UXAP vs. QMAR

Last updated Jun 4, 2026

UXAP (FT Vest U.S. Equity Uncapped Accelerator ETF - April) and QMAR (FT Cboe Vest Nasdaq-100 Buffer ETF - March) are both exchange-traded funds - UXAP is a Defined Outcome fund actively managed by First Trust, while QMAR is a Nasdaq-100 fund actively managed by First Trust. Both are actively managed. Over the past year, UXAP returned 29.33% vs 23.38% for QMAR. Their correlation of 0.88 suggests significant overlap in exposure. UXAP charges 0.85%/yr vs 0.90%/yr for QMAR.

Performance

UXAP vs. QMAR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest U.S. Equity Uncapped Accelerator ETF - April (UXAP) and FT Cboe Vest Nasdaq-100 Buffer ETF - March (QMAR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UXAP achieves a 11.50% return, which is significantly lower than QMAR's 13.06% return.

UXAP

• 1D: -0.66%
• 1M: 5.70%
• YTD: 11.50%
• 6M: 11.41%
• 1Y: 29.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QMAR

• 1D: -0.09%
• 1M: 2.81%
• YTD: 13.06%
• 6M: 14.01%
• 1Y: 23.38%
• 3Y*: 16.73%
• 5Y*: 12.13%
• 10Y*: —

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

UXAP vs. QMAR - Yearly Performance Comparison

	2026 (YTD)	2025
UXAP FT Vest U.S. Equity Uncapped Accelerator ETF - April	11.50%	35.69%
QMAR FT Cboe Vest Nasdaq-100 Buffer ETF - March	13.06%	22.91%

Correlation

The correlation between UXAP and QMAR is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (All Time) Calculated using the full available price history since Apr 22, 2025	0.88

The correlation between UXAP and QMAR has been stable across timeframes, ranging from 0.88 to 0.88 - a consistent structural relationship.

Return for Risk

UXAP vs. QMAR — Risk / Return Rank

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

UXAP

UXAP Risk / Return Rank: 65
UXAP Sharpe Ratio Rank: 67
UXAP Sortino Ratio Rank: 64
UXAP Omega Ratio Rank: 64
UXAP Calmar Ratio Rank: 58
UXAP Martin Ratio Rank: 70

QMAR

QMAR Risk / Return Rank: 96
QMAR Sharpe Ratio Rank: 95
QMAR Sortino Ratio Rank: 97
QMAR Omega Ratio Rank: 97
QMAR Calmar Ratio Rank: 94
QMAR Martin Ratio Rank: 97

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.

UXAP vs. QMAR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest U.S. Equity Uncapped Accelerator ETF - April (UXAP) and FT Cboe Vest Nasdaq-100 Buffer ETF - March (QMAR). 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.

	UXAP	QMAR	Difference
Sharpe ratio: Return per unit of total volatility	2.17	3.86	-1.69
Sortino ratio: Return per unit of downside risk	2.95	6.05	-3.10
Omega ratio: Gain probability vs. loss probability	1.38	1.93	-0.55
Calmar ratio: Return relative to maximum drawdown	2.82	7.31	-4.49
Martin ratio: Return relative to average drawdown	12.81	52.66	-39.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UXAP vs. QMAR - Sharpe Ratio Comparison

The current UXAP Sharpe Ratio is 2.17, which is lower than the QMAR Sharpe Ratio of 3.86. The chart below compares the historical Sharpe Ratios of UXAP and QMAR, 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

	UXAP	QMAR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.17	3.86	-1.69
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	3.18	0.91	+2.28

Drawdowns

UXAP vs. QMAR - Drawdown Comparison

The maximum UXAP drawdown since its inception was -10.45%, smaller than the maximum QMAR drawdown of -19.83%. Use the drawdown chart below to compare losses from any high point for UXAP and QMAR.

Drawdown Indicators

	UXAP	QMAR	Difference
Max Drawdown Largest peak-to-trough decline	-10.45%	-19.83%	+9.38%
Max Drawdown (1Y) Largest decline over 1 year	-10.45%	-3.21%	-7.24%
Max Drawdown (3Y) Largest decline over 3 years	—	-15.91%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-19.83%	—
Current Drawdown Current decline from peak	-0.66%	-0.19%	-0.47%
Average Drawdown Average peak-to-trough decline	-1.24%	-3.28%	+2.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.29%	0.45%	+1.84%

Volatility

UXAP vs. QMAR - Volatility Comparison

FT Vest U.S. Equity Uncapped Accelerator ETF - April (UXAP) has a higher volatility of 3.26% compared to FT Cboe Vest Nasdaq-100 Buffer ETF - March (QMAR) at 1.27%. This indicates that UXAP's price experiences larger fluctuations and is considered to be riskier than QMAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UXAP	QMAR	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.26%	1.27%	+1.99%
Volatility (6M) Calculated over the trailing 6-month period	10.36%	4.85%	+5.51%
Volatility (1Y) Calculated over the trailing 1-year period	13.59%	6.09%	+7.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.15%	13.97%	+0.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.15%	13.85%	+0.30%

UXAP vs. QMAR - Expense Ratio Comparison

UXAP has a 0.85% expense ratio, which is lower than QMAR's 0.90% expense ratio.

Dividends

UXAP vs. QMAR - Dividend Comparison

Neither UXAP nor QMAR has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both UXAP and QMAR in my portfolio?

UXAP and QMAR have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UXAP or QMAR?

UXAP has higher volatility (3.26%) compared to QMAR (1.27%). In terms of maximum drawdown, UXAP dropped -10.45% vs QMAR's -19.83%.

Which ETF is better, UXAP or QMAR?

On 1-year performance, UXAP leads with 29.33% vs 23.38% for QMAR. On fees, UXAP is cheaper at 0.85% per year. On volatility, QMAR has been the lower-risk option at 1.27%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UXAP or QMAR?

Over the 1-year period, UXAP has performed better with a 29.33% return vs 23.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UXAP or QMAR?

UXAP is cheaper with a 0.85% expense ratio, compared with 0.90% for QMAR.

Which ETF pays a higher dividend yield, UXAP or QMAR?

UXAP and QMAR have nearly identical dividend yields, around 0.00%.

What is the main difference between UXAP and QMAR?

UXAP is categorized as Defined Outcome, while QMAR is Nasdaq-100. Their fees differ too: 0.85% for UXAP and 0.90% for QMAR.

Which has better risk-adjusted returns?

QMAR currently has the higher Sharpe Ratio (3.86 vs 2.17), 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.