FGKFX vs. QQQ

Last updated Jun 24, 2026

FGKFX (Fidelity Growth Company K6 Fund) and QQQ (Invesco QQQ ETF) are both funds - FGKFX is a Large Cap Growth Equities fund actively managed by Fidelity, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. FGKFX is actively managed, while QQQ is passively managed. Over the past 5 years, FGKFX returned 16.32%/yr vs 16.01%/yr for QQQ. With a 0.95 correlation, they move nearly in lockstep. FGKFX charges 0.45%/yr vs 0.18%/yr for QQQ.

Performance

FGKFX vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Growth Company K6 Fund (FGKFX) 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, FGKFX achieves a 22.73% return, which is significantly higher than QQQ's 16.45% return.

FGKFX

• 1D: -1.20%
• 1M: 1.38%
• YTD: 22.73%
• 6M: 16.53%
• 1Y: 48.45%
• 3Y*: 31.24%
• 5Y*: 16.32%
• 10Y*: —

QQQ

• 1D: -3.29%
• 1M: -0.43%
• YTD: 16.45%
• 6M: 14.99%
• 1Y: 34.88%
• 3Y*: 26.05%
• 5Y*: 16.01%
• 10Y*: 22.07%

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

FGKFX vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FGKFX Fidelity Growth Company K6 Fund	22.73%	21.67%	35.46%	46.02%	-32.62%	22.06%	68.76%	15.07%
QQQ Invesco QQQ ETF	16.45%	20.77%	25.58%	54.86%	-32.58%	27.42%	48.62%	17.35%

Correlation

The correlation between FGKFX and QQQ is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jun 13, 2019	0.95

The correlation between FGKFX and QQQ has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.

Return for Risk

FGKFX vs. QQQ — Risk / Return Rank

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

FGKFX

FGKFX Risk / Return Rank: 81
FGKFX Sharpe Ratio Rank: 84
FGKFX Sortino Ratio Rank: 68
FGKFX Omega Ratio Rank: 70
FGKFX Calmar Ratio Rank: 91
FGKFX Martin Ratio Rank: 91

QQQ

QQQ Risk / Return Rank: 59
QQQ Sharpe Ratio Rank: 61
QQQ Sortino Ratio Rank: 55
QQQ Omega Ratio Rank: 58
QQQ Calmar Ratio Rank: 61
QQQ Martin Ratio Rank: 62

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.

FGKFX vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Growth Company K6 Fund (FGKFX) 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.

	FGKFX	QQQ	Difference
Sharpe ratio: Return per unit of total volatility	2.53	1.95	+0.58
Sortino ratio: Return per unit of downside risk	3.14	2.57	+0.57
Omega ratio: Gain probability vs. loss probability	1.42	1.35	+0.08
Calmar ratio: Return relative to maximum drawdown	4.40	2.93	+1.47
Martin ratio: Return relative to average drawdown	17.06	10.86	+6.19

FGKFX vs. QQQ - Sharpe Ratio Comparison

The current FGKFX Sharpe Ratio is 2.53, which is comparable to the QQQ Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of FGKFX 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.

Drawdowns

FGKFX vs. QQQ - Drawdown Comparison

The maximum FGKFX drawdown since its inception was -40.14%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for FGKFX and QQQ.

Drawdown Indicators

	FGKFX	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-40.14%	-82.97%	+42.83%
Max Drawdown (1Y) Largest decline over 1 year	-11.40%	-11.96%	+0.56%
Max Drawdown (3Y) Largest decline over 3 years	-27.38%	-22.77%	-4.61%
Max Drawdown (5Y) Largest decline over 5 years	-40.14%	-35.12%	-5.02%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.12%	—
Current Drawdown Current decline from peak	-1.75%	-4.25%	+2.50%
Average Drawdown Average peak-to-trough decline	-9.96%	-32.73%	+22.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.93%	3.22%	-0.29%

Volatility

FGKFX vs. QQQ - Volatility Comparison

The current volatility for Fidelity Growth Company K6 Fund (FGKFX) is 7.66%, while Invesco QQQ ETF (QQQ) has a volatility of 9.17%. This indicates that FGKFX 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

	FGKFX	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.66%	9.17%	-1.51%
Volatility (6M) Calculated over the trailing 6-month period	15.78%	14.57%	+1.21%
Volatility (1Y) Calculated over the trailing 1-year period	19.83%	17.96%	+1.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.33%	22.69%	+1.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.79%	22.42%	+3.37%

FGKFX vs. QQQ - Expense Ratio Comparison

FGKFX has a 0.45% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

FGKFX vs. QQQ - Dividend Comparison

FGKFX has not paid dividends to shareholders, while QQQ's dividend yield for the trailing twelve months is around 0.43%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FGKFX Fidelity Growth Company K6 Fund	0.00%	0.00%	0.00%	0.10%	0.18%	2.64%	0.93%	0.06%	0.00%	0.00%	0.00%	0.00%
QQQ Invesco QQQ ETF	0.43%	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 FGKFX and QQQ in my portfolio?

With a correlation of 0.92, FGKFX 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, FGKFX or QQQ?

QQQ has higher volatility (9.17%) compared to FGKFX (7.66%). In terms of maximum drawdown, FGKFX dropped -40.14% vs QQQ's -82.97%.

Which has better risk-adjusted returns?

FGKFX currently has the higher Sharpe Ratio (2.53 vs 1.95), 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.