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ETF Comparison

ONEQ vs QQQ: The Whole Exchange or Just Its Giants?

A head-to-head comparison of the Fidelity Nasdaq Composite ETF and the Invesco QQQ Trust covering index breadth, small-cap tail, concentration, and cost.

Data updated August 20, 2026

Best for

  • ONEQInvestors who want the broader Nasdaq Composite, including mid- and small-cap companies.
  • QQQInvestors who want focused exposure to the 100 largest non-financial Nasdaq companies.

Jump to the side-by-side numbers

Visual comparison

Key metrics

Projected income on $10K

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

Total returns

ONEQ has lagged QQQ over the trailing twelve months, posting a 22.63% total return against 24.68%. The lead holds up over 10 years too: QQQ has compounded at 20.68% a year, against 18.51% for ONEQ. 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.
SymbolYTD1Y3Y5Y10YSince Oct 2003Volatility Sharpe Sortino Max drawdown
ONEQ13.87%22.63%25.91%13.74%18.51%13.32%20.3%0.921.32-24.1%
QQQ17.07%24.68%26.08%15.29%20.68%15.22%20.5%0.921.32-22.8%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of August 19, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Oct 2003” measures every fund from October 1, 2003 — the youngest fund's first trading day — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the trailing 3 years. 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 trailing 3 years) — 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.
MetricONEQQQQ
Full nameFidelity Nasdaq Composite Index ETFInvesco QQQ Trust
IssuerFidelity InvestmentsInvesco
Last Close$103.75 as of August 20, 2026$716.08 as of August 20, 2026
Distribution yield0.55%0.45%
Distribution Safety Score™ 10097
Expense ratio0.21%0.18%
AUM$10.7B$489B
Distribution frequencyQuarterlyQuarterly
Underlying indexNasdaq Composite IndexNasdaq-100 Index
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, which includes 100 of the largest non-financial Nasdaq stocks.
Asset classEquityEquity
Inception date09/25/200303/10/1999
Beta1.31.26
Last dividend$0.1430$0.8135
Ex-dividend date06/18/202606/22/2026

Bottom lineChoose ONEQ if you want the broader Nasdaq Composite, including mid- and small-cap companies. Choose QQQ if you want focused exposure to the 100 largest non-financial Nasdaq companies.

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Income calculator

See how much monthly income a hypothetical investment would generate in each ETF at current yields.

Fidelity Investments
ETFs82
Total AUM$202B

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

Fidelity Investments is a major player in the ETF space, known for offering a comprehensive range of funds across diverse investment strategies and asset classes. Their lineup of 67 ETFs spans allocation, bond, dividend, equity, factor-based, income, index, international, and sector-focused strategies, with notable offerings including their Fidelity Factor and Fidelity Yield Enhanced families designed to capture specific market premiums and enhance income generation. The issuer serves both broad market investors and those seeking specialized exposure, with popular tickers like FBTC (their Bitcoin ETF) and various dividend and income-focused funds catering to different investor objectives and risk profiles.

See our curated list of related YouTube videos on ONEQ.

See all Fidelity Investments ETFs
Invesco
ETFs247
Total AUM$1000B

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

Invesco is a major ETF provider known for offering a comprehensive lineup spanning multiple asset classes and investment strategies. The company specializes in income-focused products including dividend, covered call, and bond strategies, while also maintaining broad exposure across equity, factor-based, thematic, and ESG investing themes. Invesco's portfolio ranges from index-tracking funds to alternatives and specialized offerings like digital assets and BulletShares, making it one of the more expansive ETF families available to investors.

See our curated list of related YouTube videos on QQQ.

See all Invesco ETFs

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Quick verdict

ONEQ (Fidelity Nasdaq Composite Index ETF) and QQQ (Invesco QQQ Trust) are both quarterly-pay dividend ETFs, but they take different approaches.

ONEQ offers the higher yield at 0.55% vs 0.45% for QQQ. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

QQQ is cheaper with an expense ratio of 0.18% compared to 0.21%.

They track different benchmarks: ONEQ is linked to Nasdaq Composite Index while QQQ tracks Nasdaq-100 Index, which means their performance drivers differ.

QQQ is the larger fund by assets ($489B), which generally means tighter spreads and better liquidity.

Who should choose each?

Choose ONEQ

Fidelity Nasdaq Composite Index ETF

  • Want the broader Nasdaq Composite, including mid- and small caps.
  • Want a growth tilt and can accept larger swings for more upside.

Choose QQQ

Invesco QQQ Trust

  • Want focused Nasdaq-100 exposure to the exchange's largest non-financial companies.
  • Want a growth tilt and can accept larger swings for more upside.
  • Want to keep costs low — a 0.18% expense ratio vs 0.21% for ONEQ.

Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.

Deep dive

Yield & income

On a $10,000 investment, ONEQ would generate roughly $4.58/month, while QQQ would produce $3.75/month, at current distribution rates. Both pay quarterly distributions.

ONEQ yield0.55%
QQQ yield0.45%
Monthly diff on $10K$0.83

Cost & efficiency

Over 10 years on $10,000, ONEQ would cost approximately $210 in fees vs $180 for QQQ (simplified, not compounded). The $30.00 difference may be offset by yield or performance.

