SQMX vs. UXJL

Last updated Jun 5, 2026

SQMX (FT Vest U.S. Equity Quarterly Max Buffer ETF) and UXJL (FT Vest U.S. Equity Uncapped Accelerator ETF - July) are both Defined Outcome funds. SQMX is passively managed, while UXJL is actively managed. Their correlation of 0.86 suggests significant overlap in exposure. Both charge a 0.85% expense ratio.

Performance

SQMX vs. UXJL - 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 Uncapped Accelerator ETF - July (UXJL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SQMX achieves a 2.15% return, which is significantly lower than UXJL's 12.29% return.

SQMX

• 1D: 0.01%
• 1M: 0.50%
• YTD: 2.15%
• 6M: 2.98%
• 1Y: 8.50%
• 3Y*: —
• 5Y*: —
• 10Y*: —

UXJL

• 1D: 0.46%
• 1M: 5.57%
• YTD: 12.29%
• 6M: 12.01%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SQMX vs. UXJL - Yearly Performance Comparison

	2026 (YTD)	2025
SQMX FT Vest U.S. Equity Quarterly Max Buffer ETF	2.15%	3.98%
UXJL FT Vest U.S. Equity Uncapped Accelerator ETF - July	12.29%	9.31%

Correlation

The correlation between SQMX and UXJL is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 22, 2025	0.86

Return for Risk

SQMX vs. UXJL — Risk / Return Rank

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

SQMX

SQMX Risk / Return Rank: 85
SQMX Sharpe Ratio Rank: 80
SQMX Sortino Ratio Rank: 83
SQMX Omega Ratio Rank: 92
SQMX Calmar Ratio Rank: 82
SQMX Martin Ratio Rank: 86

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.

SQMX vs. UXJL - 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 Uncapped Accelerator ETF - July (UXJL). 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.

	SQMX	UXJL	Difference
Sharpe ratio: Return per unit of total volatility	2.54	—	—
Sortino ratio: Return per unit of downside risk	3.67	—	—
Omega ratio: Gain probability vs. loss probability	1.60	—	—
Calmar ratio: Return relative to maximum drawdown	4.19	—	—
Martin ratio: Return relative to average drawdown	17.93	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	SQMX	UXJL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.54	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.17	1.91	-0.75

Drawdowns

SQMX vs. UXJL - Drawdown Comparison

The maximum SQMX drawdown since its inception was -7.40%, smaller than the maximum UXJL drawdown of -10.29%. Use the drawdown chart below to compare losses from any high point for SQMX and UXJL.

Drawdown Indicators

	SQMX	UXJL	Difference
Max Drawdown Largest peak-to-trough decline	-7.40%	-10.29%	+2.89%
Max Drawdown (1Y) Largest decline over 1 year	-2.04%	—	—
Current Drawdown Current decline from peak	0.00%	-0.31%	+0.31%
Average Drawdown Average peak-to-trough decline	-0.55%	-1.51%	+0.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.48%	—	—

Volatility

Volatility by Period

	SQMX	UXJL	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.11%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.72%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.36%	13.88%	-10.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.27%	13.88%	-7.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.27%	13.88%	-7.61%

SQMX vs. UXJL - Expense Ratio Comparison

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

Dividends

SQMX vs. UXJL - Dividend Comparison

Neither SQMX nor UXJL has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SQMX and UXJL in my portfolio?

SQMX and UXJL have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SQMX or UXJL?

Both ETFs have the same 0.85% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SQMX or UXJL?

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

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

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

What is the main difference between SQMX and UXJL?

They also come from different issuers: FT Vest and First Trust.