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FCLO vs. ONEQ
Performance
Return for Risk
Dividends
Drawdowns
Volatility

FCLO vs. ONEQ

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity CLO ETF (FCLO) and Fidelity NASDAQ Composite Index Tracking Stock (ONEQ).

FCLO and ONEQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FCLO is an actively managed fund by Fidelity. It was launched on Feb 10, 2026. ONEQ is a passively managed fund by Fidelity that tracks the performance of the NASDAQ Composite Index. It was launched on Sep 25, 2003.

Performance

FCLO vs. ONEQ - Performance Comparison

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

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FCLO vs. ONEQ - Yearly Performance Comparison

2026 (YTD)
FCLO
Fidelity CLO ETF		0.06%
ONEQ
Fidelity NASDAQ Composite Index Tracking Stock		-4.23%

Returns By Period

FCLO

1D
-0.02%
1M
0.21%
YTD
—
6M
—
1Y
—
3Y*
—
5Y*
—
10Y*
—

ONEQ

1D
3.78%
1M
-4.49%
YTD
-6.77%
6M
-4.24%
1Y
25.78%
3Y*
21.89%
5Y*
11.02%
10Y*
17.18%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Fidelity CLO ETF

Fidelity NASDAQ Composite Index Tracking Stock

Often compared with FCLO:
FCLO vs. RAAAFCLO vs. FAAAFCLO vs. PAAAFCLO vs. ACLOFCLO vs. CLOAFCLO vs. CLOXFCLO vs. FBCG
Often compared with ONEQ:
ONEQ vs. QQQONEQ vs. FNCMXONEQ vs. VOOONEQ vs. ^NDXONEQ vs. ^IXICONEQ vs. ^GSPCONEQ vs. IEMG

FCLO vs. ONEQ - Expense Ratio Comparison

FCLO has a 0.45% expense ratio, which is higher than ONEQ's 0.21% expense ratio.

FCLO
Fidelity CLO ETF
ONEQ
Fidelity NASDAQ Composite Index Tracking Stock

Return for Risk

FCLO vs. ONEQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FCLO
ONEQ
ONEQ Risk / Return Rank: 7272
Overall Rank
ONEQ Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
ONEQ Sortino Ratio Rank: 7272
Sortino Ratio Rank
ONEQ Omega Ratio Rank: 7171
Omega Ratio Rank
ONEQ Calmar Ratio Rank: 7878
Calmar Ratio Rank
ONEQ Martin Ratio Rank: 7474
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.

FCLO vs. ONEQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity CLO ETF (FCLO) and Fidelity NASDAQ Composite Index Tracking Stock (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.

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

FCLO vs. ONEQ - Sharpe Ratio Comparison

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Sharpe Ratios by Period

FCLOONEQDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

—

1.12

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.50

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.80

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.31

0.60

-0.30

Correlation

The correlation between FCLO and ONEQ is -0.10. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

FCLO vs. ONEQ - Dividend Comparison

FCLO's dividend yield for the trailing twelve months is around 0.54%, less than ONEQ's 0.83% yield.

TTM20252024202320222021202020192018201720162015
FCLO
Fidelity CLO ETF		0.54%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
ONEQ
Fidelity NASDAQ Composite Index Tracking Stock		0.83%0.54%0.65%0.71%0.97%0.54%0.71%2.51%1.08%0.84%1.12%1.04%

Drawdowns

FCLO vs. ONEQ - Drawdown Comparison

The maximum FCLO drawdown since its inception was -0.58%, smaller than the maximum ONEQ drawdown of -55.09%. Use the drawdown chart below to compare losses from any high point for FCLO and ONEQ.

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Drawdown Indicators

FCLOONEQDifference

Max Drawdown

Largest peak-to-trough decline

-0.58%

-55.09%

+54.51%

Max Drawdown (1Y)

Largest decline over 1 year

—

-13.13%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-35.23%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-35.23%

—

Current Drawdown

Current decline from peak

-0.09%

-9.34%

+9.25%

Average Drawdown

Average peak-to-trough decline

-0.20%

-8.01%

+7.81%

Ulcer Index

Depth and duration of drawdowns from previous peaks

—

3.53%

—

Volatility

FCLO vs. ONEQ - Volatility Comparison

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Volatility by Period

FCLOONEQDifference

Volatility (1M)

Calculated over the trailing 1-month period

—

6.93%

—

Volatility (6M)

Calculated over the trailing 6-month period

—

12.90%

—

Volatility (1Y)

Calculated over the trailing 1-year period

1.62%

23.22%

-21.60%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

1.62%

22.16%

-20.54%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

1.62%

21.67%

-20.05%