ONEQ vs. SCHG

Last updated Jul 17, 2026

ONEQ (Fidelity Nasdaq Composite Index ETF) and SCHG (Schwab U.S. Large-Cap Growth ETF) are both Large Cap Growth Equities funds - ONEQ tracks the Nasdaq Composite Index while SCHG tracks the Dow Jones U.S. Large-Cap Growth Total Stock Market Index. Both are passively managed. Over the past 10 years, ONEQ returned 18.95%/yr vs 18.48%/yr for SCHG. With a 0.96 correlation, they move nearly in lockstep. ONEQ charges 0.21%/yr vs 0.04%/yr for SCHG.

Performance

ONEQ vs. SCHG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Nasdaq Composite Index ETF (ONEQ) and Schwab U.S. Large-Cap Growth ETF (SCHG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ONEQ achieves a 12.09% return, which is significantly higher than SCHG's 6.40% return. Both investments have delivered pretty close results over the past 10 years, with ONEQ having a 18.95% annualized return and SCHG not far behind at 18.48%.

ONEQ

• 1D: -1.55%
• 1M: -1.91%
• 6M: 10.71%
• YTD: 12.09%
• 1Y: 26.00%
• 3Y*: 23.06%
• 5Y*: 13.59%
• 10Y*: 18.95%

SCHG

• 1D: -0.77%
• 1M: 2.08%
• 6M: 6.99%
• YTD: 6.40%
• 1Y: 17.60%
• 3Y*: 21.98%
• 5Y*: 13.84%
• 10Y*: 18.48%

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

ONEQ vs. SCHG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ONEQ Fidelity Nasdaq Composite Index ETF	12.09%	20.89%	29.30%	45.73%	-32.12%	22.11%	44.87%	38.01%	-3.18%	29.29%
SCHG Schwab U.S. Large-Cap Growth ETF	6.40%	17.50%	34.95%	50.10%	-31.80%	28.11%	39.14%	36.02%	-1.36%	28.05%

Correlation

The correlation between ONEQ and SCHG is 0.96 - 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	0.96
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	0.97
Correlation (All Time) Calculated using the full available price history since Dec 11, 2009	0.96

The correlation between ONEQ and SCHG has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.

ONEQ vs. SCHG - Sectors Allocation Comparison

Sectors	ONEQ	SCHG
Technology	54.3%	46.7%
Communication Services	15.4%	15.3%
Consumer Cyclical	12.7%	12.4%
Healthcare	4.7%	8.4%
Consumer Defensive	4.4%	1.6%
Financial Services	2.9%	6.6%
Industrials	2.9%	6.0%
Basic Materials	0.9%	1.3%
Utilities	0.8%	0.4%
Real Estate	0.6%	0.5%
Energy	0.5%	0.7%

Return for Risk

ONEQ vs. SCHG — Risk / Return Rank

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

ONEQ

ONEQ Risk / Return Rank: 51
ONEQ Sharpe Ratio Rank: 53
ONEQ Sortino Ratio Rank: 50
ONEQ Omega Ratio Rank: 49
ONEQ Calmar Ratio Rank: 50
ONEQ Martin Ratio Rank: 54

SCHG

SCHG Risk / Return Rank: 32
SCHG Sharpe Ratio Rank: 36
SCHG Sortino Ratio Rank: 34
SCHG Omega Ratio Rank: 34
SCHG Calmar Ratio Rank: 26
SCHG Martin Ratio Rank: 30

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. SCHG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Nasdaq Composite Index ETF (ONEQ) and Schwab U.S. Large-Cap Growth ETF (SCHG). 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	SCHG	Difference
Sharpe ratio: Return per unit of total volatility	1.47	1.08	+0.39
Sortino ratio: Return per unit of downside risk	2.03	1.53	+0.50
Omega ratio: Gain probability vs. loss probability	1.26	1.19	+0.06
Calmar ratio: Return relative to maximum drawdown	2.07	1.08	+0.99
Martin ratio: Return relative to average drawdown	7.46	3.45	+4.01

