QCAP vs. FTQI

Last updated Jul 14, 2026

QCAP (FT Vest NASDAQ-100 Conservative Buffer ETF - April) and FTQI (First Trust Nasdaq BuyWrite Income ETF) are both Nasdaq-100 funds. QCAP is actively managed, while FTQI is passively managed. Over the past year, QCAP returned 8.73% vs 27.21% for FTQI. Their correlation of 0.83 suggests significant overlap in exposure. QCAP charges 0.90%/yr vs 0.75%/yr for FTQI.

Performance

QCAP vs. FTQI - 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 First Trust Nasdaq BuyWrite Income ETF (FTQI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QCAP achieves a 4.60% return, which is significantly lower than FTQI's 12.96% return.

QCAP

• 1D: -0.42%
• 1M: 0.20%
• 6M: 4.31%
• YTD: 4.60%
• 1Y: 8.73%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FTQI

• 1D: -0.67%
• 1M: 2.11%
• 6M: 11.94%
• YTD: 12.96%
• 1Y: 27.21%
• 3Y*: 16.77%
• 5Y*: 12.02%
• 10Y*: 7.62%

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

QCAP vs. FTQI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QCAP FT Vest NASDAQ-100 Conservative Buffer ETF - April	4.60%	7.13%	10.87%
FTQI First Trust Nasdaq BuyWrite Income ETF	12.96%	12.68%	15.99%

Correlation

The correlation between QCAP and FTQI is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.79
Correlation (All Time) Calculated using the full available price history since Apr 22, 2024	0.83

The correlation between QCAP and FTQI has been stable across timeframes, ranging from 0.79 to 0.83 - a consistent structural relationship.

Return for Risk

QCAP vs. FTQI — Risk / Return Rank

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

QCAP

QCAP Risk / Return Rank: 92
QCAP Sharpe Ratio Rank: 89
QCAP Sortino Ratio Rank: 90
QCAP Omega Ratio Rank: 94
QCAP Calmar Ratio Rank: 89
QCAP Martin Ratio Rank: 96

FTQI

FTQI Risk / Return Rank: 92
FTQI Sharpe Ratio Rank: 92
FTQI Sortino Ratio Rank: 91
FTQI Omega Ratio Rank: 91
FTQI Calmar Ratio Rank: 90
FTQI Martin Ratio Rank: 94

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. FTQI - 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 First Trust Nasdaq BuyWrite Income ETF (FTQI). 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	FTQI	Difference
Sharpe ratio: Return per unit of total volatility	2.32	2.52	-0.20
Sortino ratio: Return per unit of downside risk	3.36	3.48	-0.13
Omega ratio: Gain probability vs. loss probability	1.55	1.47	+0.08
Calmar ratio: Return relative to maximum drawdown	4.17	4.38	-0.21
Martin ratio: Return relative to average drawdown	25.45	20.76	+4.70

QCAP vs. FTQI - Sharpe Ratio Comparison

The current QCAP Sharpe Ratio is 2.32, which is comparable to the FTQI Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of QCAP and FTQI, 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. FTQI - Drawdown Comparison

The maximum QCAP drawdown since its inception was -9.17%, smaller than the maximum FTQI drawdown of -19.42%. Use the drawdown chart below to compare losses from any high point for QCAP and FTQI.

Drawdown Indicators

	QCAP	FTQI	Difference
Max Drawdown Largest peak-to-trough decline	-9.17%	-19.42%	+10.25%
Max Drawdown (1Y) Largest decline over 1 year	-2.10%	-6.24%	+4.14%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.42%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-19.42%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-19.42%	—
Current Drawdown Current decline from peak	-0.68%	-0.67%	-0.01%
Average Drawdown Average peak-to-trough decline	-0.53%	-3.73%	+3.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.34%	1.31%	-0.97%

Volatility

QCAP vs. FTQI - Volatility Comparison

The current volatility for FT Vest NASDAQ-100 Conservative Buffer ETF - April (QCAP) is 2.32%, while First Trust Nasdaq BuyWrite Income ETF (FTQI) has a volatility of 3.29%. This indicates that QCAP experiences smaller price fluctuations and is considered to be less risky than FTQI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QCAP	FTQI	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.32%	3.29%	-0.97%
Volatility (6M) Calculated over the trailing 6-month period	3.43%	8.79%	-5.36%
Volatility (1Y) Calculated over the trailing 1-year period	3.79%	10.86%	-7.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.73%	14.83%	-6.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.73%	13.16%	-4.43%

QCAP vs. FTQI - Expense Ratio Comparison

QCAP has a 0.90% expense ratio, which is higher than FTQI's 0.75% expense ratio.

Dividends

QCAP vs. FTQI - Dividend Comparison

QCAP has not paid dividends to shareholders, while FTQI's dividend yield for the trailing twelve months is around 10.90%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTQI First Trust Nasdaq BuyWrite Income ETF	10.90%	11.46%	11.66%	11.49%	9.85%	3.05%	3.27%	2.95%	3.27%	2.74%	3.02%	3.54%
QCAP FT Vest NASDAQ-100 Conservative Buffer ETF - April	0.00%	0.00%	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 QCAP and FTQI in my portfolio?

QCAP and FTQI have a correlation of 0.79, 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 FTQI?

FTQI has higher volatility (3.29%) compared to QCAP (2.32%). In terms of maximum drawdown, QCAP dropped -9.17% vs FTQI's -19.42%.

Which ETF is better, QCAP or FTQI?

On 1-year performance, FTQI leads with 27.21% vs 8.73% for QCAP. On fees, FTQI is cheaper at 0.75% per year. On volatility, QCAP has been the lower-risk option at 2.32%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QCAP or FTQI?

Over the 1-year period, FTQI has performed better with a 27.21% return vs 8.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QCAP or FTQI?

FTQI is cheaper with a 0.75% expense ratio, compared with 0.90% for QCAP.

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

FTQI has the higher dividend yield at 10.90%, compared with 0.00% for QCAP.

What is the main difference between QCAP and FTQI?

They also come from different issuers: FT Vest and First Trust. Their fees differ too: 0.90% for QCAP and 0.75% for FTQI.

Which has better risk-adjusted returns?

FTQI currently has the higher Sharpe Ratio (2.52 vs 2.32), 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.