ETF Evaluator:
Fidelity Nasdaq Composite ETF (ONEQ)
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(as of Jul 30)
Best Performing in Large Growth Over the Last Year
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ETF Details
Fidelity Nasdaq Composite ETF Overview
Fidelity Nasdaq Composite ETF (ONEQ) is a passively managed U.S. Equity Large Growth exchange-traded fund (ETF). Fidelity Investments launched the ETF in 2003.
The investment seeks to provide investment returns that closely correspond to the price and yield performance of the Nasdaq Composite Index®.
The fund normally invests at least 80% of assets in common stocks included in the index. The advisor uses statistical sampling techniques that take into account such factors as capitalization, industry exposures, dividend yield, price/earnings (P/E) ratio, price/book (P/B) ratio, and earnings growth to create a portfolio of securities listed in the Nasdaq Composite Index® that have a similar investment profile to the entire index.
About Fidelity Nasdaq Composite ETF (ONEQ)
There are 5 members of the management team with an average tenure of 10.92 years: Louis Bottari (2009), Payal Gupta (2019), Peter Matthew (2012), Navid Sohrabi (2019) and Robert Regan (2016). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and NASDAQ Composite TR USD index with a weighting of 100%. Fidelity Nasdaq Composite ETF has 1037 securities in its portfolio. The top 10 holdings constitute 53.4% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Fidelity Nasdaq Composite ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. Fidelity Nasdaq Composite ETF has 3.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 97.3% There is 3.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Fidelity Nasdaq Composite ETF has 2.1% of the portfolio in cash.
Assets Under Management
The fund has $10 billion in total assets, which is above the $8 billion average for the Large Growth category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
ONEQ Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Fidelity Nasdaq Composite ETF expense ratio is below average compared to funds in the Large Growth category. Fidelity Nasdaq Composite ETF has an expense ratio of 0.21%, which is 58% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Fidelity Nasdaq Composite ETF has a portfolio turnover rate of 5%, which indicates that it holds its assets around / 0.2 years. By way of comparison, the average portfolio turnover is 74% for the Large Growth category.
Recently, in the month of June 2026, Fidelity Nasdaq Composite ETF returned -2.7%, which earned it a grade of D, as the Large Growth category had an average return of -0.6%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Fidelity Nasdaq Composite ETF has a trailing yield of 0.52%, which is above the 0.47% category average.
The fund normally distributes its income quarterly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Fidelity Nasdaq Composite ETF Grades
Year to date, the ETF has returned 13.3%, 2.3 percentage points better than the category, which translates into a grade of B. The fund has returned 29.6% over the past year (grade of B), 24.9% over the past three years (grade of B) and 13.7% per year over the past five years (grade of B) and 19.5% per year over the past 10 years (grade of A).
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ONEQ Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| ONEQ Return (NAV) | -2.7% | 21.6% | 29.6% | 24.9% | 13.7% | 19.5% |
| ONEQ Return (Price) | -2.7% | 21.7% | 29.6% | 24.9% | 13.7% | 19.5% |
| NAV +/- Price Return | 0.031% | -0.101% | -0.019% | -0.011% | 0.007% | -0.015% |
| Large Growth Avg | -0.6% | 20.4% | 20.8% | 22.9% | 11.4% | 16.7% |
| ONEQ Grade (NAV) | D | C | B | B | B | A |
| +/- Category (NAV) | -2.1% | 1.3% | 8.8% | 1.9% | 2.3% | 2.8% |
| ONEQ Tax-Cost Ratio | na | na | 0.2% | 0.2% | 0.2% | 0.3% |
ONEQ Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| ONEQ Return (NAV) | 13.3% | 21.0% | 29.4% | 45.3% | -32.1% | 22.4% | 44.8% | 37.0% | -3.1% | 29.2% | 8.9% |
| ONEQ Return (Price) | 13.2% | 20.9% | 29.3% | 45.7% | -32.1% | 22.1% | 44.9% | 37.1% | -3.2% | 29.3% | 8.8% |
| NAV +/- Price Ret | -0.002% | -0.005% | -0.003% | 0.010% | 0.001% | -0.012% | 0.002% | 0.4% | 3.2% | 0.2% | -1.2% |
| Large Growth Avg | 10.9% | 16.8% | 30.4% | 38.6% | -30.8% | 21.3% | 37.6% | 33.1% | -2.0% | 28.2% | 5.0% |
| ONEQ Grade (NAV) | B | A | C | B | D | C | A | A | C | C | A |
| +/- Category | 2.3% | 4.2% | -1.0% | 6.7% | -1.3% | 1.0% | 7.2% | 3.9% | -1.1% | 1.0% | 4.0% |
| Risk Measures | |
| Beta: | 1.29 |
| R-Squared: | 91% |
| Standard Deviation: | 17.6% |
| Category Risk Index: | 0.97 |
| Category Risk Rating: | Average |
| Total Risk Index: | 1.44 |
| Total Risk Rating: | Above Average |
| Portfolio Characteristics | |
| Yield: | 0.5% |
| Total Assets: | $ 10,688 Mil |
| Share Class Assets: | $ 10,688 Mil |
| Turnover: | 5.0% |
| Expense Ratio: | 0.21% |
| Index Fund: | Yes |
| Index Tracked: | S&P 500 (TR) (1970) |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 5 | |||
| Longest Tenure: 17.4 years | |||
| Average Tenure: 10.9 years | |||
| Managers (Year): Bottari Louis (2009), Matthew Peter (2012), Regan Robert (2016), Gupta Payal (2019), Sohrabi Navid (2019) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 1037 |
| % in Top 10 Holdings: | 53.4% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 3.0% |
Portfolio Allocation |
|
| Domestic Stock: | 97.3% |
| Foreign Stock: | 3.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | -2.4% |
| Cash: | 2.1% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Fidelity Investments |
| Phone Number: | 800-343-3548 |
| Website: | www.institutional.fidelity.com |
| Inception Date: | September 25, 2003 |
Expenses and Fees
| Expense Ratio (%): | 0.21% (Rating: Below Avg) |
| Category Average Expense Ratio (%): | 0.50% |
