QMFE vs. PMJL

Last updated Aug 1, 2026

QMFE (FT Vest Nasdaq-100 Moderate Buffer ETF - February) and PMJL (PGIM S&P 500 Max Buffer ETF - July) are both Defined Outcome funds. QMFE is passively managed, while PMJL is actively managed. Over the past year, QMFE returned 15.83% vs 6.46% for PMJL. Their 0.76 correlation means they have sometimes moved together and sometimes differently. QMFE charges 0.90%/yr vs 0.50%/yr for PMJL.

Performance

QMFE vs. PMJL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest Nasdaq-100 Moderate Buffer ETF - February (QMFE) and PGIM S&P 500 Max Buffer ETF - July (PMJL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QMFE achieves a 8.49% return, which is significantly higher than PMJL's 3.37% return.

QMFE

• 1D: 0.39%
• 1M: 0.14%
• 6M: 7.38%
• YTD: 8.49%
• 1Y: 15.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.22%

PMJL

• 1D: 0.15%
• 1M: 0.29%
• 6M: 2.95%
• YTD: 3.37%
• 1Y: 6.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.14%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PMJL PGIM S&P 500 Max Buffer ETF - July	$36.76K	$146.37K	$70.94K
QMFE FT Vest Nasdaq-100 Moderate Buffer ETF - February	$172.36K	$105.98K	$195.66K

QMFE vs. PMJL - Yearly Performance Comparison

	2026 (YTD)	2025
QMFE FT Vest Nasdaq-100 Moderate Buffer ETF - February	8.49%	7.36%
PMJL PGIM S&P 500 Max Buffer ETF - July	3.37%	3.17%

Correlation

The correlation between QMFE and PMJL is 0.78, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.78
Correlation (All Time) Calculated using the full available price history since Jul 1, 2025	0.76

The correlation between QMFE and PMJL has been stable across timeframes, ranging from 0.76 to 0.78 - a consistent structural relationship.

Return for Risk

QMFE vs. PMJL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

QMFE

QMFE Risk / Return Rank: 86
QMFE Sharpe Ratio Rank: 85
QMFE Sortino Ratio Rank: 86
QMFE Omega Ratio Rank: 87
QMFE Calmar Ratio Rank: 83
QMFE Martin Ratio Rank: 92

PMJL

PMJL Risk / Return Rank: 96
PMJL Sharpe Ratio Rank: 97
PMJL Sortino Ratio Rank: 97
PMJL Omega Ratio Rank: 97
PMJL Calmar Ratio Rank: 92
PMJL Martin Ratio Rank: 96

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

QMFE vs. PMJL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest Nasdaq-100 Moderate Buffer ETF - February (QMFE) and PGIM S&P 500 Max Buffer ETF - July (PMJL). 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.

	QMFE	PMJL	Difference
Sharpe ratio: Return per unit of total volatility	2.01	3.14	-1.12
Sortino ratio: Return per unit of downside risk	2.93	5.16	-2.23
Omega ratio: Gain probability vs. loss probability	1.39	1.72	-0.33
Calmar ratio: Return relative to maximum drawdown	3.10	4.26	-1.16
Martin ratio: Return relative to average drawdown	15.99	25.86	-9.87

QMFE vs. PMJL - Sharpe Ratio Comparison

The current QMFE Sharpe Ratio is 2.01, which is lower than the PMJL Sharpe Ratio of 3.14. The chart below compares the historical Sharpe Ratios of QMFE and PMJL, 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

QMFE vs. PMJL - Drawdown Comparison

The maximum QMFE drawdown since its inception was -11.85%, which is greater than PMJL's maximum drawdown of -1.49%. Use the drawdown chart below to compare losses from any high point for QMFE and PMJL.

Drawdown Indicators

	QMFE	PMJL	Difference
Max Drawdown Largest peak-to-trough decline	-11.85%	-1.49%	-10.36%
Max Drawdown (1Y) Largest decline over 1 year	-4.81%	-1.49%	-3.32%
Current Drawdown Current decline from peak	-0.87%	-0.05%	-0.82%
Average Drawdown Average peak-to-trough decline	-1.09%	-0.12%	-0.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.93%	0.25%	+0.68%

Volatility

QMFE vs. PMJL - Volatility Comparison

FT Vest Nasdaq-100 Moderate Buffer ETF - February (QMFE) has a higher volatility of 2.24% compared to PGIM S&P 500 Max Buffer ETF - July (PMJL) at 0.59%. This indicates that QMFE's price experiences larger fluctuations and is considered to be riskier than PMJL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QMFE	PMJL	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.24%	0.59%	+1.65%
Volatility (6M) Calculated over the trailing 6-month period	6.23%	1.63%	+4.60%
Volatility (1Y) Calculated over the trailing 1-year period	7.42%	2.03%	+5.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.34%	2.01%	+9.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.34%	2.01%	+9.33%

QMFE vs. PMJL - Expense Ratio Comparison

QMFE has a 0.90% expense ratio, which is higher than PMJL's 0.50% expense ratio.

Dividends

QMFE vs. PMJL - Dividend Comparison

Neither QMFE nor PMJL has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both QMFE and PMJL in my portfolio?

QMFE and PMJL have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QMFE or PMJL?

QMFE has higher volatility (2.24%) compared to PMJL (0.59%). In terms of maximum drawdown, QMFE dropped -11.85% vs PMJL's -1.49%.

Which ETF is better, QMFE or PMJL?

On 1-year performance, QMFE leads with 15.83% vs 6.46% for PMJL. On fees, PMJL is cheaper at 0.50% per year. On volatility, PMJL has been the lower-risk option at 0.59%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QMFE or PMJL?

Over the 1-year period, QMFE has performed better with a 15.83% return vs 6.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QMFE or PMJL?

PMJL is cheaper with a 0.50% expense ratio, compared with 0.90% for QMFE.

Which ETF pays a higher dividend yield, QMFE or PMJL?

QMFE and PMJL have nearly identical dividend yields, around 0.00%.

What is the main difference between QMFE and PMJL?

They also come from different issuers: First Trust and PGIM. Their fees differ too: 0.90% for QMFE and 0.50% for PMJL.

Which has better risk-adjusted returns?

PMJL currently has the higher Sharpe Ratio (3.14 vs 2.01), 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.