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FDVV vs. QQQ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FDVV vs. QQQ

Last updated Jun 14, 2026

FDVV (Fidelity High Dividend ETF) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - FDVV is a Large Cap Blend Equities fund tracking the Fidelity Core Dividend Index, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 5 years, FDVV returned 13.53%/yr vs 16.85%/yr for QQQ. A 0.70 correlation means they provide meaningful diversification when combined. FDVV charges 0.29%/yr vs 0.18%/yr for QQQ.

Performance

FDVV vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity High Dividend ETF (FDVV) and Invesco QQQ ETF (QQQ). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, FDVV achieves a 9.30% return, which is significantly lower than QQQ's 17.57% return.

FDVV

1D
0.57%
1M
2.54%
YTD
9.30%
6M
9.44%
1Y
23.92%
3Y*
19.75%
5Y*
13.53%
10Y*
—

QQQ

1D
0.59%
1M
0.22%
YTD
17.57%
6M
17.85%
1Y
37.55%
3Y*
26.43%
5Y*
16.85%
10Y*
21.79%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FDVV vs. QQQ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FDVV
Fidelity High Dividend ETF		9.30%17.08%21.81%18.00%-4.21%29.24%2.80%24.07%-1.26%14.00%
QQQ
Invesco QQQ ETF		17.57%20.77%25.58%54.86%-32.58%27.42%48.62%38.96%-0.13%32.66%

Correlation

The correlation between FDVV and QQQ is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.64

Correlation (3Y)
Calculated over the trailing 3-year period

0.70

Correlation (5Y)
Calculated over the trailing 5-year period

0.73

Correlation (All Time)
Calculated using the full available price history since Sep 15, 2016

0.70

The correlation between FDVV and QQQ has been stable across timeframes, ranging from 0.64 to 0.73 - a consistent structural relationship.

FDVV vs. QQQ - Sectors Allocation Comparison

Sectors
FDVV
QQQ

Technology

30.5%
58.7%

Financial Services

17.0%
0.2%

Consumer Cyclical

13.6%
11.4%

Consumer Defensive

10.7%
6.4%

Real Estate

9.9%
0.1%

Utilities

8.6%
1.2%

Communication Services

3.6%
14.3%

Healthcare

3.0%
3.7%

Industrials

3.0%
2.6%

Basic Materials

-

1.0%

Energy

-

0.5%

Technology

FDVV
30.5%
QQQ
58.7%

Financial Services

FDVV
17.0%
QQQ
0.2%

Consumer Cyclical

FDVV
13.6%
QQQ
11.4%

Consumer Defensive

FDVV
10.7%
QQQ
6.4%

Real Estate

FDVV
9.9%
QQQ
0.1%

Utilities

FDVV
8.6%
QQQ
1.2%

Communication Services

FDVV
3.6%
QQQ
14.3%

Healthcare

FDVV
3.0%
QQQ
3.7%

Industrials

FDVV
3.0%
QQQ
2.6%

Basic Materials

FDVV

-

QQQ
1.0%

Energy

FDVV

-

QQQ
0.5%

Compare stocks, funds, or ETFs

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

Fidelity High Dividend ETF

Invesco QQQ ETF

Often compared with FDVV:
FDVV vs. SCHDFDVV vs. VYMFDVV vs. VOOFDVV vs. SPYDFDVV vs. FDRRFDVV vs. DESFDVV vs. FGRIX
Often compared with QQQ:
QQQ vs. SPYQQQ vs. VOOQQQ vs. VGTQQQ vs. TQQQQQQ vs. SMHQQQ vs. QQQMQQQ vs. QQQI

Return for Risk

FDVV vs. QQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FDVV
FDVV Risk / Return Rank: 7373
Overall Rank
FDVV Sharpe Ratio Rank: 8181
Sharpe Ratio Rank
FDVV Sortino Ratio Rank: 8282
Sortino Ratio Rank
FDVV Omega Ratio Rank: 8181
Omega Ratio Rank
FDVV Calmar Ratio Rank: 5656
Calmar Ratio Rank
FDVV Martin Ratio Rank: 6464
Martin Ratio Rank
QQQ
QQQ Risk / Return Rank: 7171
Overall Rank
QQQ Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
QQQ Sortino Ratio Rank: 7070
Sortino Ratio Rank
QQQ Omega Ratio Rank: 7373
Omega Ratio Rank
QQQ Calmar Ratio Rank: 6969
Calmar Ratio Rank
QQQ Martin Ratio Rank: 7070
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.

