QMAG vs. KNG

Last updated Jun 6, 2026

QMAG (FT Vest Nasdaq-100 Moderate Buffer ETF - August) and KNG (FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF) are both exchange-traded funds - QMAG is a Defined Outcome fund actively managed by First Trust, while KNG is a Dividend fund tracking the Cboe S&P 500 Dividend Aristocrats Target Income Index Monthly Series. QMAG is actively managed, while KNG is passively managed. Over the past year, QMAG returned 15.85% vs 9.82% for KNG. At a 0.33 correlation, their price movements are largely independent. QMAG charges 0.90%/yr vs 0.75%/yr for KNG.

Performance

QMAG vs. KNG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest Nasdaq-100 Moderate Buffer ETF - August (QMAG) and FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF (KNG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QMAG achieves a 5.86% return, which is significantly higher than KNG's 3.81% return.

QMAG

• 1D: -0.81%
• 1M: 0.50%
• YTD: 5.86%
• 6M: 5.92%
• 1Y: 15.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —

KNG

• 1D: 0.65%
• 1M: 1.16%
• YTD: 3.81%
• 6M: 4.06%
• 1Y: 9.82%
• 3Y*: 7.72%
• 5Y*: 4.64%
• 10Y*: —

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

QMAG vs. KNG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QMAG FT Vest Nasdaq-100 Moderate Buffer ETF - August	5.86%	13.16%	4.03%
KNG FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF	3.81%	6.63%	-1.54%

Correlation

The correlation between QMAG and KNG is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (All Time) Calculated using the full available price history since Aug 20, 2024	0.33

Return for Risk

QMAG vs. KNG — Risk / Return Rank

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

QMAG

QMAG Risk / Return Rank: 74
QMAG Sharpe Ratio Rank: 73
QMAG Sortino Ratio Rank: 75
QMAG Omega Ratio Rank: 77
QMAG Calmar Ratio Rank: 65
QMAG Martin Ratio Rank: 79

KNG

KNG Risk / Return Rank: 26
KNG Sharpe Ratio Rank: 28
KNG Sortino Ratio Rank: 28
KNG Omega Ratio Rank: 25
KNG Calmar Ratio Rank: 25
KNG Martin Ratio Rank: 23

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.

QMAG vs. KNG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest Nasdaq-100 Moderate Buffer ETF - August (QMAG) and FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF (KNG). 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.

	QMAG	KNG	Difference
Sharpe ratio: Return per unit of total volatility	2.21	0.96	+1.24
Sortino ratio: Return per unit of downside risk	3.14	1.48	+1.66
Omega ratio: Gain probability vs. loss probability	1.43	1.17	+0.26
Calmar ratio: Return relative to maximum drawdown	3.04	1.15	+1.90
Martin ratio: Return relative to average drawdown	14.35	2.95	+11.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QMAG vs. KNG - Sharpe Ratio Comparison

The current QMAG Sharpe Ratio is 2.21, which is higher than the KNG Sharpe Ratio of 0.96. The chart below compares the historical Sharpe Ratios of QMAG and KNG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	QMAG	KNG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.21	0.96	+1.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.34	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.21	0.50	+0.70

Drawdowns

QMAG vs. KNG - Drawdown Comparison

The maximum QMAG drawdown since its inception was -12.44%, smaller than the maximum KNG drawdown of -35.12%. Use the drawdown chart below to compare losses from any high point for QMAG and KNG.

Drawdown Indicators

	QMAG	KNG	Difference
Max Drawdown Largest peak-to-trough decline	-12.44%	-35.12%	+22.68%
Max Drawdown (1Y) Largest decline over 1 year	-5.23%	-8.61%	+3.38%
Max Drawdown (3Y) Largest decline over 3 years	—	-14.24%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-18.20%	—
Current Drawdown Current decline from peak	-0.85%	-4.41%	+3.56%
Average Drawdown Average peak-to-trough decline	-1.16%	-4.13%	+2.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.11%	3.34%	-2.23%

Volatility

QMAG vs. KNG - Volatility Comparison

The current volatility for FT Vest Nasdaq-100 Moderate Buffer ETF - August (QMAG) is 1.05%, while FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF (KNG) has a volatility of 2.33%. This indicates that QMAG experiences smaller price fluctuations and is considered to be less risky than KNG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QMAG	KNG	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.05%	2.33%	-1.28%
Volatility (6M) Calculated over the trailing 6-month period	5.66%	7.45%	-1.79%
Volatility (1Y) Calculated over the trailing 1-year period	7.23%	10.24%	-3.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.89%	13.60%	-2.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.89%	17.18%	-6.29%

QMAG vs. KNG - Expense Ratio Comparison

QMAG has a 0.90% expense ratio, which is higher than KNG's 0.75% expense ratio.

Dividends

QMAG vs. KNG - Dividend Comparison

QMAG has not paid dividends to shareholders, while KNG's dividend yield for the trailing twelve months is around 8.54%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
KNG FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF	8.54%	8.61%	9.08%	5.91%	4.00%	3.45%	3.62%	4.09%	3.46%
QMAG FT Vest Nasdaq-100 Moderate Buffer ETF - August	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 QMAG and KNG in my portfolio?

QMAG and KNG have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QMAG or KNG?

KNG has higher volatility (2.33%) compared to QMAG (1.05%). In terms of maximum drawdown, QMAG dropped -12.44% vs KNG's -35.12%.

Which ETF is better, QMAG or KNG?

On 1-year performance, QMAG leads with 15.85% vs 9.82% for KNG. On fees, KNG is cheaper at 0.75% per year. On volatility, QMAG has been the lower-risk option at 1.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QMAG or KNG?

Over the 1-year period, QMAG has performed better with a 15.85% return vs 9.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QMAG or KNG?

KNG is cheaper with a 0.75% expense ratio, compared with 0.90% for QMAG.

Which ETF pays a higher dividend yield, QMAG or KNG?

KNG has the higher dividend yield at 8.54%, compared with 0.00% for QMAG.

What is the main difference between QMAG and KNG?

QMAG is categorized as Defined Outcome, while KNG is Dividend. Their fees differ too: 0.90% for QMAG and 0.75% for KNG.

Which has better risk-adjusted returns?

QMAG currently has the higher Sharpe Ratio (2.21 vs 0.96), 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.