ONEQ — Fidelity Nasdaq Composite Index ETF

ONEQ Price Performance — Growth of $10,000

Value of a $10,000 investment in ONEQ over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

ONEQ Drawdown

The "underwater" chart: ONEQ's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The Fidelity Nasdaq Composite Index ETF, trading under the ticker ONEQ, operates within the US Large Cap Growth category managed by Fidelity Investments. This fund holds $10.7 billion in assets and trades at a price of $98.35, reflecting significant investor adoption relative to its category peers. It carries an expense ratio of 0.21% and offers a dividend yield of 0.52%. In the broader landscape of 458 tracked ETFs, ONEQ holds an overall rank of #183 and has received an ETFValuer grade of C with a score of 63.8 out of 100. Within its specific category of 13 ETFs, the fund's positioning suggests it is a mid-tier option among large-cap growth vehicles. The combination of its substantial assets under management and moderate cost structure indicates a mature product designed for broad exposure to the Nasdaq Composite.

Recent price action shows a decline over the shortest horizons, with the fund down 0.62% in one day and 2.09% over the past week. The one-month return of -2.00% contrasts with a positive trajectory emerging over the next three months, where the fund gained 2.26%. This upward momentum accelerated significantly over the six-month period to a return of 7.01%, contributing to a year-to-date gain of 7.94%. The longer-term performance demonstrates strong growth, with a one-year return of 19.69% and a three-year return of 78.02%. While short-term fluctuations have been negative, the extended timeframes highlight a robust recovery and growth trend. This pattern illustrates a divergence between immediate market pressures and sustained long-term appreciation.

The fund is assigned a Moderate volatility label and exhibits a beta of 1.29, indicating that its price movements tend to be more pronounced than the broader market. A Sharpe ratio of 0.82 suggests the fund has generated a reasonable amount of excess return per unit of risk taken over the measured period. However, the maximum drawdown of -24.09% reveals the potential for significant temporary losses during market downturns. This combination of a beta above 1.0 and a substantial drawdown implies the fund amplifies market swings, offering higher potential returns alongside higher downside risk. Investors should expect the fund to react more aggressively than the average asset in both rising and falling environments.

AI-generated summary based on the data on this page.

ONEQ Top Holdings

Holdings as of 2026-05-31 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 57.8% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how ONEQ's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With ONEQ

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with ONEQ's top 10 — VT overlaps most, holding 8 of the same companies as ONEQ's top 10 (55.3% of ONEQ's assets).

Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.

Market Backdrop

10-Year Treasury Yield: 4.71% (as of 2026-07-23) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 18.70 (as of 2026-07-23) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.63% (as of 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

ONEQ Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 0.34% and average daily volume is 383K/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $10.7B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: ONEQ is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

ONEQ Performance History

How ONEQ Compares to Other US Large Cap Growth ETFs