ONEQ vs. ILCG

Last updated Jun 23, 2026

ONEQ (Fidelity Nasdaq Composite Index ETF) and ILCG (iShares Morningstar Growth ETF) are both Large Cap Growth Equities funds - ONEQ tracks the Nasdaq Composite Index while ILCG tracks the Morningstar US Large-Mid Cap Broad Growth Index Gross. Both are passively managed. Over the past 10 years, ONEQ returned 19.90%/yr vs 18.45%/yr for ILCG. Their correlation of 0.95 suggests significant overlap in exposure. ONEQ charges 0.21%/yr vs 0.04%/yr for ILCG.

Performance

ONEQ vs. ILCG - Performance Comparison

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

Returns By Period

In the year-to-date period, ONEQ achieves a 13.30% return, which is significantly higher than ILCG's 12.43% return. Over the past 10 years, ONEQ has outperformed ILCG with an annualized return of 19.90%, while ILCG has yielded a comparatively lower 18.45% annualized return.

ONEQ

• 1D: -1.15%
• 1M: -0.55%
• YTD: 13.30%
• 6M: 12.39%
• 1Y: 35.91%
• 3Y*: 25.75%
• 5Y*: 14.06%
• 10Y*: 19.90%

ILCG

• 1D: -0.32%
• 1M: 1.10%
• YTD: 12.43%
• 6M: 11.79%
• 1Y: 27.29%
• 3Y*: 25.00%
• 5Y*: 13.51%
• 10Y*: 18.45%

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

ONEQ vs. ILCG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ONEQ Fidelity Nasdaq Composite Index ETF	13.30%	20.89%	29.30%	45.73%	-32.12%	22.11%	44.87%	38.01%	-3.18%	29.29%
ILCG iShares Morningstar Growth ETF	12.43%	16.71%	32.82%	40.41%	-31.75%	24.33%	38.56%	33.22%	2.06%	30.57%

Correlation

The correlation between ONEQ and ILCG is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Jul 2, 2004	0.95

The correlation between ONEQ and ILCG has been stable across timeframes, ranging from 0.95 to 0.98 - a consistent structural relationship.

ONEQ vs. ILCG - Sectors Allocation Comparison

Sectors	ONEQ	ILCG
Technology	54.3%	53.1%
Communication Services	15.4%	13.5%
Consumer Cyclical	12.7%	10.1%
Healthcare	4.7%	5.2%
Consumer Defensive	4.4%	1.4%
Financial Services	2.9%	5.5%
Industrials	2.9%	7.7%
Basic Materials	0.9%	1.0%
Utilities	0.8%	0.7%
Real Estate	0.6%	1.3%
Energy	0.5%	0.4%

Return for Risk

ONEQ vs. ILCG — Risk / Return Rank

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

ONEQ

ONEQ Risk / Return Rank: 62
ONEQ Sharpe Ratio Rank: 66
ONEQ Sortino Ratio Rank: 60
ONEQ Omega Ratio Rank: 63
ONEQ Calmar Ratio Rank: 59
ONEQ Martin Ratio Rank: 62

ILCG

ILCG Risk / Return Rank: 42
ILCG Sharpe Ratio Rank: 47
ILCG Sortino Ratio Rank: 43
ILCG Omega Ratio Rank: 45
ILCG Calmar Ratio Rank: 36
ILCG Martin Ratio Rank: 39

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. ILCG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Nasdaq Composite Index ETF (ONEQ) and iShares Morningstar Growth ETF (ILCG). 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	ILCG	Difference
Sharpe ratio: Return per unit of total volatility	2.09	1.57	+0.52
Sortino ratio: Return per unit of downside risk	2.75	2.12	+0.64
Omega ratio: Gain probability vs. loss probability	1.36	1.28	+0.08
Calmar ratio: Return relative to maximum drawdown	2.86	1.75	+1.10
Martin ratio: Return relative to average drawdown	10.89	6.04	+4.85

ONEQ vs. ILCG - Sharpe Ratio Comparison

The current ONEQ Sharpe Ratio is 2.09, which is higher than the ILCG Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of ONEQ and ILCG, 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. ILCG - Drawdown Comparison

The maximum ONEQ drawdown since its inception was -55.09%, roughly equal to the maximum ILCG drawdown of -52.98%. Use the drawdown chart below to compare losses from any high point for ONEQ and ILCG.

Drawdown Indicators

	ONEQ	ILCG	Difference
Max Drawdown Largest peak-to-trough decline	-55.09%	-52.98%	-2.11%
Max Drawdown (1Y) Largest decline over 1 year	-12.64%	-15.65%	+3.01%
Max Drawdown (3Y) Largest decline over 3 years	-24.09%	-23.10%	-0.99%
Max Drawdown (5Y) Largest decline over 5 years	-35.23%	-35.38%	+0.15%
Max Drawdown (10Y) Largest decline over 10 years	-35.23%	-35.38%	+0.15%
Current Drawdown Current decline from peak	-3.29%	-2.80%	-0.49%
Average Drawdown Average peak-to-trough decline	-7.94%	-8.21%	+0.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.31%	4.53%	-1.22%

Volatility

ONEQ vs. ILCG - Volatility Comparison

Fidelity Nasdaq Composite Index ETF (ONEQ) and iShares Morningstar Growth ETF (ILCG) have volatilities of 7.25% and 7.24%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ONEQ	ILCG	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.25%	7.24%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	13.53%	14.24%	-0.71%
Volatility (1Y) Calculated over the trailing 1-year period	17.28%	17.48%	-0.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.33%	22.18%	+0.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.81%	21.63%	+0.18%

ONEQ vs. ILCG - Expense Ratio Comparison

ONEQ has a 0.21% expense ratio, which is higher than ILCG's 0.04% 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. ILCG - Dividend Comparison

ONEQ's dividend yield for the trailing twelve months is around 0.71%, more than ILCG's 0.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ILCG iShares Morningstar Growth ETF	0.41%	0.47%	0.50%	0.69%	0.75%	0.34%	0.28%	0.54%	0.81%	0.89%	0.95%	0.99%
ONEQ Fidelity Nasdaq Composite Index ETF	0.71%	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 ILCG in my portfolio?

With a correlation of 0.97, ONEQ and ILCG 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 ILCG?

ONEQ has higher volatility (7.25%) compared to ILCG (7.24%). In terms of maximum drawdown, ONEQ dropped -55.09% vs ILCG's -52.98%.

Which ETF is better, ONEQ or ILCG?

On 10-year performance, ONEQ leads with 19.90% vs 18.45% for ILCG. On fees, ILCG is cheaper at 0.04% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ONEQ or ILCG?

Over the 10-year period, ONEQ has performed better with a 19.90% return vs 18.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ONEQ or ILCG?

ILCG is cheaper with a 0.04% expense ratio, compared with 0.21% for ONEQ.

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

ONEQ has the higher dividend yield at 0.71%, compared with 0.41% for ILCG.

What is the main difference between ONEQ and ILCG?

ONEQ tracks Nasdaq Composite Index, while ILCG tracks Morningstar US Large-Mid Cap Broad Growth Index Gross. They also come from different issuers: Fidelity and iShares. Their fees differ too: 0.21% for ONEQ and 0.04% for ILCG.

Which has better risk-adjusted returns?

ONEQ currently has the higher Sharpe Ratio (2.09 vs 1.57), 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.