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ETF Comparison

ONEQ vs QNDX: Which Is the Better Pick in 2026?

A head-to-head comparison of Fidelity Nasdaq Composite Index ETF and State Street SPDR Portfolio Nasdaq 100 ETF covering yield, cost, risk, and income potential.

Updated September 30, 2026

No track record yet. QNDX launched within the last six months. The forward distribution rate is left blank until a payout is published.

How these figures are calculated: methodology.

Visual comparison

Key metrics

Projected income on $10K

Projections assume the current yield and share price remain constant. Actual results will vary.

Total returns

100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year.

ONEQ has outpaced QNDX over the shared window since Jun 2026, posting a 5.57% total return against 4.36%. Figures are total returns: price change plus every distribution reinvested.

Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
SymbolSince Jun 2026Volatility Sharpe Sortino Max drawdown
ONEQ5.57%17.1%0.911.49-7.0%
QNDX4.36%19.6%0.580.92-10.1%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 30, 2026. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year. “Since Jun 2026” measures every fund from June 24, 2026 — the start of shared available history — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the shared window since Jun 2026. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the shared window since Jun 2026) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricONEQQNDX
Full nameFidelity Nasdaq Composite Index ETFState Street SPDR Portfolio Nasdaq 100 ETF
IssuerFidelity InvestmentsState Street
Underlying indexNasdaq Composite IndexNasdaq-100 Index
Last Close$105.84 as of September 30, 2026$25.06 as of September 30, 2026
Distribution rate0.42%—
Trailing 12-month yield0.48%0.11%
Distribution Safety Score™ 10050
Safety-Adjusted Yield 0.42%—
Expense ratio0.21%0.10%
AUM$10.8B$434M
Distribution frequencyQuarterlyQuarterly
ObjectiveTrack the Nasdaq Composite Index, providing broad exposure to all Nasdaq-listed stocks including large, mid, and small cap companies.Track the Nasdaq-100 Index at a low expense ratio for core large-cap growth equity exposure.
Asset classEquityEquity
Inception date09/25/200306/24/2026
Beta1.3—
Last dividend$0.112$0.027
Ex-dividend date09/18/202609/21/2026

— Distribution rate, Safety-Adjusted Yield, last dividend, and ex-dividend date are not yet available because QNDX launched June 2026; these fields will populate after the first distribution.

Bottom lineWe won't call this one: QNDX launched June 2026, so there is not yet a track record to compare. Compare the strategy, cost and holdings in the sections above and treat any performance figures for the newer ETF as provisional. What is already clear from the numbers above: the two do not cost the same — QNDX charges 0.10% against 0.21% for ONEQ, and on funds tracking the same thing that gap compounds every year you hold.

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Income calculator

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Fidelity Investments
ETFs85
Total AUM$210B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

Fidelity Investments is one of the largest asset managers globally and maintains a substantial presence in the ETF market with a diverse lineup spanning multiple investment strategies. Their offerings cover a wide spectrum of approaches including traditional dividend and income strategies, factor-based and thematic investing, international equity exposure, bond allocations, and index-tracking funds. The issuer is known for both broad market accessibility and specialized strategies, serving investors across various risk profiles and investment objectives.

See our curated list of related YouTube videos on ONEQ.

See all Fidelity Investments ETFs
State Street
ETFs179
Total AUM$2148B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

State Street Global Advisors (SSGA) is one of the largest ETF providers globally, known for its flagship SPDR suite of exchange-traded products that serve both institutional and retail investors across a broad range of asset classes. Their 88-fund lineup spans diverse strategies including sector exposure (Select Sector SPDR), income generation (Income and Select Sector SPDR Premium Income families), commodities (including the widely-held GLD gold ETF), bonds, ESG-focused investments, and thematic allocations, with popular tickers like DIA (Diamonds Trust), FEZ (Eurozone exposure), and JNK (high-yield bonds) among their most recognized funds. The issuer is characterized by its comprehensive coverage across multiple market segments and its emphasis on both traditional index-based products and specialized strategies like covered call income funds and factor-based investing.

See our curated list of related YouTube videos on QNDX.

See all State Street ETFs

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Quick verdict

ONEQ (Fidelity Nasdaq Composite Index ETF) and QNDX (State Street SPDR Portfolio Nasdaq 100 ETF) are both quarterly-pay ETFs, but they take different approaches.

ONEQ currently shows a 0.42% distribution yield. QNDX has not yet established a full distribution history, so a comparable yield figure is not available.

QNDX is cheaper with an expense ratio of 0.10% compared to 0.21%.

They have different reference exposures: ONEQ is linked to Nasdaq Composite Index while QNDX is linked to Nasdaq-100 Index, which means their performance drivers differ.

ONEQ has $10.8B in assets vs $434M for QNDX, but QNDX only launched June 2026 — AUM comparisons will become more meaningful as it builds a track record.

