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ONEQ vs. ^NDX
Performance
Risk-Adjusted Performance
Drawdowns
Volatility

Correlation

The correlation between ONEQ and ^NDX is 0.96, 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.


-0.50.00.51.01.0

Performance

ONEQ vs. ^NDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity NASDAQ Composite Index Tracking Stock (ONEQ) and NASDAQ 100 (^NDX). The values are adjusted to include any dividend payments, if applicable.

1,000.00%1,100.00%1,200.00%1,300.00%1,400.00%1,500.00%1,600.00%JulyAugustSeptemberOctoberNovemberDecember
1,197.93%
1,494.29%
ONEQ
^NDX

Key characteristics

Sharpe Ratio

ONEQ:

1.89

^NDX:

1.58

Sortino Ratio

ONEQ:

2.46

^NDX:

2.12

Omega Ratio

ONEQ:

1.34

^NDX:

1.29

Calmar Ratio

ONEQ:

2.53

^NDX:

2.11

Martin Ratio

ONEQ:

9.53

^NDX:

7.52

Ulcer Index

ONEQ:

3.51%

^NDX:

3.80%

Daily Std Dev

ONEQ:

17.75%

^NDX:

18.07%

Max Drawdown

ONEQ:

-55.09%

^NDX:

-82.90%

Current Drawdown

ONEQ:

-2.80%

^NDX:

-3.65%

Returns By Period

In the year-to-date period, ONEQ achieves a 31.26% return, which is significantly higher than ^NDX's 26.53% return. Over the past 10 years, ONEQ has underperformed ^NDX with an annualized return of 16.40%, while ^NDX has yielded a comparatively higher 17.44% annualized return.


ONEQ

YTD

31.26%

1M

3.37%

6M

11.28%

1Y

31.83%

5Y*

18.25%

10Y*

16.40%

^NDX

YTD

26.53%

1M

3.01%

6M

8.06%

1Y

27.04%

5Y*

19.69%

10Y*

17.44%

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Risk-Adjusted Performance

ONEQ vs. ^NDX - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity NASDAQ Composite Index Tracking Stock (ONEQ) and NASDAQ 100 (^NDX). 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.


Sharpe ratio
The chart of Sharpe ratio for ONEQ, currently valued at 1.89, compared to the broader market0.002.004.001.891.58
The chart of Sortino ratio for ONEQ, currently valued at 2.46, compared to the broader market-2.000.002.004.006.008.0010.002.462.12
The chart of Omega ratio for ONEQ, currently valued at 1.34, compared to the broader market0.501.001.502.002.503.001.341.29
The chart of Calmar ratio for ONEQ, currently valued at 2.53, compared to the broader market0.005.0010.0015.002.532.11
The chart of Martin ratio for ONEQ, currently valued at 9.53, compared to the broader market0.0020.0040.0060.0080.00100.009.537.52
ONEQ
^NDX

The current ONEQ Sharpe Ratio is 1.89, which is comparable to the ^NDX Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of ONEQ and ^NDX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio1.001.502.002.503.00JulyAugustSeptemberOctoberNovemberDecember
1.89
1.58
ONEQ
^NDX

Drawdowns

ONEQ vs. ^NDX - Drawdown Comparison

The maximum ONEQ drawdown since its inception was -55.09%, smaller than the maximum ^NDX drawdown of -82.90%. Use the drawdown chart below to compare losses from any high point for ONEQ and ^NDX. For additional features, visit the drawdowns tool.


-14.00%-12.00%-10.00%-8.00%-6.00%-4.00%-2.00%0.00%JulyAugustSeptemberOctoberNovemberDecember
-2.80%
-3.65%
ONEQ
^NDX

Volatility

ONEQ vs. ^NDX - Volatility Comparison

The current volatility for Fidelity NASDAQ Composite Index Tracking Stock (ONEQ) is 5.06%, while NASDAQ 100 (^NDX) has a volatility of 5.35%. This indicates that ONEQ experiences smaller price fluctuations and is considered to be less risky than ^NDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


3.00%4.00%5.00%6.00%7.00%8.00%9.00%JulyAugustSeptemberOctoberNovemberDecember
5.06%
5.35%
ONEQ
^NDX
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Disclaimer

The information contained herein does not constitute investment advice and made available for educational purposes only. Prices and returns on equities are listed without consideration of fees, commissions, taxes, penalties, or interest payable due to purchasing, holding, or selling.

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