ONEQ vs. QQQ
Compare and contrast key facts about Fidelity NASDAQ Composite Index Tracking Stock (ONEQ) and Invesco QQQ (QQQ).
ONEQ and QQQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ONEQ is a passively managed fund by Fidelity that tracks the performance of the NASDAQ Composite Index. It was launched on Sep 25, 2003. QQQ is a passively managed fund by Invesco that tracks the performance of the NASDAQ-100 Index. It was launched on Mar 10, 1999. Both ONEQ and QQQ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: ONEQ or QQQ.
Performance
ONEQ vs. QQQ - Performance Comparison
Returns By Period
In the year-to-date period, ONEQ achieves a 26.98% return, which is significantly higher than QQQ's 23.40% return. Over the past 10 years, ONEQ has underperformed QQQ with an annualized return of 16.14%, while QQQ has yielded a comparatively higher 18.08% annualized return.
ONEQ
26.98%
2.77%
13.24%
34.50%
18.55%
16.14%
QQQ
23.40%
1.56%
10.75%
30.41%
20.90%
18.08%
Key characteristics
| ONEQ | QQQ | |
|---|---|---|
| Sharpe Ratio | 1.95 | 1.71 |
| Sortino Ratio | 2.56 | 2.29 |
| Omega Ratio | 1.35 | 1.31 |
| Calmar Ratio | 2.55 | 2.19 |
| Martin Ratio | 9.69 | 7.95 |
| Ulcer Index | 3.49% | 3.73% |
| Daily Std Dev | 17.33% | 17.38% |
| Max Drawdown | -55.09% | -82.98% |
| Current Drawdown | -1.67% | -2.13% |
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ONEQ vs. QQQ - Expense Ratio Comparison
ONEQ has a 0.21% expense ratio, which is higher than QQQ's 0.20% 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%.
Correlation
The correlation between ONEQ and QQQ is 0.96, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Risk-Adjusted Performance
ONEQ vs. QQQ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity NASDAQ Composite Index Tracking Stock (ONEQ) and Invesco QQQ (QQQ). 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.
Dividends
ONEQ vs. QQQ - Dividend Comparison
ONEQ's dividend yield for the trailing twelve months is around 0.61%, more than QQQ's 0.60% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ONEQ Fidelity NASDAQ Composite Index Tracking Stock | 0.61% | 0.71% | 0.97% | 0.54% | 0.71% | 1.64% | 1.08% | 0.84% | 1.12% | 1.04% | 1.19% | 0.84% |
QQQ Invesco QQQ | 0.60% | 0.62% | 0.80% | 0.43% | 0.55% | 0.74% | 0.91% | 0.84% | 1.06% | 0.99% | 1.41% | 1.02% |
Drawdowns
ONEQ vs. QQQ - Drawdown Comparison
The maximum ONEQ drawdown since its inception was -55.09%, smaller than the maximum QQQ drawdown of -82.98%. Use the drawdown chart below to compare losses from any high point for ONEQ and QQQ. For additional features, visit the drawdowns tool.
Volatility
ONEQ vs. QQQ - Volatility Comparison
Fidelity NASDAQ Composite Index Tracking Stock (ONEQ) has a higher volatility of 6.02% compared to Invesco QQQ (QQQ) at 5.66%. This indicates that ONEQ's price experiences larger fluctuations and is considered to be riskier than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.