Fidelity Nasdaq Composite Index Tracking Stock
ALTAR
Score™		 2.9% info Recommen-
dation		 AVOID
2020E    2021E
P/E
ratio		 41.6x P/Sales
ratio		 4.3x
P/BV
ratio		 5.9x Div.
yield		 0.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Fidelity NASDAQ Composite Index Tracking Stock ETF is an exchange traded fund incorporated in the USA. The Fund seeks to provide investment returns that closely correspond to the price and yield performance of the NASDAQ Composite Index.

FUND BASICS
Category US Equities
Fund Sponsor Fidelity Management & Research/USA
Website www.fidelity.com
Inception date Oct 01, 2003
Assets (mns) $3,286
Currency USD
Expense ratio 21 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian JPMorgan Chase Bank
Weighting Market Cap
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 1012
Wgt avg mkt cap (mns) $665,863
Large cap (>$10bn) 85.2%
Mid cap ($2-10bn) 10.1%
Small cap (<$2bn) 3.9%
Developed mkts 98.3%
Emerging mkts 1.7%

TOP TEN HOLDINGS
APPLE INC 11.1 %
MICROSOFT CORP 8.8 %
AMAZON.COM INC 8.6 %
FACEBOOK 3.6 %
ALPHABET INC. CLASS C 3.2 %
ALPHABET INC. CLASS A 2.9 %
TESLA MOTORS INC 2.5 %
NVIDIA CORP 1.8 %
COMCAST CORP-CL A 1.2 %
PAYPAL HOLDINGS INC 1.2 %
Total 44.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 93.2 %
CHINA 1.5 %
BRITAIN 0.8 %
NETHERLANDS 0.6 %
ISRAEL 0.4 %
ARGENTINA 0.4 %
IRELAND 0.4 %
BERMUDA 0.3 %
CANADA 0.3 %
SWITZERLAND 0.3 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
22.2% 32.6% 17.8% 17.0% 11.7%

Market Correlations
versus... Beta R-squared
S&P500 1.10 93%
MSCI EAFE 1.09 75%
MSCI Emg. Mkts. 0.79 60%

Technical Indicators
Recent close $467.40
30d moving avg. $451.15
Annualized volatility 20.4%
Short interest (ETF) 0.1%
Short interest (Underlying) 3.5%
Relative strength (RSI) 52

Liquidity measures
Avg. volume (thou.) 33
Turnover 0.5%
Bid/Ask (% of price) 0.34%
ADV underlying (mns) $150,780

