TSEP vs. QB
TSEP (FT Vest Emerging Markets Buffer ETF - September) and QB (ProShares Nasdaq-100 Dynamic Daily Buffer ETF) are both Defined Outcome funds. TSEP is actively managed, while QB is passively managed. A 0.62 correlation means they provide meaningful diversification when combined. TSEP charges 0.95%/yr vs 0.58%/yr for QB.
Performance
TSEP vs. QB - Performance Comparison
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Returns By Period
In the year-to-date period, TSEP achieves a 9.07% return, which is significantly lower than QB's 10.47% return.
TSEP
- 1D
- -0.16%
- 1M
- 1.50%
- YTD
- 9.07%
- 6M
- 10.71%
- 1Y
- 23.98%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QB
- 1D
- -0.19%
- 1M
- 2.95%
- YTD
- 10.47%
- 6M
- 9.91%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TSEP vs. QB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TSEP FT Vest Emerging Markets Buffer ETF - September | 9.07% | 8.89% |
QB ProShares Nasdaq-100 Dynamic Daily Buffer ETF | 10.47% | 5.77% |
Correlation
The correlation between TSEP and QB is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jun 27, 2025 | 0.62 |
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Return for Risk
TSEP vs. QB — Risk / Return Rank
TSEP
QB
TSEP vs. QB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FT Vest Emerging Markets Buffer ETF - September (TSEP) and ProShares Nasdaq-100 Dynamic Daily Buffer ETF (QB). 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.
| TSEP | QB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.47 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.32 | — | — |
| Martin ratioReturn relative to average drawdown | 13.65 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TSEP | QB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.37 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.46 | 3.17 | -1.71 |
Drawdowns
TSEP vs. QB - Drawdown Comparison
The maximum TSEP drawdown since its inception was -9.83%, which is greater than QB's maximum drawdown of -1.83%. Use the drawdown chart below to compare losses from any high point for TSEP and QB.
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Drawdown Indicators
| TSEP | QB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.83% | -1.83% | -8.00% |
Max Drawdown (1Y)Largest decline over 1 year | -7.25% | — | — |
Current DrawdownCurrent decline from peak | -0.16% | -0.30% | +0.14% |
Average DrawdownAverage peak-to-trough decline | -1.69% | -0.34% | -1.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.76% | — | — |
Volatility
TSEP vs. QB - Volatility Comparison
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Volatility by Period
| TSEP | QB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.09% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 7.98% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 10.17% | 5.75% | +4.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.37% | 5.75% | +5.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.37% | 5.75% | +5.62% |
TSEP vs. QB - Expense Ratio Comparison
TSEP has a 0.95% expense ratio, which is higher than QB's 0.58% expense ratio.
Dividends
TSEP vs. QB - Dividend Comparison
TSEP has not paid dividends to shareholders, while QB's dividend yield for the trailing twelve months is around 0.62%.
| Position | TTM | 2025 |
|---|---|---|
QB ProShares Nasdaq-100 Dynamic Daily Buffer ETF | 0.62% | 0.48% |
TSEP FT Vest Emerging Markets Buffer ETF - September | 0.00% | 0.00% |
Frequently Asked Questions
TSEP and QB have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, QB is cheaper at 0.58% per year. The better choice depends on whether you care most about return, fees, risk, or income.
QB is cheaper with a 0.58% expense ratio, compared with 0.95% for TSEP.
QB has the higher dividend yield at 0.62%, compared with 0.00% for TSEP.
They also come from different issuers: First Trust and ProShares. Their fees differ too: 0.95% for TSEP and 0.58% for QB.
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