ONEQ vs. IAU
ONEQ (Fidelity Nasdaq Composite Index ETF) and IAU (iShares Gold Trust) are both exchange-traded funds - ONEQ is a Large Cap Growth Equities fund tracking the Nasdaq Composite Index, while IAU is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 10 years, ONEQ returned 19.51%/yr vs 12.31%/yr for IAU. At a 0.06 correlation, their price movements are largely independent. ONEQ charges 0.21%/yr vs 0.25%/yr for IAU.
Performance
ONEQ vs. IAU - Performance Comparison
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Returns By Period
In the year-to-date period, ONEQ achieves a 12.04% return, which is significantly higher than IAU's -2.44% return. Over the past 10 years, ONEQ has outperformed IAU with an annualized return of 19.51%, while IAU has yielded a comparatively lower 12.31% annualized return.
ONEQ
- 1D
- 0.33%
- 1M
- -2.72%
- YTD
- 12.04%
- 6M
- 12.27%
- 1Y
- 34.51%
- 3Y*
- 25.07%
- 5Y*
- 14.18%
- 10Y*
- 19.51%
IAU
- 1D
- 0.08%
- 1M
- -9.54%
- YTD
- -2.44%
- 6M
- -2.22%
- 1Y
- 22.32%
- 3Y*
- 29.07%
- 5Y*
- 17.23%
- 10Y*
- 12.31%
ONEQ vs. IAU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ONEQ Fidelity Nasdaq Composite Index ETF | 12.04% | 20.89% | 29.30% | 45.73% | -32.12% | 22.11% | 44.87% | 38.01% | -3.18% | 29.29% |
IAU iShares Gold Trust | -2.44% | 63.95% | 26.85% | 12.84% | -0.63% | -4.00% | 25.03% | 17.98% | -1.76% | 12.91% |
Correlation
The correlation between ONEQ and IAU is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Jan 28, 2005 | 0.06 |
The correlation between ONEQ and IAU shifts across timeframes, from 0.06 (all time) to 0.22 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ONEQ vs. IAU — Risk / Return Rank
ONEQ
IAU
ONEQ vs. IAU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Nasdaq Composite Index ETF (ONEQ) and iShares Gold Trust (IAU). 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 | IAU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.07 | ||
| Sortino ratioReturn per unit of downside risk | +1.33 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.19 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.62 | 0.99 | +1.63 |
| Martin ratioReturn relative to average drawdown | 10.05 | 2.83 | +7.21 |
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Drawdowns
ONEQ vs. IAU - Drawdown Comparison
The maximum ONEQ drawdown since its inception was -55.09%, which is greater than IAU's maximum drawdown of -45.14%. Use the drawdown chart below to compare losses from any high point for ONEQ and IAU.
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Drawdown Indicators
| ONEQ | IAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.09% | -45.14% | -9.95% |
Max Drawdown (1Y)Largest decline over 1 year | -12.64% | -24.40% | +11.76% |
Max Drawdown (3Y)Largest decline over 3 years | -24.09% | -24.40% | +0.31% |
Max Drawdown (5Y)Largest decline over 5 years | -35.23% | -24.40% | -10.83% |
Max Drawdown (10Y)Largest decline over 10 years | -35.23% | -24.40% | -10.83% |
Current DrawdownCurrent decline from peak | -4.37% | -22.03% | +17.66% |
Average DrawdownAverage peak-to-trough decline | -7.95% | -15.97% | +8.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.29% | 8.47% | -5.18% |
Volatility
ONEQ vs. IAU - Volatility Comparison
The current volatility for Fidelity Nasdaq Composite Index ETF (ONEQ) is 6.43%, while iShares Gold Trust (IAU) has a volatility of 7.70%. This indicates that ONEQ experiences smaller price fluctuations and is considered to be less risky than IAU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ONEQ | IAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.43% | 7.70% | -1.27% |
Volatility (6M)Calculated over the trailing 6-month period | 13.17% | 23.94% | -10.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.87% | 27.17% | -10.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.26% | 18.16% | +4.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.77% | 16.02% | +5.75% |
ONEQ vs. IAU - Expense Ratio Comparison
ONEQ has a 0.21% expense ratio, which is lower than IAU's 0.25% expense ratio. Despite the difference, 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. IAU - Dividend Comparison
ONEQ's dividend yield for the trailing twelve months is around 0.69%, while IAU has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IAU iShares Gold Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ONEQ Fidelity Nasdaq Composite Index ETF | 0.69% | 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
ONEQ and IAU have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IAU has higher volatility (7.70%) compared to ONEQ (6.43%). In terms of maximum drawdown, ONEQ dropped -55.09% vs IAU's -45.14%.
On 10-year performance, ONEQ leads with 19.51% vs 12.31% for IAU. On fees, ONEQ is cheaper at 0.21% per year. On volatility, ONEQ has been the lower-risk option at 6.43%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, ONEQ has performed better with a 19.51% return vs 12.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ONEQ is cheaper with a 0.21% expense ratio, compared with 0.25% for IAU.
ONEQ has the higher dividend yield at 0.69%, compared with 0.00% for IAU.
ONEQ is categorized as Large Cap Growth Equities, while IAU is Gold. ONEQ tracks Nasdaq Composite Index, while IAU tracks LBMA Gold Price. They also come from different issuers: Fidelity and iShares. Their fees differ too: 0.21% for ONEQ and 0.25% for IAU.
ONEQ currently has the higher Sharpe Ratio (1.96 vs 0.89), 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.
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