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Fidelity Nasdaq Composite Index Tracking Stock ETF based on the alternatives' overlap in portfolio holdings with ONEQ. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: ONEQ Expense: 21 bp ALTAR Score™: 2.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH ONEQ
Ticker Fund
Name		 Overlap1
vs ONEQ
(%)		 Expense
ratio
(bp)		 Savings
vs ONEQ
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs ONEQ
(%)
QQQM Invesco NASDAQ 100 ETF 74.3 15 6 3.8 +0.9
QQQ Invesco QQQ Trust 74.3 20 1 3.7 +0.8
NUSI Nationwide Risk-Managed Income ETF 74.3 68 -47 3.5 +0.6
QYLD Global X NASDAQ 100 Covered Call ETF 74.3 60 -39 3.3 +0.5
QYLG Global X Nasdaq 100 Covered Call & Growth ETF 74.3 60 -39 3.3 +0.5
IWF iShares Russell 1000 Growth ETF 64.5 19 2 3.6 +0.7
VONG Vanguard Russell 1000 Growth Index Fund 63.5 8 13 3.7 +0.9
VUG Vanguard Growth Index Fund 61.9 4 17 3.7 +0.8
SCHG Schwab U.S. Large-Cap Growth ETF 61.8 4 17 3.4 +0.5
VOOG Vanguard S&P 500 Growth ETF 60.8 10 11 4.1 +1.2
ESGV Vanguard ESG U.S. Stock ETF 60.5 12 9 4.7 +1.8
SPYG SPDR Portfolio S&P 500 Growth ETF 59.5 4 17 4.2 +1.3
IVW iShares S&P 500 Growth ETF 59.5 18 3 4.0 +1.2
IUSG iShares Core S&P US Growth ETF 59.2 4 17 4.2 +1.3
IETC iShares Evolved U.S. Technology ETF 58.9 18 3 3.6 +0.8
IWY iShares Russell Top 200 Growth ETF 58.3 20 1 3.8 +0.9
MGK Vanguard Mega Cap Growth ETF 57.7 7 14 3.8 +1.0
TMFC Motley Fool 100 Index ETF 57.2 50 -29 3.2 +0.4
IGM iShares Expanded Tech Sector ETF 56.9 46 -25 3.6 +0.7
MMTM SPDR S&P 1500 Momentum Tilt ETF 55.3 12 9 4.2 +1.3
XOUT GraniteShares XOUT U.S. Large Cap ETF 55.0 60 -39 3.8 +0.9
IQSU IQ Candriam ESG US Equity ETF 50.1 9 12 4.7 +1.9
XLG Invesco S&P 500 Top 50 ETF 50.0 20 1 4.3 +1.4
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 49.8 49 -28 3.9 +1.0
OEF iShares S&P 100 ETF 48.4 20 1 4.5 +1.6
IYW iShares U.S. Technology ETF 47.2 43 -22 3.7 +0.8
SPXN ProShares S&P 500 Ex-Financials ETF 47.0 27 -6 4.6 +1.7
IWL iShares Russell Top 200 ETF 46.6 15 6 4.6 +1.7
EFIV SPDR S&P 500 ESG ETF 46.2 10 11 4.7 +1.9
SNPE Xtrackers S&P 500 ESG ETF 46.1 10 11 4.7 +1.8
BKLC BNY Mellon US Large Cap Core Equity ETF 46.0 0 21 4.8 +1.9
SPXV ProShares S&P 500 Ex-Health Care ETF 46.0 27 -6 4.6 +1.7
MGC Vanguard Mega Cap Index Fund 45.6 7 14 4.8 +1.9
SPMO Invesco S&P 500 Momentum ETF 45.1 13 8 4.0 +1.1
SYG SPDR MFS Systematic Growth Equity ETF 45.1 60 -39 4.0 +1.2
HIPR Direxion High Growth ETF 44.5 40 -19 4.4 +1.5
VTHR Vanguard Russell 3000 Index Fund 44.5 10 11 4.6 +1.7
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 44.2 7 14 4.8 +1.9
VEGN US Vegan Climate ETF 44.2 60 -39 4.7 +1.8
PBUS Invesco PureBeta MSCI USA ETF 43.7 4 17 4.8 +1.9
SCHB Schwab U.S. Broad Market ETF 43.3 3 18 4.7 +1.8
SCHX Schwab U.S. Large-Cap ETF 43.2 3 18 4.8 +1.9
PBP Invesco S&P 500 BuyWrite ETF 43.1 49 -28 4.7 +1.8
ITOT iShares Core S&P Total U.S. Stock Market ETF 43.1 3 18 4.7 +1.8
SPXE ProShares S&P 500 Ex-Energy ETF 43.1 27 -6 4.9 +2.0
BBUS JP Morgan Betabuilders U.S. Equity ETF 43.1 2 19 4.8 +2.0
CATH Global X S&P 500 Catholic Values Custom ETF 43.1 29 -8 4.7 +1.8
IYY iShares Dow Jones U.S. ETF 43.0 20 1 4.6 +1.8
IWV iShares Russell 3000 ETF 43.0 20 1 4.5 +1.7
HSPX Global X S&P 500 Covered Call ETF 43.0 60 -39 4.6 +1.7
IWB iShares Russell 1000 ETF 43.0 15 6 4.7 +1.8
SCHK Schwab 1000 Index ETF 42.9 5 16 4.8 +1.9
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 42.9 20 1 4.9 +2.1
