QID vs. ONEQ
Compare and contrast key facts about ProShares UltraShort QQQ (QID) and Fidelity NASDAQ Composite Index Tracking Stock (ONEQ).
QID and ONEQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QID is a passively managed fund by ProShares that tracks the performance of the NASDAQ-100 Index (-200%). It was launched on Jul 11, 2006. ONEQ is a passively managed fund by Fidelity that tracks the performance of the NASDAQ Composite Index. It was launched on Sep 25, 2003. Both QID and ONEQ 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: QID or ONEQ.
Performance
QID vs. ONEQ - Performance Comparison
Returns By Period
In the year-to-date period, QID achieves a -30.24% return, which is significantly lower than ONEQ's 24.90% return. Over the past 10 years, QID has underperformed ONEQ with an annualized return of -35.44%, while ONEQ has yielded a comparatively higher 15.99% annualized return.
QID
-30.24%
-1.95%
-16.58%
-37.49%
-40.45%
-35.44%
ONEQ
24.90%
1.78%
12.31%
33.20%
18.11%
15.99%
Key characteristics
| QID | ONEQ | |
|---|---|---|
| Sharpe Ratio | -1.08 | 1.91 |
| Sortino Ratio | -1.64 | 2.52 |
| Omega Ratio | 0.82 | 1.34 |
| Calmar Ratio | -0.38 | 2.50 |
| Martin Ratio | -1.40 | 9.51 |
| Ulcer Index | 26.81% | 3.48% |
| Daily Std Dev | 34.92% | 17.32% |
| Max Drawdown | -99.97% | -55.09% |
| Current Drawdown | -99.97% | -3.28% |
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QID vs. ONEQ - Expense Ratio Comparison
QID has a 0.95% expense ratio, which is higher than ONEQ's 0.21% expense ratio.
Correlation
The correlation between QID and ONEQ is -0.96. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Risk-Adjusted Performance
QID vs. ONEQ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort QQQ (QID) and Fidelity NASDAQ Composite Index Tracking Stock (ONEQ). 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
QID vs. ONEQ - Dividend Comparison
QID's dividend yield for the trailing twelve months is around 8.91%, more than ONEQ's 0.62% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QID ProShares UltraShort QQQ | 8.91% | 5.64% | 0.15% | 0.00% | 0.92% | 2.54% | 1.38% | 0.07% | 0.00% | 0.00% | 0.00% | 0.00% |
ONEQ Fidelity NASDAQ Composite Index Tracking Stock | 0.62% | 0.71% | 0.97% | 0.54% | 0.71% | 1.64% | 1.08% | 0.84% | 1.12% | 1.04% | 1.19% | 0.84% |
Drawdowns
QID vs. ONEQ - Drawdown Comparison
The maximum QID drawdown since its inception was -99.97%, which is greater than ONEQ's maximum drawdown of -55.09%. Use the drawdown chart below to compare losses from any high point for QID and ONEQ. For additional features, visit the drawdowns tool.
Volatility
QID vs. ONEQ - Volatility Comparison
ProShares UltraShort QQQ (QID) has a higher volatility of 11.21% compared to Fidelity NASDAQ Composite Index Tracking Stock (ONEQ) at 5.97%. This indicates that QID's price experiences larger fluctuations and is considered to be riskier than ONEQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.