QQQ vs. FAGIX
QQQ (Invesco QQQ ETF) and FAGIX (Fidelity Capital & Income Fund) are both funds - QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while FAGIX is a High Yield Bonds fund actively managed by Fidelity. QQQ is passively managed, while FAGIX is actively managed. Over the past 10 years, QQQ returned 21.79%/yr vs 8.03%/yr for FAGIX. A 0.58 correlation means they provide meaningful diversification when combined. QQQ charges 0.18%/yr vs 0.67%/yr for FAGIX.
Performance
QQQ vs. FAGIX - Performance Comparison
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Returns By Period
In the year-to-date period, QQQ achieves a 17.57% return, which is significantly higher than FAGIX's 7.40% return. Over the past 10 years, QQQ has outperformed FAGIX with an annualized return of 21.79%, while FAGIX has yielded a comparatively lower 8.03% annualized return.
QQQ
- 1D
- 0.59%
- 1M
- 0.93%
- YTD
- 17.57%
- 6M
- 17.85%
- 1Y
- 35.82%
- 3Y*
- 26.43%
- 5Y*
- 16.85%
- 10Y*
- 21.79%
FAGIX
- 1D
- 1.15%
- 1M
- 0.25%
- YTD
- 7.40%
- 6M
- 7.95%
- 1Y
- 16.73%
- 3Y*
- 12.87%
- 5Y*
- 6.75%
- 10Y*
- 8.03%
QQQ vs. FAGIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
QQQ Invesco QQQ ETF | 17.57% | 20.77% | 25.58% | 54.86% | -32.58% | 27.42% | 48.62% | 38.96% | -0.13% | 32.66% |
FAGIX Fidelity Capital & Income Fund | 7.40% | 12.38% | 10.69% | 13.02% | -11.50% | 11.13% | 9.95% | 18.96% | -7.17% | 11.66% |
Correlation
The correlation between QQQ and FAGIX is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Mar 10, 1999 | 0.58 |
Over the past year, QQQ and FAGIX have become more correlated (0.82) than their long-term average of 0.58, meaning their price movements have been converging.
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Return for Risk
QQQ vs. FAGIX — Risk / Return Rank
QQQ
FAGIX
QQQ vs. FAGIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ ETF (QQQ) and Fidelity Capital & Income Fund (FAGIX). 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.
| QQQ | FAGIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.54 | ||
| Sortino ratioReturn per unit of downside risk | -1.02 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.52 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 3.01 | 4.85 | -1.84 |
| Martin ratioReturn relative to average drawdown | 11.22 | 19.86 | -8.64 |
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Drawdowns
QQQ vs. FAGIX - Drawdown Comparison
The maximum QQQ drawdown since its inception was -82.97%, which is greater than FAGIX's maximum drawdown of -37.97%. Use the drawdown chart below to compare losses from any high point for QQQ and FAGIX.
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Drawdown Indicators
| QQQ | FAGIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.97% | -37.97% | -45.00% |
Max Drawdown (1Y)Largest decline over 1 year | -11.96% | -3.49% | -8.47% |
Max Drawdown (3Y)Largest decline over 3 years | -22.77% | -7.26% | -15.51% |
Max Drawdown (5Y)Largest decline over 5 years | -35.12% | -15.42% | -19.70% |
Max Drawdown (10Y)Largest decline over 10 years | -35.12% | -28.45% | -6.67% |
Current DrawdownCurrent decline from peak | -3.33% | -1.04% | -2.29% |
Average DrawdownAverage peak-to-trough decline | -32.75% | -6.98% | -25.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.20% | 0.85% | +2.35% |
Volatility
QQQ vs. FAGIX - Volatility Comparison
Invesco QQQ ETF (QQQ) has a higher volatility of 7.56% compared to Fidelity Capital & Income Fund (FAGIX) at 2.71%. This indicates that QQQ's price experiences larger fluctuations and is considered to be riskier than FAGIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QQQ | FAGIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.56% | 2.71% | +4.85% |
Volatility (6M)Calculated over the trailing 6-month period | 13.81% | 5.30% | +8.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.19% | 6.42% | +10.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.55% | 6.66% | +15.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.38% | 7.84% | +14.54% |
QQQ vs. FAGIX - Expense Ratio Comparison
QQQ has a 0.18% expense ratio, which is lower than FAGIX's 0.67% expense ratio.
Dividends
QQQ vs. FAGIX - Dividend Comparison
QQQ's dividend yield for the trailing twelve months is around 0.39%, less than FAGIX's 4.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FAGIX Fidelity Capital & Income Fund | 4.47% | 4.74% | 5.02% | 5.28% | 10.25% | 6.08% | 4.59% | 5.00% | 5.67% | 5.05% | 4.57% | 4.51% |
QQQ Invesco QQQ ETF | 0.39% | 0.45% | 0.56% | 0.62% | 0.80% | 0.43% | 0.55% | 0.74% | 0.91% | 0.84% | 1.06% | 0.99% |
Frequently Asked Questions
QQQ and FAGIX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QQQ has higher volatility (7.56%) compared to FAGIX (2.71%). In terms of maximum drawdown, QQQ dropped -82.97% vs FAGIX's -37.97%.
FAGIX currently has the higher Sharpe Ratio (2.63 vs 2.09), 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.
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