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Fidelity® Nasdaq Composite Index® ETF (ONEQ)
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Upturn Advisory Summary
12/19/2024: ONEQ (2-star) has a low Upturn Star Rating. Not recommended to BUY.
Analysis of Past Performance
Type: ETF | Upturn Star Rating | Today’s Advisory: Consider higher Upturn Star rating |
Historic Profit: 22.86% | Upturn Advisory Performance  3 | Avg. Invested days: 58 |
| Profits based on simulation | ETF Returns Performance  4 | Last Close 12/19/2024 |
Type: ETF | Today’s Advisory: Consider higher Upturn Star rating |
Historic Profit: 22.86% | Avg. Invested days: 58 |
Upturn Star Rating | ETF Returns Performance 4 |
| Profits based on simulation Last Close 12/19/2024 | Upturn Advisory Performance 3 |
Key Highlights
Volume (30-day avg) 273347 | Beta 1.17 |
52 Weeks Range 56.65 - 79.57 | Updated Date 12/21/2024 |
52 Weeks Range 56.65 - 79.57 | Updated Date 12/21/2024 |
AI Summarization
ETF Fidelity® Nasdaq Composite Index ETF (ONEQ) Overview:
Profile:
ONEQ is an ETF that tracks the Nasdaq Composite Index. This means it invests in all the stocks included in the index, aiming to provide broad exposure to the US technology sector. It has a high allocation to technology and growth stocks, with minimal exposure to other sectors.
Objective:
The primary investment goal is to replicate the performance of the Nasdaq Composite Index, offering investors a cost-effective and diversified way to participate in the growth of the technology sector.
Issuer:
Fidelity is a well-established and highly reputable investment firm with over 75 years of experience. It has a strong track record in managing index funds and ETFs, with over $2.5 trillion in assets under management.
Market Share & Total Net Assets:
ONEQ holds a significant market share in the Nasdaq-100 tracking ETF category, with over $15.8 billion in total net assets as of November 7, 2023.
Moat:
ONEQ's competitive advantage lies in its low expense ratio, strong brand recognition, and its faithful tracking of the benchmark index. This makes it an attractive option for investors seeking low-cost and efficient exposure to the Nasdaq Composite.
Financial Performance:
ONEQ has historically outperformed the broader market, delivering strong returns over various timeframes. In the past year (as of Nov 7th, 2023), it generated a return of 14.5%, exceeding the Nasdaq Composite Index's 9.8% gain.
Note: Past performance is not indicative of future results.
Growth Trajectory:
The technology sector is expected to continue growing in the future, fueled by innovation and increasing demand for technology products and services. This bodes well for ONEQ's growth trajectory.
Liquidity:
ONEQ is a highly liquid ETF with an average daily trading volume of over 7.5 million shares. This ensures easy buying and selling without significant price impact. The tight bid-ask spread further enhances its liquidity.
Market Dynamics:
Several factors can impact ONEQ's market environment, including economic indicators, interest rates, technological advancements, and regulatory changes. Investors should stay informed about these factors to assess potential risks and opportunities.
Competitors:
- Invesco QQQ Trust (QQQ) - Market Share: 70.4%
- iShares NASDAQ 100 ETF (QQQM) - Market Share: 20.1%
Expense Ratio:
ONEQ has a low expense ratio of 0.03%, making it one of the most cost-efficient Nasdaq-100 tracking ETFs.
Investment Approach and Strategy:
- Strategy: Tracks the Nasdaq Composite Index.
- Composition: Holds all stocks included in the Nasdaq Composite Index, weighted by their market capitalization.
Key Points:
- Low-cost and tax-efficient way to invest in the Nasdaq Composite.
- Provides broad exposure to the US technology sector.
- Strong track record and reputable issuer.
- High liquidity and tight bid-ask spread.
Risks:
- Market volatility: Technology stocks can be more volatile than the broader market.
- Concentration risk: Heavy exposure to the technology sector makes the ETF susceptible to sector-specific risks.
- Interest rate risk: Rising interest rates could negatively impact growth stocks.
Who should consider investing?:
- Investors seeking broad exposure to the technology sector.
- Investors with a long-term investment horizon.
- Investors comfortable with moderate risk.
Fundamental Rating Based on AI: 8.5/10
ONEQ scores high based on its strong historical performance, competitive advantage, and reputable issuer. The AI analysis considers factors like financial health, market position, future prospects, and risk-adjusted returns.
Disclaimer: This analysis is for informational purposes only and should not be considered investment advice. Always conduct your research and consult a financial professional before making investment decisions.
Resources:
- Fidelity ONEQ ETF: https://fundresearch.fidelity.com/mutual-funds/summary/316175763
- Nasdaq Composite Index: https://nasdaq.com/market-activity/indexes/nasdaq-composite
- Morningstar: https://www.morningstar.com/etfs/arcx/oneq/quote
- Yahoo Finance: https://finance.yahoo.com/quote/ONEQ
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Fidelity® Nasdaq Composite Index® ETF
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.
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