QQQE vs. PBQQ

Last updated Jun 25, 2026

QQQE (Direxion NASDAQ-100 Equal Weighted Index Shares) and PBQQ (PGIM Laddered Nasdaq-100 Buffer 12 ETF) are both exchange-traded funds - QQQE is a Nasdaq-100 fund tracking the NASDAQ-100 Equal Weighted Index, while PBQQ is a Defined Outcome fund actively managed by PGIM. QQQE is passively managed, while PBQQ is actively managed. Over the past year, QQQE returned 22.98% vs 17.92% for PBQQ. Their correlation of 0.88 suggests significant overlap in exposure. QQQE charges 0.35%/yr vs 0.50%/yr for PBQQ.

Performance

QQQE vs. PBQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) 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, QQQE achieves a 16.37% return, which is significantly higher than PBQQ's 8.11% return.

QQQE

• 1D: -0.05%
• 1M: 1.92%
• YTD: 16.37%
• 6M: 14.73%
• 1Y: 22.98%
• 3Y*: 17.59%
• 5Y*: 9.05%
• 10Y*: 15.78%

PBQQ

• 1D: -0.09%
• 1M: -0.32%
• YTD: 8.11%
• 6M: 7.78%
• 1Y: 17.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QQQE vs. PBQQ - Yearly Performance Comparison

	2026 (YTD)	2025
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares	16.37%	14.58%
PBQQ PGIM Laddered Nasdaq-100 Buffer 12 ETF	8.11%	15.44%

Correlation

The correlation between QQQE and PBQQ is 0.85, 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	0.85
Correlation (All Time) Calculated using the full available price history since Jan 2, 2025	0.88

The correlation between QQQE and PBQQ has been stable across timeframes, ranging from 0.85 to 0.88 - a consistent structural relationship.

Return for Risk

QQQE vs. PBQQ — Risk / Return Rank

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

QQQE

QQQE Risk / Return Rank: 49
QQQE Sharpe Ratio Rank: 47
QQQE Sortino Ratio Rank: 45
QQQE Omega Ratio Rank: 44
QQQE Calmar Ratio Rank: 56
QQQE Martin Ratio Rank: 52

PBQQ

PBQQ Risk / Return Rank: 88
PBQQ Sharpe Ratio Rank: 87
PBQQ Sortino Ratio Rank: 90
PBQQ Omega Ratio Rank: 89
PBQQ Calmar Ratio Rank: 82
PBQQ Martin Ratio Rank: 90

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.

QQQE vs. PBQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) 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.

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.

	QQQE	PBQQ	Difference
Sharpe ratio: Return per unit of total volatility	1.48	2.49	-1.00
Sortino ratio: Return per unit of downside risk	2.05	3.63	-1.58
Omega ratio: Gain probability vs. loss probability	1.26	1.49	-0.23
Calmar ratio: Return relative to maximum drawdown	2.45	3.82	-1.37
Martin ratio: Return relative to average drawdown	8.22	17.84	-9.63

QQQE vs. PBQQ - Sharpe Ratio Comparison

The current QQQE Sharpe Ratio is 1.48, which is lower than the PBQQ Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of QQQE 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.

Drawdowns

QQQE vs. PBQQ - Drawdown Comparison

The maximum QQQE drawdown since its inception was -32.14%, which is greater than PBQQ's maximum drawdown of -12.92%. Use the drawdown chart below to compare losses from any high point for QQQE and PBQQ.

Drawdown Indicators

	QQQE	PBQQ	Difference
Max Drawdown Largest peak-to-trough decline	-32.14%	-12.92%	-19.22%
Max Drawdown (1Y) Largest decline over 1 year	-9.41%	-4.71%	-4.70%
Max Drawdown (3Y) Largest decline over 3 years	-21.38%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-32.14%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-32.14%	—	—
Current Drawdown Current decline from peak	-3.14%	-1.11%	-2.03%
Average Drawdown Average peak-to-trough decline	-5.15%	-1.24%	-3.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.80%	1.01%	+1.79%

Volatility

QQQE vs. PBQQ - Volatility Comparison

Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) has a higher volatility of 8.01% compared to PGIM Laddered Nasdaq-100 Buffer 12 ETF (PBQQ) at 2.24%. This indicates that QQQE'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

	QQQE	PBQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.01%	2.24%	+5.77%
Volatility (6M) Calculated over the trailing 6-month period	12.69%	5.76%	+6.93%
Volatility (1Y) Calculated over the trailing 1-year period	15.65%	7.29%	+8.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.54%	11.77%	+8.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.79%	11.77%	+9.02%

QQQE vs. PBQQ - Expense Ratio Comparison

QQQE has a 0.35% expense ratio, which is lower than PBQQ's 0.50% expense ratio.

Dividends

QQQE vs. PBQQ - Dividend Comparison

QQQE's dividend yield for the trailing twelve months is around 0.57%, more than PBQQ's 0.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PBQQ PGIM Laddered Nasdaq-100 Buffer 12 ETF	0.01%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares	0.57%	0.52%	0.86%	0.79%	0.98%	3.83%	0.54%	0.74%	0.80%	0.65%	1.17%	0.57%

Frequently Asked Questions

Can I hold both QQQE and PBQQ in my portfolio?

QQQE and PBQQ have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QQQE or PBQQ?

QQQE has higher volatility (8.01%) compared to PBQQ (2.24%). In terms of maximum drawdown, QQQE dropped -32.14% vs PBQQ's -12.92%.

Which ETF is better, QQQE or PBQQ?

On 1-year performance, QQQE leads with 22.98% vs 17.92% for PBQQ. On fees, QQQE is cheaper at 0.35% per year. On volatility, PBQQ has been the lower-risk option at 2.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQQE or PBQQ?

Over the 1-year period, QQQE has performed better with a 22.98% return vs 17.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQQE or PBQQ?

QQQE is cheaper with a 0.35% expense ratio, compared with 0.50% for PBQQ.

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

QQQE has the higher dividend yield at 0.57%, compared with 0.01% for PBQQ.

What is the main difference between QQQE and PBQQ?

QQQE is categorized as Nasdaq-100, while PBQQ is Defined Outcome. They also come from different issuers: Direxion and PGIM. Their fees differ too: 0.35% for QQQE and 0.50% for PBQQ.

Which has better risk-adjusted returns?

PBQQ currently has the higher Sharpe Ratio (2.49 vs 1.48), 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.