QSPT vs. TQQQ

Last updated Jun 25, 2026

QSPT (FT Cboe Vest Nasdaq-100 Buffer ETF – September) and TQQQ (ProShares UltraPro QQQ) are both exchange-traded funds - QSPT is a Nasdaq-100 fund actively managed by FT Vest, while TQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (300%). QSPT is actively managed, while TQQQ is passively managed. Over the past 3 years, QSPT returned 17.57%/yr vs 57.21%/yr for TQQQ. With a 0.95 correlation, they move nearly in lockstep. QSPT charges 0.90%/yr vs 0.95%/yr for TQQQ.

Performance

QSPT vs. TQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Cboe Vest Nasdaq-100 Buffer ETF – September (QSPT) and ProShares UltraPro QQQ (TQQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QSPT achieves a 8.24% return, which is significantly lower than TQQQ's 39.27% return.

QSPT

• 1D: -0.35%
• 1M: -0.35%
• YTD: 8.24%
• 6M: 7.49%
• 1Y: 17.33%
• 3Y*: 17.57%
• 5Y*: —
• 10Y*: —

TQQQ

• 1D: -1.53%
• 1M: -5.83%
• YTD: 39.27%
• 6M: 32.62%
• 1Y: 89.02%
• 3Y*: 57.21%
• 5Y*: 21.17%
• 10Y*: 45.25%

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

QSPT vs. TQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
QSPT FT Cboe Vest Nasdaq-100 Buffer ETF – September	8.24%	14.58%	16.07%	43.15%	-20.38%	4.49%
TQQQ ProShares UltraPro QQQ	39.27%	34.35%	58.27%	198.04%	-79.09%	16.94%

Correlation

The correlation between QSPT and TQQQ is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (All Time) Calculated using the full available price history since Sep 20, 2021	0.95

The correlation between QSPT and TQQQ has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.

Return for Risk

QSPT vs. TQQQ — Risk / Return Rank

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

QSPT

QSPT Risk / Return Rank: 62
QSPT Sharpe Ratio Rank: 62
QSPT Sortino Ratio Rank: 61
QSPT Omega Ratio Rank: 65
QSPT Calmar Ratio Rank: 56
QSPT Martin Ratio Rank: 66

TQQQ

TQQQ Risk / Return Rank: 51
TQQQ Sharpe Ratio Rank: 54
TQQQ Sortino Ratio Rank: 46
TQQQ Omega Ratio Rank: 48
TQQQ Calmar Ratio Rank: 55
TQQQ Martin Ratio Rank: 49

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.

QSPT vs. TQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest Nasdaq-100 Buffer ETF – September (QSPT) and ProShares UltraPro QQQ (TQQQ). 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.

	QSPT	TQQQ	Difference
Sharpe ratio: Return per unit of total volatility	1.79	1.68	+0.11
Sortino ratio: Return per unit of downside risk	2.51	2.11	+0.40
Omega ratio: Gain probability vs. loss probability	1.34	1.28	+0.06
Calmar ratio: Return relative to maximum drawdown	2.41	2.42	-0.01
Martin ratio: Return relative to average drawdown	10.65	7.68	+2.97

QSPT vs. TQQQ - Sharpe Ratio Comparison

The current QSPT Sharpe Ratio is 1.79, which is comparable to the TQQQ Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of QSPT and TQQQ, 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

QSPT vs. TQQQ - Drawdown Comparison

The maximum QSPT drawdown since its inception was -22.64%, smaller than the maximum TQQQ drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for QSPT and TQQQ.

Drawdown Indicators

	QSPT	TQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-22.64%	-81.66%	+59.02%
Max Drawdown (1Y) Largest decline over 1 year	-7.23%	-36.97%	+29.74%
Max Drawdown (3Y) Largest decline over 3 years	-15.38%	-58.04%	+42.66%
Max Drawdown (5Y) Largest decline over 5 years	—	-81.66%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-81.66%	—
Current Drawdown Current decline from peak	-1.55%	-15.96%	+14.41%
Average Drawdown Average peak-to-trough decline	-4.56%	-18.49%	+13.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.63%	11.64%	-10.01%

Volatility

QSPT vs. TQQQ - Volatility Comparison

The current volatility for FT Cboe Vest Nasdaq-100 Buffer ETF – September (QSPT) is 3.01%, while ProShares UltraPro QQQ (TQQQ) has a volatility of 27.27%. This indicates that QSPT experiences smaller price fluctuations and is considered to be less risky than TQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QSPT	TQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.01%	27.27%	-24.26%
Volatility (6M) Calculated over the trailing 6-month period	7.81%	43.24%	-35.43%
Volatility (1Y) Calculated over the trailing 1-year period	9.74%	53.35%	-43.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.11%	67.41%	-52.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.11%	66.31%	-51.20%

QSPT vs. TQQQ - Expense Ratio Comparison

QSPT has a 0.90% expense ratio, which is lower than TQQQ's 0.95% expense ratio.

Dividends

QSPT vs. TQQQ - Dividend Comparison

QSPT has not paid dividends to shareholders, while TQQQ's dividend yield for the trailing twelve months is around 0.43%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QSPT FT Cboe Vest Nasdaq-100 Buffer ETF – September	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TQQQ ProShares UltraPro QQQ	0.43%	0.65%	1.27%	1.26%	0.57%	0.00%	0.00%	0.06%	0.11%	0.00%	0.00%	0.01%

Frequently Asked Questions

Can I hold both QSPT and TQQQ in my portfolio?

With a correlation of 0.95, QSPT and TQQQ 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, QSPT or TQQQ?

TQQQ has higher volatility (27.27%) compared to QSPT (3.01%). In terms of maximum drawdown, QSPT dropped -22.64% vs TQQQ's -81.66%.

Which ETF is better, QSPT or TQQQ?

On 3-year performance, TQQQ leads with 57.21% vs 17.57% for QSPT. On fees, QSPT is cheaper at 0.90% per year. On volatility, QSPT has been the lower-risk option at 3.01%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QSPT or TQQQ?

Over the 3-year period, TQQQ has performed better with a 57.21% return vs 17.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QSPT or TQQQ?

QSPT is cheaper with a 0.90% expense ratio, compared with 0.95% for TQQQ.

Which ETF pays a higher dividend yield, QSPT or TQQQ?

TQQQ has the higher dividend yield at 0.43%, compared with 0.00% for QSPT.

What is the main difference between QSPT and TQQQ?

QSPT is categorized as Nasdaq-100, while TQQQ is Leveraged Equities. They also come from different issuers: FT Vest and ProShares. Their fees differ too: 0.90% for QSPT and 0.95% for TQQQ.

Which has better risk-adjusted returns?

QSPT currently has the higher Sharpe Ratio (1.79 vs 1.68), 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.