ONEQ vs. IBM
ONEQ (Fidelity Nasdaq Composite Index ETF) is Large Cap Growth Equities fund tracking the Nasdaq Composite Index, while IBM (International Business Machines Corporation) is a stock. Over the past 10 years, ONEQ returned 18.71%/yr vs 7.64%/yr for IBM. A 0.54 correlation means they provide meaningful diversification when combined.
Performance
ONEQ vs. IBM - Performance Comparison
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Returns By Period
In the year-to-date period, ONEQ achieves a 10.72% return, which is significantly higher than IBM's -27.15% return. Over the past 10 years, ONEQ has outperformed IBM with an annualized return of 18.71%, while IBM has yielded a comparatively lower 7.64% annualized return.
ONEQ
- 1D
- 0.10%
- 1M
- -3.41%
- 6M
- 9.45%
- YTD
- 10.72%
- 1Y
- 23.38%
- 3Y*
- 23.14%
- 5Y*
- 13.01%
- 10Y*
- 18.71%
- ALL TIME*
- 13.35%
IBM
- 1D
- 0.16%
- 1M
- -14.49%
- 6M
- -29.40%
- YTD
- -27.15%
- 1Y
- -23.58%
- 3Y*
- 19.09%
- 5Y*
- 13.91%
- 10Y*
- 7.64%
- ALL TIME*
- 7.00%
ONEQ vs. IBM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ONEQ Fidelity Nasdaq Composite Index ETF | 10.72% | 20.89% | 29.30% | 45.73% | -32.12% | 22.11% | 44.87% | 38.01% | -3.18% | 29.29% |
IBM International Business Machines Corporation | -27.15% | 38.23% | 39.27% | 21.85% | 10.64% | 16.65% | -1.16% | 23.58% | -22.56% | -3.99% |
Correlation
The correlation between ONEQ and IBM 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 | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Oct 1, 2003 | 0.54 |
Over the past year, the correlation between ONEQ and IBM has dropped to 0.22 - well below their long-term average of 0.54, suggesting their price drivers have been diverging.
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Return for Risk
ONEQ vs. IBM — Risk / Return Rank
ONEQ
IBM
ONEQ vs. IBM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Nasdaq Composite Index ETF (ONEQ) and International Business Machines Corporation (IBM). 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 | IBM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.81 | ||
| Sortino ratioReturn per unit of downside risk | +2.23 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 0.94 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 1.86 | -0.66 | +2.52 |
| Martin ratioReturn relative to average drawdown | 6.64 | -1.53 | +8.18 |
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Drawdowns
ONEQ vs. IBM - Drawdown Comparison
The maximum ONEQ drawdown since its inception was -55.09%, smaller than the maximum IBM drawdown of -69.40%. Use the drawdown chart below to compare losses from any high point for ONEQ and IBM.
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Drawdown Indicators
| ONEQ | IBM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.09% | -69.40% | +14.31% |
Max Drawdown (1Y)Largest decline over 1 year | -12.64% | -35.85% | +23.21% |
Max Drawdown (3Y)Largest decline over 3 years | -24.09% | -35.85% | +11.76% |
Max Drawdown (5Y)Largest decline over 5 years | -35.23% | -35.85% | +0.62% |
Max Drawdown (10Y)Largest decline over 10 years | -35.23% | -40.59% | +5.36% |
Current DrawdownCurrent decline from peak | -5.49% | -35.30% | +29.81% |
Average DrawdownAverage peak-to-trough decline | -7.93% | -20.12% | +12.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.53% | 15.44% | -11.91% |
Volatility
ONEQ vs. IBM - Volatility Comparison
The current volatility for Fidelity Nasdaq Composite Index ETF (ONEQ) is 5.70%, while International Business Machines Corporation (IBM) has a volatility of 32.02%. This indicates that ONEQ experiences smaller price fluctuations and is considered to be less risky than IBM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ONEQ | IBM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.70% | 32.02% | -26.32% |
Volatility (6M)Calculated over the trailing 6-month period | 14.25% | 46.34% | -32.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.84% | 48.36% | -30.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.41% | 29.86% | -7.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.79% | 27.97% | -6.18% |
Dividends
ONEQ vs. IBM - Dividend Comparison
ONEQ's dividend yield for the trailing twelve months is around 0.87%, less than IBM's 3.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBM International Business Machines Corporation | 3.16% | 2.27% | 3.03% | 4.05% | 4.68% | 4.74% | 5.17% | 4.80% | 5.46% | 3.85% | 3.31% | 3.63% |
ONEQ Fidelity Nasdaq Composite Index ETF | 0.87% | 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 IBM 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.
IBM has higher volatility (32.02%) compared to ONEQ (5.70%). In terms of maximum drawdown, ONEQ dropped -55.09% vs IBM's -69.40%.
ONEQ currently has the higher Sharpe Ratio (1.32 vs -0.49), 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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