FRNW vs. QQQ
Compare and contrast key facts about Fidelity Clean Energy ETF (FRNW) and Invesco QQQ (QQQ).
FRNW and QQQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FRNW is an actively managed fund by Fidelity. It was launched on Oct 5, 2021. 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: FRNW or QQQ.
Correlation
The correlation between FRNW and QQQ is 0.58, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
FRNW vs. QQQ - Performance Comparison
Key characteristics
FRNW:
-0.34
QQQ:
1.43
FRNW:
-0.31
QQQ:
1.95
FRNW:
0.96
QQQ:
1.26
FRNW:
-0.16
QQQ:
1.92
FRNW:
-0.94
QQQ:
6.71
FRNW:
9.21%
QQQ:
3.88%
FRNW:
25.49%
QQQ:
18.19%
FRNW:
-53.35%
QQQ:
-82.98%
FRNW:
-51.92%
QQQ:
-4.51%
Returns By Period
In the year-to-date period, FRNW achieves a 2.00% return, which is significantly higher than QQQ's 0.36% return.
FRNW
2.00%
-0.75%
-8.12%
-6.05%
N/A
N/A
QQQ
0.36%
-4.09%
7.33%
26.75%
18.92%
18.64%
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FRNW vs. QQQ - Expense Ratio Comparison
FRNW has a 0.39% expense ratio, which is higher than QQQ's 0.20% expense ratio.
Risk-Adjusted Performance
FRNW vs. QQQ — Risk-Adjusted Performance Rank
FRNW
QQQ
FRNW vs. QQQ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Clean Energy ETF (FRNW) 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
FRNW vs. QQQ - Dividend Comparison
FRNW's dividend yield for the trailing twelve months is around 1.41%, more than QQQ's 0.55% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FRNW Fidelity Clean Energy ETF | 1.41% | 1.43% | 1.30% | 0.69% | 0.04% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
QQQ Invesco QQQ | 0.55% | 0.56% | 0.62% | 0.80% | 0.43% | 0.55% | 0.74% | 0.91% | 0.84% | 1.06% | 0.99% | 1.41% |
Drawdowns
FRNW vs. QQQ - Drawdown Comparison
The maximum FRNW drawdown since its inception was -53.35%, smaller than the maximum QQQ drawdown of -82.98%. Use the drawdown chart below to compare losses from any high point for FRNW and QQQ. For additional features, visit the drawdowns tool.
Volatility
FRNW vs. QQQ - Volatility Comparison
Fidelity Clean Energy ETF (FRNW) has a higher volatility of 7.81% compared to Invesco QQQ (QQQ) at 6.38%. This indicates that FRNW's price experiences larger fluctuations and is considered to be riskier than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.