XQQI vs. PQAP

Last updated Jun 24, 2026

XQQI (NEOS Boosted Nasdaq-100 High Income ETF) and PQAP (PGIM Nasdaq-100 Buffer 12 ETF - April) are both exchange-traded funds - XQQI is a Nasdaq-100 fund actively managed by NEOS, while PQAP is a Defined Outcome fund actively managed by PGIM. Both are actively managed. Their correlation of 0.90 suggests significant overlap in exposure. XQQI charges 0.98%/yr vs 0.50%/yr for PQAP.

Performance

XQQI vs. PQAP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NEOS Boosted Nasdaq-100 High Income ETF (XQQI) and PGIM Nasdaq-100 Buffer 12 ETF - April (PQAP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

XQQI

• 1D: -3.90%
• 1M: -1.77%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PQAP

• 1D: -0.96%
• 1M: -0.66%
• YTD: 10.67%
• 6M: 10.77%
• 1Y: 19.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XQQI vs. PQAP - Yearly Performance Comparison

	2026 (YTD)
XQQI NEOS Boosted Nasdaq-100 High Income ETF	10.80%
PQAP PGIM Nasdaq-100 Buffer 12 ETF - April	9.89%

Correlation

The correlation between XQQI and PQAP is 0.90, 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 Feb 3, 2026	0.90

Return for Risk

XQQI vs. PQAP — Risk / Return Rank

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

XQQI

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

PQAP

PQAP Risk / Return Rank: 97
PQAP Sharpe Ratio Rank: 96
PQAP Sortino Ratio Rank: 97
PQAP Omega Ratio Rank: 97
PQAP Calmar Ratio Rank: 96
PQAP Martin Ratio Rank: 98

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.

XQQI vs. PQAP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NEOS Boosted Nasdaq-100 High Income ETF (XQQI) and PGIM Nasdaq-100 Buffer 12 ETF - April (PQAP). 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.

	XQQI	PQAP	Difference
Sharpe ratio: Return per unit of total volatility	—	3.86	—
Sortino ratio: Return per unit of downside risk	—	6.02	—
Omega ratio: Gain probability vs. loss probability	—	1.92	—
Calmar ratio: Return relative to maximum drawdown	—	8.93	—
Martin ratio: Return relative to average drawdown	—	54.70	—

Drawdowns

XQQI vs. PQAP - Drawdown Comparison

The maximum XQQI drawdown since its inception was -13.55%, which is greater than PQAP's maximum drawdown of -10.79%. Use the drawdown chart below to compare losses from any high point for XQQI and PQAP.

Drawdown Indicators

	XQQI	PQAP	Difference
Max Drawdown Largest peak-to-trough decline	-13.55%	-10.79%	-2.76%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.15%	—
Current Drawdown Current decline from peak	-5.00%	-1.39%	-3.61%
Average Drawdown Average peak-to-trough decline	-2.95%	-0.61%	-2.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.35%	—

Volatility

Volatility by Period

	XQQI	PQAP	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.63%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.99%	—
Volatility (1Y) Calculated over the trailing 1-year period	26.52%	4.99%	+21.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.52%	11.03%	+15.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.52%	11.03%	+15.49%

XQQI vs. PQAP - Expense Ratio Comparison

XQQI has a 0.98% expense ratio, which is higher than PQAP's 0.50% expense ratio.

Dividends

XQQI vs. PQAP - Dividend Comparison

XQQI's dividend yield for the trailing twelve months is around 8.24%, more than PQAP's 0.02% yield.

Position	TTM	2025
PQAP PGIM Nasdaq-100 Buffer 12 ETF - April	0.02%	0.02%
XQQI NEOS Boosted Nasdaq-100 High Income ETF	8.24%	0.00%

Frequently Asked Questions

Can I hold both XQQI and PQAP in my portfolio?

With a correlation of 0.90, XQQI and PQAP 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 ETF is better, XQQI or PQAP?

On fees, PQAP is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XQQI or PQAP?

PQAP is cheaper with a 0.50% expense ratio, compared with 0.98% for XQQI.

Which ETF pays a higher dividend yield, XQQI or PQAP?

XQQI has the higher dividend yield at 8.24%, compared with 0.02% for PQAP.

What is the main difference between XQQI and PQAP?

XQQI is categorized as Nasdaq-100, while PQAP is Defined Outcome. They also come from different issuers: NEOS and PGIM. Their fees differ too: 0.98% for XQQI and 0.50% for PQAP.