QB vs. PQAP
QB (ProShares Nasdaq-100 Dynamic Daily Buffer ETF) and PQAP (PGIM Nasdaq-100 Buffer 12 ETF - April) are both Defined Outcome funds. QB is passively managed, while PQAP is actively managed. A 0.74 correlation means they provide meaningful diversification when combined. QB charges 0.58%/yr vs 0.50%/yr for PQAP.
Performance
QB vs. PQAP - Performance Comparison
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Returns By Period
In the year-to-date period, QB achieves a 10.47% return, which is significantly lower than PQAP's 12.09% return.
QB
- 1D
- -0.19%
- 1M
- 2.95%
- YTD
- 10.47%
- 6M
- 9.91%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PQAP
- 1D
- -0.12%
- 1M
- 2.44%
- YTD
- 12.09%
- 6M
- 13.01%
- 1Y
- 21.47%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QB vs. PQAP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
QB ProShares Nasdaq-100 Dynamic Daily Buffer ETF | 10.47% | 5.77% |
PQAP PGIM Nasdaq-100 Buffer 12 ETF - April | 12.09% | 6.43% |
Correlation
The correlation between QB and PQAP is 0.74, 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 Jun 27, 2025 | 0.74 |
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Return for Risk
QB vs. PQAP — Risk / Return Rank
QB
PQAP
QB vs. PQAP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Nasdaq-100 Dynamic Daily Buffer ETF (QB) 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| QB | PQAP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 4.86 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 3.17 | 1.76 | +1.41 |
Drawdowns
QB vs. PQAP - Drawdown Comparison
The maximum QB drawdown since its inception was -1.83%, smaller than the maximum PQAP drawdown of -10.79%. Use the drawdown chart below to compare losses from any high point for QB and PQAP.
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Drawdown Indicators
| QB | PQAP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.83% | -10.79% | +8.96% |
Max Drawdown (1Y)Largest decline over 1 year | — | -1.39% | — |
Current DrawdownCurrent decline from peak | -0.30% | -0.12% | -0.18% |
Average DrawdownAverage peak-to-trough decline | -0.34% | -0.60% | +0.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.25% | — |
Volatility
QB vs. PQAP - Volatility Comparison
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Volatility by Period
| QB | PQAP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.02% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 3.09% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 5.75% | 4.45% | +1.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.75% | 11.03% | -5.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.75% | 11.03% | -5.28% |
QB vs. PQAP - Expense Ratio Comparison
QB has a 0.58% expense ratio, which is higher than PQAP's 0.50% expense ratio.
Dividends
QB vs. PQAP - Dividend Comparison
QB's dividend yield for the trailing twelve months is around 0.62%, more than PQAP's 0.02% yield.
| Position | TTM | 2025 |
|---|---|---|
PQAP PGIM Nasdaq-100 Buffer 12 ETF - April | 0.02% | 0.02% |
QB ProShares Nasdaq-100 Dynamic Daily Buffer ETF | 0.62% | 0.48% |
Frequently Asked Questions
QB and PQAP have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PQAP is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PQAP is cheaper with a 0.50% expense ratio, compared with 0.58% for QB.
QB has the higher dividend yield at 0.62%, compared with 0.02% for PQAP.
They also come from different issuers: ProShares and PGIM. Their fees differ too: 0.58% for QB and 0.50% for PQAP.
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