XYLG Global X S&P 500 Covered Call & Growth ETF 42.9 60 -39 4.6 +1.7
ESGU iShares MSCI USA ESG Optimized ETF 42.9 15 6 4.7 +1.8
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 42.7 20 1 4.6 +1.7
SPY SPDR S&P 500 ETF Trust 42.3 9 12 4.9 +2.1
SPLG SPDR Portfolio Large Cap ETF 42.3 3 18 5.0 +2.1
IVV iShares Core S&P 500 ETF 42.3 3 18 5.0 +2.1
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 42.2 9 12 5.2 +2.4
VV Vanguard Large-Cap Index Fund 42.0 4 17 4.8 +1.9
SPTM SPDR Portfolio Total Stock Market ETF 41.9 3 18 5.1 +2.2
DSI iShares MSCI KLD 400 Social ETF 41.9 25 -4 4.7 +1.9
VOO VANGUARD S&P 500 ETF 41.6 3 18 5.0 +2.1
STLG iShares Factors US Growth Style ETF 41.6 25 -4 4.1 +1.3
VTI Vanguard Total Stock Market Index Fund 41.4 3 18 4.6 +1.8
USXF iShares ESG Advanced MSCI USA ETF 40.8 10 11 4.6 +1.7
FTEC Fidelity MSCI Information Technology Index ETF 40.6 8 13 4.2 +1.4
VGT Vanguard Information Technology Index Fund 40.6 10 11 4.2 +1.3
MTUM iShares MSCI USA Momentum Factor ETF 40.5 15 6 4.1 +1.2
ESG FlexShares STOXX US ESG Impact Index Fund 39.6 32 -11 4.7 +1.8
AVUS Avantis U.S. Equity ETF 39.2 15 6 5.1 +2.2
SFY SoFi Select 500 ETF 39.1 0 21 4.7 +1.9
VONE Vanguard Russell 1000 ETF 39.1 8 13 4.8 +1.9
RECS Columbia Research Enhanced Core ETF 37.8 15 6 5.2 +2.4
FDMO Fidelity Momentum Factor ETF 37.8 29 -8 3.2 +0.3
QQEW First Trust Nasdaq-100 Equal Weighted Index Fund 37.5 59 -38 4.0 +1.2
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 37.4 35 -14 4.3 +1.4
IOO iShares Global 100 ETF 37.4 40 -19 4.4 +1.6
JHML John Hancock Multifactor Large Cap ETF 36.6 29 -8 5.0 +2.2
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 36.5 15 6 5.8 +3.0
EXT WisdomTree U.S. Total Earnings Fund 36.0 28 -7 5.2 +2.3
SYE SPDR MFS Systematic Core Equity ETF 35.7 60 -39 5.3 +2.5
SUSL iShares ESG MSCI USA Leaders ETF 35.6 10 11 4.9 +2.0
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 35.6 10 11 4.9 +2.0
SPQQ Siren Large Cap Blend Index ETF 35.5 20 1 4.4 +1.6
TECB iShares US Tech Breakthrough Multisector ETF 35.3 40 -19 3.9 +1.0
XLK Technology Select Sector SPDR Fund 35.1 13 8 4.5 +1.6
IXN iShares Global Tech ETF 35.1 46 -25 4.2 +1.3
GBGR Global Beta Momentum-Growth ETF 35.0 29 -8 5.1 +2.2
EPS WisdomTree U.S. Earnings 500 Fund 34.8 8 13 5.9 +3.0
JKE iShares Morningstar Large-Cap Growth ETF 34.6 25 -4 2.8 -0.0
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 34.6 75 -54 4.0 +1.1
DYNF BlackRock U.S. Equity Factor Rotation ETF 34.1 30 -9 6.1 +3.2
SFYF SoFi 50 ETF 33.1 29 -8 1.0 -1.9
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 33.1 25 -4 5.6 +2.7
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 32.8 19 2 5.5 +2.6
AFLG First Trust Active Factor Large Cap ETF 32.7 55 -34 4.9 +2.0
QLC FlexShares US Quality Large Cap Index Fund 32.6 32 -11 4.8 +2.0
WOMN Impact Shares YWCA Women's Empowerment ETF 32.5 75 -54 3.8 +0.9

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2015 2016 2017 2018 2019 2020E 2021E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2019 2020E 2021E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:		 Fidelity Nasdaq Composite Index Tracking Stock
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 16.0 %
Divided by: Fwd. P/BV 5.2 x
Less: Expense ratio 21 bp
Equals: ALTAR Score 2.9 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.39 CATEGORY
AVERAGE		 1.50
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.