR and PQAP have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BUFR or PQAP?

BUFR has higher volatility (1.03%) compared to PQAP (1.02%). In terms of maximum drawdown, BUFR dropped -13.73% vs PQAP's -10.79%.

Which ETF is better, BUFR or PQAP?

On 1-year performance, PQAP leads with 21.47% vs 17.61% for BUFR. On fees, PQAP is cheaper at 0.50% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BUFR or PQAP?

Over the 1-year period, PQAP has performed better with a 21.47% return vs 17.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BUFR or PQAP?

PQAP is cheaper with a 0.50% expense ratio, compared with 0.95% for BUFR.

Which ETF pays a higher dividend yield, BUFR or PQAP?

PQAP has the higher dividend yield at 0.02%, compared with 0.00% for BUFR.

What is the main difference between BUFR and PQAP?

They also come from different issuers: First Trust and PGIM. Their fees differ too: 0.95% for BUFR and 0.50% for PQAP.

Which has better risk-adjusted returns?

PQAP currently has the higher Sharpe Ratio (4.86 vs 2.71), 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.