QQQ vs. QCAP

Last updated Jun 30, 2026

QQQ (Invesco QQQ ETF) and QCAP (FT Vest NASDAQ-100 Conservative Buffer ETF - April) are both Nasdaq-100 funds. QQQ is passively managed, while QCAP is actively managed. Over the past year, QQQ returned 32.75% vs 9.20% for QCAP. Their correlation of 0.89 suggests significant overlap in exposure. QQQ charges 0.18%/yr vs 0.90%/yr for QCAP.

Performance

QQQ vs. QCAP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco QQQ ETF (QQQ) and FT Vest NASDAQ-100 Conservative Buffer ETF - April (QCAP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQQ achieves a 18.15% return, which is significantly higher than QCAP's 4.64% return.

QQQ

• 1D: 2.49%
• 1M: -1.82%
• YTD: 18.15%
• 6M: 16.90%
• 1Y: 32.75%
• 3Y*: 25.87%
• 5Y*: 16.05%
• 10Y*: 21.81%

QCAP

• 1D: 0.55%
• 1M: -0.60%
• YTD: 4.64%
• 6M: 4.62%
• 1Y: 9.20%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QQQ vs. QCAP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QQQ Invesco QQQ ETF	18.15%	20.77%	23.86%
QCAP FT Vest NASDAQ-100 Conservative Buffer ETF - April	4.64%	7.13%	10.87%

Correlation

The correlation between QQQ and QCAP is 0.86, 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	0.86
Correlation (All Time) Calculated using the full available price history since Apr 22, 2024	0.89

The correlation between QQQ and QCAP has been stable across timeframes, ranging from 0.86 to 0.89 - a consistent structural relationship.

Return for Risk

QQQ vs. QCAP — Risk / Return Rank

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

QQQ

QQQ Risk / Return Rank: 64
QQQ Sharpe Ratio Rank: 65
QQQ Sortino Ratio Rank: 60
QQQ Omega Ratio Rank: 62
QQQ Calmar Ratio Rank: 65
QQQ Martin Ratio Rank: 65

QCAP

QCAP Risk / Return Rank: 92
QCAP Sharpe Ratio Rank: 90
QCAP Sortino Ratio Rank: 91
QCAP Omega Ratio Rank: 95
QCAP Calmar Ratio Rank: 88
QCAP Martin Ratio Rank: 96

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.

QQQ vs. QCAP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ ETF (QQQ) and FT Vest NASDAQ-100 Conservative Buffer ETF - April (QCAP). 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.

	QQQ	QCAP	Difference
Sharpe ratio: Return per unit of total volatility	1.82	2.53	-0.72
Sortino ratio: Return per unit of downside risk	2.42	3.69	-1.27
Omega ratio: Gain probability vs. loss probability	1.32	1.62	-0.30
Calmar ratio: Return relative to maximum drawdown	2.75	4.39	-1.65
Martin ratio: Return relative to average drawdown	10.06	28.76	-18.69

QQQ vs. QCAP - Sharpe Ratio Comparison

The current QQQ Sharpe Ratio is 1.82, which is comparable to the QCAP Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of QQQ and QCAP, 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

QQQ vs. QCAP - Drawdown Comparison

The maximum QQQ drawdown since its inception was -82.97%, which is greater than QCAP's maximum drawdown of -9.17%. Use the drawdown chart below to compare losses from any high point for QQQ and QCAP.

Drawdown Indicators

	QQQ	QCAP	Difference
Max Drawdown Largest peak-to-trough decline	-82.97%	-9.17%	-73.80%
Max Drawdown (1Y) Largest decline over 1 year	-11.96%	-2.10%	-9.86%
Max Drawdown (3Y) Largest decline over 3 years	-22.77%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-35.12%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-35.12%	—	—
Current Drawdown Current decline from peak	-2.85%	-0.64%	-2.21%
Average Drawdown Average peak-to-trough decline	-32.71%	-0.53%	-32.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.26%	0.32%	+2.94%

Volatility

QQQ vs. QCAP - Volatility Comparison

Invesco QQQ ETF (QQQ) has a higher volatility of 9.43% compared to FT Vest NASDAQ-100 Conservative Buffer ETF - April (QCAP) at 2.70%. This indicates that QQQ's price experiences larger fluctuations and is considered to be riskier than QCAP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQ	QCAP	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.43%	2.70%	+6.73%
Volatility (6M) Calculated over the trailing 6-month period	14.81%	3.25%	+11.56%
Volatility (1Y) Calculated over the trailing 1-year period	18.14%	3.65%	+14.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.72%	8.77%	+13.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.41%	8.77%	+13.64%

QQQ vs. QCAP - Expense Ratio Comparison

QQQ has a 0.18% expense ratio, which is lower than QCAP's 0.90% expense ratio.

Dividends

QQQ vs. QCAP - Dividend Comparison

QQQ's dividend yield for the trailing twelve months is around 0.42%, while QCAP has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
QQQ Invesco QQQ ETF	0.42%	0.45%	0.56%	0.62%	0.80%	0.43%	0.55%	0.74%	0.91%	0.84%	1.06%	0.99%

Frequently Asked Questions

Can I hold both QQQ and QCAP in my portfolio?

QQQ and QCAP have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QQQ or QCAP?

QQQ has higher volatility (9.43%) compared to QCAP (2.70%). In terms of maximum drawdown, QQQ dropped -82.97% vs QCAP's -9.17%.

Which ETF is better, QQQ or QCAP?

On 1-year performance, QQQ leads with 32.75% vs 9.20% for QCAP. On fees, QQQ is cheaper at 0.18% per year. On volatility, QCAP has been the lower-risk option at 2.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQQ or QCAP?

Over the 1-year period, QQQ has performed better with a 32.75% return vs 9.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQQ or QCAP?

QQQ is cheaper with a 0.18% expense ratio, compared with 0.90% for QCAP.

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

QQQ has the higher dividend yield at 0.42%, compared with 0.00% for QCAP.

What is the main difference between QQQ and QCAP?

They also come from different issuers: Invesco and FT Vest. Their fees differ too: 0.18% for QQQ and 0.90% for QCAP.

Which has better risk-adjusted returns?

QCAP currently has the higher Sharpe Ratio (2.53 vs 1.82), 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.