DDEC vs. QCAP

Last updated Aug 4, 2026

DDEC (FT Vest U.S. Equity Deep Buffer ETF - December) and QCAP (FT Vest NASDAQ-100 Conservative Buffer ETF - April) are both exchange-traded funds - DDEC is a Defined Outcome fund tracking the S&P 500, while QCAP is a Nasdaq-100 fund actively managed by FT Vest. DDEC is passively managed, while QCAP is actively managed. Over the past year, DDEC returned 14.28% vs 8.52% for QCAP. Their correlation of 0.81 means they have usually moved in the same direction. DDEC charges 0.85%/yr vs 0.90%/yr for QCAP.

Performance

DDEC vs. QCAP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest U.S. Equity Deep Buffer ETF - December (DDEC) and FT Vest NASDAQ-100 Conservative Buffer ETF - April (QCAP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DDEC achieves a 6.31% return, which is significantly higher than QCAP's 4.68% return.

DDEC

• 1D: 0.46%
• 1M: 1.22%
• 6M: 5.47%
• YTD: 6.31%
• 1Y: 14.28%
• 3Y*: 12.26%
• 5Y*: 8.39%
• 10Y*: —
• ALL TIME*: 8.58%

QCAP

• 1D: 0.50%
• 1M: 0.26%
• 6M: 4.13%
• YTD: 4.68%
• 1Y: 8.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 10.02%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DDEC FT Vest U.S. Equity Deep Buffer ETF - December	$598.16K	$444.74K	$428.03K
QCAP FT Vest NASDAQ-100 Conservative Buffer ETF - April	$399.17K	$326.02K	$406.28K

DDEC vs. QCAP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DDEC FT Vest U.S. Equity Deep Buffer ETF - December	6.31%	12.33%	9.71%
QCAP FT Vest NASDAQ-100 Conservative Buffer ETF - April	4.68%	7.13%	10.87%

Correlation

The correlation between DDEC and QCAP is 0.80, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.80
Correlation (All Time) Calculated using the full available price history since Apr 22, 2024	0.81

The correlation between DDEC and QCAP has been stable across timeframes, ranging from 0.80 to 0.81 - a consistent structural relationship.

Return for Risk

DDEC vs. QCAP — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DDEC

DDEC Risk / Return Rank: 91
DDEC Sharpe Ratio Rank: 92
DDEC Sortino Ratio Rank: 93
DDEC Omega Ratio Rank: 93
DDEC Calmar Ratio Rank: 85
DDEC Martin Ratio Rank: 92

QCAP

QCAP Risk / Return Rank: 87
QCAP Sharpe Ratio Rank: 82
QCAP Sortino Ratio Rank: 84
QCAP Omega Ratio Rank: 92
QCAP Calmar Ratio Rank: 83
QCAP Martin Ratio Rank: 93

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DDEC vs. QCAP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest U.S. Equity Deep Buffer ETF - December (DDEC) and FT Vest NASDAQ-100 Conservative Buffer ETF - April (QCAP). 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.

	DDEC	QCAP	Difference
Sharpe ratio: Return per unit of total volatility	2.44	2.03	+0.41
Sortino ratio: Return per unit of downside risk	3.62	2.98	+0.64
Omega ratio: Gain probability vs. loss probability	1.49	1.46	+0.02
Calmar ratio: Return relative to maximum drawdown	3.43	3.31	+0.12
Martin ratio: Return relative to average drawdown	16.86	17.91	-1.06

DDEC vs. QCAP - Sharpe Ratio Comparison

The current DDEC Sharpe Ratio is 2.44, which is comparable to the QCAP Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of DDEC and QCAP, 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

DDEC vs. QCAP - Drawdown Comparison

The maximum DDEC drawdown since its inception was -10.22%, which is greater than QCAP's maximum drawdown of -9.17%. Use the drawdown chart below to compare losses from any high point for DDEC and QCAP.

Drawdown Indicators

	DDEC	QCAP	Difference
Max Drawdown Largest peak-to-trough decline	-10.22%	-9.17%	-1.05%
Max Drawdown (1Y) Largest decline over 1 year	-4.18%	-2.58%	-1.60%
Max Drawdown (3Y) Largest decline over 3 years	-9.40%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-10.22%	—	—
Current Drawdown Current decline from peak	0.00%	-0.61%	+0.61%
Average Drawdown Average peak-to-trough decline	-1.82%	-0.55%	-1.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.85%	0.48%	+0.37%

Volatility

DDEC vs. QCAP - Volatility Comparison

The current volatility for FT Vest U.S. Equity Deep Buffer ETF - December (DDEC) is 1.58%, while FT Vest NASDAQ-100 Conservative Buffer ETF - April (QCAP) has a volatility of 2.15%. This indicates that DDEC experiences smaller price fluctuations and is considered to be less risky than QCAP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DDEC	QCAP	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.58%	2.15%	-0.57%
Volatility (6M) Calculated over the trailing 6-month period	4.65%	3.90%	+0.75%
Volatility (1Y) Calculated over the trailing 1-year period	5.88%	4.22%	+1.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.09%	8.71%	-1.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.84%	8.71%	-1.87%

DDEC vs. QCAP - Expense Ratio Comparison

DDEC has a 0.85% expense ratio, which is lower than QCAP's 0.90% expense ratio.

Dividends

DDEC vs. QCAP - Dividend Comparison

Neither DDEC nor QCAP has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both DDEC and QCAP in my portfolio?

DDEC and QCAP have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DDEC or QCAP?

QCAP has higher volatility (2.15%) compared to DDEC (1.58%). In terms of maximum drawdown, DDEC dropped -10.22% vs QCAP's -9.17%.

Which ETF is better, DDEC or QCAP?

On 1-year performance, DDEC leads with 14.28% vs 8.52% for QCAP. On fees, DDEC is cheaper at 0.85% per year. On volatility, DDEC has been the lower-risk option at 1.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DDEC or QCAP?

Over the 1-year period, DDEC has performed better with a 14.28% return vs 8.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DDEC or QCAP?

DDEC is cheaper with a 0.85% expense ratio, compared with 0.90% for QCAP.

Which ETF pays a higher dividend yield, DDEC or QCAP?

DDEC and QCAP have nearly identical dividend yields, around 0.00%.

What is the main difference between DDEC and QCAP?

DDEC is categorized as Defined Outcome, while QCAP is Nasdaq-100. Their fees differ too: 0.85% for DDEC and 0.90% for QCAP.

Which has better risk-adjusted returns?

DDEC currently has the higher Sharpe Ratio (2.44 vs 2.03), 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.