FAGCX vs. QQQ

Last updated Jun 4, 2026

FAGCX (Fidelity Advisor Growth Opportunities Fund Class I) and QQQ (Invesco QQQ ETF) are both funds - FAGCX is a Large Cap Growth Equities fund managed by Fidelity, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Over the past 10 years, FAGCX returned 25.71%/yr vs 21.94%/yr for QQQ. Their correlation of 0.88 suggests significant overlap in exposure. FAGCX charges 0.79%/yr vs 0.18%/yr for QQQ.

Performance

FAGCX vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Growth Opportunities Fund Class I (FAGCX) 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, FAGCX achieves a 16.86% return, which is significantly lower than QQQ's 21.30% return. Over the past 10 years, FAGCX has outperformed QQQ with an annualized return of 25.71%, while QQQ has yielded a comparatively lower 21.94% annualized return.

FAGCX

• 1D: -0.07%
• 1M: 8.79%
• YTD: 16.86%
• 6M: 18.06%
• 1Y: 40.97%
• 3Y*: 32.05%
• 5Y*: 16.08%
• 10Y*: 25.71%

QQQ

• 1D: -0.26%
• 1M: 10.60%
• YTD: 21.30%
• 6M: 19.66%
• 1Y: 41.82%
• 3Y*: 28.78%
• 5Y*: 17.97%
• 10Y*: 21.94%

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

FAGCX vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FAGCX Fidelity Advisor Growth Opportunities Fund Class I	16.86%	22.47%	39.06%	45.51%	-32.60%	16.63%	74.20%	47.51%	19.08%	37.70%
QQQ Invesco QQQ ETF	21.30%	20.77%	25.58%	54.86%	-32.58%	27.42%	48.62%	38.96%	-0.13%	32.66%

Correlation

The correlation between FAGCX 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 11, 1999	0.88

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

Return for Risk

FAGCX vs. QQQ — Risk / Return Rank

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

FAGCX

FAGCX Risk / Return Rank: 52
FAGCX Sharpe Ratio Rank: 62
FAGCX Sortino Ratio Rank: 50
FAGCX Omega Ratio Rank: 52
FAGCX Calmar Ratio Rank: 47
FAGCX Martin Ratio Rank: 47

QQQ

QQQ Risk / Return Rank: 73
QQQ Sharpe Ratio Rank: 79
QQQ Sortino Ratio Rank: 75
QQQ Omega Ratio Rank: 74
QQQ Calmar Ratio Rank: 69
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.

FAGCX vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Growth Opportunities Fund Class I (FAGCX) 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.

	FAGCX	QQQ	Difference
Sharpe ratio: Return per unit of total volatility	2.31	2.64	-0.33
Sortino ratio: Return per unit of downside risk	2.99	3.45	-0.46
Omega ratio: Gain probability vs. loss probability	1.40	1.45	-0.05
Calmar ratio: Return relative to maximum drawdown	2.62	3.51	-0.89
Martin ratio: Return relative to average drawdown	9.81	13.49	-3.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FAGCX vs. QQQ - Sharpe Ratio Comparison

The current FAGCX Sharpe Ratio is 2.31, which is comparable to the QQQ Sharpe Ratio of 2.64. The chart below compares the historical Sharpe Ratios of FAGCX 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.

Sharpe Ratios by Period

	FAGCX	QQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.31	2.64	-0.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.64	0.81	-0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.05	0.99	+0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.41	+0.11

Drawdowns

FAGCX vs. QQQ - Drawdown Comparison

The maximum FAGCX drawdown since its inception was -69.09%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for FAGCX and QQQ.

Drawdown Indicators

	FAGCX	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-69.09%	-82.97%	+13.88%
Max Drawdown (1Y) Largest decline over 1 year	-16.10%	-11.96%	-4.14%
Max Drawdown (3Y) Largest decline over 3 years	-26.59%	-22.77%	-3.82%
Max Drawdown (5Y) Largest decline over 5 years	-38.72%	-35.12%	-3.60%
Max Drawdown (10Y) Largest decline over 10 years	-38.72%	-35.12%	-3.60%
Current Drawdown Current decline from peak	-0.07%	-0.26%	+0.19%
Average Drawdown Average peak-to-trough decline	-18.75%	-32.79%	+14.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.29%	3.11%	+1.18%

Volatility

FAGCX vs. QQQ - Volatility Comparison

Fidelity Advisor Growth Opportunities Fund Class I (FAGCX) and Invesco QQQ ETF (QQQ) have volatilities of 4.48% and 4.49%, 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

	FAGCX	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.48%	4.49%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	14.26%	12.10%	+2.16%
Volatility (1Y) Calculated over the trailing 1-year period	18.26%	15.94%	+2.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.40%	22.38%	+3.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.49%	22.29%	+2.20%

FAGCX vs. QQQ - Expense Ratio Comparison

FAGCX has a 0.79% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

FAGCX vs. QQQ - Dividend Comparison

FAGCX's dividend yield for the trailing twelve months is around 3.14%, more than QQQ's 0.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAGCX Fidelity Advisor Growth Opportunities Fund Class I	3.14%	3.67%	0.00%	0.00%	11.34%	14.14%	7.31%	7.69%	14.30%	8.00%	15.78%	16.11%
QQQ Invesco QQQ ETF	0.38%	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 FAGCX and QQQ in my portfolio?

With a correlation of 0.91, FAGCX 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, FAGCX or QQQ?

QQQ has higher volatility (4.49%) compared to FAGCX (4.48%). In terms of maximum drawdown, FAGCX dropped -69.09% vs QQQ's -82.97%.

Which has better risk-adjusted returns?

QQQ currently has the higher Sharpe Ratio (2.64 vs 2.31), 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.