QQQT vs. PBQQ

Last updated Jun 25, 2026

QQQT (Defiance Nasdaq 100 Income Target ETF) and PBQQ (PGIM Laddered Nasdaq-100 Buffer 12 ETF) are both exchange-traded funds - QQQT is a Nasdaq-100 fund actively managed by Defiance, while PBQQ is a Defined Outcome fund actively managed by PGIM. Both are actively managed. Over the past year, QQQT returned 26.06% vs 17.92% for PBQQ. With a 0.95 correlation, they move nearly in lockstep. QQQT charges 1.05%/yr vs 0.50%/yr for PBQQ.

Performance

QQQT vs. PBQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Nasdaq 100 Income Target ETF (QQQT) 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, QQQT achieves a 14.34% return, which is significantly higher than PBQQ's 8.11% return.

QQQT

• 1D: -0.64%
• 1M: -1.05%
• YTD: 14.34%
• 6M: 12.96%
• 1Y: 26.06%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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)

QQQT vs. PBQQ - Yearly Performance Comparison

	2026 (YTD)	2025
QQQT Defiance Nasdaq 100 Income Target ETF	14.34%	14.04%
PBQQ PGIM Laddered Nasdaq-100 Buffer 12 ETF	8.11%	15.44%

Correlation

The correlation between QQQT and PBQQ is 0.94, 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	0.94
Correlation (All Time) Calculated using the full available price history since Jan 2, 2025	0.95

The correlation between QQQT and PBQQ has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.

Return for Risk

QQQT vs. PBQQ — Risk / Return Rank

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

QQQT

QQQT Risk / Return Rank: 49
QQQT Sharpe Ratio Rank: 52
QQQT Sortino Ratio Rank: 47
QQQT Omega Ratio Rank: 53
QQQT Calmar Ratio Rank: 45
QQQT Martin Ratio Rank: 46

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.

QQQT vs. PBQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Nasdaq 100 Income Target ETF (QQQT) 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.

	QQQT	PBQQ	Difference
Sharpe ratio: Return per unit of total volatility	1.59	2.49	-0.90
Sortino ratio: Return per unit of downside risk	2.15	3.63	-1.48
Omega ratio: Gain probability vs. loss probability	1.30	1.49	-0.19
Calmar ratio: Return relative to maximum drawdown	2.06	3.82	-1.76
Martin ratio: Return relative to average drawdown	7.02	17.84	-10.82

QQQT vs. PBQQ - Sharpe Ratio Comparison

The current QQQT Sharpe Ratio is 1.59, which is lower than the PBQQ Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of QQQT 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

QQQT vs. PBQQ - Drawdown Comparison

The maximum QQQT drawdown since its inception was -22.50%, which is greater than PBQQ's maximum drawdown of -12.92%. Use the drawdown chart below to compare losses from any high point for QQQT and PBQQ.

Drawdown Indicators

	QQQT	PBQQ	Difference
Max Drawdown Largest peak-to-trough decline	-22.50%	-12.92%	-9.58%
Max Drawdown (1Y) Largest decline over 1 year	-12.73%	-4.71%	-8.02%
Current Drawdown Current decline from peak	-4.56%	-1.11%	-3.45%
Average Drawdown Average peak-to-trough decline	-3.98%	-1.24%	-2.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.72%	1.01%	+2.71%

Volatility

QQQT vs. PBQQ - Volatility Comparison

Defiance Nasdaq 100 Income Target ETF (QQQT) has a higher volatility of 8.63% compared to PGIM Laddered Nasdaq-100 Buffer 12 ETF (PBQQ) at 2.24%. This indicates that QQQT'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

	QQQT	PBQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.63%	2.24%	+6.39%
Volatility (6M) Calculated over the trailing 6-month period	13.54%	5.76%	+7.78%
Volatility (1Y) Calculated over the trailing 1-year period	16.55%	7.29%	+9.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.77%	11.77%	+9.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.77%	11.77%	+9.00%

QQQT vs. PBQQ - Expense Ratio Comparison

QQQT has a 1.05% expense ratio, which is higher than PBQQ's 0.50% expense ratio.

Dividends

QQQT vs. PBQQ - Dividend Comparison

QQQT's dividend yield for the trailing twelve months is around 20.02%, more than PBQQ's 0.01% yield.

Position	TTM	2025	2024
PBQQ PGIM Laddered Nasdaq-100 Buffer 12 ETF	0.01%	0.01%	0.00%
QQQT Defiance Nasdaq 100 Income Target ETF	20.02%	21.27%	10.35%

Frequently Asked Questions

Can I hold both QQQT and PBQQ in my portfolio?

With a correlation of 0.94, QQQT and PBQQ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, QQQT or PBQQ?

QQQT has higher volatility (8.63%) compared to PBQQ (2.24%). In terms of maximum drawdown, QQQT dropped -22.50% vs PBQQ's -12.92%.

Which ETF is better, QQQT or PBQQ?

On 1-year performance, QQQT leads with 26.06% vs 17.92% for PBQQ. On fees, PBQQ is cheaper at 0.50% 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, QQQT or PBQQ?

Over the 1-year period, QQQT has performed better with a 26.06% return vs 17.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQQT or PBQQ?

PBQQ is cheaper with a 0.50% expense ratio, compared with 1.05% for QQQT.

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

QQQT has the higher dividend yield at 20.02%, compared with 0.01% for PBQQ.

What is the main difference between QQQT and PBQQ?

QQQT is categorized as Nasdaq-100, while PBQQ is Defined Outcome. They also come from different issuers: Defiance and PGIM. Their fees differ too: 1.05% for QQQT and 0.50% for PBQQ.

Which has better risk-adjusted returns?

PBQQ currently has the higher Sharpe Ratio (2.49 vs 1.59), 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.