QCJA vs. FDL
QCJA (FT Vest Nasdaq-100 Conservative Buffer ETF - January) and FDL (First Trust Morningstar Dividend Leaders Index Fund) are both exchange-traded funds - QCJA is a Defined Outcome fund actively managed by First Trust, while FDL is a Large Cap Value Equities fund tracking the Morningstar Dividend Leaders Index. QCJA is actively managed, while FDL is passively managed. Over the past year, QCJA returned 12.63% vs 28.15% for FDL. Their 0.09 correlation means their historical movements had little consistent relationship. QCJA charges 0.90%/yr vs 0.43%/yr for FDL.
Performance
QCJA vs. FDL - Performance Comparison
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Returns By Period
In the year-to-date period, QCJA achieves a 5.87% return, which is significantly lower than FDL's 18.62% return.
QCJA
- 1D
- 0.43%
- 1M
- 0.60%
- 6M
- 4.94%
- YTD
- 5.87%
- 1Y
- 12.63%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 11.16%
FDL
- 1D
- 0.39%
- 1M
- 3.67%
- 6M
- 9.83%
- YTD
- 18.62%
- 1Y
- 28.15%
- 3Y*
- 19.02%
- 5Y*
- 14.10%
- 10Y*
- 11.08%
- ALL TIME*
- 8.96%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $51.38M | $49.50M | $43.21M | |
| $112.35K | $94.37K | $197.51K |
QCJA vs. FDL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
QCJA FT Vest Nasdaq-100 Conservative Buffer ETF - January | 5.87% | 11.05% |
FDL First Trust Morningstar Dividend Leaders Index Fund | 18.62% | 12.38% |
Correlation
The correlation between QCJA and FDL is -0.12, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.12 |
Correlation (All Time) Calculated using the full available price history since Jan 21, 2025 | 0.09 |
The correlation between QCJA and FDL shifts across timeframes, from -0.12 (1 year) to 0.09 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
QCJA vs. FDL — Risk / Return Rank
QCJA
FDL
QCJA vs. FDL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FT Vest Nasdaq-100 Conservative Buffer ETF - January (QCJA) and First Trust Morningstar Dividend Leaders Index Fund (FDL). 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.
| QCJA | FDL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.31 | ||
| Sortino ratioReturn per unit of downside risk | -0.59 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.42 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.55 | 6.62 | -4.07 |
| Martin ratioReturn relative to average drawdown | 11.91 | 15.62 | -3.71 |
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Drawdowns
QCJA vs. FDL - Drawdown Comparison
The maximum QCJA drawdown since its inception was -10.67%, smaller than the maximum FDL drawdown of -65.93%. Use the drawdown chart below to compare losses from any high point for QCJA and FDL.
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Drawdown Indicators
| QCJA | FDL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.67% | -65.93% | +55.26% |
Max Drawdown (1Y)Largest decline over 1 year | -4.98% | -4.27% | -0.71% |
Max Drawdown (3Y)Largest decline over 3 years | — | -12.24% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -16.46% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -41.40% | — |
Current DrawdownCurrent decline from peak | -0.15% | -1.58% | +1.43% |
Average DrawdownAverage peak-to-trough decline | -1.13% | -9.59% | +8.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.06% | 1.81% | -0.75% |
Volatility
QCJA vs. FDL - Volatility Comparison
The current volatility for FT Vest Nasdaq-100 Conservative Buffer ETF - January (QCJA) is 1.86%, while First Trust Morningstar Dividend Leaders Index Fund (FDL) has a volatility of 4.65%. This indicates that QCJA experiences smaller price fluctuations and is considered to be less risky than FDL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QCJA | FDL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.86% | 4.65% | -2.79% |
Volatility (6M)Calculated over the trailing 6-month period | 5.16% | 8.75% | -3.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.14% | 11.89% | -5.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.23% | 14.44% | -5.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.23% | 17.16% | -7.93% |
QCJA vs. FDL - Expense Ratio Comparison
QCJA has a 0.90% expense ratio, which is higher than FDL's 0.43% expense ratio.
Dividends
QCJA vs. FDL - Dividend Comparison
QCJA has not paid dividends to shareholders, while FDL's dividend yield for the trailing twelve months is around 3.58%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FDL First Trust Morningstar Dividend Leaders Index Fund | 3.58% | 4.04% | 4.96% | 4.58% | 3.58% | 4.59% | 4.48% | 3.75% | 3.97% | 3.18% | 2.93% | 3.65% |
QCJA FT Vest Nasdaq-100 Conservative Buffer ETF - January | 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
QCJA and FDL 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.
FDL has higher volatility (4.65%) compared to QCJA (1.86%). In terms of maximum drawdown, QCJA dropped -10.67% vs FDL's -65.93%.
On 1-year performance, FDL leads with 28.15% vs 12.63% for QCJA. On fees, FDL is cheaper at 0.43% per year. On volatility, QCJA has been the lower-risk option at 1.86%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, FDL has performed better with a 28.15% return vs 12.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FDL is cheaper with a 0.43% expense ratio, compared with 0.90% for QCJA.
FDL has the higher dividend yield at 3.58%, compared with 0.00% for QCJA.
QCJA is categorized as Defined Outcome, while FDL is Large Cap Value Equities. Their fees differ too: 0.90% for QCJA and 0.43% for FDL.
FDL currently has the higher Sharpe Ratio (2.38 vs 2.07), 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.
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