Deep dive

Yield & income

On a $10,000 investment, ONEQ would generate roughly $10.50 cash per distribution, while QNDX has no reported distribution yield yet, so a cash estimate is not available, at current distribution rates. Both pay quarterly distributions.

ONEQ yield0.42%
QNDX yield—

Cost & efficiency

Over 10 years on $10,000, ONEQ would cost approximately $210 in fees vs $100 for QNDX (simplified, not compounded). The $110.00 difference may be offset by yield or performance.

ONEQ ER0.21%
QNDX ER0.10%

Strategy & risk

ONEQ tracks Nasdaq Composite Index with a large cap approach, while QNDX tracks Nasdaq-100 Index with a large cap approach.

ONEQ beta1.3
QNDX beta—

Fund details

ONEQ is managed by Fidelity Investments (launched 09/25/2003) with $10.8B in assets. QNDX is managed by State Street (launched 06/24/2026) with $434M in assets.

ONEQ AUM$10.8B
QNDX AUM$434M
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Frequently asked questions

Which of ONEQ or QNDX pays more dividend income?

ONEQ currently reports a distribution yield, while QNDX has not yet established a full distribution history. A direct income comparison is not yet meaningful — check back once both funds have published several consecutive distributions.

What is the difference between ONEQ and QNDX?

ONEQ (Fidelity Nasdaq Composite Index ETF) tracks Nasdaq Composite Index with a large cap approach, while QNDX (State Street SPDR Portfolio Nasdaq 100 ETF) tracks Nasdaq-100 Index with a large cap approach. They are issued by Fidelity Investments and State Street respectively.

Can I hold both ONEQ and QNDX?

Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.

Is ONEQ or QNDX safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — ONEQ scores 100, QNDX scores 50, so ONEQ's payout currently looks the more resilient of the two. No score makes an investment risk-free — treat this as a screening signal, not a guarantee.

Which has lower fees, ONEQ or QNDX?

ONEQ has an expense ratio of 0.21% while QNDX charges 0.10%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 in ONEQ vs QNDX generate?

At current rates, $10,000 in ONEQ would generate roughly $10.50 cash per distribution ($42.00 annually). QNDX has not established a distribution history yet, so a cash estimate is not available.

Which has performed better historically, ONEQ or QNDX?

ONEQ has outpaced QNDX over the shared window since Jun 2026, posting a 5.57% total return against 4.36%. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

ONEQ vs QNDX — at a glance

Generated September 26, 2026.

Overview

ONEQ and QNDX are both Nasdaq-focused equity ETFs, but they track different indexes with meaningfully different scope. ONEQ tracks the full Nasdaq Composite—all stocks listed on the exchange—while QNDX tracks the Nasdaq-100, which holds the 100 largest non-financial companies. The Composite exposure is broader and includes smaller names; the Nasdaq-100 is more concentrated on mega-cap growth leaders.

How they differ

The fundamental difference is index composition: ONEQ captures the entire Nasdaq Composite across all market caps, while QNDX is confined to the 100 largest non-financial firms, making QNDX far more concentrated in mega-cap technology and growth stocks. ONEQ distributes 0.42% quarterly and carries an 0.21% expense ratio. QNDX carries an 0.10% expense ratio but does not publish a distribution yield.

Who each is best for

  • ONEQ: Investors seeking broad exposure to all Nasdaq-listed companies, including smaller and mid-cap names alongside large-cap names, and who are comfortable with quarterly dividend distributions at a modest yield.
  • QNDX: Investors who want concentrated exposure to the 100 largest Nasdaq names—primarily mega-cap technology and growth leaders—and who prioritize the lowest possible expense ratio over broader diversification.

Key risks to know

  • Concentration in mega-cap technology: QNDX's Nasdaq-100 mandate means heavy weighting in the largest technology and growth stocks; both funds' holdings may overlap significantly, particularly in the largest names.
  • Single-index tracking risk: Both funds replicate their underlying indexes with high fidelity, so performance is locked to index performance—neither fund attempts to outperform, leaving investors fully exposed to sector cycles and valuation compression in Nasdaq-listed stocks.
  • Market-cap weighting concentration: The Nasdaq Composite's structure can drift toward the largest names over time; ONEQ's broader charter still includes thousands of smaller Nasdaq stocks that may underperform during concentrated mega-cap rallies.

Bottom line

If you want broad exposure across all Nasdaq companies and are comfortable with a modest dividend yield, ONEQ's full-Composite mandate fits that profile. If you're seeking concentrated mega-cap technology exposure with the lowest possible fees, QNDX's Nasdaq-100 focus and 0.10% expense ratio offer that approach—though verify trading liquidity given the asset-base size difference. Past performance does not predict future results.

AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.

Learn the method

The metrics behind this comparison, explained in the Academy.

Dividend growth vs. high yield Yield on cost, explained How expense ratios eat returns

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These comparisons follow the Dividend Vision methodology.