PQAP vs. EINC

Last updated Jun 24, 2026

PQAP (PGIM Nasdaq-100 Buffer 12 ETF - April) and EINC (VanEck Energy Income ETF) are both exchange-traded funds - PQAP is a Defined Outcome fund actively managed by PGIM, while EINC is a Energy Equities fund tracking the MVIS North America Energy Infrastructure Index. PQAP is actively managed, while EINC is passively managed. Over the past year, PQAP returned 19.07% vs 29.82% for EINC. At a 0.09 correlation, their price movements are largely independent. PQAP charges 0.50%/yr vs 0.45%/yr for EINC.

Performance

PQAP vs. EINC - Performance Comparison

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

Returns By Period

In the year-to-date period, PQAP achieves a 10.67% return, which is significantly lower than EINC's 25.97% return.

PQAP

• 1D: -0.96%
• 1M: -0.66%
• YTD: 10.67%
• 6M: 10.77%
• 1Y: 19.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —

EINC

• 1D: 1.37%
• 1M: -4.50%
• YTD: 25.97%
• 6M: 25.98%
• 1Y: 29.82%
• 3Y*: 30.36%
• 5Y*: 21.18%
• 10Y*: 12.03%

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

PQAP vs. EINC - Yearly Performance Comparison

	2026 (YTD)	2025
PQAP PGIM Nasdaq-100 Buffer 12 ETF - April	10.67%	14.48%
EINC VanEck Energy Income ETF	25.97%	7.11%

Correlation

The correlation between PQAP and EINC is -0.14, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.14
Correlation (All Time) Calculated using the full available price history since Jan 2, 2025	0.09

The correlation between PQAP and EINC shifts across timeframes, from -0.14 (1 year) to 0.09 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PQAP vs. EINC — Risk / Return Rank

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

PQAP

PQAP Risk / Return Rank: 97
PQAP Sharpe Ratio Rank: 96
PQAP Sortino Ratio Rank: 97
PQAP Omega Ratio Rank: 97
PQAP Calmar Ratio Rank: 96
PQAP Martin Ratio Rank: 98

EINC

EINC Risk / Return Rank: 64
EINC Sharpe Ratio Rank: 63
EINC Sortino Ratio Rank: 60
EINC Omega Ratio Rank: 60
EINC Calmar Ratio Rank: 77
EINC Martin Ratio Rank: 57

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.

PQAP vs. EINC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Nasdaq-100 Buffer 12 ETF - April (PQAP) and VanEck Energy Income ETF (EINC). 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.

	PQAP	EINC	Difference
Sharpe ratio: Return per unit of total volatility	3.86	1.99	+1.88
Sortino ratio: Return per unit of downside risk	6.02	2.67	+3.35
Omega ratio: Gain probability vs. loss probability	1.92	1.35	+0.57
Calmar ratio: Return relative to maximum drawdown	8.93	3.80	+5.13
Martin ratio: Return relative to average drawdown	54.70	9.63	+45.08

PQAP vs. EINC - Sharpe Ratio Comparison

The current PQAP Sharpe Ratio is 3.86, which is higher than the EINC Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of PQAP and EINC, 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

PQAP vs. EINC - Drawdown Comparison

The maximum PQAP drawdown since its inception was -10.79%, smaller than the maximum EINC drawdown of -87.55%. Use the drawdown chart below to compare losses from any high point for PQAP and EINC.

Drawdown Indicators

	PQAP	EINC	Difference
Max Drawdown Largest peak-to-trough decline	-10.79%	-87.55%	+76.76%
Max Drawdown (1Y) Largest decline over 1 year	-2.15%	-7.89%	+5.74%
Max Drawdown (3Y) Largest decline over 3 years	—	-16.01%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-19.87%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-68.85%	—
Current Drawdown Current decline from peak	-1.39%	-4.50%	+3.11%
Average Drawdown Average peak-to-trough decline	-0.61%	-44.15%	+43.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.35%	3.10%	-2.75%

Volatility

PQAP vs. EINC - Volatility Comparison

The current volatility for PGIM Nasdaq-100 Buffer 12 ETF - April (PQAP) is 2.63%, while VanEck Energy Income ETF (EINC) has a volatility of 6.51%. This indicates that PQAP experiences smaller price fluctuations and is considered to be less risky than EINC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PQAP	EINC	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.63%	6.51%	-3.88%
Volatility (6M) Calculated over the trailing 6-month period	3.99%	11.88%	-7.89%
Volatility (1Y) Calculated over the trailing 1-year period	4.99%	15.10%	-10.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.03%	19.54%	-8.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.03%	25.43%	-14.40%

PQAP vs. EINC - Expense Ratio Comparison

PQAP has a 0.50% expense ratio, which is higher than EINC's 0.45% expense ratio.

Dividends

PQAP vs. EINC - Dividend Comparison

PQAP's dividend yield for the trailing twelve months is around 0.02%, less than EINC's 3.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EINC VanEck Energy Income ETF	3.51%	4.51%	3.33%	3.77%	2.89%	6.03%	6.69%	9.66%	11.31%	8.53%	9.71%	28.53%
PQAP PGIM Nasdaq-100 Buffer 12 ETF - April	0.02%	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PQAP and EINC in my portfolio?

PQAP and EINC have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PQAP or EINC?

EINC has higher volatility (6.51%) compared to PQAP (2.63%). In terms of maximum drawdown, PQAP dropped -10.79% vs EINC's -87.55%.

Which ETF is better, PQAP or EINC?

On 1-year performance, EINC leads with 29.82% vs 19.07% for PQAP. On fees, EINC is cheaper at 0.45% per year. On volatility, PQAP has been the lower-risk option at 2.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PQAP or EINC?

Over the 1-year period, EINC has performed better with a 29.82% return vs 19.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PQAP or EINC?

EINC is cheaper with a 0.45% expense ratio, compared with 0.50% for PQAP.

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

EINC has the higher dividend yield at 3.51%, compared with 0.02% for PQAP.

What is the main difference between PQAP and EINC?

PQAP is categorized as Defined Outcome, while EINC is Energy Equities. They also come from different issuers: PGIM and VanEck. Their fees differ too: 0.50% for PQAP and 0.45% for EINC.

Which has better risk-adjusted returns?

PQAP currently has the higher Sharpe Ratio (3.86 vs 1.99), 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.