QQQA vs. PBQQ

Last updated Jun 4, 2026

QQQA (ProShares Nasdaq-100 Dorsey Wright Momentum ETF) and PBQQ (PGIM Laddered Nasdaq-100 Buffer 12 ETF) are both exchange-traded funds - QQQA is a Nasdaq-100 fund tracking the NASDAQ-100 Dorsey Wright Momentum Index - Benchmark TR Gross, while PBQQ is a Defined Outcome fund actively managed by PGIM. QQQA is passively managed, while PBQQ is actively managed. Over the past year, QQQA returned 88.43% vs 20.98% for PBQQ. Their correlation of 0.81 suggests significant overlap in exposure. QQQA charges 0.58%/yr vs 0.50%/yr for PBQQ.

Performance

QQQA vs. PBQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Nasdaq-100 Dorsey Wright Momentum ETF (QQQA) and PGIM Laddered Nasdaq-100 Buffer 12 ETF (PBQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQQA achieves a 65.37% return, which is significantly higher than PBQQ's 9.10% return.

QQQA

• 1D: 2.20%
• 1M: 23.31%
• YTD: 65.37%
• 6M: 67.98%
• 1Y: 88.43%
• 3Y*: 34.58%
• 5Y*: 14.74%
• 10Y*: —

PBQQ

• 1D: -0.21%
• 1M: 2.58%
• YTD: 9.10%
• 6M: 9.79%
• 1Y: 20.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QQQA vs. PBQQ - Yearly Performance Comparison

	2026 (YTD)	2025
QQQA ProShares Nasdaq-100 Dorsey Wright Momentum ETF	65.37%	9.60%
PBQQ PGIM Laddered Nasdaq-100 Buffer 12 ETF	9.10%	15.44%

Correlation

The correlation between QQQA and PBQQ is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.79
Correlation (All Time) Calculated using the full available price history since Jan 3, 2025	0.81

The correlation between QQQA and PBQQ has been stable across timeframes, ranging from 0.79 to 0.81 - a consistent structural relationship.

Return for Risk

QQQA vs. PBQQ — Risk / Return Rank

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

QQQA

QQQA Risk / Return Rank: 90
QQQA Sharpe Ratio Rank: 92
QQQA Sortino Ratio Rank: 87
QQQA Omega Ratio Rank: 87
QQQA Calmar Ratio Rank: 92
QQQA Martin Ratio Rank: 92

PBQQ

PBQQ Risk / Return Rank: 89
PBQQ Sharpe Ratio Rank: 88
PBQQ Sortino Ratio Rank: 91
PBQQ Omega Ratio Rank: 91
PBQQ Calmar Ratio Rank: 83
PBQQ Martin Ratio Rank: 91

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.

QQQA vs. PBQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Nasdaq-100 Dorsey Wright Momentum ETF (QQQA) and PGIM Laddered Nasdaq-100 Buffer 12 ETF (PBQQ). 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.

	QQQA	PBQQ	Difference
Sharpe ratio: Return per unit of total volatility	3.41	2.94	+0.48
Sortino ratio: Return per unit of downside risk	4.00	4.33	-0.34
Omega ratio: Gain probability vs. loss probability	1.54	1.59	-0.05
Calmar ratio: Return relative to maximum drawdown	6.11	4.47	+1.64
Martin ratio: Return relative to average drawdown	22.85	21.36	+1.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QQQA vs. PBQQ - Sharpe Ratio Comparison

The current QQQA Sharpe Ratio is 3.41, which is comparable to the PBQQ Sharpe Ratio of 2.94. The chart below compares the historical Sharpe Ratios of QQQA and PBQQ, 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

	QQQA	PBQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.41	2.94	+0.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.57	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	1.50	-0.92

Drawdowns

QQQA vs. PBQQ - Drawdown Comparison

The maximum QQQA drawdown since its inception was -38.44%, which is greater than PBQQ's maximum drawdown of -12.92%. Use the drawdown chart below to compare losses from any high point for QQQA and PBQQ.

Drawdown Indicators

	QQQA	PBQQ	Difference
Max Drawdown Largest peak-to-trough decline	-38.44%	-12.92%	-25.52%
Max Drawdown (1Y) Largest decline over 1 year	-14.54%	-4.71%	-9.83%
Max Drawdown (3Y) Largest decline over 3 years	-30.84%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-38.44%	—	—
Current Drawdown Current decline from peak	0.00%	-0.21%	+0.21%
Average Drawdown Average peak-to-trough decline	-15.68%	-1.26%	-14.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.88%	0.98%	+2.90%

Volatility

QQQA vs. PBQQ - Volatility Comparison

ProShares Nasdaq-100 Dorsey Wright Momentum ETF (QQQA) has a higher volatility of 10.17% compared to PGIM Laddered Nasdaq-100 Buffer 12 ETF (PBQQ) at 1.07%. This indicates that QQQA's price experiences larger fluctuations and is considered to be riskier than PBQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQA	PBQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.17%	1.07%	+9.10%
Volatility (6M) Calculated over the trailing 6-month period	22.18%	5.51%	+16.67%
Volatility (1Y) Calculated over the trailing 1-year period	26.05%	7.18%	+18.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.83%	11.88%	+13.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.77%	11.88%	+13.89%

QQQA vs. PBQQ - Expense Ratio Comparison

QQQA has a 0.58% expense ratio, which is higher than PBQQ's 0.50% expense ratio.

Dividends

QQQA vs. PBQQ - Dividend Comparison

QQQA's dividend yield for the trailing twelve months is around 0.06%, more than PBQQ's 0.01% yield.

Position	TTM	2025	2024	2023	2022	2021
PBQQ PGIM Laddered Nasdaq-100 Buffer 12 ETF	0.01%	0.01%	0.00%	0.00%	0.00%	0.00%
QQQA ProShares Nasdaq-100 Dorsey Wright Momentum ETF	0.06%	0.10%	0.09%	0.34%	0.28%	0.10%

Frequently Asked Questions

Can I hold both QQQA and PBQQ in my portfolio?

QQQA and PBQQ have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QQQA or PBQQ?

QQQA has higher volatility (10.17%) compared to PBQQ (1.07%). In terms of maximum drawdown, QQQA dropped -38.44% vs PBQQ's -12.92%.

Which ETF is better, QQQA or PBQQ?

On 1-year performance, QQQA leads with 88.43% vs 20.98% for PBQQ. On fees, PBQQ is cheaper at 0.50% per year. On volatility, PBQQ has been the lower-risk option at 1.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQQA or PBQQ?

Over the 1-year period, QQQA has performed better with a 88.43% return vs 20.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQQA or PBQQ?

PBQQ is cheaper with a 0.50% expense ratio, compared with 0.58% for QQQA.

Which ETF pays a higher dividend yield, QQQA or PBQQ?

QQQA has the higher dividend yield at 0.06%, compared with 0.01% for PBQQ.

What is the main difference between QQQA and PBQQ?

QQQA is categorized as Nasdaq-100, while PBQQ is Defined Outcome. They also come from different issuers: ProShares and PGIM. Their fees differ too: 0.58% for QQQA and 0.50% for PBQQ.

Which has better risk-adjusted returns?

QQQA currently has the higher Sharpe Ratio (3.41 vs 2.94), 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.