ONEQ vs. DGRO

Last updated Aug 4, 2026

ONEQ (Fidelity Nasdaq Composite Index ETF) and DGRO (iShares Core Dividend Growth ETF) are both Large Cap Growth Equities funds - ONEQ tracks the Nasdaq Composite Index while DGRO tracks the Morningstar US Dividend Growth Index. Both are passively managed. Over the past 10 years, ONEQ returned 18.60%/yr vs 13.38%/yr for DGRO. Their 0.72 correlation means they have sometimes moved together and sometimes differently. ONEQ charges 0.21%/yr vs 0.08%/yr for DGRO.

Performance

ONEQ vs. DGRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Nasdaq Composite Index ETF (ONEQ) and iShares Core Dividend Growth ETF (DGRO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ONEQ achieves a 12.39% return, which is significantly lower than DGRO's 13.79% return. Over the past 10 years, ONEQ has outperformed DGRO with an annualized return of 18.60%, while DGRO has yielded a comparatively lower 13.38% annualized return.

ONEQ

• 1D: 2.04%
• 1M: 0.40%
• 6M: 10.70%
• YTD: 12.39%
• 1Y: 26.91%
• 3Y*: 24.22%
• 5Y*: 13.06%
• 10Y*: 18.60%
• ALL TIME*: 13.40%

DGRO

• 1D: 0.35%
• 1M: 1.32%
• 6M: 9.21%
• YTD: 13.79%
• 1Y: 24.64%
• 3Y*: 17.09%
• 5Y*: 11.15%
• 10Y*: 13.38%
• ALL TIME*: 12.49%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DGRO iShares Core Dividend Growth ETF	$107.57M	$103.25M	$110.55M
ONEQ Fidelity Nasdaq Composite Index ETF	$34.83M	$32.03M	$39.48M

ONEQ vs. DGRO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ONEQ Fidelity Nasdaq Composite Index ETF	12.39%	20.89%	29.30%	45.73%	-32.12%	22.11%	44.87%	38.01%	-3.18%	29.29%
DGRO iShares Core Dividend Growth ETF	13.79%	15.69%	16.62%	10.47%	-7.91%	26.64%	9.50%	29.87%	-2.38%	23.00%

Correlation

The correlation between ONEQ and DGRO is 0.36, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.36
Correlation (3Y) Balances recent behavior with more history.	0.51
Correlation (5Y) Shows whether the relationship held over a longer period.	0.65
Correlation (10Y) Provides a long-term view across more market conditions.	0.69
Correlation (All Time) Calculated using the full available price history since Jun 12, 2014	0.72

Over the past year, the correlation between ONEQ and DGRO has dropped to 0.36 - well below their long-term average of 0.72, suggesting their price drivers have been diverging.

ONEQ vs. DGRO - Sectors Allocation Comparison

Sectors	ONEQ	DGRO
Technology	53.3%	17.3%
Communication Services	14.3%	0.1%
Consumer Cyclical	11.9%	6.5%
Industrials	5.7%	11.3%
Healthcare	5.1%	17.9%
Consumer Defensive	4.3%	11.9%
Financial Services	2.8%	20.4%
Basic Materials	0.9%	2.5%
Utilities	0.8%	7.3%
Real Estate	0.6%	-
Energy	0.5%	4.8%

Return for Risk

ONEQ vs. DGRO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ONEQ

ONEQ Risk / Return Rank: 60
ONEQ Sharpe Ratio Rank: 63
ONEQ Sortino Ratio Rank: 60
ONEQ Omega Ratio Rank: 58
ONEQ Calmar Ratio Rank: 59
ONEQ Martin Ratio Rank: 58

DGRO

DGRO Risk / Return Rank: 92
DGRO Sharpe Ratio Rank: 94
DGRO Sortino Ratio Rank: 94
DGRO Omega Ratio Rank: 93
DGRO Calmar Ratio Rank: 90
DGRO Martin Ratio Rank: 90

