FOCKX vs. QQQ

Last updated Jun 23, 2026

FOCKX (Fidelity OTC Portfolio Class K) and QQQ (Invesco QQQ ETF) are both funds - FOCKX is a Large Cap Growth Equities fund managed by Fidelity, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Over the past 10 years, FOCKX returned 23.26%/yr vs 22.48%/yr for QQQ. With a 0.95 correlation, they move nearly in lockstep. FOCKX charges 0.73%/yr vs 0.18%/yr for QQQ.

Performance

FOCKX vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity OTC Portfolio Class K (FOCKX) 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, FOCKX achieves a 29.57% return, which is significantly higher than QQQ's 20.41% return. Both investments have delivered pretty close results over the past 10 years, with FOCKX having a 23.26% annualized return and QQQ not far behind at 22.48%.

FOCKX

• 1D: 2.02%
• 1M: 5.85%
• YTD: 29.57%
• 6M: 29.94%
• 1Y: 60.92%
• 3Y*: 34.63%
• 5Y*: 19.05%
• 10Y*: 23.26%

QQQ

• 1D: -0.25%
• 1M: 2.96%
• YTD: 20.41%
• 6M: 19.46%
• 1Y: 40.91%
• 3Y*: 27.47%
• 5Y*: 16.94%
• 10Y*: 22.48%

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

FOCKX vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FOCKX Fidelity OTC Portfolio Class K	29.57%	22.28%	38.91%	42.92%	-32.07%	25.06%	46.83%	39.36%	-3.18%	38.78%
QQQ Invesco QQQ ETF	20.41%	20.77%	25.58%	54.86%	-32.58%	27.42%	48.62%	38.96%	-0.13%	32.66%

Correlation

The correlation between FOCKX and QQQ is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since May 9, 2008	0.95

The correlation between FOCKX and QQQ has been stable across timeframes, ranging from 0.93 to 0.97 - a consistent structural relationship.

Return for Risk

FOCKX vs. QQQ — Risk / Return Rank

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

FOCKX

FOCKX Risk / Return Rank: 92
FOCKX Sharpe Ratio Rank: 96
FOCKX Sortino Ratio Rank: 87
FOCKX Omega Ratio Rank: 84
FOCKX Calmar Ratio Rank: 95
FOCKX Martin Ratio Rank: 97

QQQ

QQQ Risk / Return Rank: 72
QQQ Sharpe Ratio Rank: 76
QQQ Sortino Ratio Rank: 70
QQQ Omega Ratio Rank: 72
QQQ Calmar Ratio Rank: 70
QQQ Martin Ratio Rank: 71

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.

FOCKX vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity OTC Portfolio Class K (FOCKX) 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.

	FOCKX	QQQ	Difference
Sharpe ratio: Return per unit of total volatility	3.13	2.33	+0.80
Sortino ratio: Return per unit of downside risk	3.85	3.03	+0.82
Omega ratio: Gain probability vs. loss probability	1.53	1.41	+0.12
Calmar ratio: Return relative to maximum drawdown	5.40	3.44	+1.97
Martin ratio: Return relative to average drawdown	22.89	12.79	+10.11

FOCKX vs. QQQ - Sharpe Ratio Comparison

The current FOCKX Sharpe Ratio is 3.13, which is higher than the QQQ Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of FOCKX 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

FOCKX vs. QQQ - Drawdown Comparison

The maximum FOCKX drawdown since its inception was -53.33%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for FOCKX and QQQ.

Drawdown Indicators

	FOCKX	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-53.33%	-82.97%	+29.64%
Max Drawdown (1Y) Largest decline over 1 year	-11.28%	-11.96%	+0.68%
Max Drawdown (3Y) Largest decline over 3 years	-24.83%	-22.77%	-2.06%
Max Drawdown (5Y) Largest decline over 5 years	-36.97%	-35.12%	-1.85%
Max Drawdown (10Y) Largest decline over 10 years	-36.97%	-35.12%	-1.85%
Current Drawdown Current decline from peak	-0.09%	-0.99%	+0.90%
Average Drawdown Average peak-to-trough decline	-8.36%	-32.73%	+24.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.65%	3.21%	-0.56%

Volatility

FOCKX vs. QQQ - Volatility Comparison

Fidelity OTC Portfolio Class K (FOCKX) and Invesco QQQ ETF (QQQ) have volatilities of 8.83% and 8.47%, 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.

Volatility by Period

	FOCKX	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.83%	8.47%	+0.36%
Volatility (6M) Calculated over the trailing 6-month period	15.86%	14.20%	+1.66%
Volatility (1Y) Calculated over the trailing 1-year period	19.46%	17.67%	+1.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.94%	22.64%	+0.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.58%	22.43%	+0.15%

FOCKX vs. QQQ - Expense Ratio Comparison

FOCKX has a 0.73% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

FOCKX vs. QQQ - Dividend Comparison

FOCKX's dividend yield for the trailing twelve months is around 5.83%, more than QQQ's 0.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FOCKX Fidelity OTC Portfolio Class K	5.83%	7.56%	16.42%	0.09%	3.97%	11.34%	6.18%	7.49%	7.81%	4.85%	3.25%	5.42%
QQQ Invesco QQQ ETF	0.49%	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 FOCKX and QQQ in my portfolio?

With a correlation of 0.93, FOCKX 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, FOCKX or QQQ?

FOCKX has higher volatility (8.83%) compared to QQQ (8.47%). In terms of maximum drawdown, FOCKX dropped -53.33% vs QQQ's -82.97%.

Which has better risk-adjusted returns?

FOCKX currently has the higher Sharpe Ratio (3.13 vs 2.33), 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.