FCPI vs. QQQ

Last updated Jun 4, 2026

FCPI (Fidelity Stocks for Inflation ETF) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - FCPI is a Large Cap Blend Equities fund tracking the Fidelity Stocks for Inflation Factor Index, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 5 years, FCPI returned 15.12%/yr vs 17.97%/yr for QQQ. A 0.78 correlation means they provide meaningful diversification when combined. FCPI charges 0.15%/yr vs 0.18%/yr for QQQ.

Performance

FCPI vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Stocks for Inflation ETF (FCPI) 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, FCPI achieves a 11.23% return, which is significantly lower than QQQ's 21.30% return.

FCPI

• 1D: -0.28%
• 1M: 4.20%
• YTD: 11.23%
• 6M: 10.30%
• 1Y: 22.08%
• 3Y*: 21.82%
• 5Y*: 15.12%
• 10Y*: —

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)

FCPI vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FCPI Fidelity Stocks for Inflation ETF	11.23%	16.24%	25.54%	15.40%	-7.11%	34.19%	2.19%	4.43%
QQQ Invesco QQQ ETF	21.30%	20.77%	25.58%	54.86%	-32.58%	27.42%	48.62%	6.31%

Correlation

The correlation between FCPI and QQQ is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (All Time) Calculated using the full available price history since Nov 8, 2019	0.78

The correlation between FCPI and QQQ has been stable across timeframes, ranging from 0.78 to 0.80 - a consistent structural relationship.

FCPI vs. QQQ - Sectors Allocation Comparison

Sectors	FCPI	QQQ
Technology	28.3%	53.8%
Healthcare	13.3%	4.2%
Energy	12.3%	0.6%
Financial Services	7.5%	0.2%
Consumer Defensive	7.2%	7.7%
Consumer Cyclical	6.9%	12.3%
Basic Materials	6.5%	1.1%
Communication Services	5.6%	15.8%
Industrials	5.6%	2.8%
Real Estate	4.5%	0.1%
Utilities	2.4%	1.4%

Return for Risk

FCPI vs. QQQ — Risk / Return Rank

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

FCPI

FCPI Risk / Return Rank: 56
FCPI Sharpe Ratio Rank: 54
FCPI Sortino Ratio Rank: 54
FCPI Omega Ratio Rank: 54
FCPI Calmar Ratio Rank: 56
FCPI Martin Ratio Rank: 63

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.

FCPI vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Stocks for Inflation ETF (FCPI) 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.

	FCPI	QQQ	Difference
Sharpe ratio: Return per unit of total volatility	1.89	2.64	-0.75
Sortino ratio: Return per unit of downside risk	2.62	3.45	-0.82
Omega ratio: Gain probability vs. loss probability	1.34	1.45	-0.12
Calmar ratio: Return relative to maximum drawdown	2.82	3.51	-0.70
Martin ratio: Return relative to average drawdown	11.56	13.49	-1.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FCPI vs. QQQ - Sharpe Ratio Comparison

The current FCPI Sharpe Ratio is 1.89, which is comparable to the QQQ Sharpe Ratio of 2.64. The chart below compares the historical Sharpe Ratios of FCPI 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

	FCPI	QQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.89	2.64	-0.75
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.91	0.81	+0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.99	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.74	0.41	+0.33

Drawdowns

FCPI vs. QQQ - Drawdown Comparison

The maximum FCPI drawdown since its inception was -37.26%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for FCPI and QQQ.

Drawdown Indicators

	FCPI	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-37.26%	-82.97%	+45.71%
Max Drawdown (1Y) Largest decline over 1 year	-7.88%	-11.96%	+4.08%
Max Drawdown (3Y) Largest decline over 3 years	-17.44%	-22.77%	+5.33%
Max Drawdown (5Y) Largest decline over 5 years	-18.25%	-35.12%	+16.87%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.12%	—
Current Drawdown Current decline from peak	-0.28%	-0.26%	-0.02%
Average Drawdown Average peak-to-trough decline	-4.38%	-32.79%	+28.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.92%	3.11%	-1.19%

Volatility

FCPI vs. QQQ - Volatility Comparison

The current volatility for Fidelity Stocks for Inflation ETF (FCPI) is 3.75%, while Invesco QQQ ETF (QQQ) has a volatility of 4.49%. This indicates that FCPI experiences smaller price fluctuations and is considered to be less risky than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCPI	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.75%	4.49%	-0.74%
Volatility (6M) Calculated over the trailing 6-month period	9.29%	12.10%	-2.81%
Volatility (1Y) Calculated over the trailing 1-year period	11.73%	15.94%	-4.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.66%	22.38%	-5.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.13%	22.29%	-2.16%

FCPI vs. QQQ - Expense Ratio Comparison

FCPI has a 0.15% expense ratio, which is lower than QQQ's 0.18% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FCPI vs. QQQ - Dividend Comparison

FCPI's dividend yield for the trailing twelve months is around 1.61%, more than QQQ's 0.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCPI Fidelity Stocks for Inflation ETF	1.61%	1.74%	1.29%	1.88%	1.77%	1.19%	3.53%	0.43%	0.00%	0.00%	0.00%	0.00%
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 FCPI and QQQ in my portfolio?

FCPI and QQQ have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FCPI or QQQ?

QQQ has higher volatility (4.49%) compared to FCPI (3.75%). In terms of maximum drawdown, FCPI dropped -37.26% vs QQQ's -82.97%.

Which ETF is better, FCPI or QQQ?

On 5-year performance, QQQ leads with 17.97% vs 15.12% for FCPI. On fees, FCPI is cheaper at 0.15% per year. On volatility, FCPI has been the lower-risk option at 3.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FCPI or QQQ?

Over the 5-year period, QQQ has performed better with a 17.97% return vs 15.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FCPI or QQQ?

FCPI is cheaper with a 0.15% expense ratio, compared with 0.18% for QQQ.

Which ETF pays a higher dividend yield, FCPI or QQQ?

FCPI has the higher dividend yield at 1.61%, compared with 0.38% for QQQ.

What is the main difference between FCPI and QQQ?

FCPI is categorized as Large Cap Blend Equities, while QQQ is Nasdaq-100. FCPI tracks Fidelity Stocks for Inflation Factor Index, while QQQ tracks NASDAQ-100 Index. They also come from different issuers: Fidelity and Invesco. Their fees differ too: 0.15% for FCPI and 0.18% for QQQ.

Which has better risk-adjusted returns?

QQQ currently has the higher Sharpe Ratio (2.64 vs 1.89), 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.