QQQ vs. ONEQ
Compare and contrast key facts about Invesco QQQ (QQQ) and Fidelity NASDAQ Composite Index Tracking Stock (ONEQ).
QQQ and ONEQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QQQ is a passively managed fund by Invesco that tracks the performance of the NASDAQ-100 Index. It was launched on Mar 10, 1999. 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 QQQ 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: QQQ or ONEQ.
Key characteristics
| QQQ | ONEQ | |
|---|---|---|
| YTD Return | 3.82% | 4.45% |
| 1Y Return | 32.66% | 29.95% |
| 3Y Return (Ann) | 8.61% | 5.18% |
| 5Y Return (Ann) | 18.53% | 15.55% |
| 10Y Return (Ann) | 18.13% | 15.53% |
| Sharpe Ratio | 2.00 | 1.87 |
| Daily Std Dev | 16.23% | 15.85% |
| Max Drawdown | -82.98% | -55.09% |
| Current Drawdown | -4.88% | -4.53% |
Correlation
The correlation between QQQ and ONEQ 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.
Performance
QQQ vs. ONEQ - Performance Comparison
In the year-to-date period, QQQ achieves a 3.82% return, which is significantly lower than ONEQ's 4.45% return. Over the past 10 years, QQQ has outperformed ONEQ with an annualized return of 18.13%, while ONEQ has yielded a comparatively lower 15.53% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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QQQ vs. ONEQ - Expense Ratio Comparison
QQQ has a 0.20% expense ratio, which is lower than ONEQ's 0.21% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Risk-Adjusted Performance
QQQ vs. ONEQ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ (QQQ) 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
QQQ vs. ONEQ - Dividend Comparison
QQQ's dividend yield for the trailing twelve months is around 0.62%, less than ONEQ's 0.70% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QQQ Invesco QQQ | 0.62% | 0.62% | 0.80% | 0.43% | 0.55% | 0.74% | 0.91% | 0.84% | 1.06% | 0.99% | 1.41% | 1.01% |
ONEQ Fidelity NASDAQ Composite Index Tracking Stock | 0.70% | 0.71% | 0.97% | 0.54% | 0.71% | 1.64% | 1.08% | 0.84% | 1.12% | 1.04% | 1.19% | 0.84% |
Drawdowns
QQQ vs. ONEQ - Drawdown Comparison
The maximum QQQ drawdown since its inception was -82.98%, which is greater than ONEQ's maximum drawdown of -55.09%. Use the drawdown chart below to compare losses from any high point for QQQ and ONEQ. For additional features, visit the drawdowns tool.
Volatility
QQQ vs. ONEQ - Volatility Comparison
Invesco QQQ (QQQ) and Fidelity NASDAQ Composite Index Tracking Stock (ONEQ) have volatilities of 5.44% and 5.58%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.