FMDGX vs. QQQ
Compare and contrast key facts about Fidelity Mid Cap Growth Index Fund (FMDGX) and Invesco QQQ ETF (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.
Performance
FMDGX vs. QQQ - Performance Comparison
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FMDGX vs. QQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FMDGX Fidelity Mid Cap Growth Index Fund | -6.36% | 8.60% | 22.03% | 25.79% | -26.67% | 12.67% | 34.84% | 4.63% |
QQQ Invesco QQQ ETF | -4.76% | 20.77% | 25.58% | 54.86% | -32.58% | 27.42% | 48.62% | 11.08% |
Returns By Period
In the year-to-date period, FMDGX achieves a -6.36% return, which is significantly lower than QQQ's -4.76% return.
FMDGX
- 1D
- 3.60%
- 1M
- -6.39%
- YTD
- -6.36%
- 6M
- -9.60%
- 1Y
- 8.49%
- 3Y*
- 12.67%
- 5Y*
- 4.92%
- 10Y*
- —
QQQ
- 1D
- 1.24%
- 1M
- -3.79%
- YTD
- -4.76%
- 6M
- -2.89%
- 1Y
- 24.21%
- 3Y*
- 22.83%
- 5Y*
- 13.16%
- 10Y*
- 18.99%
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FMDGX vs. QQQ - Expense Ratio Comparison
FMDGX has a 0.05% expense ratio, which is lower than QQQ's 0.18% 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%.
Return for Risk
FMDGX vs. QQQ — Risk / Return Rank
FMDGX
QQQ
FMDGX vs. QQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Mid Cap Growth Index Fund (FMDGX) 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.
| FMDGX | QQQ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.41 | 1.07 | -0.66 |
Sortino ratioReturn per unit of downside risk | 0.76 | 1.66 | -0.90 |
Omega ratioGain probability vs. loss probability | 1.10 | 1.24 | -0.14 |
Calmar ratioReturn relative to maximum drawdown | 0.63 | 2.00 | -1.37 |
Martin ratioReturn relative to average drawdown | 1.97 | 7.32 | -5.35 |
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
| FMDGX | QQQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.41 | 1.07 | -0.66 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.22 | 0.59 | -0.37 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.86 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.38 | 0.38 | +0.01 |
Correlation
The correlation between FMDGX and QQQ is 0.85, 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
FMDGX vs. QQQ - Dividend Comparison
FMDGX's dividend yield for the trailing twelve months is around 1.98%, more than QQQ's 0.48% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FMDGX Fidelity Mid Cap Growth Index Fund | 1.98% | 1.85% | 0.47% | 0.63% | 0.81% | 6.43% | 0.36% | 0.29% | 0.00% | 0.00% | 0.00% | 0.00% |
QQQ Invesco QQQ ETF | 0.48% | 0.45% | 0.56% | 0.62% | 0.80% | 0.43% | 0.55% | 0.74% | 0.91% | 0.84% | 1.06% | 0.99% |
Drawdowns
FMDGX vs. QQQ - Drawdown Comparison
The maximum FMDGX drawdown since its inception was -38.59%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for FMDGX and QQQ.
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Drawdown Indicators
| FMDGX | QQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.59% | -82.97% | +44.38% |
Max Drawdown (1Y)Largest decline over 1 year | -14.75% | -12.62% | -2.13% |
Max Drawdown (5Y)Largest decline over 5 years | -38.59% | -35.12% | -3.47% |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.12% | — |
Current DrawdownCurrent decline from peak | -11.68% | -7.86% | -3.82% |
Average DrawdownAverage peak-to-trough decline | -11.34% | -32.99% | +21.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.70% | 3.44% | +1.26% |
Volatility
FMDGX vs. QQQ - Volatility Comparison
Fidelity Mid Cap Growth Index Fund (FMDGX) and Invesco QQQ ETF (QQQ) have volatilities of 6.94% and 6.61%, 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.
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Volatility by Period
| FMDGX | QQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.94% | 6.61% | +0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 13.16% | 12.82% | +0.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.17% | 22.70% | +0.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.41% | 22.38% | +0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.50% | 22.25% | +2.25% |