FDVV vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity High Dividend ETF (FDVV) 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.

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.

FDVVQQQDifference
Sharpe ratioReturn per unit of total volatility
2.24
2.09

+0.15

Sortino ratioReturn per unit of downside risk
3.14
2.73

+0.41

Omega ratioGain probability vs. loss probability

1.41

1.37

+0.04

Calmar ratioReturn relative to maximum drawdown

2.44

3.01

-0.57

Martin ratioReturn relative to average drawdown

10.11

11.22

-1.11

FDVV vs. QQQ - Sharpe Ratio Comparison

The current FDVV Sharpe Ratio is 2.24, which is comparable to the QQQ Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of FDVV 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.

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Drawdowns

FDVV vs. QQQ - Drawdown Comparison

The maximum FDVV drawdown since its inception was -40.25%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for FDVV and QQQ.

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Drawdown Indicators

FDVVQQQDifference

Max Drawdown

Largest peak-to-trough decline

-40.25%

-82.97%

+42.72%

Max Drawdown (1Y)

Largest decline over 1 year

-9.30%

-11.96%

+2.66%

Max Drawdown (3Y)

Largest decline over 3 years

-15.90%

-22.77%

+6.87%

Max Drawdown (5Y)

Largest decline over 5 years

-20.18%

-35.12%

+14.94%

Max Drawdown (10Y)

Largest decline over 10 years

—

-35.12%

—

Current Drawdown

Current decline from peak

-0.29%

-3.33%

+3.04%

Average Drawdown

Average peak-to-trough decline

-3.80%

-32.75%

+28.95%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.24%

3.20%

-0.96%

Volatility

FDVV vs. QQQ - Volatility Comparison

The current volatility for Fidelity High Dividend ETF (FDVV) is 3.16%, while Invesco QQQ ETF (QQQ) has a volatility of 7.56%. This indicates that FDVV 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.

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Volatility by Period

FDVVQQQDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.16%

7.56%

-4.40%

Volatility (6M)

Calculated over the trailing 6-month period

8.16%

13.81%

-5.65%

Volatility (1Y)

Calculated over the trailing 1-year period

10.12%

17.19%

-7.07%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.76%

22.55%

-7.79%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.98%

22.38%

-5.40%

FDVV vs. QQQ - Expense Ratio Comparison

FDVV has a 0.29% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

FDVV vs. QQQ - Dividend Comparison

FDVV's dividend yield for the trailing twelve months is around 2.70%, more than QQQ's 0.39% yield.

PositionTTM20252024202320222021202020192018201720162015
FDVV
Fidelity High Dividend ETF		2.70%2.89%2.94%3.77%3.44%2.70%3.19%3.93%4.05%3.66%1.04%0.00%
QQQ
Invesco QQQ ETF		0.39%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

FDVV and QQQ have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

QQQ has higher volatility (7.56%) compared to FDVV (3.16%). In terms of maximum drawdown, FDVV dropped -40.25% vs QQQ's -82.97%.

On 5-year performance, QQQ leads with 16.85% vs 13.53% for FDVV. On fees, QQQ is cheaper at 0.18% per year. On volatility, FDVV has been the lower-risk option at 3.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, QQQ has performed better with a 16.85% return vs 13.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

QQQ is cheaper with a 0.18% expense ratio, compared with 0.29% for FDVV.

FDVV has the higher dividend yield at 2.70%, compared with 0.39% for QQQ.

FDVV is categorized as Large Cap Blend Equities, while QQQ is Nasdaq-100. FDVV tracks Fidelity Core Dividend Index, while QQQ tracks NASDAQ-100 Index. They also come from different issuers: Fidelity and Invesco. Their fees differ too: 0.29% for FDVV and 0.18% for QQQ.

FDVV currently has the higher Sharpe Ratio (2.24 vs 2.09), 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.

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