FDGRX vs. QQQ

Last updated Jun 4, 2026

FDGRX (Fidelity Growth Company Fund) and QQQ (Invesco QQQ ETF) are both funds - FDGRX 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, FDGRX returned 23.01%/yr vs 21.94%/yr for QQQ. Their correlation of 0.92 suggests significant overlap in exposure. FDGRX charges 0.79%/yr vs 0.18%/yr for QQQ.

Performance

FDGRX vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Growth Company Fund (FDGRX) 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, FDGRX achieves a 23.73% return, which is significantly higher than QQQ's 21.30% return. Both investments have delivered pretty close results over the past 10 years, with FDGRX having a 23.01% annualized return and QQQ not far behind at 21.94%.

FDGRX

• 1D: 0.03%
• 1M: 8.79%
• YTD: 23.73%
• 6M: 19.90%
• 1Y: 48.48%
• 3Y*: 31.67%
• 5Y*: 17.53%
• 10Y*: 23.01%

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)

FDGRX vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDGRX Fidelity Growth Company Fund	23.73%	18.54%	37.18%	47.25%	-33.86%	22.57%	67.42%	38.40%	-4.14%	36.76%
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 FDGRX and QQQ is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Mar 11, 1999	0.92

The correlation between FDGRX and QQQ has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.

FDGRX vs. QQQ - Sectors Allocation Comparison

Sectors	FDGRX	QQQ
Technology	52.2%	53.8%
Communication Services	13.5%	15.8%
Healthcare	12.4%	4.2%
Consumer Cyclical	11.7%	12.3%
Financial Services	3.3%	0.2%
Consumer Defensive	2.9%	7.7%
Industrials	2.6%	2.8%
Basic Materials	0.7%	1.1%
Energy	0.5%	0.6%
Real Estate	0.2%	0.1%
Utilities	-	1.4%

Return for Risk

FDGRX vs. QQQ — Risk / Return Rank

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

FDGRX

FDGRX Risk / Return Rank: 76
FDGRX Sharpe Ratio Rank: 85
FDGRX Sortino Ratio Rank: 64
FDGRX Omega Ratio Rank: 67
FDGRX Calmar Ratio Rank: 85
FDGRX Martin Ratio Rank: 80

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.

FDGRX vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Growth Company Fund (FDGRX) 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.

	FDGRX	QQQ	Difference
Sharpe ratio Return per unit of total volatility	2.74	2.64	+0.10
Sortino ratio Return per unit of downside risk	3.35	3.45	-0.10
Omega ratio Gain probability vs. loss probability	1.46	1.45	+0.01
Calmar ratio Return relative to maximum drawdown	4.00	3.51	+0.49
Martin ratio Return relative to average drawdown	15.03	13.49	+1.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FDGRX vs. QQQ - Sharpe Ratio Comparison

The current FDGRX Sharpe Ratio is 2.74, which is comparable to the QQQ Sharpe Ratio of 2.64. The chart below compares the historical Sharpe Ratios of FDGRX 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

	FDGRX	QQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.74	2.64	+0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.74	0.81	-0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.99	0.99	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	0.41	+0.29

Drawdowns

FDGRX vs. QQQ - Drawdown Comparison

The maximum FDGRX drawdown since its inception was -71.62%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for FDGRX and QQQ.

Drawdown Indicators

	FDGRX	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-71.62%	-82.97%	+11.35%
Max Drawdown (1Y) Largest decline over 1 year	-12.60%	-11.96%	-0.64%
Max Drawdown (3Y) Largest decline over 3 years	-26.19%	-22.77%	-3.42%
Max Drawdown (5Y) Largest decline over 5 years	-40.25%	-35.12%	-5.13%
Max Drawdown (10Y) Largest decline over 10 years	-40.25%	-35.12%	-5.13%
Current Drawdown Current decline from peak	0.00%	-0.26%	+0.26%
Average Drawdown Average peak-to-trough decline	-15.91%	-32.79%	+16.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.34%	3.11%	+0.23%

Volatility

FDGRX vs. QQQ - Volatility Comparison

Fidelity Growth Company Fund (FDGRX) and Invesco QQQ ETF (QQQ) have volatilities of 4.40% 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

	FDGRX	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.40%	4.49%	-0.09%
Volatility (6M) Calculated over the trailing 6-month period	14.41%	12.10%	+2.31%
Volatility (1Y) Calculated over the trailing 1-year period	18.44%	15.94%	+2.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.93%	22.38%	+1.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.39%	22.29%	+1.10%

FDGRX vs. QQQ - Expense Ratio Comparison

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

Dividends

FDGRX vs. QQQ - Dividend Comparison

FDGRX has not paid dividends to shareholders, while QQQ's dividend yield for the trailing twelve months is around 0.38%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDGRX Fidelity Growth Company Fund	0.00%	0.00%	8.86%	3.83%	7.20%	10.67%	8.86%	3.84%	6.38%	4.73%	6.16%	3.92%
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 FDGRX and QQQ in my portfolio?

With a correlation of 0.93, FDGRX 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, FDGRX or QQQ?

QQQ has higher volatility (4.49%) compared to FDGRX (4.40%). In terms of maximum drawdown, FDGRX dropped -71.62% vs QQQ's -82.97%.

Which has better risk-adjusted returns?

FDGRX currently has the higher Sharpe Ratio (2.74 vs 2.64), 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.