ONEQ vs. ^GSPC
Compare and contrast key facts about Fidelity NASDAQ Composite Index Tracking Stock (ONEQ) and S&P 500 (^GSPC).
ONEQ is a passively managed fund by Fidelity that tracks the performance of the NASDAQ Composite Index. It was launched on Sep 25, 2003.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: ONEQ or ^GSPC.
Performance
ONEQ vs. ^GSPC - Performance Comparison
Returns By Period
In the year-to-date period, ONEQ achieves a 27.14% return, which is significantly higher than ^GSPC's 25.15% return. Over the past 10 years, ONEQ has outperformed ^GSPC with an annualized return of 16.04%, while ^GSPC has yielded a comparatively lower 11.18% annualized return.
ONEQ
27.14%
4.10%
12.77%
33.93%
18.54%
16.04%
^GSPC
25.15%
2.74%
12.53%
30.93%
13.79%
11.18%
Key characteristics
| ONEQ | ^GSPC | |
|---|---|---|
| Sharpe Ratio | 1.96 | 2.53 |
| Sortino Ratio | 2.57 | 3.39 |
| Omega Ratio | 1.35 | 1.47 |
| Calmar Ratio | 2.56 | 3.65 |
| Martin Ratio | 9.72 | 16.21 |
| Ulcer Index | 3.49% | 1.91% |
| Daily Std Dev | 17.31% | 12.23% |
| Max Drawdown | -55.09% | -56.78% |
| Current Drawdown | -1.55% | -0.53% |
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Correlation
The correlation between ONEQ and ^GSPC is 0.91, 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.
Risk-Adjusted Performance
ONEQ vs. ^GSPC - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity NASDAQ Composite Index Tracking Stock (ONEQ) and S&P 500 (^GSPC). 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.
Drawdowns
ONEQ vs. ^GSPC - Drawdown Comparison
The maximum ONEQ drawdown since its inception was -55.09%, roughly equal to the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for ONEQ and ^GSPC. For additional features, visit the drawdowns tool.
Volatility
ONEQ vs. ^GSPC - Volatility Comparison
Fidelity NASDAQ Composite Index Tracking Stock (ONEQ) has a higher volatility of 5.71% compared to S&P 500 (^GSPC) at 3.97%. This indicates that ONEQ's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.