FDCF vs. QQQM

Last updated Jun 23, 2026

FDCF (Fidelity Disruptive Communications ETF) and QQQM (Invesco NASDAQ 100 ETF) are both exchange-traded funds - FDCF is a Communications Equities fund actively managed by Fidelity, while QQQM is a Nasdaq-100 fund tracking the NASDAQ-100 Index. FDCF is actively managed, while QQQM is passively managed. Over the past 3 years, FDCF returned 25.42%/yr vs 27.57%/yr for QQQM. Their correlation of 0.85 suggests significant overlap in exposure. FDCF charges 0.50%/yr vs 0.15%/yr for QQQM.

Performance

FDCF vs. QQQM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Disruptive Communications ETF (FDCF) and Invesco NASDAQ 100 ETF (QQQM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDCF achieves a 2.31% return, which is significantly lower than QQQM's 20.46% return.

FDCF

• 1D: -1.53%
• 1M: -0.46%
• YTD: 2.31%
• 6M: 2.81%
• 1Y: 17.89%
• 3Y*: 25.42%
• 5Y*: —
• 10Y*: —

QQQM

• 1D: -0.09%
• 1M: 2.98%
• YTD: 20.46%
• 6M: 19.51%
• 1Y: 41.06%
• 3Y*: 27.57%
• 5Y*: 17.04%
• 10Y*: —

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

FDCF vs. QQQM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FDCF Fidelity Disruptive Communications ETF	2.31%	27.42%	28.37%	17.50%
QQQM Invesco NASDAQ 100 ETF	20.46%	20.85%	25.68%	16.23%

Correlation

The correlation between FDCF and QQQM is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (All Time) Calculated using the full available price history since Jun 12, 2023	0.85

The correlation between FDCF and QQQM has been stable across timeframes, ranging from 0.82 to 0.85 - a consistent structural relationship.

FDCF vs. QQQM - Sectors Allocation Comparison

Sectors	FDCF	QQQM
Communication Services	44.7%	14.3%
Technology	42.9%	58.7%
Consumer Cyclical	10.7%	11.4%
Industrials	1.6%	2.6%
Basic Materials	-	1.0%
Consumer Defensive	-	6.4%
Energy	-	0.5%
Financial Services	-	0.2%
Healthcare	-	3.7%
Real Estate	-	0.1%
Utilities	-	1.2%

Return for Risk

FDCF vs. QQQM — Risk / Return Rank

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

FDCF

FDCF Risk / Return Rank: 24
FDCF Sharpe Ratio Rank: 27
FDCF Sortino Ratio Rank: 25
FDCF Omega Ratio Rank: 25
FDCF Calmar Ratio Rank: 22
FDCF Martin Ratio Rank: 24

QQQM

QQQM Risk / Return Rank: 72
QQQM Sharpe Ratio Rank: 77
QQQM Sortino Ratio Rank: 70
QQQM Omega Ratio Rank: 73
QQQM Calmar Ratio Rank: 71
QQQM 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.

FDCF vs. QQQM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Disruptive Communications ETF (FDCF) and Invesco NASDAQ 100 ETF (QQQM). 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.

	FDCF	QQQM	Difference
Sharpe ratio: Return per unit of total volatility	0.94	2.36	-1.42
Sortino ratio: Return per unit of downside risk	1.35	3.05	-1.70
Omega ratio: Gain probability vs. loss probability	1.17	1.41	-0.24
Calmar ratio: Return relative to maximum drawdown	0.99	3.45	-2.46
Martin ratio: Return relative to average drawdown	2.96	12.82	-9.86

FDCF vs. QQQM - Sharpe Ratio Comparison

The current FDCF Sharpe Ratio is 0.94, which is lower than the QQQM Sharpe Ratio of 2.36. The chart below compares the historical Sharpe Ratios of FDCF and QQQM, 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

FDCF vs. QQQM - Drawdown Comparison

The maximum FDCF drawdown since its inception was -22.53%, smaller than the maximum QQQM drawdown of -35.04%. Use the drawdown chart below to compare losses from any high point for FDCF and QQQM.

Drawdown Indicators

	FDCF	QQQM	Difference
Max Drawdown Largest peak-to-trough decline	-22.53%	-35.04%	+12.51%
Max Drawdown (1Y) Largest decline over 1 year	-18.10%	-11.96%	-6.14%
Max Drawdown (3Y) Largest decline over 3 years	-22.53%	-22.70%	+0.17%
Max Drawdown (5Y) Largest decline over 5 years	—	-35.04%	—
Current Drawdown Current decline from peak	-4.97%	-0.97%	-4.00%
Average Drawdown Average peak-to-trough decline	-4.17%	-8.20%	+4.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.06%	3.21%	+2.85%

Volatility

FDCF vs. QQQM - Volatility Comparison

The current volatility for Fidelity Disruptive Communications ETF (FDCF) is 7.13%, while Invesco NASDAQ 100 ETF (QQQM) has a volatility of 8.28%. This indicates that FDCF experiences smaller price fluctuations and is considered to be less risky than QQQM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDCF	QQQM	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.13%	8.28%	-1.15%
Volatility (6M) Calculated over the trailing 6-month period	15.00%	14.05%	+0.95%
Volatility (1Y) Calculated over the trailing 1-year period	19.21%	17.55%	+1.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.72%	22.48%	-1.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.72%	22.26%	-1.54%

FDCF vs. QQQM - Expense Ratio Comparison

FDCF has a 0.50% expense ratio, which is higher than QQQM's 0.15% expense ratio.

Dividends

FDCF vs. QQQM - Dividend Comparison

FDCF's dividend yield for the trailing twelve months is around 0.07%, less than QQQM's 0.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
FDCF Fidelity Disruptive Communications ETF	0.07%	0.09%	0.25%	0.19%	0.00%	0.00%	0.00%
QQQM Invesco NASDAQ 100 ETF	0.53%	0.50%	0.61%	0.65%	0.83%	0.40%	0.16%

Frequently Asked Questions

Can I hold both FDCF and QQQM in my portfolio?

FDCF and QQQM have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDCF or QQQM?

QQQM has higher volatility (8.28%) compared to FDCF (7.13%). In terms of maximum drawdown, FDCF dropped -22.53% vs QQQM's -35.04%.

Which ETF is better, FDCF or QQQM?

On 3-year performance, QQQM leads with 27.57% vs 25.42% for FDCF. On fees, QQQM is cheaper at 0.15% per year. On volatility, FDCF has been the lower-risk option at 7.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FDCF or QQQM?

Over the 3-year period, QQQM has performed better with a 27.57% return vs 25.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDCF or QQQM?

QQQM is cheaper with a 0.15% expense ratio, compared with 0.50% for FDCF.

Which ETF pays a higher dividend yield, FDCF or QQQM?

QQQM has the higher dividend yield at 0.53%, compared with 0.07% for FDCF.

What is the main difference between FDCF and QQQM?

FDCF is categorized as Communications Equities, while QQQM is Nasdaq-100. They also come from different issuers: Fidelity and Invesco. Their fees differ too: 0.50% for FDCF and 0.15% for QQQM.

Which has better risk-adjusted returns?

QQQM currently has the higher Sharpe Ratio (2.36 vs 0.94), 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.