FAGAX vs. QQQ

Last updated Jun 23, 2026

FAGAX (Fidelity Advisor Growth Opportunities Fund Class A) and QQQ (Invesco QQQ ETF) are both funds - FAGAX is a Large Cap Growth Equities fund actively managed by Fidelity, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. FAGAX is actively managed, while QQQ is passively managed. Over the past 10 years, FAGAX returned 22.43%/yr vs 22.48%/yr for QQQ. Their correlation of 0.88 suggests significant overlap in exposure. FAGAX charges 0.96%/yr vs 0.18%/yr for QQQ.

Performance

FAGAX vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Growth Opportunities Fund Class A (FAGAX) and Invesco QQQ ETF (QQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FAGAX achieves a 16.55% return, which is significantly lower than QQQ's 20.41% return. Both investments have delivered pretty close results over the past 10 years, with FAGAX having a 22.43% annualized return and QQQ not far ahead at 22.48%.

FAGAX

• 1D: 2.25%
• 1M: 3.98%
• YTD: 16.55%
• 6M: 16.20%
• 1Y: 38.06%
• 3Y*: 30.48%
• 5Y*: 12.45%
• 10Y*: 22.43%

QQQ

• 1D: -0.25%
• 1M: 2.96%
• YTD: 20.41%
• 6M: 19.46%
• 1Y: 40.91%
• 3Y*: 27.47%
• 5Y*: 16.94%
• 10Y*: 22.48%

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

FAGAX vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FAGAX Fidelity Advisor Growth Opportunities Fund Class A	16.55%	22.17%	38.71%	45.14%	-38.40%	11.31%	68.60%	40.26%	14.87%	34.66%
QQQ Invesco QQQ ETF	20.41%	20.77%	25.58%	54.86%	-32.58%	27.42%	48.62%	38.96%	-0.13%	32.66%

Correlation

The correlation between FAGAX and QQQ is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Mar 10, 1999	0.88

The correlation between FAGAX and QQQ has been stable across timeframes, ranging from 0.88 to 0.94 - a consistent structural relationship.

Return for Risk

FAGAX vs. QQQ — Risk / Return Rank

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

FAGAX

FAGAX Risk / Return Rank: 44
FAGAX Sharpe Ratio Rank: 51
FAGAX Sortino Ratio Rank: 43
FAGAX Omega Ratio Rank: 45
FAGAX Calmar Ratio Rank: 42
FAGAX Martin Ratio Rank: 43

QQQ

QQQ Risk / Return Rank: 72
QQQ Sharpe Ratio Rank: 76
QQQ Sortino Ratio Rank: 70
QQQ Omega Ratio Rank: 72
QQQ Calmar Ratio Rank: 70
QQQ Martin Ratio Rank: 71

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.

FAGAX vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Growth Opportunities Fund Class A (FAGAX) and Invesco QQQ ETF (QQQ). 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.

	FAGAX	QQQ	Difference
Sharpe ratio: Return per unit of total volatility	1.93	2.33	-0.40
Sortino ratio: Return per unit of downside risk	2.53	3.03	-0.49
Omega ratio: Gain probability vs. loss probability	1.33	1.41	-0.07
Calmar ratio: Return relative to maximum drawdown	2.34	3.44	-1.09
Martin ratio: Return relative to average drawdown	8.61	12.79	-4.18

FAGAX vs. QQQ - Sharpe Ratio Comparison

The current FAGAX Sharpe Ratio is 1.93, which is comparable to the QQQ Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of FAGAX and QQQ, 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

FAGAX vs. QQQ - Drawdown Comparison

The maximum FAGAX drawdown since its inception was -65.24%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for FAGAX and QQQ.

Drawdown Indicators

	FAGAX	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-65.24%	-82.97%	+17.73%
Max Drawdown (1Y) Largest decline over 1 year	-16.19%	-11.96%	-4.23%
Max Drawdown (3Y) Largest decline over 3 years	-26.62%	-22.77%	-3.85%
Max Drawdown (5Y) Largest decline over 5 years	-44.70%	-35.12%	-9.58%
Max Drawdown (10Y) Largest decline over 10 years	-44.70%	-35.12%	-9.58%
Current Drawdown Current decline from peak	-0.22%	-0.99%	+0.77%
Average Drawdown Average peak-to-trough decline	-15.18%	-32.73%	+17.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.40%	3.21%	+1.19%

Volatility

FAGAX vs. QQQ - Volatility Comparison

Fidelity Advisor Growth Opportunities Fund Class A (FAGAX) and Invesco QQQ ETF (QQQ) have volatilities of 8.27% and 8.47%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FAGAX	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.27%	8.47%	-0.20%
Volatility (6M) Calculated over the trailing 6-month period	15.94%	14.20%	+1.74%
Volatility (1Y) Calculated over the trailing 1-year period	19.66%	17.67%	+1.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.03%	22.64%	+2.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.00%	22.43%	+1.57%

FAGAX vs. QQQ - Expense Ratio Comparison

FAGAX has a 0.96% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

FAGAX vs. QQQ - Dividend Comparison

FAGAX's dividend yield for the trailing twelve months is around 3.52%, more than QQQ's 0.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAGAX Fidelity Advisor Growth Opportunities Fund Class A	3.52%	4.11%	0.00%	0.00%	0.00%	10.19%	5.45%	4.10%	11.99%	7.67%	15.44%	11.12%
QQQ Invesco QQQ ETF	0.41%	0.45%	0.56%	0.62%	0.80%	0.43%	0.55%	0.74%	0.91%	0.84%	1.06%	0.99%

Frequently Asked Questions

Can I hold both FAGAX and QQQ in my portfolio?

With a correlation of 0.91, FAGAX and QQQ 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, FAGAX or QQQ?

QQQ has higher volatility (8.47%) compared to FAGAX (8.27%). In terms of maximum drawdown, FAGAX dropped -65.24% vs QQQ's -82.97%.

Which has better risk-adjusted returns?

QQQ currently has the higher Sharpe Ratio (2.33 vs 1.93), 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.