UXOC vs. PBQQ

Last updated Jun 24, 2026

UXOC (FT Vest U.S. Equity Uncapped Accelerator ETF - October) and PBQQ (PGIM Laddered Nasdaq-100 Buffer 12 ETF) are both Defined Outcome funds. Both are actively managed. Over the past year, UXOC returned 23.99% vs 19.15% for PBQQ. Their correlation of 0.94 suggests significant overlap in exposure. UXOC charges 0.85%/yr vs 0.50%/yr for PBQQ.

Performance

UXOC vs. PBQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest U.S. Equity Uncapped Accelerator ETF - October (UXOC) and PGIM Laddered Nasdaq-100 Buffer 12 ETF (PBQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with UXOC having a 8.00% return and PBQQ slightly higher at 8.21%.

UXOC

• 1D: -1.65%
• 1M: -1.74%
• YTD: 8.00%
• 6M: 6.88%
• 1Y: 23.99%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PBQQ

• 1D: -0.75%
• 1M: -0.22%
• YTD: 8.21%
• 6M: 8.11%
• 1Y: 19.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

UXOC vs. PBQQ - Yearly Performance Comparison

	2026 (YTD)	2025
UXOC FT Vest U.S. Equity Uncapped Accelerator ETF - October	8.00%	17.29%
PBQQ PGIM Laddered Nasdaq-100 Buffer 12 ETF	8.21%	15.44%

Correlation

The correlation between UXOC and PBQQ is 0.93, 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	0.93
Correlation (All Time) Calculated using the full available price history since Jan 2, 2025	0.94

The correlation between UXOC and PBQQ has been stable across timeframes, ranging from 0.93 to 0.94 - a consistent structural relationship.

Return for Risk

UXOC vs. PBQQ — Risk / Return Rank

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

UXOC

UXOC Risk / Return Rank: 56
UXOC Sharpe Ratio Rank: 57
UXOC Sortino Ratio Rank: 53
UXOC Omega Ratio Rank: 54
UXOC Calmar Ratio Rank: 55
UXOC Martin Ratio Rank: 63

PBQQ

PBQQ Risk / Return Rank: 88
PBQQ Sharpe Ratio Rank: 88
PBQQ Sortino Ratio Rank: 91
PBQQ Omega Ratio Rank: 90
PBQQ Calmar Ratio Rank: 83
PBQQ Martin Ratio Rank: 90

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.

UXOC vs. PBQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest U.S. Equity Uncapped Accelerator ETF - October (UXOC) and PGIM Laddered Nasdaq-100 Buffer 12 ETF (PBQQ). 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.

	UXOC	PBQQ	Difference
Sharpe ratio: Return per unit of total volatility	1.73	2.64	-0.91
Sortino ratio: Return per unit of downside risk	2.34	3.85	-1.51
Omega ratio: Gain probability vs. loss probability	1.31	1.52	-0.22
Calmar ratio: Return relative to maximum drawdown	2.45	4.08	-1.63
Martin ratio: Return relative to average drawdown	10.34	19.12	-8.78

UXOC vs. PBQQ - Sharpe Ratio Comparison

The current UXOC Sharpe Ratio is 1.73, which is lower than the PBQQ Sharpe Ratio of 2.64. The chart below compares the historical Sharpe Ratios of UXOC and PBQQ, 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

UXOC vs. PBQQ - Drawdown Comparison

The maximum UXOC drawdown since its inception was -19.93%, which is greater than PBQQ's maximum drawdown of -12.92%. Use the drawdown chart below to compare losses from any high point for UXOC and PBQQ.

Drawdown Indicators

	UXOC	PBQQ	Difference
Max Drawdown Largest peak-to-trough decline	-19.93%	-12.92%	-7.01%
Max Drawdown (1Y) Largest decline over 1 year	-9.81%	-4.71%	-5.10%
Current Drawdown Current decline from peak	-3.75%	-1.02%	-2.73%
Average Drawdown Average peak-to-trough decline	-2.73%	-1.24%	-1.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.33%	1.00%	+1.33%

Volatility

UXOC vs. PBQQ - Volatility Comparison

FT Vest U.S. Equity Uncapped Accelerator ETF - October (UXOC) has a higher volatility of 5.31% compared to PGIM Laddered Nasdaq-100 Buffer 12 ETF (PBQQ) at 2.24%. This indicates that UXOC's price experiences larger fluctuations and is considered to be riskier than PBQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UXOC	PBQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.31%	2.24%	+3.07%
Volatility (6M) Calculated over the trailing 6-month period	10.87%	5.77%	+5.10%
Volatility (1Y) Calculated over the trailing 1-year period	13.95%	7.32%	+6.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.08%	11.79%	+6.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.08%	11.79%	+6.29%

UXOC vs. PBQQ - Expense Ratio Comparison

UXOC has a 0.85% expense ratio, which is higher than PBQQ's 0.50% expense ratio.

Dividends

UXOC vs. PBQQ - Dividend Comparison

UXOC has not paid dividends to shareholders, while PBQQ's dividend yield for the trailing twelve months is around 0.01%.

Position	TTM	2025
PBQQ PGIM Laddered Nasdaq-100 Buffer 12 ETF	0.01%	0.01%
UXOC FT Vest U.S. Equity Uncapped Accelerator ETF - October	0.00%	0.00%

Frequently Asked Questions

Can I hold both UXOC and PBQQ in my portfolio?

With a correlation of 0.93, UXOC and PBQQ 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, UXOC or PBQQ?

UXOC has higher volatility (5.31%) compared to PBQQ (2.24%). In terms of maximum drawdown, UXOC dropped -19.93% vs PBQQ's -12.92%.

Which ETF is better, UXOC or PBQQ?

On 1-year performance, UXOC leads with 23.99% vs 19.15% for PBQQ. On fees, PBQQ is cheaper at 0.50% per year. On volatility, PBQQ has been the lower-risk option at 2.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UXOC or PBQQ?

Over the 1-year period, UXOC has performed better with a 23.99% return vs 19.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UXOC or PBQQ?

PBQQ is cheaper with a 0.50% expense ratio, compared with 0.85% for UXOC.

Which ETF pays a higher dividend yield, UXOC or PBQQ?

PBQQ has the higher dividend yield at 0.01%, compared with 0.00% for UXOC.

What is the main difference between UXOC and PBQQ?

They also come from different issuers: First Trust and PGIM. Their fees differ too: 0.85% for UXOC and 0.50% for PBQQ.

Which has better risk-adjusted returns?

PBQQ currently has the higher Sharpe Ratio (2.64 vs 1.73), 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.