ONEQ ER0.21%
QQQ ER0.18%

Strategy & risk

ONEQ tracks Nasdaq Composite Index with a large cap approach, while QQQ tracks Nasdaq-100 Index with a growth approach. Beta is 1.3 for ONEQ and 1.26 for QQQ — effectively similar market sensitivity.

ONEQ beta1.3
QQQ beta1.26

Fund details

ONEQ is managed by Fidelity Investments (launched 09/25/2003) with $10.7B in assets. QQQ is managed by Invesco (launched 03/10/1999) with $489B in assets.

ONEQ AUM$10.7B
QQQ AUM$489B
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Frequently asked questions

What is the current distribution yield for ONEQ and QQQ?

ONEQ currently distributes 0.55% and QQQ 0.45%, based on fund data updated August 2026. Distribution yield moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is ONEQ or QQQ better for dividend income?

It depends on your goals. ONEQ currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.

What is the difference between ONEQ and QQQ?

ONEQ (Fidelity Nasdaq Composite Index ETF) tracks Nasdaq Composite Index with a large cap approach, while QQQ (Invesco QQQ Trust) tracks Nasdaq-100 Index with a growth approach. They are issued by Fidelity Investments and Invesco respectively.

Can I hold both ONEQ and QQQ?

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 QQQ 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, QQQ scores 97, 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 QQQ?

ONEQ has an expense ratio of 0.21% while QQQ charges 0.18%. Lower fees mean more of your investment returns stay in your pocket over time.

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

At current rates, $10,000 in ONEQ would generate roughly $4.58 per month ($55.00 annually). The same in QQQ would produce about $3.75 per month ($45.00 annually).

Which has performed better historically, ONEQ or QQQ?

ONEQ has lagged QQQ over the trailing twelve months, posting a 22.63% total return against 24.68%. The lead holds up over 10 years too: QQQ has compounded at 20.68% a year, against 18.51% for ONEQ. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

ONEQ vs QQQ — at a glance

Generated August 15, 2026.

Overview

ONEQ and QQQ are both Nasdaq-tracking ETFs, but they cover dramatically different universes. ONEQ holds all stocks listed on the Nasdaq Composite Index—roughly 3,000+ securities across all market caps—while QQQ tracks only the 100 largest non-financial Nasdaq stocks via the Nasdaq-100 Index. This difference in scope makes them fundamentally different risk and return profiles despite both being tech-heavy growth vehicles.

How they differ

The core distinction is breadth: ONEQ captures the entire Nasdaq ecosystem including small and mid-cap names, while QQQ concentrates on just the 100 mega-cap tech and growth leaders. That concentration shows in beta—QQQ's 1.26 beta sits slightly below ONEQ's 1.3, but QQQ's $479B in AUM dwarfs ONEQ's $10.8B, reflecting investor appetite for mega-cap momentum. On yield, ONEQ offers a 0.54% distribution rate versus QQQ's 0.45%, a modest but real difference that could reflect ONEQ's exposure to smaller, sometimes more dividend-oriented names. Expense ratios are similar and low—ONEQ charges 0.21% and QQQ 0.18%—so fee friction is negligible. Both pay quarterly.

Who each is best for

ONEQ: Fits investors who want exposure to the entire Nasdaq ecosystem and are comfortable with mid and small-cap volatility alongside mega-cap tech holdings. Appeals to those seeking broader diversification within the tech-growth universe without sacrificing the low fees and simplicity of an index fund.

QQQ: Fits investors who explicitly want concentrated exposure to the 100 largest Nasdaq stocks—the mega-cap tech, consumer, and biotech names that have driven returns for two decades. Designed for growth-focused allocations where conviction centers on large-cap innovation and disruption.

Key risks to know

  • Concentration in mega-cap tech: QQQ's 100-stock limit creates heavier weights in Apple, Microsoft, Nvidia, and Tesla than ONEQ's full Nasdaq universe. A drawdown in the top 10 mega-cap names hits QQQ harder, while ONEQ has a broader portfolio to cushion the blow.
  • Small and mid-cap exposure gap: ONEQ's inclusion of thousands of smaller Nasdaq stocks introduces idiosyncratic risk absent from QQQ. Liquidity and earnings volatility in those holdings can drag on performance during market stress or sector rotation.
  • Beta and leverage exposure: Both ETFs' betas above 1.2 mean they amplify broad market moves, but QQQ's narrower roster and mega-cap focus may accelerate both gains and losses during tech rallies or sell-offs. ONEQ's diversification slightly cushions those swings.
  • Valuation sensitivity: Both track growth-heavy indexes vulnerable to rising interest rates and multiple compression. When rate expectations shift, high-growth Nasdaq stocks—especially QQQ's concentration—can see sharp drawdowns.

Bottom line

QQQ offers pure mega-cap Nasdaq exposure with massive liquidity and the lowest expense ratio, making it ideal for investors convinced the largest tech and growth names will drive returns. ONEQ provides a broader Nasdaq sweep at only slightly higher costs, trading some concentration risk for exposure to thousands of smaller listings. If you're building a core equity position and want simplicity and size, QQQ's scale and mega-cap focus stand out; if you want fuller participation in the Nasdaq ecosystem, ONEQ's wider net may appeal. Past performance doesn't 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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