VONG vs. ONEQ

Last updated Jul 21, 2026

VONG (Vanguard Russell 1000 Growth ETF) and ONEQ (Fidelity Nasdaq Composite Index ETF) are both Large Cap Growth Equities funds - VONG tracks the Russell 1000 Growth Index while ONEQ tracks the Nasdaq Composite Index. Both are passively managed. Over the past 10 years, VONG returned 17.53%/yr vs 18.71%/yr for ONEQ. With a 0.95 correlation, they move nearly in lockstep. VONG charges 0.06%/yr vs 0.21%/yr for ONEQ.

Performance

VONG vs. ONEQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Russell 1000 Growth ETF (VONG) and Fidelity Nasdaq Composite Index ETF (ONEQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VONG achieves a 1.26% return, which is significantly lower than ONEQ's 10.72% return. Over the past 10 years, VONG has underperformed ONEQ with an annualized return of 17.53%, while ONEQ has yielded a comparatively higher 18.71% annualized return.

VONG

• 1D: 0.02%
• 1M: -3.07%
• 6M: 1.81%
• YTD: 1.26%
• 1Y: 10.58%
• 3Y*: 20.30%
• 5Y*: 12.21%
• 10Y*: 17.53%
• ALL TIME*: 16.55%

ONEQ

• 1D: 0.10%
• 1M: -3.41%
• 6M: 9.45%
• YTD: 10.72%
• 1Y: 23.38%
• 3Y*: 23.14%
• 5Y*: 13.01%
• 10Y*: 18.71%
• ALL TIME*: 13.35%

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

VONG vs. ONEQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VONG Vanguard Russell 1000 Growth ETF	1.26%	18.45%	33.20%	42.67%	-29.18%	27.60%	38.30%	36.06%	-1.53%	30.05%
ONEQ Fidelity Nasdaq Composite Index ETF	10.72%	20.89%	29.30%	45.73%	-32.12%	22.11%	44.87%	38.01%	-3.18%	29.29%

Correlation

The correlation between VONG and ONEQ is 0.97 - 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	0.97
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 Sep 22, 2010	0.95

The correlation between VONG and ONEQ has been stable across timeframes, ranging from 0.95 to 0.98 - a consistent structural relationship.

VONG vs. ONEQ - Sectors Allocation Comparison

Sectors	VONG	ONEQ
Technology	54.3%	53.3%
Communication Services	16.2%	14.3%
Industrials	9.0%	5.7%
Consumer Cyclical	8.4%	11.9%
Healthcare	5.4%	5.1%
Financial Services	4.2%	2.8%
Consumer Defensive	1.2%	4.3%
Energy	0.5%	0.5%
Real Estate	0.4%	0.6%
Utilities	0.3%	0.8%
Basic Materials	0.3%	0.9%

Return for Risk

VONG vs. ONEQ — Risk / Return Rank

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

VONG

VONG Risk / Return Rank: 22
VONG Sharpe Ratio Rank: 23
VONG Sortino Ratio Rank: 23
VONG Omega Ratio Rank: 22
VONG Calmar Ratio Rank: 20
VONG Martin Ratio Rank: 23

ONEQ

ONEQ Risk / Return Rank: 49
ONEQ Sharpe Ratio Rank: 51
ONEQ Sortino Ratio Rank: 48
ONEQ Omega Ratio Rank: 48
ONEQ Calmar Ratio Rank: 48
ONEQ Martin Ratio Rank: 53

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.

VONG vs. ONEQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Russell 1000 Growth ETF (VONG) and Fidelity Nasdaq Composite Index ETF (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.

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.

