Which has more room to gain, DQSE or QSPT?

From their prices on Nov 4, 2026, DQSE can gain about 19.8% before its cap and QSPT about 23.7%, so QSPT has more room left this period.

Which resets first, DQSE or QSPT?

DQSE ends its outcome period on Sep 17, 2027 and QSPT on Sep 17, 2027. A new cap is set the day after each.

Which is cheaper, DQSE or QSPT?

DQSE and QSPT both charge 0.90% a year, so neither is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Buffer ETFs

DQSE vs QSPT: Cap, Buffer & Days Left

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As of Nov 4, 2026 DQSE can fall 0.0% before its buffer engages and QSPT 0.0%.

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Net assets on Nov 3, 2026: $24m for FT Vest Nasdaq-100 Dual Directional Buffer ETF - September and $710m for FT Vest Nasdaq-100 Buffer ETF - September.

DQSE on its own →QSPT on its own →

At a glance

0.0%

DQSE can fall this far before its buffer

0.0%

QSPT can fall this far before its buffer

19.8%

DQSE can still gain

23.7%

QSPT can still gain

DQSE Buffer working

DQSE: reference −4.1% since period start, fund −1.6%; buffer 0 to −10; cap +18.8%; Buffer working. Data to Nov 4, 2026.

QSPT Buffer working

QSPT: reference −4.1% since period start, fund −2.2%; buffer 0 to −10; cap +21.9%; Buffer working. Data to Nov 4, 2026.

Data to Nov 4, 2026.

Pair scorecard

Both cost 0.90% a year; QSPT is far larger, $710m against $24m.

Points (pts) are percentage points.

DQSE vs QSPT: Cap, Buffer & Days Left
Measure	DQSE	QSPT
Return
Measure	DQSE	QSPT
Total return, 1 year	not published	+12.2%
Benchmark
Measure	DQSE	QSPT
What it tracks	QQQ	QQQ
Cost and size
Measure	DQSE	QSPT
Expense ratio	0.90%	0.90%
Net assets, as of Nov 3, 2026	$24m	$710m
Holdings
Measure	DQSE	QSPT
Holdings in common	not published

Method

Window by window

Window by window: DQSE vs QSPT: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	DQSE	QSPT	DQSE	QSPT
3 months	–	−0.1%	–	+3.4 pts
6 months	–	+3.4%	–	+3.9 pts
1 year	–	+12.2%	–	+0.4 pts
3 years	–	+58.4%	–	−29.8 pts
Since launchNot the same days: DQSE Sep 2026 · QSPT Sep 2021	−3.2%	+75.7%	+3.5 pts	−13.5 pts

Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. – means no data for this window. Open this comparison in the app →

Side by side

DQSE FT Vest Nasdaq-100 Dual Directional Buffer ETF - September · Absorbs the first 0% to 10% of loss on QQQ and caps the gain at 18.8%, over a period ending Sep 17, 2027 QSPT FT Vest Nasdaq-100 Buffer ETF - September · Absorbs the first 10% of loss on QQQ and caps the gain at 21.9%, over a period ending Sep 17, 2027

Issuer First Trust First Trust

Reference index QQQ QQQ

Buffer 0% to 10% 10%

Outcome period Sep 21, 2026 to Sep 17, 2027 Sep 21, 2026 to Sep 17, 2027

Days left 317 317

Starting cap +18.8% +21.9%

Can still gain 19.8% 23.7%

Fall before buffer 0.0% 0.0%

Protection left, index points 5.9% of 10.0% 5.9% of 10.0%

Index return this period −4.1% −4.1%

Fund return this period −1.6% −2.2%

State today Buffer working Buffer working

Expense ratio 0.90% 0.90%

Net assets, as of Nov 3, 2026 $24m $710m

As of Nov 4, 2026. Source: ETFIQ.

These are two different products. QSPT is a floor fund, which caps how far a holder can fall. DQSE is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.

Both are First Trust funds, so the difference between them is the terms rather than the house.

Where each one stands today

DQSE resets first, on Sep 17, 2027, 317 days from now; QSPT runs to Sep 17, 2027, 317 days. DQSE can still gain 19.8% before its cap, QSPT 23.7%. A fall from here reaches DQSE’s buffer after 0.0% and QSPT’s after 0.0%. Both track QQQ, so what separates them is where each is in its own period.

Alert

About each fund

DQSE

From its price on Nov 4, 2026, the fund can gain about 19.8% more before it reaches its cap. Protection left, in index points: 5.9% of the 10.0% buffer still sits below today's QQQ level. 317 days remained on Nov 4, 2026. On Sep 17, 2027 the period ends and a new cap is set.

QSPT

From its price on Nov 4, 2026, the fund can gain about 23.7% more before it reaches its cap.

Questions people ask

Which has more room to gain, DQSE or QSPT?: From their prices on Nov 4, 2026, DQSE can gain about 19.8% before its cap and QSPT about 23.7%, so QSPT has more room left this period.
Which resets first, DQSE or QSPT?: DQSE ends its outcome period on Sep 17, 2027 and QSPT on Sep 17, 2027. A new cap is set the day after each.
Which is cheaper, DQSE or QSPT?: DQSE and QSPT both charge 0.90% a year, so neither is cheaper. Fees come from each fund's prospectus.

Other comparisons

DQSE vs NOCT DQSE vs PQOC DQSE vs QBUF DQSE vs QBQV QSPT vs QBQF QSPT vs QBQV QSPT vs QBUF QSPT vs PQOC

Where to next

Invesco QQQ Trust →All buffer ETFs ranked by the Downside Cover Score →How the scores are computed →DQSE on its own →QSPT on its own →Method →Standards and sources →

Sources and dates

DQSE and QSPT filings on SEC EDGAR ↗

First Trust page for DQSE ↗

First Trust page for QSPT ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

ETFIQ calculates every number from each issuer’s published outcome-period terms. Buffer ETFs hold options on an index, not shares, so there is no holdings overlap to report.

Every number is an ETFIQ calculation with distributions reinvested.

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ETFIQ, DQSE against QSPT, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/dqse-vs-qspt

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.