QDEC vs. FBUF

Last updated Jun 24, 2026

QDEC (FT Vest Nasdaq-100 Buffer ETF – December) and FBUF (Fidelity Dynamic Buffered Equity ETF) are both exchange-traded funds - QDEC is a Nasdaq-100 fund actively managed by FT Vest, while FBUF is a Defined Outcome fund actively managed by Fidelity. Both are actively managed. Over the past year, QDEC returned 22.88% vs 16.49% for FBUF. Their correlation of 0.87 suggests significant overlap in exposure. QDEC charges 0.90%/yr vs 0.48%/yr for FBUF.

Performance

QDEC vs. FBUF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest Nasdaq-100 Buffer ETF – December (QDEC) and Fidelity Dynamic Buffered Equity ETF (FBUF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QDEC achieves a 7.96% return, which is significantly higher than FBUF's 3.62% return.

QDEC

• 1D: -1.24%
• 1M: -0.54%
• YTD: 7.96%
• 6M: 7.20%
• 1Y: 22.88%
• 3Y*: 16.64%
• 5Y*: 10.15%
• 10Y*: —

FBUF

• 1D: -0.89%
• 1M: -0.79%
• YTD: 3.62%
• 6M: 3.09%
• 1Y: 16.49%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QDEC vs. FBUF - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QDEC FT Vest Nasdaq-100 Buffer ETF – December	7.96%	18.12%	11.45%
FBUF Fidelity Dynamic Buffered Equity ETF	3.62%	14.01%	10.55%

Correlation

The correlation between QDEC and FBUF is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (All Time) Calculated using the full available price history since Apr 11, 2024	0.87

The correlation between QDEC and FBUF has been stable across timeframes, ranging from 0.87 to 0.88 - a consistent structural relationship.

Return for Risk

QDEC vs. FBUF — Risk / Return Rank

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

QDEC

QDEC Risk / Return Rank: 76
QDEC Sharpe Ratio Rank: 78
QDEC Sortino Ratio Rank: 79
QDEC Omega Ratio Rank: 79
QDEC Calmar Ratio Rank: 66
QDEC Martin Ratio Rank: 79

FBUF

FBUF Risk / Return Rank: 68
FBUF Sharpe Ratio Rank: 67
FBUF Sortino Ratio Rank: 63
FBUF Omega Ratio Rank: 73
FBUF Calmar Ratio Rank: 63
FBUF Martin Ratio Rank: 72

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.

QDEC vs. FBUF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest Nasdaq-100 Buffer ETF – December (QDEC) and Fidelity Dynamic Buffered Equity ETF (FBUF). 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.

	QDEC	FBUF	Difference
Sharpe ratio: Return per unit of total volatility	2.27	2.05	+0.22
Sortino ratio: Return per unit of downside risk	3.19	2.74	+0.45
Omega ratio: Gain probability vs. loss probability	1.43	1.40	+0.02
Calmar ratio: Return relative to maximum drawdown	3.03	2.95	+0.08
Martin ratio: Return relative to average drawdown	14.26	12.59	+1.67

QDEC vs. FBUF - Sharpe Ratio Comparison

The current QDEC Sharpe Ratio is 2.27, which is comparable to the FBUF Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of QDEC and FBUF, 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

QDEC vs. FBUF - Drawdown Comparison

The maximum QDEC drawdown since its inception was -25.25%, which is greater than FBUF's maximum drawdown of -11.09%. Use the drawdown chart below to compare losses from any high point for QDEC and FBUF.

Drawdown Indicators

	QDEC	FBUF	Difference
Max Drawdown Largest peak-to-trough decline	-25.25%	-11.09%	-14.16%
Max Drawdown (1Y) Largest decline over 1 year	-7.58%	-5.61%	-1.97%
Max Drawdown (3Y) Largest decline over 3 years	-16.08%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-25.25%	—	—
Current Drawdown Current decline from peak	-1.65%	-1.83%	+0.18%
Average Drawdown Average peak-to-trough decline	-4.99%	-1.38%	-3.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.61%	1.31%	+0.30%

Volatility

QDEC vs. FBUF - Volatility Comparison

FT Vest Nasdaq-100 Buffer ETF – December (QDEC) and Fidelity Dynamic Buffered Equity ETF (FBUF) have volatilities of 3.28% and 3.44%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QDEC	FBUF	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.28%	3.44%	-0.16%
Volatility (6M) Calculated over the trailing 6-month period	7.91%	6.11%	+1.80%
Volatility (1Y) Calculated over the trailing 1-year period	10.17%	8.11%	+2.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.75%	9.69%	+5.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.60%	9.69%	+4.91%

QDEC vs. FBUF - Expense Ratio Comparison

QDEC has a 0.90% expense ratio, which is higher than FBUF's 0.48% expense ratio.

Dividends

QDEC vs. FBUF - Dividend Comparison

QDEC has not paid dividends to shareholders, while FBUF's dividend yield for the trailing twelve months is around 0.60%.

Position	TTM	2025	2024
FBUF Fidelity Dynamic Buffered Equity ETF	0.60%	0.64%	0.54%
QDEC FT Vest Nasdaq-100 Buffer ETF – December	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QDEC and FBUF in my portfolio?

QDEC and FBUF have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QDEC or FBUF?

FBUF has higher volatility (3.44%) compared to QDEC (3.28%). In terms of maximum drawdown, QDEC dropped -25.25% vs FBUF's -11.09%.

Which ETF is better, QDEC or FBUF?

On 1-year performance, QDEC leads with 22.88% vs 16.49% for FBUF. On fees, FBUF is cheaper at 0.48% per year. On volatility, QDEC has been the lower-risk option at 3.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QDEC or FBUF?

Over the 1-year period, QDEC has performed better with a 22.88% return vs 16.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QDEC or FBUF?

FBUF is cheaper with a 0.48% expense ratio, compared with 0.90% for QDEC.

Which ETF pays a higher dividend yield, QDEC or FBUF?

FBUF has the higher dividend yield at 0.60%, compared with 0.00% for QDEC.

What is the main difference between QDEC and FBUF?

QDEC is categorized as Nasdaq-100, while FBUF is Defined Outcome. They also come from different issuers: FT Vest and Fidelity. Their fees differ too: 0.90% for QDEC and 0.48% for FBUF.

Which has better risk-adjusted returns?

QDEC currently has the higher Sharpe Ratio (2.27 vs 2.05), 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.