IEFA vs. ONEQ

Last updated Apr 2, 2026

Compare and contrast key facts about iShares Core MSCI EAFE ETF (IEFA) and Fidelity NASDAQ Composite Index Tracking Stock (ONEQ).

IEFA and ONEQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IEFA is a passively managed fund by iShares that tracks the performance of the MSCI EAFE Investable Market Index. It was launched on Oct 18, 2012. ONEQ is a passively managed fund by Fidelity that tracks the performance of the NASDAQ Composite Index. It was launched on Sep 25, 2003. Both IEFA and ONEQ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

IEFA vs. ONEQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core MSCI EAFE ETF (IEFA) and Fidelity NASDAQ Composite Index Tracking Stock (ONEQ). The values are adjusted to include any dividend payments, if applicable.

IEFA vs. ONEQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IEFA iShares Core MSCI EAFE ETF	2.74%	32.08%	3.26%	17.95%	-15.24%	11.63%	8.18%	22.64%	-14.14%	26.57%
ONEQ Fidelity NASDAQ Composite Index Tracking Stock	-5.66%	20.89%	29.30%	45.73%	-32.12%	22.11%	44.87%	38.01%	-3.18%	29.29%

Returns By Period

In the year-to-date period, IEFA achieves a 2.74% return, which is significantly higher than ONEQ's -5.66% return. Over the past 10 years, IEFA has underperformed ONEQ with an annualized return of 9.02%, while ONEQ has yielded a comparatively higher 17.32% annualized return.

IEFA

• 1D: 1.52%
• 1M: -4.68%
• YTD: 2.74%
• 6M: 6.58%
• 1Y: 25.75%
• 3Y*: 15.08%
• 5Y*: 8.12%
• 10Y*: 9.02%

ONEQ

• 1D: 1.19%
• 1M: -3.69%
• YTD: -5.66%
• 6M: -3.52%
• 1Y: 26.29%
• 3Y*: 22.37%
• 5Y*: 11.29%
• 10Y*: 17.32%

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

IEFA vs. ONEQ - Expense Ratio Comparison

IEFA has a 0.07% expense ratio, which is lower than ONEQ's 0.21% 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%.

ONEQ

Fidelity NASDAQ Composite Index Tracking Stock

IEFA

iShares Core MSCI EAFE ETF

Return for Risk

IEFA vs. ONEQ — Risk / Return Rank

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

IEFA

IEFA Risk / Return Rank: 78
IEFA Sharpe Ratio Rank: 77
IEFA Sortino Ratio Rank: 79
IEFA Omega Ratio Rank: 77
IEFA Calmar Ratio Rank: 80
IEFA Martin Ratio Rank: 78

ONEQ

ONEQ Risk / Return Rank: 69
ONEQ Sharpe Ratio Rank: 62
ONEQ Sortino Ratio Rank: 67
ONEQ Omega Ratio Rank: 67
ONEQ Calmar Ratio Rank: 76
ONEQ 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.

IEFA vs. ONEQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI EAFE ETF (IEFA) and Fidelity NASDAQ Composite Index Tracking Stock (ONEQ). 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.

	IEFA	ONEQ	Difference
Sharpe ratio Return per unit of total volatility	1.46	1.14	+0.33
Sortino ratio Return per unit of downside risk	2.07	1.75	+0.32
Omega ratio Gain probability vs. loss probability	1.30	1.25	+0.05
Calmar ratio Return relative to maximum drawdown	2.27	2.08	+0.19
Martin ratio Return relative to average drawdown	8.75	7.64	+1.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IEFA vs. ONEQ - Sharpe Ratio Comparison

The current IEFA Sharpe Ratio is 1.46, which is comparable to the ONEQ Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of IEFA and ONEQ, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	IEFA	ONEQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.46	1.14	+0.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	0.51	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.52	0.80	-0.28
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.61	-0.12

Correlation

The correlation between IEFA and ONEQ is 0.71, 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

IEFA vs. ONEQ - Dividend Comparison

IEFA's dividend yield for the trailing twelve months is around 3.46%, more than ONEQ's 0.82% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IEFA iShares Core MSCI EAFE ETF	3.46%	3.55%	3.47%	3.20%	2.70%	3.32%	1.90%	3.18%	3.46%	2.57%	2.96%	2.63%
ONEQ Fidelity NASDAQ Composite Index Tracking Stock	0.82%	0.54%	0.65%	0.71%	0.97%	0.54%	0.71%	2.51%	1.08%	0.84%	1.12%	1.04%

Drawdowns

IEFA vs. ONEQ - Drawdown Comparison

The maximum IEFA drawdown since its inception was -34.78%, smaller than the maximum ONEQ drawdown of -55.09%. Use the drawdown chart below to compare losses from any high point for IEFA and ONEQ.

Drawdown Indicators

	IEFA	ONEQ	Difference
Max Drawdown Largest peak-to-trough decline	-34.78%	-55.09%	+20.31%
Max Drawdown (1Y) Largest decline over 1 year	-11.50%	-13.13%	+1.63%
Max Drawdown (5Y) Largest decline over 5 years	-30.41%	-35.23%	+4.82%
Max Drawdown (10Y) Largest decline over 10 years	-34.78%	-35.23%	+0.45%
Current Drawdown Current decline from peak	-6.75%	-8.26%	+1.51%
Average Drawdown Average peak-to-trough decline	-6.74%	-8.01%	+1.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.98%	3.57%	-0.59%

Volatility

IEFA vs. ONEQ - Volatility Comparison

iShares Core MSCI EAFE ETF (IEFA) has a higher volatility of 7.51% compared to Fidelity NASDAQ Composite Index Tracking Stock (ONEQ) at 7.03%. This indicates that IEFA's price experiences larger fluctuations and is considered to be riskier than ONEQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IEFA	ONEQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.51%	7.03%	+0.48%
Volatility (6M) Calculated over the trailing 6-month period	11.14%	12.96%	-1.82%
Volatility (1Y) Calculated over the trailing 1-year period	17.67%	23.24%	-5.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.36%	22.16%	-5.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.24%	21.67%	-4.43%