FSPGX vs QQQ
Fidelity Large Cap Growth Index Fund vs Invesco QQQ Trust, Series 1
Quick Verdict
FSPGX has a lower expense ratio. QQQ delivered stronger 1-year returns. FSPGX offers more diversification with 395 holdings.
Side-by-Side Comparison
| Metric | FSPGX | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.04% | 0.18% | |
| AUM | - | $496.3B | |
| Dividend Yield | 0.39% | 0.44% | |
| Holdings | 395 | 108 | |
| YTD Return | +3.97% | +16.64% | |
| 1Y Return | +11.76% | +27.27% | |
| 3Y Return (annualized) | +21.97% | +25.96% | |
| 5Y Return (annualized) | +11.16% | +14.54% | |
| Volatility (annualized) | 19.0% | 30.6% | |
| Max Drawdown | -34.5% | -83.0% | |
| Fund Family | Fidelity Investments (US) | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | Jun 7, 2016 | Mar 10, 1999 |
FSPGX vs QQQ Performance
Fidelity Large Cap Growth Index Fund (FSPGX) is a mutual fund from Fidelity Investments (US) and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year FSPGX returned +11.76% while QQQ returned +27.27%. Year to date, FSPGX is up 3.97% versus a gain of 16.64% for QQQ.
Over three years, FSPGX compounded at +21.97% per year against +25.96% for QQQ; over five years the annualized figures are +11.16% and +14.54% respectively. Across the full 5-year window we track, QQQ has the edge at +13.03% annualized vs +11.16%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 19.0% for FSPGX. 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 -34.5% for FSPGX and -83.0% for QQQ. 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 0.96. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
FSPGX charges 0.04% per year while QQQ charges 0.18%. On a $10,000 position that is $4 vs $18 annually, a gap of $14 per year that compounds over a long holding period. On income, FSPGX currently yields 0.39% against 0.44% for QQQ.
Holdings Overlap
FSPGX and QQQ share 60 holdings out of 435 unique holdings combined, representing a 56.2% weight overlap.
High overlap means holding both may not provide much additional diversification.
Frequently Asked Questions
Which is cheaper, FSPGX or QQQ?
FSPGX has an expense ratio of 0.04% while QQQ charges 0.18%. FSPGX is the cheaper option. On a $10,000 investment, that is $14 per year of difference.
Which performed better, FSPGX or QQQ?
Over the past year FSPGX returned +11.76% vs +27.27% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (5 years), FSPGX annualized +11.16% vs +13.03% for QQQ. Past performance does not guarantee future results.
Which is riskier, FSPGX or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 19.0% for FSPGX. Worst drawdown: FSPGX -34.5% vs QQQ -83.0%.
Should I hold both FSPGX and QQQ?
FSPGX and QQQ have a monthly-return correlation of 0.96, 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 FSPGX and QQQ?
FSPGX and QQQ share 60 common holdings with a 56.2% weight overlap. Combined, they hold 435 unique securities.
Which pays a higher dividend, FSPGX or QQQ?
FSPGX yields 0.39% while QQQ yields 0.44%, so QQQ currently pays the higher dividend yield.
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