Data as of Oct 28, 2026.
ONEQ vs SPY: Differences, Returns & Fees
Over the year to Oct 28, 2026, ONEQ returned +12.7% to SPY's +13.6%; 56% of their weight is in the same names.
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Net assets: $10.9bn on Sep 30, 2026 for Fidelity Nasdaq Composite Index ETF, and $814.8bn on Oct 27, 2026 for SPDR S&P 500 ETF Trust.
Pair scorecard
SPY costs 0.12 points a year less; their one-year returns differ by 0.9 points; SPY is far larger, $809.2bn against $10.9bn.
| Measure | ONEQ | SPY |
|---|---|---|
| Return | ||
| Total return, 1 year | +12.7% | +13.6% |
| Drawdown | ||
| Below its high | 3.8%, high on Oct 6, 2026 | |
| Benchmark | ||
| What it tracks | Nasdaq Composite Index | S&P 500 Index |
| Cost and size | ||
| Expense ratio | 0.21% | 0.09% |
| Net assets, as of Sep 30, 2026 | $10.9bn | $809.2bn |
| Holdings | ||
| Holdings in common | 56% | |
| Top ten holdings, share of the fund | 56.0% | 38.1% |
Holdings in common uses holdings dated Aug 31, 2026 and Oct 27, 2026. Method
Risk and return
Oct 10, 2003 to Oct 23, 2026 · 1,202 weekly returnsONEQ returned more: +1,558.1% to +1,006.4%. SPY swung less: 17.1% to 19.5%. ONEQ fell slightly less at its worst: −53.5% to −54.6%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | ONEQ | SPY | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +1,558.1% | +1,006.4% | ONEQ | Price change plus distributions, reinvested. |
| Annualized | +12.9% | +11.0% | ONEQ | Total return as a yearly rate. |
| Price return | +1,232.7% | +626.8% | ONEQ | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 19.5% | 17.1% | SPY | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 13.5% | 12.1% | SPY | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −53.5% | −54.6% | ONEQ (slight) | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.63 | 0.59 | ONEQ (slight) | Return above Treasury bills per unit of volatility. |
| Sortino | 0.91 | 0.83 | ONEQ (slight) | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.24 | 0.20 | ONEQ | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 1,202 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, ONEQ and SPY hold 56% of their money in the same securities at the same weight. Holdings dated Aug 31, 2026 and Oct 27, 2026.
half
56% in common
Only in one fund ↓
Side by side
ONEQ and SPY on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
ONEQ and SPY do different jobs. What does each one do in a portfolio?
- What each follows. ONEQ follows Nasdaq Composite Index and SPY follows S&P 500 Index.
- Cost. ONEQ charges 0.21% of assets a year and SPY 0.09%, a gap of 0.12 points.
- Size. ONEQ has $10.9bn in net assets and SPY $809.2bn (net assets, as of Sep 30, 2026); SPY is 74.2 times larger.
Data as of Oct 28, 2026.
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ONEQ
ONEQ tracks the Nasdaq Composite. Over the year to Oct 28, 2026 it returned +12.7% with distributions reinvested. The prospectus expense ratio is 0.21% a year. By its holdings filed for Aug 31, 2026, 85% of the fund by weight is stocks the S&P 500 also holds, across 1,026 positions, with the top ten at 56.0%. It sat 3.8% below its high of Oct 6, 2026 on Oct 28, 2026.
SPY
SPY tracks the S&P 500. Over the year to Oct 28, 2026 it returned +13.6% with distributions reinvested, against +13.7% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.09% a year. By its holdings published by its issuer for Oct 27, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 504 positions, with the top ten at 38.1%.
Questions people ask
- Which returned more over the last year, ONEQ or SPY?
- In the year to Oct 28, 2026, with distributions reinvested, ONEQ returned +12.7% and SPY +13.6%.
- Which is cheaper, ONEQ or SPY?
- SPY is cheaper, by 0.12 percentage points a year. That is about $12 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, ONEQ against SPY, data as of Oct 28, 2026. https://etfiq.com/compare/any/oneq-vs-spy
ETFIQ. (Oct 28, 2026). ONEQ against SPY. Retrieved from https://etfiq.com/compare/any/oneq-vs-spy
[ONEQ against SPY (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/oneq-vs-spy)
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