QQXT vs. PBQQ

Last updated Jun 24, 2026

QQXT (First Trust Nasdaq-100 Ex-Technology Sector Index Fund) and PBQQ (PGIM Laddered Nasdaq-100 Buffer 12 ETF) are both exchange-traded funds - QQXT is a Nasdaq-100 fund tracking the NASDAQ-100 Ex-Tech Sector Index, while PBQQ is a Defined Outcome fund actively managed by PGIM. QQXT is passively managed, while PBQQ is actively managed. Over the past year, QQXT returned 0.72% vs 19.15% for PBQQ. A 0.61 correlation means they provide meaningful diversification when combined. QQXT charges 0.60%/yr vs 0.50%/yr for PBQQ.

Performance

QQXT vs. PBQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Nasdaq-100 Ex-Technology Sector Index Fund (QQXT) 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, QQXT achieves a -2.44% return, which is significantly lower than PBQQ's 8.21% return.

QQXT

• 1D: 0.26%
• 1M: -1.96%
• YTD: -2.44%
• 6M: -2.95%
• 1Y: 0.72%
• 3Y*: 6.63%
• 5Y*: 3.50%
• 10Y*: 10.59%

PBQQ

• 1D: -0.75%
• 1M: -0.22%
• YTD: 8.21%
• 6M: 8.11%
• 1Y: 19.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QQXT vs. PBQQ - Yearly Performance Comparison

	2026 (YTD)	2025
QQXT First Trust Nasdaq-100 Ex-Technology Sector Index Fund	-2.44%	8.02%
PBQQ PGIM Laddered Nasdaq-100 Buffer 12 ETF	8.21%	15.44%

Correlation

The correlation between QQXT and PBQQ is 0.53, 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	0.53
Correlation (All Time) Calculated using the full available price history since Jan 2, 2025	0.61

The correlation between QQXT and PBQQ has been stable across timeframes, ranging from 0.53 to 0.61 - a consistent structural relationship.

Return for Risk

QQXT vs. PBQQ — Risk / Return Rank

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

QQXT

QQXT Risk / Return Rank: 9
QQXT Sharpe Ratio Rank: 10
QQXT Sortino Ratio Rank: 9
QQXT Omega Ratio Rank: 9
QQXT Calmar Ratio Rank: 10
QQXT Martin Ratio Rank: 10

PBQQ

PBQQ Risk / Return Rank: 88
PBQQ Sharpe Ratio Rank: 88
PBQQ Sortino Ratio Rank: 91
PBQQ Omega Ratio Rank: 90
PBQQ Calmar Ratio Rank: 83
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.

QQXT vs. PBQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Nasdaq-100 Ex-Technology Sector Index Fund (QQXT) 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.

	QQXT	PBQQ	Difference
Sharpe ratio: Return per unit of total volatility	0.07	2.64	-2.57
Sortino ratio: Return per unit of downside risk	0.17	3.85	-3.68
Omega ratio: Gain probability vs. loss probability	1.02	1.52	-0.50
Calmar ratio: Return relative to maximum drawdown	0.10	4.08	-3.99
Martin ratio: Return relative to average drawdown	0.21	19.12	-18.91

QQXT vs. PBQQ - Sharpe Ratio Comparison

The current QQXT Sharpe Ratio is 0.07, which is lower than the PBQQ Sharpe Ratio of 2.64. The chart below compares the historical Sharpe Ratios of QQXT 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

QQXT vs. PBQQ - Drawdown Comparison

The maximum QQXT drawdown since its inception was -57.45%, which is greater than PBQQ's maximum drawdown of -12.92%. Use the drawdown chart below to compare losses from any high point for QQXT and PBQQ.

Drawdown Indicators

	QQXT	PBQQ	Difference
Max Drawdown Largest peak-to-trough decline	-57.45%	-12.92%	-44.53%
Max Drawdown (1Y) Largest decline over 1 year	-7.59%	-4.71%	-2.88%
Max Drawdown (3Y) Largest decline over 3 years	-14.92%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-24.74%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-30.40%	—	—
Current Drawdown Current decline from peak	-6.81%	-1.02%	-5.79%
Average Drawdown Average peak-to-trough decline	-8.10%	-1.24%	-6.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.43%	1.00%	+2.43%

Volatility

QQXT vs. PBQQ - Volatility Comparison

First Trust Nasdaq-100 Ex-Technology Sector Index Fund (QQXT) has a higher volatility of 3.00% compared to PGIM Laddered Nasdaq-100 Buffer 12 ETF (PBQQ) at 2.24%. This indicates that QQXT'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

	QQXT	PBQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.00%	2.24%	+0.76%
Volatility (6M) Calculated over the trailing 6-month period	7.95%	5.77%	+2.18%
Volatility (1Y) Calculated over the trailing 1-year period	10.92%	7.32%	+3.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.27%	11.79%	+4.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.49%	11.79%	+5.70%

QQXT vs. PBQQ - Expense Ratio Comparison

QQXT has a 0.60% expense ratio, which is higher than PBQQ's 0.50% expense ratio.

Dividends

QQXT vs. PBQQ - Dividend Comparison

QQXT's dividend yield for the trailing twelve months is around 1.24%, 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%
QQXT First Trust Nasdaq-100 Ex-Technology Sector Index Fund	1.24%	1.20%	0.98%	1.10%	0.92%	0.35%	0.28%	0.35%	0.38%	0.32%	0.31%	0.40%

Frequently Asked Questions

Can I hold both QQXT and PBQQ in my portfolio?

QQXT and PBQQ have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QQXT or PBQQ?

QQXT has higher volatility (3.00%) compared to PBQQ (2.24%). In terms of maximum drawdown, QQXT dropped -57.45% vs PBQQ's -12.92%.

Which ETF is better, QQXT or PBQQ?

On 1-year performance, PBQQ leads with 19.15% vs 0.72% for QQXT. 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, QQXT or PBQQ?

Over the 1-year period, PBQQ has performed better with a 19.15% return vs 0.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQXT or PBQQ?

PBQQ is cheaper with a 0.50% expense ratio, compared with 0.60% for QQXT.

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

QQXT has the higher dividend yield at 1.24%, compared with 0.01% for PBQQ.

What is the main difference between QQXT and PBQQ?

QQXT is categorized as Nasdaq-100, while PBQQ is Defined Outcome. They also come from different issuers: First Trust and PGIM. Their fees differ too: 0.60% for QQXT and 0.50% for PBQQ.

Which has better risk-adjusted returns?

PBQQ currently has the higher Sharpe Ratio (2.64 vs 0.07), 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.