FNCMX vs SPY
Fidelity NASDAQ Composite Index vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. FNCMX delivered stronger 1-year returns. FNCMX offers more diversification with 2826 holdings.
Side-by-Side Comparison
| Metric | FNCMX | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.29% | 0.09% | |
| AUM | - | $789.1B | |
| Dividend Yield | 0.45% | 1.01% | |
| Holdings | 2,946 | 505 | |
| YTD Return | +14.87% | +13.39% | |
| 1Y Return | +24.49% | +22.52% | |
| 3Y Return (annualized) | +25.16% | +21.36% | |
| 5Y Return (annualized) | +12.68% | +13.19% | |
| Volatility (annualized) | 20.1% | 15.3% | |
| Max Drawdown | -36.8% | -56.5% | |
| Fund Family | Fidelity Investments (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Sep 25, 2003 | Jan 22, 1993 |
FNCMX vs SPY Performance
Fidelity NASDAQ Composite Index (FNCMX) is a mutual fund from Fidelity Investments (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year FNCMX returned +24.49% while SPY returned +22.52%. Year to date, FNCMX is up 14.87% versus a gain of 13.39% for SPY.
Over three years, FNCMX compounded at +25.16% per year against +21.36% for SPY; over five years the annualized figures are +12.68% and +13.19% respectively. Across the full 5-year window we track, FNCMX has the edge at +12.68% annualized vs +8.84%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FNCMX has been the more volatile fund, with annualized monthly volatility of 20.1% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -36.8% for FNCMX and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.93. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
FNCMX charges 0.29% per year while SPY charges 0.09%. On a $10,000 position that is $29 vs $9 annually, a gap of $20 per year that compounds over a long holding period. On income, FNCMX currently yields 0.45% against 1.01% for SPY.
Holdings Overlap
FNCMX and SPY share 159 holdings out of 3170 unique holdings combined, representing a 51.3% weight overlap.
High overlap means holding both may not provide much additional diversification.
Frequently Asked Questions
Which is cheaper, FNCMX or SPY?
FNCMX has an expense ratio of 0.29% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $20 per year of difference.
Which performed better, FNCMX or SPY?
Over the past year FNCMX returned +24.49% vs +22.52% for SPY, so FNCMX leads on 1-year performance. Over the longest common window we track (5 years), FNCMX annualized +12.68% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, FNCMX or SPY?
FNCMX has been the more volatile fund at 20.1% annualized versus 15.3% for SPY. Worst drawdown: FNCMX -36.8% vs SPY -56.5%.
Should I hold both FNCMX and SPY?
FNCMX and SPY have a monthly-return correlation of 0.93, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between FNCMX and SPY?
FNCMX and SPY share 159 common holdings with a 51.3% weight overlap. Combined, they hold 3170 unique securities.
Which pays a higher dividend, FNCMX or SPY?
FNCMX yields 0.45% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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