ONEQ ETF

If you want to gain a wide understanding of the Large Cap Growth part of the US stock market, consider the Fidelity Nasdaq Composite Index ETF (ONEQ). This is a passively managed exchange-traded fund that started on September 25, 2003.

There is a significant overvaluation of Nasdaq-listed assets compared to NYSE-listed assets. Nasdaq is known for listing small caps with strong growth potential, but these stocks are currently expensive. Many small caps remain unprofitable, making the risk/reward ratio unattractive. Finally, a historical analysis of PEG also indicates that the asset is overvalued.

Launched on 09/25/2003, the Fidelity Nasdaq Composite Index ETF (ONEQ) is a passively managed exchange traded fund designed to provide a broad exposure to the Large Cap Growth segment of the US equity market.

ONEQ is the sole ETF that follows the Nasdaq Composite Index, providing access to both domestic and international stocks listed on the Nasdaq Exchange. The fund's advisor utilizes a statistical sampling method to mirror the benchmark Index's performance, currently choosing around 1,000 stocks from a pool of approximately 3,000. While ONEQ holds a larger number of stocks, it may not offer better diversification compared to QQQ. Microsoft and Apple make up almost 25% of the fund, and its top ten holdings account for 57% of the total.

Created to offer extensive coverage of the US equity market's Large Cap Growth sector, the Fidelity Nasdaq Composite Index ETF (ONEQ) is an exchange traded fund that began on 09/25/2003 and is managed passively.

Based on past trends, the Nasdaq could see significant growth this year. Investing in Nasdaq stocks could allow you to capitalize on this momentum, even if you're not an expert in picking individual stocks.

Almost half of the ETF is made up of companies in the tech sector, specifically in areas such as semiconductors, GPUs, and generative AI end products, as represented by the Fidelity Nasdaq Composite Index ETF.

The Nasdaq Composite index has delivered a remarkable performance in the past year, with technology stocks leading the charge. A resilient consumer base and the likelihood of Fed rate cuts in 2024 should boost the index, going forward.

The Nasdaq Composite recently hit a record high making a new bull market official, due, in part, to strong gains from the "Magnificent Seven." The Fidelity Nasdaq Composite ETF measures the performance of the Nasdaq Composite, and the index fund returned 1,930% over the last three decades.