HEQQ vs. QCJL

Last updated Jun 4, 2026

HEQQ (JPMorgan Nasdaq Hedged Equity Laddered Overlay ETF) and QCJL (FT Vest Nasdaq-100 Conservative Buffer ETF - July) are both Nasdaq-100 funds. Over the past year, HEQQ returned 17.08% vs 14.69% for QCJL. Their correlation of 0.86 suggests significant overlap in exposure. HEQQ charges 0.50%/yr vs 0.90%/yr for QCJL.

Performance

HEQQ vs. QCJL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Nasdaq Hedged Equity Laddered Overlay ETF (HEQQ) and FT Vest Nasdaq-100 Conservative Buffer ETF - July (QCJL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HEQQ achieves a 4.67% return, which is significantly lower than QCJL's 5.15% return.

HEQQ

• 1D: -0.15%
• 1M: 0.96%
• YTD: 4.67%
• 6M: 4.45%
• 1Y: 17.08%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QCJL

• 1D: -0.06%
• 1M: 1.24%
• YTD: 5.15%
• 6M: 5.61%
• 1Y: 14.69%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HEQQ vs. QCJL - Yearly Performance Comparison

	2026 (YTD)	2025
HEQQ JPMorgan Nasdaq Hedged Equity Laddered Overlay ETF	4.67%	17.20%
QCJL FT Vest Nasdaq-100 Conservative Buffer ETF - July	5.15%	15.04%

Correlation

The correlation between HEQQ and QCJL is 0.83, 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	0.83
Correlation (All Time) Calculated using the full available price history since Mar 28, 2025	0.86

The correlation between HEQQ and QCJL has been stable across timeframes, ranging from 0.83 to 0.86 - a consistent structural relationship.

Return for Risk

HEQQ vs. QCJL — Risk / Return Rank

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

HEQQ

HEQQ Risk / Return Rank: 59
HEQQ Sharpe Ratio Rank: 64
HEQQ Sortino Ratio Rank: 65
HEQQ Omega Ratio Rank: 69
HEQQ Calmar Ratio Rank: 47
HEQQ Martin Ratio Rank: 53

QCJL

QCJL Risk / Return Rank: 81
QCJL Sharpe Ratio Rank: 78
QCJL Sortino Ratio Rank: 82
QCJL Omega Ratio Rank: 84
QCJL Calmar Ratio Rank: 74
QCJL Martin Ratio Rank: 87

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.

HEQQ vs. QCJL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Nasdaq Hedged Equity Laddered Overlay ETF (HEQQ) and FT Vest Nasdaq-100 Conservative Buffer ETF - July (QCJL). 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.

	HEQQ	QCJL	Difference
Sharpe ratio Return per unit of total volatility	2.11	2.51	-0.40
Sortino ratio Return per unit of downside risk	2.96	3.67	-0.71
Omega ratio Gain probability vs. loss probability	1.41	1.51	-0.10
Calmar ratio Return relative to maximum drawdown	2.25	3.69	-1.44
Martin ratio Return relative to average drawdown	8.86	18.73	-9.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HEQQ vs. QCJL - Sharpe Ratio Comparison

The current HEQQ Sharpe Ratio is 2.11, which is comparable to the QCJL Sharpe Ratio of 2.51. The chart below compares the historical Sharpe Ratios of HEQQ and QCJL, 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

	HEQQ	QCJL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.11	2.51	-0.40
Sharpe Ratio (All Time) Calculated using the full available price history	1.74	1.29	+0.45

Drawdowns

HEQQ vs. QCJL - Drawdown Comparison

The maximum HEQQ drawdown since its inception was -7.64%, smaller than the maximum QCJL drawdown of -11.18%. Use the drawdown chart below to compare losses from any high point for HEQQ and QCJL.

Drawdown Indicators

	HEQQ	QCJL	Difference
Max Drawdown Largest peak-to-trough decline	-7.64%	-11.18%	+3.54%
Max Drawdown (1Y) Largest decline over 1 year	-7.64%	-4.00%	-3.64%
Current Drawdown Current decline from peak	-0.55%	-0.06%	-0.49%
Average Drawdown Average peak-to-trough decline	-1.11%	-1.07%	-0.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.93%	0.79%	+1.14%

Volatility

HEQQ vs. QCJL - Volatility Comparison

JPMorgan Nasdaq Hedged Equity Laddered Overlay ETF (HEQQ) has a higher volatility of 1.33% compared to FT Vest Nasdaq-100 Conservative Buffer ETF - July (QCJL) at 0.39%. This indicates that HEQQ's price experiences larger fluctuations and is considered to be riskier than QCJL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HEQQ	QCJL	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.33%	0.39%	+0.94%
Volatility (6M) Calculated over the trailing 6-month period	6.63%	4.32%	+2.31%
Volatility (1Y) Calculated over the trailing 1-year period	8.14%	5.89%	+2.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.89%	9.48%	+1.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.89%	9.48%	+1.41%

HEQQ vs. QCJL - Expense Ratio Comparison

HEQQ has a 0.50% expense ratio, which is lower than QCJL's 0.90% expense ratio.

Dividends

HEQQ vs. QCJL - Dividend Comparison

HEQQ's dividend yield for the trailing twelve months is around 0.19%, while QCJL has not paid dividends to shareholders.

Position	TTM	2025
HEQQ JPMorgan Nasdaq Hedged Equity Laddered Overlay ETF	0.19%	0.19%
QCJL FT Vest Nasdaq-100 Conservative Buffer ETF - July	0.00%	0.00%

Frequently Asked Questions

Can I hold both HEQQ and QCJL in my portfolio?

HEQQ and QCJL have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HEQQ or QCJL?

HEQQ has higher volatility (1.33%) compared to QCJL (0.39%). In terms of maximum drawdown, HEQQ dropped -7.64% vs QCJL's -11.18%.

Which ETF is better, HEQQ or QCJL?

On 1-year performance, HEQQ leads with 17.08% vs 14.69% for QCJL. On fees, HEQQ is cheaper at 0.50% per year. On volatility, QCJL has been the lower-risk option at 0.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HEQQ or QCJL?

Over the 1-year period, HEQQ has performed better with a 17.08% return vs 14.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HEQQ or QCJL?

HEQQ is cheaper with a 0.50% expense ratio, compared with 0.90% for QCJL.

Which ETF pays a higher dividend yield, HEQQ or QCJL?

HEQQ has the higher dividend yield at 0.19%, compared with 0.00% for QCJL.

What is the main difference between HEQQ and QCJL?

They also come from different issuers: JPMorgan and First Trust. Their fees differ too: 0.50% for HEQQ and 0.90% for QCJL.

Which has better risk-adjusted returns?

QCJL currently has the higher Sharpe Ratio (2.51 vs 2.11), 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.