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ONEQ vs. MEME
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ONEQ vs. MEME

Last updated Jun 4, 2026

ONEQ (Fidelity Nasdaq Composite Index ETF) and MEME (Roundhill Meme Stock ETF) are both Large Cap Growth Equities funds. ONEQ is passively managed, while MEME is actively managed. A 0.60 correlation means they provide meaningful diversification when combined. ONEQ charges 0.21%/yr vs 0.69%/yr for MEME.

Performance

ONEQ vs. MEME - Performance Comparison

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

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Returns By Period

In the year-to-date period, ONEQ achieves a 16.16% return, which is significantly lower than MEME's 79.03% return.

ONEQ

1D
-0.85%
1M
7.21%
YTD
16.16%
6M
15.18%
1Y
39.62%
3Y*
27.68%
5Y*
15.43%
10Y*
19.68%

MEME

1D
-5.29%
1M
25.28%
YTD
79.03%
6M
68.18%
1Y
—
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

ONEQ vs. MEME - Yearly Performance Comparison

2026 (YTD)2025
ONEQ
Fidelity Nasdaq Composite Index ETF		16.16%1.04%
MEME
Roundhill Meme Stock ETF		79.03%-36.83%

Correlation

The correlation between ONEQ and MEME is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (All Time)
Calculated using the full available price history since Oct 9, 2025

0.60

ONEQ vs. MEME - Sectors Allocation Comparison

Sectors
ONEQ
MEME

Technology

50.8%
58.8%

Communication Services

16.7%
5.5%

Consumer Cyclical

13.3%

-

Consumer Defensive

5.2%

-

Healthcare

5.1%
5.4%

Financial Services

3.1%
5.7%

Industrials

2.9%
29.9%

Basic Materials

1.0%
4.6%

Utilities

0.9%
10.7%

Real Estate

0.6%

-

Energy

0.6%
4.8%

Technology

ONEQ
50.8%
MEME
58.8%

Communication Services

ONEQ
16.7%
MEME
5.5%

Consumer Cyclical

ONEQ
13.3%
MEME

-

Consumer Defensive

ONEQ
5.2%
MEME

-

Healthcare

ONEQ
5.1%
MEME
5.4%

Financial Services

ONEQ
3.1%
MEME
5.7%

Industrials

ONEQ
2.9%
MEME
29.9%

Basic Materials

ONEQ
1.0%
MEME
4.6%

Utilities

ONEQ
0.9%
MEME
10.7%

Real Estate

ONEQ
0.6%
MEME

-

Energy

ONEQ
0.6%
MEME
4.8%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Fidelity Nasdaq Composite Index ETF

Roundhill Meme Stock ETF

Often compared with ONEQ:
ONEQ vs. QQQONEQ vs. FNCMXONEQ vs. VOOONEQ vs. ^NDXONEQ vs. ^IXICONEQ vs. ^GSPCONEQ vs. QQQM
Often compared with MEME:
MEME vs. AFLGMEME vs. ANEWMEME vs. IWFMEME vs. URAMEME vs. BCHPMEME vs. TMFCMEME vs. QQQM

Return for Risk

ONEQ vs. MEME — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ONEQ
ONEQ Risk / Return Rank: 6868
Overall Rank
ONEQ Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
ONEQ Sortino Ratio Rank: 7070
Sortino Ratio Rank
ONEQ Omega Ratio Rank: 6969
Omega Ratio Rank
ONEQ Calmar Ratio Rank: 6262
Calmar Ratio Rank
ONEQ Martin Ratio Rank: 6767
Martin Ratio Rank
MEME
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. MEME - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Nasdaq Composite Index ETF (ONEQ) and Roundhill Meme Stock ETF (MEME). 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.

ONEQMEMEDifference
Sharpe ratioReturn per unit of total volatility
2.48

—

—

Sortino ratioReturn per unit of downside risk
3.26

—

—

Omega ratioGain probability vs. loss probability

1.43

—

—

Calmar ratioReturn relative to maximum drawdown

3.15

—

—

Martin ratioReturn relative to average drawdown

12.46

—

—

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ONEQ vs. MEME - Sharpe Ratio Comparison

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Sharpe Ratios by Period

ONEQMEMEDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.48

—

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.70

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.91

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.65

0.28

+0.37

Drawdowns

ONEQ vs. MEME - Drawdown Comparison

The maximum ONEQ drawdown since its inception was -55.09%, which is greater than MEME's maximum drawdown of -48.78%. Use the drawdown chart below to compare losses from any high point for ONEQ and MEME.

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Drawdown Indicators

ONEQMEMEDifference

Max Drawdown

Largest peak-to-trough decline

-55.09%

-48.78%

-6.31%

Max Drawdown (1Y)

Largest decline over 1 year

-12.64%

—

—

Max Drawdown (3Y)

Largest decline over 3 years

-24.09%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-35.23%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-35.23%

—

—

Current Drawdown

Current decline from peak

-0.85%

-5.93%

+5.08%

Average Drawdown

Average peak-to-trough decline

-7.95%

-29.90%

+21.95%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.19%

—

—

Volatility

ONEQ vs. MEME - Volatility Comparison

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Volatility by Period

ONEQMEMEDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.20%

—

—

Volatility (6M)

Calculated over the trailing 6-month period

11.96%

—

—

Volatility (1Y)

Calculated over the trailing 1-year period

16.05%

74.19%

-58.14%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.14%

74.19%

-52.05%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.71%

74.19%

-52.48%

ONEQ vs. MEME - Expense Ratio Comparison

ONEQ has a 0.21% expense ratio, which is lower than MEME's 0.69% expense ratio.

Dividends

ONEQ vs. MEME - Dividend Comparison

ONEQ's dividend yield for the trailing twelve months is around 0.67%, while MEME has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
MEME
Roundhill Meme Stock ETF		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		0.67%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 MEME have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, ONEQ is cheaper at 0.21% per year. The better choice depends on whether you care most about return, fees, risk, or income.

ONEQ is cheaper with a 0.21% expense ratio, compared with 0.69% for MEME.

ONEQ has the higher dividend yield at 0.67%, compared with 0.00% for MEME.

They also come from different issuers: Fidelity and Roundhill. Their fees differ too: 0.21% for ONEQ and 0.69% for MEME.

Portfolio Optimizer

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