SQMX vs. DDEC

Last updated Aug 5, 2026

SQMX (FT Vest U.S. Equity Quarterly Max Buffer ETF) and DDEC (FT Vest U.S. Equity Deep Buffer ETF - December) are both Defined Outcome funds from FT Vest tracking the S&P 500. Both are passively managed. Over the past year, SQMX returned 7.85% vs 13.84% for DDEC. Their correlation of 0.84 means they have usually moved in the same direction. Both charge a 0.85% expense ratio.

Performance

SQMX vs. DDEC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest U.S. Equity Quarterly Max Buffer ETF (SQMX) and FT Vest U.S. Equity Deep Buffer ETF - December (DDEC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SQMX achieves a 3.85% return, which is significantly lower than DDEC's 6.84% return.

SQMX

• 1D: 0.51%
• 1M: 1.39%
• 6M: 3.06%
• YTD: 3.85%
• 1Y: 7.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.55%

DDEC

• 1D: 0.50%
• 1M: 1.73%
• 6M: 6.28%
• YTD: 6.84%
• 1Y: 13.84%
• 3Y*: 12.45%
• 5Y*: 8.46%
• 10Y*: —
• ALL TIME*: 8.67%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DDEC FT Vest U.S. Equity Deep Buffer ETF - December	$590.42K	$432.49K	$422.63K
SQMX FT Vest U.S. Equity Quarterly Max Buffer ETF	$296.05K	$262.83K	$328.95K

SQMX vs. DDEC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SQMX FT Vest U.S. Equity Quarterly Max Buffer ETF	3.85%	8.58%	-0.27%
DDEC FT Vest U.S. Equity Deep Buffer ETF - December	6.84%	12.33%	-0.31%

Correlation

The correlation between SQMX and DDEC is 0.79, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.79
Correlation (All Time) Calculated using the full available price history since Dec 23, 2024	0.84

The correlation between SQMX and DDEC has been stable across timeframes, ranging from 0.79 to 0.84 - a consistent structural relationship.

Return for Risk

SQMX vs. DDEC — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SQMX

SQMX Risk / Return Rank: 89
SQMX Sharpe Ratio Rank: 86
SQMX Sortino Ratio Rank: 87
SQMX Omega Ratio Rank: 93
SQMX Calmar Ratio Rank: 88
SQMX Martin Ratio Rank: 91

DDEC

DDEC Risk / Return Rank: 89
DDEC Sharpe Ratio Rank: 89
DDEC Sortino Ratio Rank: 91
DDEC Omega Ratio Rank: 92
DDEC Calmar Ratio Rank: 81
DDEC Martin Ratio Rank: 91

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SQMX vs. DDEC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest U.S. Equity Quarterly Max Buffer ETF (SQMX) and FT Vest U.S. Equity Deep Buffer ETF - December (DDEC). 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.

	SQMX	DDEC	Difference
Sharpe ratio: Return per unit of total volatility	2.23	2.38	-0.15
Sortino ratio: Return per unit of downside risk	3.23	3.51	-0.29
Omega ratio: Gain probability vs. loss probability	1.50	1.47	+0.03
Calmar ratio: Return relative to maximum drawdown	3.87	3.33	+0.55
Martin ratio: Return relative to average drawdown	16.19	16.34	-0.15

SQMX vs. DDEC - Sharpe Ratio Comparison

The current SQMX Sharpe Ratio is 2.23, which is comparable to the DDEC Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of SQMX and DDEC, 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

SQMX vs. DDEC - Drawdown Comparison

The maximum SQMX drawdown since its inception was -7.40%, smaller than the maximum DDEC drawdown of -10.22%. Use the drawdown chart below to compare losses from any high point for SQMX and DDEC.

Drawdown Indicators

	SQMX	DDEC	Difference
Max Drawdown Largest peak-to-trough decline	-7.40%	-10.22%	+2.82%
Max Drawdown (1Y) Largest decline over 1 year	-2.04%	-4.18%	+2.14%
Max Drawdown (3Y) Largest decline over 3 years	—	-9.40%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-10.22%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.51%	-1.82%	+1.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.49%	0.85%	-0.36%

Volatility

SQMX vs. DDEC - Volatility Comparison

The current volatility for FT Vest U.S. Equity Quarterly Max Buffer ETF (SQMX) is 1.19%, while FT Vest U.S. Equity Deep Buffer ETF - December (DDEC) has a volatility of 1.62%. This indicates that SQMX experiences smaller price fluctuations and is considered to be less risky than DDEC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SQMX	DDEC	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.19%	1.62%	-0.43%
Volatility (6M) Calculated over the trailing 6-month period	2.45%	4.67%	-2.22%
Volatility (1Y) Calculated over the trailing 1-year period	3.54%	5.89%	-2.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.03%	7.09%	-1.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.03%	6.84%	-0.81%

SQMX vs. DDEC - Expense Ratio Comparison

Both SQMX and DDEC have an expense ratio of 0.85%.

Dividends

SQMX vs. DDEC - Dividend Comparison

Neither SQMX nor DDEC has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SQMX and DDEC in my portfolio?

SQMX and DDEC have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SQMX or DDEC?

DDEC has higher volatility (1.62%) compared to SQMX (1.19%). In terms of maximum drawdown, SQMX dropped -7.40% vs DDEC's -10.22%.

Which ETF is better, SQMX or DDEC?

On 1-year performance, DDEC leads with 13.84% vs 7.85% for SQMX. Both ETFs have the same 0.85% expense ratio. On volatility, SQMX has been the lower-risk option at 1.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SQMX or DDEC?

Over the 1-year period, DDEC has performed better with a 13.84% return vs 7.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SQMX or DDEC?

SQMX and DDEC have the same expense ratio: 0.85% per year.

Which ETF pays a higher dividend yield, SQMX or DDEC?

SQMX and DDEC have nearly identical dividend yields, around 0.00%.

What is the main difference between SQMX and DDEC?

Both ETFs track S&P 500.

Which has better risk-adjusted returns?

DDEC currently has the higher Sharpe Ratio (2.38 vs 2.23), 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.