 The
Fidelity Nasdaq Composite Index Tracking Stock (ONEQ) is an
exchange-traded fund (ETF) that tracks the performance of the Nasdaq
Composite Index, a broad-based market-capitalization-weighted index
that includes all domestic and international companies listed on the
Nasdaq Stock Market. Here's an extended company report for ONEQ:
ONEQ was launched by Fidelity Investments in September 2003 and is
designed to provide investors with exposure to a broad range of
Nasdaq-listed companies, including large-cap, mid-cap, and small-cap
stocks. As of March 18, 2023, ONEQ held 2,161 stocks in its portfolio,
with a total net asset value of approximately $27.9 billion.
ONEQ's portfolio is diversified across multiple sectors, with the
largest holdings in the technology, consumer discretionary, and
healthcare sectors. The fund's top holdings include Apple Inc.,
Microsoft Corporation, and Amazon.com Inc.
ONEQ is an index
fund, which means that it seeks to replicate the performance of the
Nasdaq Composite Index by holding a representative sample of the
index's constituents. The fund invests in stocks that are listed on
the Nasdaq Stock Market, which is known for its concentration of
technology and growth-oriented companies.
ONEQ has an expense
ratio of 0.21%, which is relatively low compared to other actively
managed ETFs. The fund is managed by Fidelity Investments, one of the
largest asset managers in the world with a reputation for offering
low-cost investment options.
Investing in ONEQ offers several
potential benefits to investors. The fund provides exposure to a broad
range of Nasdaq-listed companies, including some of the world's
largest and most innovative companies. The index methodology used by
ONEQ seeks to provide a comprehensive representation of the Nasdaq
Composite Index by holding a representative sample of its
constituents. Additionally, the low expense ratio of the fund may
result in higher net returns for investors.
However, investing
in ONEQ also carries risks. The fund's performance may be affected by
changes in the stock market or specific industry sectors, as well as
economic and political developments. The concentration of technology
and growth-oriented companies listed on the Nasdaq Stock Market may
also result in increased volatility or underperformance compared to
other investment strategies.
In conclusion, the Fidelity Nasdaq
Composite Index Tracking Stock (ONEQ) is an ETF that seeks to
replicate the performance of the Nasdaq Composite Index, a broad-based
market-capitalization-weighted index that includes all domestic and
international companies listed on the Nasdaq Stock Market. The fund
provides exposure to a broad range of Nasdaq-listed companies, has a
relatively low expense ratio, and is managed by Fidelity Investments,
a well-respected asset manager. However, investing in ONEQ carries
risks that investors should consider before investing.
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