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ONEQ vs. DGRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Nasdaq Composite Index ETF (ONEQ) and iShares Core Dividend Growth ETF (DGRO). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	ONEQ	DGRO	Difference
Sharpe ratio: Return per unit of total volatility	1.48	2.60	-1.12
Sortino ratio: Return per unit of downside risk	2.06	3.77	-1.71
Omega ratio: Gain probability vs. loss probability	1.26	1.48	-0.22
Calmar ratio: Return relative to maximum drawdown	2.14	3.83	-1.69
Martin ratio: Return relative to average drawdown	7.14	14.91	-7.76

ONEQ vs. DGRO - Sharpe Ratio Comparison

The current ONEQ Sharpe Ratio is 1.48, which is lower than the DGRO Sharpe Ratio of 2.60. The chart below compares the historical Sharpe Ratios of ONEQ and DGRO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ONEQ vs. DGRO - Drawdown Comparison

The maximum ONEQ drawdown since its inception was -55.09%, which is greater than DGRO's maximum drawdown of -35.10%. Use the drawdown chart below to compare losses from any high point for ONEQ and DGRO.

Drawdown Indicators

	ONEQ	DGRO	Difference
Max Drawdown Largest peak-to-trough decline	-55.09%	-35.10%	-19.99%
Max Drawdown (1Y) Largest decline over 1 year	-12.64%	-6.47%	-6.17%
Max Drawdown (3Y) Largest decline over 3 years	-24.09%	-14.03%	-10.06%
Max Drawdown (5Y) Largest decline over 5 years	-35.23%	-19.31%	-15.92%
Max Drawdown (10Y) Largest decline over 10 years	-35.23%	-35.10%	-0.13%
Current Drawdown Current decline from peak	-4.07%	-1.01%	-3.06%
Average Drawdown Average peak-to-trough decline	-7.93%	-3.41%	-4.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.78%	1.66%	+2.12%

Volatility

ONEQ vs. DGRO - Volatility Comparison

Fidelity Nasdaq Composite Index ETF (ONEQ) has a higher volatility of 6.04% compared to iShares Core Dividend Growth ETF (DGRO) at 2.88%. This indicates that ONEQ's price experiences larger fluctuations and is considered to be riskier than DGRO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ONEQ	DGRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.04%	2.88%	+3.16%
Volatility (6M) Calculated over the trailing 6-month period	14.67%	7.12%	+7.55%
Volatility (1Y) Calculated over the trailing 1-year period	18.27%	9.54%	+8.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.50%	13.79%	+8.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.83%	16.58%	+5.25%

ONEQ vs. DGRO - Expense Ratio Comparison

ONEQ has a 0.21% expense ratio, which is higher than DGRO's 0.08% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

ONEQ vs. DGRO - Dividend Comparison

ONEQ's dividend yield for the trailing twelve months is around 0.86%, less than DGRO's 1.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DGRO iShares Core Dividend Growth ETF	1.89%	2.09%	2.26%	2.45%	2.34%	1.93%	2.30%	2.21%	2.44%	2.03%	2.27%	2.52%
ONEQ Fidelity Nasdaq Composite Index ETF	0.86%	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 DGRO in my portfolio?

ONEQ and DGRO have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ONEQ or DGRO?

ONEQ has higher volatility (6.04%) compared to DGRO (2.88%). In terms of maximum drawdown, ONEQ dropped -55.09% vs DGRO's -35.10%.

Which ETF is better, ONEQ or DGRO?

On 10-year performance, ONEQ leads with 18.60% vs 13.38% for DGRO. On fees, DGRO is cheaper at 0.08% per year. On volatility, DGRO has been the lower-risk option at 2.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ONEQ or DGRO?

Over the 10-year period, ONEQ has performed better with a 18.60% return vs 13.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ONEQ or DGRO?

DGRO is cheaper with a 0.08% expense ratio, compared with 0.21% for ONEQ.

Which ETF pays a higher dividend yield, ONEQ or DGRO?

DGRO has the higher dividend yield at 1.89%, compared with 0.86% for ONEQ.

What is the main difference between ONEQ and DGRO?

ONEQ tracks Nasdaq Composite Index, while DGRO tracks Morningstar US Dividend Growth Index. They also come from different issuers: Fidelity and iShares. Their fees differ too: 0.21% for ONEQ and 0.08% for DGRO.

Which has better risk-adjusted returns?

DGRO currently has the higher Sharpe Ratio (2.60 vs 1.48), 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.