ONEQ vs. FTEC

Last updated Jun 27, 2026

ONEQ (Fidelity Nasdaq Composite Index ETF) and FTEC (Fidelity MSCI Information Technology Index ETF) are both exchange-traded funds - ONEQ is a Large Cap Growth Equities fund tracking the Nasdaq Composite Index, while FTEC is a Technology Equities fund tracking the MSCI USA IMI Information Technology 25/50 Index. Both are passively managed. Over the past 10 years, ONEQ returned 19.57%/yr vs 25.17%/yr for FTEC. Their correlation of 0.95 suggests significant overlap in exposure. ONEQ charges 0.21%/yr vs 0.08%/yr for FTEC.

Performance

ONEQ vs. FTEC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Nasdaq Composite Index ETF (ONEQ) and Fidelity MSCI Information Technology Index ETF (FTEC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ONEQ achieves a 9.43% return, which is significantly lower than FTEC's 21.53% return. Over the past 10 years, ONEQ has underperformed FTEC with an annualized return of 19.57%, while FTEC has yielded a comparatively higher 25.17% annualized return.

ONEQ

• 1D: -0.50%
• 1M: -5.15%
• YTD: 9.43%
• 6M: 7.78%
• 1Y: 26.50%
• 3Y*: 24.15%
• 5Y*: 13.10%
• 10Y*: 19.57%

FTEC

• 1D: -1.22%
• 1M: -2.72%
• YTD: 21.53%
• 6M: 19.37%
• 1Y: 40.07%
• 3Y*: 29.33%
• 5Y*: 19.40%
• 10Y*: 25.17%

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

ONEQ vs. FTEC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ONEQ Fidelity Nasdaq Composite Index ETF	9.43%	20.89%	29.30%	45.73%	-32.12%	22.11%	44.87%	38.01%	-3.18%	29.29%
FTEC Fidelity MSCI Information Technology Index ETF	21.53%	22.11%	29.40%	53.30%	-29.59%	30.49%	45.83%	48.93%	-0.39%	36.83%

Correlation

The correlation between ONEQ and FTEC is 0.92, 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	0.92
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 24, 2013	0.95

The correlation between ONEQ and FTEC has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.

ONEQ vs. FTEC - Sectors Allocation Comparison

Sectors	ONEQ	FTEC
Technology	54.3%	98.3%
Communication Services	15.4%	0.0%
Consumer Cyclical	12.7%	0.0%
Healthcare	4.7%	-
Consumer Defensive	4.4%	-
Financial Services	2.9%	0.6%
Industrials	2.9%	0.6%
Basic Materials	0.9%	0.0%
Utilities	0.8%	-
Real Estate	0.6%	-
Energy	0.5%	0.3%

Return for Risk

ONEQ vs. FTEC — Risk / Return Rank

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

ONEQ

ONEQ Risk / Return Rank: 48
ONEQ Sharpe Ratio Rank: 49
ONEQ Sortino Ratio Rank: 46
ONEQ Omega Ratio Rank: 47
ONEQ Calmar Ratio Rank: 47
ONEQ Martin Ratio Rank: 51

FTEC

FTEC Risk / Return Rank: 54
FTEC Sharpe Ratio Rank: 60
FTEC Sortino Ratio Rank: 52
FTEC Omega Ratio Rank: 53
FTEC Calmar Ratio Rank: 56
FTEC Martin Ratio Rank: 49

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. FTEC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Nasdaq Composite Index ETF (ONEQ) and Fidelity MSCI Information Technology Index ETF (FTEC). 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	FTEC	Difference
Sharpe ratio: Return per unit of total volatility	1.54	1.77	-0.23
Sortino ratio: Return per unit of downside risk	2.10	2.29	-0.19
Omega ratio: Gain probability vs. loss probability	1.27	1.30	-0.03
Calmar ratio: Return relative to maximum drawdown	2.11	2.48	-0.37
Martin ratio: Return relative to average drawdown	7.83	7.49	+0.35

ONEQ vs. FTEC - Sharpe Ratio Comparison

The current ONEQ Sharpe Ratio is 1.54, which is comparable to the FTEC Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of ONEQ and FTEC, 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. FTEC - Drawdown Comparison

The maximum ONEQ drawdown since its inception was -55.09%, which is greater than FTEC's maximum drawdown of -34.95%. Use the drawdown chart below to compare losses from any high point for ONEQ and FTEC.

Drawdown Indicators

	ONEQ	FTEC	Difference
Max Drawdown Largest peak-to-trough decline	-55.09%	-34.95%	-20.14%
Max Drawdown (1Y) Largest decline over 1 year	-12.64%	-16.26%	+3.62%
Max Drawdown (3Y) Largest decline over 3 years	-24.09%	-27.30%	+3.21%
Max Drawdown (5Y) Largest decline over 5 years	-35.23%	-34.95%	-0.28%
Max Drawdown (10Y) Largest decline over 10 years	-35.23%	-34.95%	-0.28%
Current Drawdown Current decline from peak	-6.59%	-9.23%	+2.64%
Average Drawdown Average peak-to-trough decline	-7.94%	-5.57%	-2.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.39%	5.37%	-1.98%

Volatility

ONEQ vs. FTEC - Volatility Comparison

The current volatility for Fidelity Nasdaq Composite Index ETF (ONEQ) is 7.45%, while Fidelity MSCI Information Technology Index ETF (FTEC) has a volatility of 11.25%. This indicates that ONEQ experiences smaller price fluctuations and is considered to be less risky than FTEC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ONEQ	FTEC	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.45%	11.25%	-3.80%
Volatility (6M) Calculated over the trailing 6-month period	13.64%	18.61%	-4.97%
Volatility (1Y) Calculated over the trailing 1-year period	17.36%	22.76%	-5.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.35%	25.60%	-3.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.77%	24.84%	-3.07%

ONEQ vs. FTEC - Expense Ratio Comparison

ONEQ has a 0.21% expense ratio, which is higher than FTEC'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. FTEC - Dividend Comparison

ONEQ's dividend yield for the trailing twelve months is around 0.89%, more than FTEC's 0.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTEC Fidelity MSCI Information Technology Index ETF	0.37%	0.43%	0.49%	0.77%	0.93%	0.63%	0.83%	1.03%	1.20%	0.96%	1.25%	1.27%
ONEQ Fidelity Nasdaq Composite Index ETF	0.89%	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 FTEC in my portfolio?

With a correlation of 0.92, ONEQ and FTEC 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 FTEC?

FTEC has higher volatility (11.25%) compared to ONEQ (7.45%). In terms of maximum drawdown, ONEQ dropped -55.09% vs FTEC's -34.95%.

Which ETF is better, ONEQ or FTEC?

On 10-year performance, FTEC leads with 25.17% vs 19.57% for ONEQ. On fees, FTEC is cheaper at 0.08% per year. On volatility, ONEQ has been the lower-risk option at 7.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ONEQ or FTEC?

Over the 10-year period, FTEC has performed better with a 25.17% return vs 19.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ONEQ or FTEC?

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

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

ONEQ has the higher dividend yield at 0.89%, compared with 0.37% for FTEC.

What is the main difference between ONEQ and FTEC?

ONEQ is categorized as Large Cap Growth Equities, while FTEC is Technology Equities. ONEQ tracks Nasdaq Composite Index, while FTEC tracks MSCI USA IMI Information Technology 25/50 Index. Their fees differ too: 0.21% for ONEQ and 0.08% for FTEC.

Which has better risk-adjusted returns?

FTEC currently has the higher Sharpe Ratio (1.77 vs 1.54), 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.