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^NDX vs. ONEQ
Performance
Return for Risk
Drawdowns
Volatility

Performance

^NDX vs. ONEQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NASDAQ 100 Index (^NDX) and Fidelity Nasdaq Composite Index ETF (ONEQ). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ^NDX achieves a 17.62% return, which is significantly higher than ONEQ's 13.28% return. Over the past 10 years, ^NDX has outperformed ONEQ with an annualized return of 20.69%, while ONEQ has yielded a comparatively lower 19.31% annualized return.


^NDX

1D
1.26%
1M
2.56%
6M
16.91%
YTD
17.62%
1Y
29.87%
3Y*
25.47%
5Y*
14.93%
10Y*
20.69%

ONEQ

1D
1.20%
1M
1.85%
6M
12.59%
YTD
13.28%
1Y
28.31%
3Y*
25.20%
5Y*
13.43%
10Y*
19.31%
*Multi-year figures are annualized to reflect compound growth (CAGR)

^NDX vs. ONEQ - Yearly Performance Comparison


2026 (YTD)202520242023202220212020201920182017
^NDX
NASDAQ 100 Index
17.62%20.17%24.88%53.81%-32.97%26.63%47.58%37.96%-1.04%31.52%
ONEQ
Fidelity Nasdaq Composite Index ETF
13.28%20.89%29.30%45.73%-32.12%22.11%44.87%38.01%-3.18%29.29%

Correlation

The correlation between ^NDX and ONEQ is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.


Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.97

Correlation (3Y)
Calculated over the trailing 3-year period

0.98

Correlation (5Y)
Calculated over the trailing 5-year period

0.98

Correlation (10Y)
Calculated over the trailing 10-year period

0.98

Correlation (All Time)
Calculated using the full available price history since Oct 1, 2003

0.96

The correlation between ^NDX and ONEQ has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.

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Return for Risk

^NDX vs. ONEQ — Risk / Return Rank

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

^NDX
^NDX Risk / Return Rank: 7272
Overall Rank
^NDX Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
^NDX Sortino Ratio Rank: 6868
Sortino Ratio Rank
^NDX Omega Ratio Rank: 6868
Omega Ratio Rank
^NDX Calmar Ratio Rank: 7979
Calmar Ratio Rank
^NDX Martin Ratio Rank: 7272
Martin Ratio Rank

ONEQ
ONEQ Risk / Return Rank: 5656
Overall Rank
ONEQ Sharpe Ratio Rank: 5858
Sharpe Ratio Rank
ONEQ Sortino Ratio Rank: 5656
Sortino Ratio Rank
ONEQ Omega Ratio Rank: 5555
Omega Ratio Rank
ONEQ Calmar Ratio Rank: 5555
Calmar Ratio Rank
ONEQ Martin Ratio Rank: 5757
Martin Ratio Rank
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.

^NDX vs. ONEQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NASDAQ 100 Index (^NDX) and Fidelity Nasdaq Composite Index ETF (ONEQ). 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.


^NDXONEQDifference
Sharpe ratioReturn per unit of total volatility

+0.02

Sortino ratioReturn per unit of downside risk

0.00

Omega ratioGain probability vs. loss probability

1.29

1.29

0.00

Calmar ratioReturn relative to maximum drawdown

2.48

2.25

+0.22

Martin ratioReturn relative to average drawdown

8.97

8.27

+0.69

^NDX vs. ONEQ - Sharpe Ratio Comparison

The current ^NDX Sharpe Ratio is 1.64, which is comparable to the ONEQ Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of ^NDX and ONEQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.


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Drawdowns

^NDX vs. ONEQ - Drawdown Comparison

The maximum ^NDX drawdown since its inception was -82.90%, which is greater than ONEQ's maximum drawdown of -55.09%. Use the drawdown chart below to compare losses from any high point for ^NDX and ONEQ.


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Drawdown Indicators


^NDXONEQDifference

Max Drawdown

Largest peak-to-trough decline

-82.90%

-55.09%

-27.81%

Max Drawdown (1Y)

Largest decline over 1 year

-12.12%

-12.64%

+0.52%

Max Drawdown (3Y)

Largest decline over 3 years

-22.93%

-24.09%

+1.16%

Max Drawdown (5Y)

Largest decline over 5 years

-35.56%

-35.23%

-0.33%

Max Drawdown (10Y)

Largest decline over 10 years

-35.56%

-35.23%

-0.33%

Current Drawdown

Current decline from peak

-3.14%

-3.30%

+0.16%

Average Drawdown

Average peak-to-trough decline

-24.58%

-7.94%

-16.64%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.34%

3.43%

-0.09%

Volatility

^NDX vs. ONEQ - Volatility Comparison

NASDAQ 100 Index (^NDX) has a higher volatility of 9.71% compared to Fidelity Nasdaq Composite Index ETF (ONEQ) at 8.09%. This indicates that ^NDX's price experiences larger fluctuations and is considered to be riskier than ONEQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


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Volatility by Period


^NDXONEQDifference

Volatility (1M)

Calculated over the trailing 1-month period

9.71%

8.09%

+1.62%

Volatility (6M)

Calculated over the trailing 6-month period

15.01%

13.94%

+1.07%

Volatility (1Y)

Calculated over the trailing 1-year period

18.35%

17.58%

+0.77%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.95%

22.40%

+0.55%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.65%

21.78%

+0.87%

Frequently Asked Questions


With a correlation of 0.97, ^NDX and ONEQ 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.

^NDX has higher volatility (9.71%) compared to ONEQ (8.09%). In terms of maximum drawdown, ^NDX dropped -82.90% vs ONEQ's -55.09%.

^NDX currently has the higher Sharpe Ratio (1.64 vs 1.62), 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.

Portfolio Optimizer

Find the right allocation for ^NDX and ONEQ

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

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