QQQ vs. FDIS

Last updated Jun 13, 2026

QQQ (Invesco QQQ ETF) and FDIS (Fidelity MSCI Consumer Discretionary Index ETF) are both exchange-traded funds - QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while FDIS is a Consumer Discretionary Equities fund tracking the MSCI USA IMI Consumer Discretionary Index. Both are passively managed. Over the past 10 years, QQQ returned 21.79%/yr vs 13.98%/yr for FDIS. Their correlation of 0.83 suggests significant overlap in exposure. QQQ charges 0.18%/yr vs 0.08%/yr for FDIS.

Performance

QQQ vs. FDIS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco QQQ ETF (QQQ) and Fidelity MSCI Consumer Discretionary Index ETF (FDIS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQQ achieves a 17.57% return, which is significantly higher than FDIS's 0.01% return. Over the past 10 years, QQQ has outperformed FDIS with an annualized return of 21.79%, while FDIS has yielded a comparatively lower 13.98% annualized return.

QQQ

• 1D: 0.59%
• 1M: 0.22%
• YTD: 17.57%
• 6M: 17.85%
• 1Y: 37.55%
• 3Y*: 26.43%
• 5Y*: 16.85%
• 10Y*: 21.79%

FDIS

• 1D: 0.20%
• 1M: 0.16%
• YTD: 0.01%
• 6M: -1.14%
• 1Y: 12.39%
• 3Y*: 13.37%
• 5Y*: 6.04%
• 10Y*: 13.98%

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

QQQ vs. FDIS - 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%
FDIS Fidelity MSCI Consumer Discretionary Index ETF	0.01%	5.67%	24.43%	40.48%	-35.23%	24.25%	49.50%	27.44%	-0.88%	22.96%

Correlation

The correlation between QQQ and FDIS is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.83
Correlation (All Time) Calculated using the full available price history since Oct 24, 2013	0.83

The correlation between QQQ and FDIS shifts across timeframes, from 0.71 (1 year) to 0.84 (5 years), reflecting how their relationship changes across market environments.

QQQ vs. FDIS - Sectors Allocation Comparison

Sectors	QQQ	FDIS
Technology	53.8%	0.9%
Communication Services	15.8%	0.2%
Consumer Cyclical	12.3%	96.9%
Consumer Defensive	7.7%	1.0%
Healthcare	4.2%	0.1%
Industrials	2.8%	0.8%
Utilities	1.4%	-
Basic Materials	1.1%	-
Energy	0.6%	-
Financial Services	0.2%	0.1%
Real Estate	0.1%	0.1%

Return for Risk

QQQ vs. FDIS — Risk / Return Rank

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

QQQ

QQQ Risk / Return Rank: 71
QQQ Sharpe Ratio Rank: 75
QQQ Sortino Ratio Rank: 70
QQQ Omega Ratio Rank: 73
QQQ Calmar Ratio Rank: 69
QQQ Martin Ratio Rank: 70

FDIS

FDIS Risk / Return Rank: 20
FDIS Sharpe Ratio Rank: 21
FDIS Sortino Ratio Rank: 20
FDIS Omega Ratio Rank: 19
FDIS Calmar Ratio Rank: 19
FDIS Martin Ratio Rank: 21

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.

QQQ vs. FDIS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ ETF (QQQ) and Fidelity MSCI Consumer Discretionary Index ETF (FDIS). 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	FDIS	Difference
Sharpe ratio: Return per unit of total volatility	2.09	0.61	+1.49
Sortino ratio: Return per unit of downside risk	2.73	0.97	+1.76
Omega ratio: Gain probability vs. loss probability	1.37	1.11	+0.25
Calmar ratio: Return relative to maximum drawdown	3.01	0.72	+2.28
Martin ratio: Return relative to average drawdown	11.22	2.24	+8.99

QQQ vs. FDIS - Sharpe Ratio Comparison

The current QQQ Sharpe Ratio is 2.09, which is higher than the FDIS Sharpe Ratio of 0.61. The chart below compares the historical Sharpe Ratios of QQQ and FDIS, 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

QQQ vs. FDIS - Drawdown Comparison

The maximum QQQ drawdown since its inception was -82.97%, which is greater than FDIS's maximum drawdown of -39.16%. Use the drawdown chart below to compare losses from any high point for QQQ and FDIS.

Drawdown Indicators

	QQQ	FDIS	Difference
Max Drawdown Largest peak-to-trough decline	-82.97%	-39.16%	-43.81%
Max Drawdown (1Y) Largest decline over 1 year	-11.96%	-15.50%	+3.54%
Max Drawdown (3Y) Largest decline over 3 years	-22.77%	-27.43%	+4.66%
Max Drawdown (5Y) Largest decline over 5 years	-35.12%	-39.16%	+4.04%
Max Drawdown (10Y) Largest decline over 10 years	-35.12%	-39.16%	+4.04%
Current Drawdown Current decline from peak	-3.33%	-4.58%	+1.25%
Average Drawdown Average peak-to-trough decline	-32.75%	-7.49%	-25.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.20%	5.01%	-1.81%

Volatility

QQQ vs. FDIS - Volatility Comparison

Invesco QQQ ETF (QQQ) has a higher volatility of 7.56% compared to Fidelity MSCI Consumer Discretionary Index ETF (FDIS) at 6.19%. This indicates that QQQ's price experiences larger fluctuations and is considered to be riskier than FDIS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQ	FDIS	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.56%	6.19%	+1.37%
Volatility (6M) Calculated over the trailing 6-month period	13.81%	13.44%	+0.37%
Volatility (1Y) Calculated over the trailing 1-year period	17.19%	18.52%	-1.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.55%	23.92%	-1.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.38%	22.32%	+0.06%

QQQ vs. FDIS - Expense Ratio Comparison

QQQ has a 0.18% expense ratio, which is higher than FDIS's 0.08% 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

QQQ vs. FDIS - Dividend Comparison

QQQ's dividend yield for the trailing twelve months is around 0.39%, less than FDIS's 0.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDIS Fidelity MSCI Consumer Discretionary Index ETF	0.73%	0.75%	0.69%	0.78%	1.00%	0.58%	0.59%	1.14%	1.29%	1.00%	1.62%	1.25%
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

Can I hold both QQQ and FDIS in my portfolio?

QQQ and FDIS have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QQQ or FDIS?

QQQ has higher volatility (7.56%) compared to FDIS (6.19%). In terms of maximum drawdown, QQQ dropped -82.97% vs FDIS's -39.16%.

Which ETF is better, QQQ or FDIS?

On 10-year performance, QQQ leads with 21.79% vs 13.98% for FDIS. On fees, FDIS is cheaper at 0.08% per year. On volatility, FDIS has been the lower-risk option at 6.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQQ or FDIS?

Over the 10-year period, QQQ has performed better with a 21.79% return vs 13.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQQ or FDIS?

FDIS is cheaper with a 0.08% expense ratio, compared with 0.18% for QQQ.

Which ETF pays a higher dividend yield, QQQ or FDIS?

FDIS has the higher dividend yield at 0.73%, compared with 0.39% for QQQ.

What is the main difference between QQQ and FDIS?

QQQ is categorized as Nasdaq-100, while FDIS is Consumer Discretionary Equities. QQQ tracks NASDAQ-100 Index, while FDIS tracks MSCI USA IMI Consumer Discretionary Index. They also come from different issuers: Invesco and Fidelity. Their fees differ too: 0.18% for QQQ and 0.08% for FDIS.

Which has better risk-adjusted returns?

QQQ currently has the higher Sharpe Ratio (2.09 vs 0.61), 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.