QCAP vs. BDRY

Last updated Jun 24, 2026

QCAP (FT Vest NASDAQ-100 Conservative Buffer ETF - April) and BDRY (Breakwave Dry Bulk Shipping ETF) are both exchange-traded funds - QCAP is a Nasdaq-100 fund actively managed by FT Vest, while BDRY is a Commodities fund tracking the Breakwave Dry Freight Futures Index. QCAP is actively managed, while BDRY is passively managed. Over the past year, QCAP returned 9.34% vs 103.63% for BDRY. At a correlation of -0.06, they often move in opposite directions. QCAP charges 0.90%/yr vs 3.76%/yr for BDRY.

Performance

QCAP vs. BDRY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest NASDAQ-100 Conservative Buffer ETF - April (QCAP) and Breakwave Dry Bulk Shipping ETF (BDRY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QCAP achieves a 3.99% return, which is significantly lower than BDRY's 34.21% return.

QCAP

• 1D: -0.96%
• 1M: -0.56%
• YTD: 3.99%
• 6M: 4.11%
• 1Y: 9.34%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BDRY

• 1D: 1.64%
• 1M: -7.14%
• YTD: 34.21%
• 6M: 34.67%
• 1Y: 103.63%
• 3Y*: 24.09%
• 5Y*: -16.41%
• 10Y*: —

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

QCAP vs. BDRY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QCAP FT Vest NASDAQ-100 Conservative Buffer ETF - April	3.99%	7.13%	10.87%
BDRY Breakwave Dry Bulk Shipping ETF	34.21%	44.24%	-55.33%

Correlation

The correlation between QCAP and BDRY is -0.12, 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	-0.12
Correlation (All Time) Calculated using the full available price history since Apr 22, 2024	-0.06

Return for Risk

QCAP vs. BDRY — Risk / Return Rank

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

QCAP

QCAP Risk / Return Rank: 91
QCAP Sharpe Ratio Rank: 87
QCAP Sortino Ratio Rank: 89
QCAP Omega Ratio Rank: 94
QCAP Calmar Ratio Rank: 86
QCAP Martin Ratio Rank: 96

BDRY

BDRY Risk / Return Rank: 75
BDRY Sharpe Ratio Rank: 82
BDRY Sortino Ratio Rank: 67
BDRY Omega Ratio Rank: 63
BDRY Calmar Ratio Rank: 88
BDRY Martin Ratio Rank: 76

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.

QCAP vs. BDRY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest NASDAQ-100 Conservative Buffer ETF - April (QCAP) and Breakwave Dry Bulk Shipping ETF (BDRY). 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.

	QCAP	BDRY	Difference
Sharpe ratio: Return per unit of total volatility	2.60	2.48	+0.12
Sortino ratio: Return per unit of downside risk	3.76	2.90	+0.85
Omega ratio: Gain probability vs. loss probability	1.64	1.36	+0.29
Calmar ratio: Return relative to maximum drawdown	4.46	4.82	-0.36
Martin ratio: Return relative to average drawdown	32.54	13.59	+18.95

QCAP vs. BDRY - Sharpe Ratio Comparison

The current QCAP Sharpe Ratio is 2.60, which is comparable to the BDRY Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of QCAP and BDRY, 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

QCAP vs. BDRY - Drawdown Comparison

The maximum QCAP drawdown since its inception was -9.17%, smaller than the maximum BDRY drawdown of -89.16%. Use the drawdown chart below to compare losses from any high point for QCAP and BDRY.

Drawdown Indicators

	QCAP	BDRY	Difference
Max Drawdown Largest peak-to-trough decline	-9.17%	-89.16%	+79.99%
Max Drawdown (1Y) Largest decline over 1 year	-2.10%	-21.60%	+19.50%
Max Drawdown (3Y) Largest decline over 3 years	—	-69.71%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-89.16%	—
Current Drawdown Current decline from peak	-1.26%	-71.65%	+70.39%
Average Drawdown Average peak-to-trough decline	-0.53%	-58.43%	+57.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.29%	7.65%	-7.36%

Volatility

QCAP vs. BDRY - Volatility Comparison

The current volatility for FT Vest NASDAQ-100 Conservative Buffer ETF - April (QCAP) is 2.66%, while Breakwave Dry Bulk Shipping ETF (BDRY) has a volatility of 7.30%. This indicates that QCAP experiences smaller price fluctuations and is considered to be less risky than BDRY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QCAP	BDRY	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.66%	7.30%	-4.64%
Volatility (6M) Calculated over the trailing 6-month period	3.19%	29.14%	-25.95%
Volatility (1Y) Calculated over the trailing 1-year period	3.63%	42.10%	-38.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.79%	60.24%	-51.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.79%	62.40%	-53.61%

QCAP vs. BDRY - Expense Ratio Comparison

QCAP has a 0.90% expense ratio, which is lower than BDRY's 3.76% expense ratio.

Dividends

QCAP vs. BDRY - Dividend Comparison

Neither QCAP nor BDRY has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both QCAP and BDRY in my portfolio?

QCAP and BDRY have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QCAP or BDRY?

BDRY has higher volatility (7.30%) compared to QCAP (2.66%). In terms of maximum drawdown, QCAP dropped -9.17% vs BDRY's -89.16%.

Which ETF is better, QCAP or BDRY?

On 1-year performance, BDRY leads with 103.63% vs 9.34% for QCAP. On fees, QCAP is cheaper at 0.90% per year. On volatility, QCAP has been the lower-risk option at 2.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QCAP or BDRY?

Over the 1-year period, BDRY has performed better with a 103.63% return vs 9.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QCAP or BDRY?

QCAP is cheaper with a 0.90% expense ratio, compared with 3.76% for BDRY.

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

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

What is the main difference between QCAP and BDRY?

QCAP is categorized as Nasdaq-100, while BDRY is Commodities. They also come from different issuers: FT Vest and ETFMG. Their fees differ too: 0.90% for QCAP and 3.76% for BDRY.

Which has better risk-adjusted returns?

QCAP currently has the higher Sharpe Ratio (2.60 vs 2.48), 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.