	VONG	ONEQ	Difference
Sharpe ratio: Return per unit of total volatility	0.63	1.32	-0.69
Sortino ratio: Return per unit of downside risk	0.96	1.85	-0.88
Omega ratio: Gain probability vs. loss probability	1.12	1.23	-0.12
Calmar ratio: Return relative to maximum drawdown	0.65	1.86	-1.20
Martin ratio: Return relative to average drawdown	2.04	6.64	-4.60

VONG vs. ONEQ - Sharpe Ratio Comparison

The current VONG Sharpe Ratio is 0.63, which is lower than the ONEQ Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of VONG and ONEQ, 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

VONG vs. ONEQ - Drawdown Comparison

The maximum VONG drawdown since its inception was -32.72%, smaller than the maximum ONEQ drawdown of -55.09%. Use the drawdown chart below to compare losses from any high point for VONG and ONEQ.

Drawdown Indicators

	VONG	ONEQ	Difference
Max Drawdown Largest peak-to-trough decline	-32.72%	-55.09%	+22.37%
Max Drawdown (1Y) Largest decline over 1 year	-16.23%	-12.64%	-3.59%
Max Drawdown (3Y) Largest decline over 3 years	-23.27%	-24.09%	+0.82%
Max Drawdown (5Y) Largest decline over 5 years	-32.72%	-35.23%	+2.51%
Max Drawdown (10Y) Largest decline over 10 years	-32.72%	-35.23%	+2.51%
Current Drawdown Current decline from peak	-7.09%	-5.49%	-1.60%
Average Drawdown Average peak-to-trough decline	-4.88%	-7.93%	+3.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.19%	3.53%	+1.66%

Volatility

VONG vs. ONEQ - Volatility Comparison

Vanguard Russell 1000 Growth ETF (VONG) has a higher volatility of 6.36% compared to Fidelity Nasdaq Composite Index ETF (ONEQ) at 5.70%. This indicates that VONG'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.

Volatility by Period

	VONG	ONEQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.36%	5.70%	+0.66%
Volatility (6M) Calculated over the trailing 6-month period	13.59%	14.25%	-0.66%
Volatility (1Y) Calculated over the trailing 1-year period	16.92%	17.84%	-0.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.57%	22.41%	-0.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.97%	21.79%	-0.82%

VONG vs. ONEQ - Expense Ratio Comparison

VONG has a 0.06% 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%.

Dividends

VONG vs. ONEQ - Dividend Comparison

VONG's dividend yield for the trailing twelve months is around 0.47%, less than ONEQ's 0.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ONEQ Fidelity Nasdaq Composite Index ETF	0.87%	0.54%	0.65%	0.71%	0.97%	0.54%	0.71%	2.51%	1.08%	0.84%	1.12%	1.04%
VONG Vanguard Russell 1000 Growth ETF	0.47%	0.45%	0.55%	0.71%	0.98%	0.58%	0.77%	1.03%	1.18%	1.19%	1.48%	1.47%

Frequently Asked Questions

Can I hold both VONG and ONEQ in my portfolio?

With a correlation of 0.97, VONG and ONEQ 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, VONG or ONEQ?

VONG has higher volatility (6.36%) compared to ONEQ (5.70%). In terms of maximum drawdown, VONG dropped -32.72% vs ONEQ's -55.09%.

Which ETF is better, VONG or ONEQ?

On 10-year performance, ONEQ leads with 18.71% vs 17.53% for VONG. On fees, VONG is cheaper at 0.06% per year. On volatility, ONEQ has been the lower-risk option at 5.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VONG or ONEQ?

Over the 10-year period, ONEQ has performed better with a 18.71% return vs 17.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VONG or ONEQ?

VONG is cheaper with a 0.06% expense ratio, compared with 0.21% for ONEQ.

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

ONEQ has the higher dividend yield at 0.87%, compared with 0.47% for VONG.

What is the main difference between VONG and ONEQ?

VONG tracks Russell 1000 Growth Index, while ONEQ tracks Nasdaq Composite Index. They also come from different issuers: Vanguard and Fidelity. Their fees differ too: 0.06% for VONG and 0.21% for ONEQ.

Which has better risk-adjusted returns?

ONEQ currently has the higher Sharpe Ratio (1.32 vs 0.63), 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.