ONEQ vs QQQ
Fidelity Nasdaq Composite Index ETF vs Invesco QQQ Trust, Series 1
Which is better, ONEQ or QQQ?
Nearly the same fund. QQQ costs less.
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.98. QQQ is less concentrated, with 46.5% of the fund in its ten largest positions against 53.4%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | ONEQ | QQQ |
|---|---|---|
| Expense Ratio | 0.21% | 0.18%Best |
| AUM | $10.4B | $483.5B |
| Dividend Yield | 0.60% | 0.44% |
| Holdings | 1,034 | 107 |
| YTD Return | +13.90% | +16.87%Best |
| 1Y Return | +20.21% | +22.98%Best |
| 3Y Return (annualized) | +24.95% | +24.98%Best |
| 5Y Return (annualized) | +12.86% | +14.39%Best |
| Volatility (annualized) | 17.9%Best | 18.2% |
| Max Drawdown | -55.5% | -53.5%Best |
| $10,000 over 5 years | $18,311 | $19,586Best |
| Top 10 Weight | 53.4% | 46.5%Best |
| Fund Family | Fidelity Investments (US) | Invesco (US) |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Growth |
| Inception | Sep 25, 2003 | Mar 10, 1999 |
Volatility and max drawdown are measured over the window both funds cover: Oct 1, 2003 to Sep 11, 2026 (22.9 years).
ONEQ vs QQQ growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 22.9 years both funds cover.
ONEQ vs QQQ Performance
Fidelity Nasdaq Composite Index ETF (ONEQ) is an ETF from Fidelity Investments (US) and Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US). Over the past year ONEQ returned +20.21% while QQQ returned +22.98%. Year to date, ONEQ is up 13.90% versus a gain of 16.87% for QQQ.
Over three years, ONEQ compounded at +24.95% per year against +24.98% for QQQ; over five years the annualized figures are +12.86% and +14.39% respectively. Across the full 23-year window we track, QQQ has the edge at +14.48% annualized vs +12.44%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 18.2% compared with 17.9% for ONEQ. 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 -55.5% for ONEQ and -53.5% for QQQ. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.98. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
ONEQ charges 0.21% per year while QQQ charges 0.18%. On a $10,000 position that is $21 vs $18 annually, a gap of $3 per year that compounds over a long holding period. On income, ONEQ currently yields 0.60% against 0.44% for QQQ.
Holdings Overlap
82.3% of ONEQ's money is in holdings QQQ also owns. 98.7% of QQQ's money is in holdings ONEQ also owns.
Most of QQQ is already inside ONEQ. Owning both mostly buys the same companies twice.
100 positions in common, counted across the 733 positions we hold weights for in ONEQ and 102 in QQQ, against full books of 1,034 and 107.
What only one of them owns
Our book lists 2 positions for QQQ that do not appear in our book for ONEQ (1.1% of the fund), and 435 for ONEQ that do not appear in QQQ (15.8%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in ONEQ | Weight in QQQ | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 10.62% | 8.44% | 2.18% |
| AAPLApple, Inc | 9.32% | 7.27% | 2.05% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 6.08% | 5.76% | 0.32% |
| AMZNAmazon.Com Inc | 5.62% | 4.67% | 0.95% |
| GOOGLAlphabet A Usd 0.001 | 4.56% | 3.36% | 1.20% |
| GOOGAlphabet Inc | 4.23% | 3.13% | 1.10% |
| MUMicron Technology, Inc. | 2.86% | 4.43% | 1.57% |
| AVGOBroadcom Inc | 3.92% | 3.16% | 0.76% |
| TSLATesla Inc | 3.46% | 2.56% | 0.90% |
| AMDAdvanced Micro Devices Inc. | 2.08% | 3.45% | 1.37% |
98.7% of QQQ is already inside ONEQ.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, ONEQ or QQQ?
ONEQ has an expense ratio of 0.21% while QQQ charges 0.18%. QQQ is the cheaper option, by $3 a year on a $10,000 investment.
Which performed better, ONEQ or QQQ?
Over the past year ONEQ returned +20.21% vs +22.98% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (23 years), ONEQ annualized +12.44% vs +14.48% for QQQ. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, ONEQ or QQQ?
QQQ has been the more volatile fund at 18.2% annualized versus 17.9% for ONEQ. Worst drawdown: ONEQ -55.5% vs QQQ -53.5%.
Should I hold both ONEQ and QQQ?
ONEQ and QQQ have a monthly-return correlation of 0.98, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between ONEQ and QQQ?
98.7% of QQQ's money is in holdings ONEQ also owns. 98.7% of QQQ's is in holdings ONEQ also owns. They hold 100 positions in common, counted across the 733 positions we hold weights for in ONEQ and 102 in QQQ.
Which pays a higher dividend, ONEQ or QQQ?
ONEQ yields 0.60% while QQQ yields 0.44%, so ONEQ currently pays the higher dividend yield.
Is QQQ better than ONEQ?
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.98. QQQ is less concentrated, with 46.5% of the fund in its ten largest positions against 53.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.