DLFE vs. QB

Last updated Jul 22, 2026

DLFE (FT Vest U.S. Equity Dual Directional Buffer ETF - February) and QB (ProShares Nasdaq-100 Dynamic Daily Buffer ETF) are both Defined Outcome funds - DLFE tracks the SPDR S&P 500 ETF Trust (SPY) while QB tracks the Nasdaq-100. Both are passively managed. A 0.75 correlation means they provide meaningful diversification when combined. DLFE charges 0.85%/yr vs 0.58%/yr for QB.

Performance

DLFE vs. QB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest U.S. Equity Dual Directional Buffer ETF - February (DLFE) and ProShares Nasdaq-100 Dynamic Daily Buffer ETF (QB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

DLFE

• 1D: 0.36%
• 1M: 0.55%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

QB

• 1D: 0.82%
• 1M: 1.75%
• 6M: 12.90%
• YTD: 13.19%
• 1Y: 19.14%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 18.70%

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

DLFE vs. QB - Yearly Performance Comparison

	2026 (YTD)
DLFE FT Vest U.S. Equity Dual Directional Buffer ETF - February	5.15%
QB ProShares Nasdaq-100 Dynamic Daily Buffer ETF	11.81%

Correlation

The correlation between DLFE and QB is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 23, 2026	0.75

Return for Risk

DLFE vs. QB — Risk / Return Rank

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

DLFE

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

QB

QB Risk / Return Rank: 95
QB Sharpe Ratio Rank: 94
QB Sortino Ratio Rank: 95
QB Omega Ratio Rank: 96
QB Calmar Ratio Rank: 95
QB Martin Ratio Rank: 96

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.

DLFE vs. QB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest U.S. Equity Dual Directional Buffer ETF - February (DLFE) and ProShares Nasdaq-100 Dynamic Daily Buffer ETF (QB). 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.

	DLFE	QB	Difference
Sharpe ratio: Return per unit of total volatility	—	2.72	—
Sortino ratio: Return per unit of downside risk	—	3.97	—
Omega ratio: Gain probability vs. loss probability	—	1.65	—
Calmar ratio: Return relative to maximum drawdown	—	5.53	—
Martin ratio: Return relative to average drawdown	—	26.72	—

Drawdowns

DLFE vs. QB - Drawdown Comparison

The maximum DLFE drawdown since its inception was -5.03%, which is greater than QB's maximum drawdown of -3.47%. Use the drawdown chart below to compare losses from any high point for DLFE and QB.

Drawdown Indicators

	DLFE	QB	Difference
Max Drawdown Largest peak-to-trough decline	-5.03%	-3.47%	-1.56%
Max Drawdown (1Y) Largest decline over 1 year	—	-3.47%	—
Current Drawdown Current decline from peak	-0.19%	0.00%	-0.19%
Average Drawdown Average peak-to-trough decline	-0.80%	-0.42%	-0.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.72%	—

Volatility

Volatility by Period

	DLFE	QB	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.53%	—
Volatility (6M) Calculated over the trailing 6-month period	—	5.87%	—
Volatility (1Y) Calculated over the trailing 1-year period	7.27%	7.07%	+0.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.27%	6.91%	+0.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.27%	6.91%	+0.36%

DLFE vs. QB - Expense Ratio Comparison

DLFE has a 0.85% expense ratio, which is higher than QB's 0.58% expense ratio.

Dividends

DLFE vs. QB - Dividend Comparison

DLFE has not paid dividends to shareholders, while QB's dividend yield for the trailing twelve months is around 0.77%.

Position	TTM	2025
DLFE FT Vest U.S. Equity Dual Directional Buffer ETF - February	0.00%	0.00%
QB ProShares Nasdaq-100 Dynamic Daily Buffer ETF	0.77%	0.48%

Frequently Asked Questions

Can I hold both DLFE and QB in my portfolio?

DLFE and QB have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DLFE or QB?

On fees, QB is cheaper at 0.58% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DLFE or QB?

QB is cheaper with a 0.58% expense ratio, compared with 0.85% for DLFE.

Which ETF pays a higher dividend yield, DLFE or QB?

QB has the higher dividend yield at 0.77%, compared with 0.00% for DLFE.

What is the main difference between DLFE and QB?

DLFE tracks SPDR S&P 500 ETF Trust (SPY), while QB tracks Nasdaq-100. They also come from different issuers: First Trust and ProShares. Their fees differ too: 0.85% for DLFE and 0.58% for QB.