ONEQ vs. AGTHX

Last updated Jun 4, 2026

ONEQ (Fidelity Nasdaq Composite Index ETF) and AGTHX (American Funds The Growth Fund of America Class A) are both Large Cap Growth Equities funds. ONEQ is passively managed, while AGTHX is actively managed. Over the past 10 years, ONEQ returned 19.68%/yr vs 15.97%/yr for AGTHX. Their correlation of 0.93 suggests significant overlap in exposure. ONEQ charges 0.21%/yr vs 0.59%/yr for AGTHX.

Performance

ONEQ vs. AGTHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Nasdaq Composite Index ETF (ONEQ) and American Funds The Growth Fund of America Class A (AGTHX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ONEQ achieves a 16.16% return, which is significantly higher than AGTHX's 10.09% return. Over the past 10 years, ONEQ has outperformed AGTHX with an annualized return of 19.68%, while AGTHX has yielded a comparatively lower 15.97% annualized return.

ONEQ

• 1D: -0.85%
• 1M: 7.21%
• YTD: 16.16%
• 6M: 15.18%
• 1Y: 39.62%
• 3Y*: 27.68%
• 5Y*: 15.43%
• 10Y*: 19.68%

AGTHX

• 1D: -0.33%
• 1M: 6.81%
• YTD: 10.09%
• 6M: 9.70%
• 1Y: 26.21%
• 3Y*: 25.16%
• 5Y*: 12.51%
• 10Y*: 15.97%

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

ONEQ vs. AGTHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ONEQ Fidelity Nasdaq Composite Index ETF	16.16%	20.89%	29.30%	45.73%	-32.12%	22.11%	44.87%	38.01%	-3.18%	29.29%
AGTHX American Funds The Growth Fund of America Class A	10.09%	19.73%	28.02%	37.22%	-30.75%	19.32%	37.83%	28.16%	-3.15%	26.14%

Correlation

The correlation between ONEQ and AGTHX is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Oct 2, 2003	0.93

The correlation between ONEQ and AGTHX has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

Return for Risk

ONEQ vs. AGTHX — Risk / Return Rank

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

ONEQ

ONEQ Risk / Return Rank: 68
ONEQ Sharpe Ratio Rank: 74
ONEQ Sortino Ratio Rank: 70
ONEQ Omega Ratio Rank: 69
ONEQ Calmar Ratio Rank: 62
ONEQ Martin Ratio Rank: 67

AGTHX

AGTHX Risk / Return Rank: 34
AGTHX Sharpe Ratio Rank: 38
AGTHX Sortino Ratio Rank: 34
AGTHX Omega Ratio Rank: 37
AGTHX Calmar Ratio Rank: 27
AGTHX Martin Ratio Rank: 33

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.

ONEQ vs. AGTHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Nasdaq Composite Index ETF (ONEQ) and American Funds The Growth Fund of America Class A (AGTHX). 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.

	ONEQ	AGTHX	Difference
Sharpe ratio: Return per unit of total volatility	2.48	1.77	+0.71
Sortino ratio: Return per unit of downside risk	3.26	2.43	+0.83
Omega ratio: Gain probability vs. loss probability	1.43	1.32	+0.11
Calmar ratio: Return relative to maximum drawdown	3.15	1.95	+1.20
Martin ratio: Return relative to average drawdown	12.46	7.61	+4.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ONEQ vs. AGTHX - Sharpe Ratio Comparison

The current ONEQ Sharpe Ratio is 2.48, which is higher than the AGTHX Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of ONEQ and AGTHX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ONEQ	AGTHX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.48	1.77	+0.71
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	0.62	+0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.91	0.81	+0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	0.71	-0.06

Drawdowns

ONEQ vs. AGTHX - Drawdown Comparison

The maximum ONEQ drawdown since its inception was -55.09%, which is greater than AGTHX's maximum drawdown of -51.91%. Use the drawdown chart below to compare losses from any high point for ONEQ and AGTHX.

Drawdown Indicators

	ONEQ	AGTHX	Difference
Max Drawdown Largest peak-to-trough decline	-55.09%	-51.91%	-3.18%
Max Drawdown (1Y) Largest decline over 1 year	-12.64%	-13.76%	+1.12%
Max Drawdown (3Y) Largest decline over 3 years	-24.09%	-21.57%	-2.52%
Max Drawdown (5Y) Largest decline over 5 years	-35.23%	-36.38%	+1.15%
Max Drawdown (10Y) Largest decline over 10 years	-35.23%	-36.38%	+1.15%
Current Drawdown Current decline from peak	-0.85%	-0.33%	-0.52%
Average Drawdown Average peak-to-trough decline	-7.95%	-9.20%	+1.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.19%	3.52%	-0.33%

Volatility

ONEQ vs. AGTHX - Volatility Comparison

Fidelity Nasdaq Composite Index ETF (ONEQ) has a higher volatility of 4.20% compared to American Funds The Growth Fund of America Class A (AGTHX) at 3.67%. This indicates that ONEQ's price experiences larger fluctuations and is considered to be riskier than AGTHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ONEQ	AGTHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.20%	3.67%	+0.53%
Volatility (6M) Calculated over the trailing 6-month period	11.96%	11.65%	+0.31%
Volatility (1Y) Calculated over the trailing 1-year period	16.05%	15.15%	+0.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.14%	20.25%	+1.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.71%	19.69%	+2.02%

ONEQ vs. AGTHX - Expense Ratio Comparison

ONEQ has a 0.21% expense ratio, which is lower than AGTHX's 0.59% expense ratio.

Dividends

ONEQ vs. AGTHX - Dividend Comparison

ONEQ's dividend yield for the trailing twelve months is around 0.67%, less than AGTHX's 9.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AGTHX American Funds The Growth Fund of America Class A	9.71%	10.69%	8.99%	7.40%	4.05%	8.18%	4.30%	7.15%	11.99%	7.03%	6.61%	8.87%
ONEQ Fidelity Nasdaq Composite Index ETF	0.67%	0.54%	0.65%	0.71%	0.97%	0.54%	0.71%	2.51%	1.08%	0.84%	1.12%	1.04%

Frequently Asked Questions

Can I hold both ONEQ and AGTHX in my portfolio?

With a correlation of 0.94, ONEQ and AGTHX 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, ONEQ or AGTHX?

ONEQ has higher volatility (4.20%) compared to AGTHX (3.67%). In terms of maximum drawdown, ONEQ dropped -55.09% vs AGTHX's -51.91%.

Which has better risk-adjusted returns?

ONEQ currently has the higher Sharpe Ratio (2.48 vs 1.77), 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.