QQXT vs. QBUF

Last updated Jun 4, 2026

QQXT (First Trust Nasdaq-100 Ex-Technology Sector Index Fund) and QBUF (Innovator Nasdaq-100 10 Buffer ETF - Quarterly) are both Nasdaq-100 funds - QQXT tracks the NASDAQ-100 Ex-Tech Sector Index while QBUF tracks the Invesco QQQ Trust. Both are passively managed. Over the past year, QQXT returned -0.05% vs 11.93% for QBUF. A 0.56 correlation means they provide meaningful diversification when combined. QQXT charges 0.60%/yr vs 0.79%/yr for QBUF.

Performance

QQXT vs. QBUF - 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 Innovator Nasdaq-100 10 Buffer ETF - Quarterly (QBUF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQXT achieves a -1.57% return, which is significantly lower than QBUF's 4.68% return.

QQXT

• 1D: -0.25%
• 1M: -0.88%
• YTD: -1.57%
• 6M: -1.64%
• 1Y: -0.05%
• 3Y*: 7.28%
• 5Y*: 4.06%
• 10Y*: 10.01%

QBUF

• 1D: -0.01%
• 1M: 0.84%
• YTD: 4.68%
• 6M: 4.57%
• 1Y: 11.93%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QQXT vs. QBUF - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QQXT First Trust Nasdaq-100 Ex-Technology Sector Index Fund	-1.57%	8.02%	6.71%
QBUF Innovator Nasdaq-100 10 Buffer ETF - Quarterly	4.68%	11.08%	5.92%

Correlation

The correlation between QQXT and QBUF is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (All Time) Calculated using the full available price history since Jul 2, 2024	0.56

The correlation between QQXT and QBUF shifts across timeframes, from 0.44 (1 year) to 0.56 (all time), reflecting how their relationship changes across market environments.

QQXT vs. QBUF - Sectors Allocation Comparison

Sectors	QQXT	QBUF
Consumer Cyclical	17.6%	12.5%
Healthcare	16.9%	5.1%
Industrials	16.1%	3.3%
Consumer Defensive	15.1%	8.7%
Communication Services	11.9%	15.8%
Utilities	7.6%	1.6%
Technology	5.7%	50.7%
Energy	3.9%	0.7%
Financial Services	2.0%	0.2%
Basic Materials	1.8%	1.3%
Real Estate	1.4%	0.1%

Return for Risk

QQXT vs. QBUF — Risk / Return Rank

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

QQXT

QQXT Risk / Return Rank: 8
QQXT Sharpe Ratio Rank: 9
QQXT Sortino Ratio Rank: 8
QQXT Omega Ratio Rank: 8
QQXT Calmar Ratio Rank: 9
QQXT Martin Ratio Rank: 9

QBUF

QBUF Risk / Return Rank: 79
QBUF Sharpe Ratio Rank: 70
QBUF Sortino Ratio Rank: 71
QBUF Omega Ratio Rank: 80
QBUF Calmar Ratio Rank: 88
QBUF Martin Ratio Rank: 85

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. QBUF - 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 Innovator Nasdaq-100 10 Buffer ETF - Quarterly (QBUF). 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.

	QQXT	QBUF	Difference
Sharpe ratio: Return per unit of total volatility	-0.00	2.28	-2.28
Sortino ratio: Return per unit of downside risk	0.07	3.20	-3.13
Omega ratio: Gain probability vs. loss probability	1.01	1.48	-0.47
Calmar ratio: Return relative to maximum drawdown	-0.01	5.19	-5.20
Martin ratio: Return relative to average drawdown	-0.01	17.79	-17.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QQXT vs. QBUF - Sharpe Ratio Comparison

The current QQXT Sharpe Ratio is -0.00, which is lower than the QBUF Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of QQXT and QBUF, 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

	QQXT	QBUF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.00	2.28	-2.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.25	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.57	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	1.36	-0.91

Drawdowns

QQXT vs. QBUF - Drawdown Comparison

The maximum QQXT drawdown since its inception was -57.45%, which is greater than QBUF's maximum drawdown of -8.84%. Use the drawdown chart below to compare losses from any high point for QQXT and QBUF.

Drawdown Indicators

	QQXT	QBUF	Difference
Max Drawdown Largest peak-to-trough decline	-57.45%	-8.84%	-48.61%
Max Drawdown (1Y) Largest decline over 1 year	-7.59%	-2.31%	-5.28%
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	-5.98%	-0.01%	-5.97%
Average Drawdown Average peak-to-trough decline	-8.11%	-0.82%	-7.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.18%	0.67%	+2.51%

Volatility

QQXT vs. QBUF - Volatility Comparison

First Trust Nasdaq-100 Ex-Technology Sector Index Fund (QQXT) has a higher volatility of 2.44% compared to Innovator Nasdaq-100 10 Buffer ETF - Quarterly (QBUF) at 0.23%. This indicates that QQXT's price experiences larger fluctuations and is considered to be riskier than QBUF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQXT	QBUF	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.44%	0.23%	+2.21%
Volatility (6M) Calculated over the trailing 6-month period	7.65%	3.88%	+3.77%
Volatility (1Y) Calculated over the trailing 1-year period	10.77%	5.25%	+5.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.25%	8.47%	+7.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.54%	8.47%	+9.07%

QQXT vs. QBUF - Expense Ratio Comparison

QQXT has a 0.60% expense ratio, which is lower than QBUF's 0.79% expense ratio.

Dividends

QQXT vs. QBUF - Dividend Comparison

QQXT's dividend yield for the trailing twelve months is around 1.23%, while QBUF has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QBUF Innovator Nasdaq-100 10 Buffer ETF - Quarterly	0.00%	0.00%	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	1.23%	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 QBUF in my portfolio?

QQXT and QBUF have a correlation of 0.44, 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 QBUF?

QQXT has higher volatility (2.44%) compared to QBUF (0.23%). In terms of maximum drawdown, QQXT dropped -57.45% vs QBUF's -8.84%.

Which ETF is better, QQXT or QBUF?

On 1-year performance, QBUF leads with 11.93% vs -0.05% for QQXT. On fees, QQXT is cheaper at 0.60% per year. On volatility, QBUF has been the lower-risk option at 0.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQXT or QBUF?

Over the 1-year period, QBUF has performed better with a 11.93% return vs -0.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQXT or QBUF?

QQXT is cheaper with a 0.60% expense ratio, compared with 0.79% for QBUF.

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

QQXT has the higher dividend yield at 1.23%, compared with 0.00% for QBUF.

What is the main difference between QQXT and QBUF?

QQXT tracks NASDAQ-100 Ex-Tech Sector Index, while QBUF tracks Invesco QQQ Trust. They also come from different issuers: First Trust and Innovator. Their fees differ too: 0.60% for QQXT and 0.79% for QBUF.

Which has better risk-adjusted returns?

QBUF currently has the higher Sharpe Ratio (2.28 vs -0.00), 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.