FFSM vs. ONEQ
Compare and contrast key facts about Fidelity Fundamental Small-Mid Cap ETF (FFSM) and Fidelity NASDAQ Composite Index Tracking Stock (ONEQ).
FFSM and ONEQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FFSM is an actively managed fund by Fidelity. It was launched on Feb 2, 2021. 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
FFSM vs. ONEQ - Performance Comparison
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FFSM vs. ONEQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FFSM Fidelity Fundamental Small-Mid Cap ETF | 4.24% | 14.89% | 14.38% | 17.30% | -16.35% | 19.77% |
ONEQ Fidelity NASDAQ Composite Index Tracking Stock | -6.77% | 20.89% | 29.30% | 45.73% | -32.12% | 14.74% |
Returns By Period
In the year-to-date period, FFSM achieves a 4.24% return, which is significantly higher than ONEQ's -6.77% return.
FFSM
- 1D
- 3.63%
- 1M
- -6.13%
- YTD
- 4.24%
- 6M
- 9.66%
- 1Y
- 27.31%
- 3Y*
- 15.82%
- 5Y*
- 8.27%
- 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%
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FFSM vs. ONEQ - Expense Ratio Comparison
FFSM has a 0.43% expense ratio, which is higher than ONEQ's 0.21% expense ratio.
Return for Risk
FFSM vs. ONEQ — Risk / Return Rank
FFSM
ONEQ
FFSM vs. ONEQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Fundamental Small-Mid Cap ETF (FFSM) 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.
| FFSM | ONEQ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.21 | 1.12 | +0.09 |
Sortino ratioReturn per unit of downside risk | 1.78 | 1.72 | +0.06 |
Omega ratioGain probability vs. loss probability | 1.25 | 1.25 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 1.91 | 1.95 | -0.04 |
Martin ratioReturn relative to average drawdown | 8.09 | 7.24 | +0.85 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FFSM | ONEQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.21 | 1.12 | +0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.40 | 0.50 | -0.10 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.80 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.47 | 0.60 | -0.13 |
Correlation
The correlation between FFSM and ONEQ is 0.75, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
FFSM vs. ONEQ - Dividend Comparison
FFSM's dividend yield for the trailing twelve months is around 0.53%, less than ONEQ's 0.83% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FFSM Fidelity Fundamental Small-Mid Cap ETF | 0.53% | 0.56% | 0.62% | 0.56% | 0.58% | 0.37% | 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
FFSM vs. ONEQ - Drawdown Comparison
The maximum FFSM drawdown since its inception was -26.65%, smaller than the maximum ONEQ drawdown of -55.09%. Use the drawdown chart below to compare losses from any high point for FFSM and ONEQ.
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Drawdown Indicators
| FFSM | ONEQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.65% | -55.09% | +28.44% |
Max Drawdown (1Y)Largest decline over 1 year | -14.42% | -13.13% | -1.29% |
Max Drawdown (5Y)Largest decline over 5 years | -26.65% | -35.23% | +8.58% |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.23% | — |
Current DrawdownCurrent decline from peak | -7.11% | -9.34% | +2.23% |
Average DrawdownAverage peak-to-trough decline | -8.06% | -8.01% | -0.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.40% | 3.53% | -0.13% |
Volatility
FFSM vs. ONEQ - Volatility Comparison
Fidelity Fundamental Small-Mid Cap ETF (FFSM) has a higher volatility of 8.38% compared to Fidelity NASDAQ Composite Index Tracking Stock (ONEQ) at 6.93%. This indicates that FFSM's price experiences larger fluctuations and is considered to be riskier than ONEQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FFSM | ONEQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.38% | 6.93% | +1.45% |
Volatility (6M)Calculated over the trailing 6-month period | 13.80% | 12.90% | +0.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.75% | 23.22% | -0.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.55% | 22.16% | -1.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.61% | 21.67% | -1.06% |