ONEQ vs. SCHG - Sharpe Ratio Comparison

The current ONEQ Sharpe Ratio is 1.47, which is higher than the SCHG Sharpe Ratio of 1.08. The chart below compares the historical Sharpe Ratios of ONEQ and SCHG, 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. SCHG - Drawdown Comparison

The maximum ONEQ drawdown since its inception was -55.09%, which is greater than SCHG's maximum drawdown of -34.59%. Use the drawdown chart below to compare losses from any high point for ONEQ and SCHG.

Drawdown Indicators

	ONEQ	SCHG	Difference
Max Drawdown Largest peak-to-trough decline	-55.09%	-34.59%	-20.50%
Max Drawdown (1Y) Largest decline over 1 year	-12.64%	-16.41%	+3.77%
Max Drawdown (3Y) Largest decline over 3 years	-24.09%	-23.39%	-0.70%
Max Drawdown (5Y) Largest decline over 5 years	-35.23%	-34.59%	-0.64%
Max Drawdown (10Y) Largest decline over 10 years	-35.23%	-34.59%	-0.64%
Current Drawdown Current decline from peak	-4.32%	-1.80%	-2.52%
Average Drawdown Average peak-to-trough decline	-7.93%	-5.19%	-2.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.49%	5.11%	-1.62%

Volatility

ONEQ vs. SCHG - Volatility Comparison

Fidelity Nasdaq Composite Index ETF (ONEQ) has a higher volatility of 5.81% compared to Schwab U.S. Large-Cap Growth ETF (SCHG) at 4.61%. This indicates that ONEQ's price experiences larger fluctuations and is considered to be riskier than SCHG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ONEQ	SCHG	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.81%	4.61%	+1.20%
Volatility (6M) Calculated over the trailing 6-month period	14.21%	12.80%	+1.41%
Volatility (1Y) Calculated over the trailing 1-year period	17.76%	16.35%	+1.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.42%	22.41%	+0.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.78%	21.56%	+0.22%

ONEQ vs. SCHG - Expense Ratio Comparison

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

ONEQ's dividend yield for the trailing twelve months is around 0.86%, more than SCHG's 0.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ONEQ Fidelity Nasdaq Composite Index ETF	0.86%	0.54%	0.65%	0.71%	0.97%	0.54%	0.71%	2.51%	1.08%	0.84%	1.12%	1.04%
SCHG Schwab U.S. Large-Cap Growth ETF	0.38%	0.36%	0.39%	0.46%	0.55%	0.42%	0.52%	0.82%	1.27%	1.01%	1.04%	1.22%

Frequently Asked Questions

Can I hold both ONEQ and SCHG in my portfolio?

With a correlation of 0.96, ONEQ and SCHG 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 SCHG?

ONEQ has higher volatility (5.81%) compared to SCHG (4.61%). In terms of maximum drawdown, ONEQ dropped -55.09% vs SCHG's -34.59%.

Which ETF is better, ONEQ or SCHG?

On 10-year performance, ONEQ leads with 18.95% vs 18.48% for SCHG. On fees, SCHG is cheaper at 0.04% per year. On volatility, SCHG has been the lower-risk option at 4.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ONEQ or SCHG?

Over the 10-year period, ONEQ has performed better with a 18.95% return vs 18.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ONEQ or SCHG?

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

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

ONEQ has the higher dividend yield at 0.86%, compared with 0.38% for SCHG.

What is the main difference between ONEQ and SCHG?

ONEQ tracks Nasdaq Composite Index, while SCHG tracks Dow Jones U.S. Large-Cap Growth Total Stock Market Index. They also come from different issuers: Fidelity and Charles Schwab. Their fees differ too: 0.21% for ONEQ and 0.04% for SCHG.

Which has better risk-adjusted returns?

ONEQ currently has the higher Sharpe Ratio (1.47 vs 1.08), 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.