FMDGX vs. QQQ
Compare and contrast key facts about Fidelity Mid Cap Growth Index Fund (FMDGX) and Invesco QQQ (QQQ).
FMDGX is managed by Fidelity. It was launched on Jul 11, 2019. QQQ is a passively managed fund by Invesco that tracks the performance of the NASDAQ-100 Index. It was launched on Mar 10, 1999.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FMDGX or QQQ.
Key characteristics
| FMDGX | QQQ | |
|---|---|---|
| YTD Return | 10.32% | 15.46% |
| 1Y Return | 23.83% | 28.15% |
| 3Y Return (Ann) | 0.06% | 8.77% |
| 5Y Return (Ann) | 10.58% | 20.70% |
| Sharpe Ratio | 1.47 | 1.58 |
| Daily Std Dev | 15.98% | 17.69% |
| Max Drawdown | -38.59% | -82.98% |
| Current Drawdown | -4.81% | -6.27% |
Correlation
The correlation between FMDGX and QQQ is 0.87, 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.
Performance
FMDGX vs. QQQ - Performance Comparison
In the year-to-date period, FMDGX achieves a 10.32% return, which is significantly lower than QQQ's 15.46% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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FMDGX vs. QQQ - Expense Ratio Comparison
FMDGX has a 0.05% expense ratio, which is lower than QQQ's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Risk-Adjusted Performance
FMDGX vs. QQQ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Mid Cap Growth Index Fund (FMDGX) and Invesco QQQ (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.
Dividends
FMDGX vs. QQQ - Dividend Comparison
FMDGX's dividend yield for the trailing twelve months is around 0.55%, more than QQQ's 0.50% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FMDGX Fidelity Mid Cap Growth Index Fund | 0.55% | 0.63% | 0.81% | 6.43% | 0.36% | 0.29% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
QQQ Invesco QQQ | 0.50% | 0.62% | 0.80% | 0.43% | 0.55% | 0.74% | 0.91% | 0.84% | 1.06% | 0.99% | 1.41% | 1.01% |
Drawdowns
FMDGX vs. QQQ - Drawdown Comparison
The maximum FMDGX drawdown since its inception was -38.59%, smaller than the maximum QQQ drawdown of -82.98%. Use the drawdown chart below to compare losses from any high point for FMDGX and QQQ. For additional features, visit the drawdowns tool.
Volatility
FMDGX vs. QQQ - Volatility Comparison
The current volatility for Fidelity Mid Cap Growth Index Fund (FMDGX) is 4.91%, while Invesco QQQ (QQQ) has a volatility of 5.90%. This indicates that FMDGX 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.