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Fidelity Nasdaq Composite Index (ONEQ)Overvalued or undervalued?
Look-through valuation · US market · Expense ratio 0.21 % · ISIN US3159128087
Price history (since 2003)
Monthly close since 2003. Price shows performance, the valuation verdict is in the look-through above.
Top holdings
| Holding | Weight | vs fair value | Quality |
|---|---|---|---|
| NVIDIA Corporation NVDA | 11.7 % | −5.9 % | 73 |
| Apple Inc. AAPL | 10.5 % | −0.3 % | 82 |
| Microsoft Corporation MSFT | 8.5 % | +10.0 % | 66 |
| Amazon.com Inc AMZN | 6.4 % | −43.4 % | 56 |
| Alphabet Inc Class A GOOGL | 4.5 % | n/a | n/a |
| Alphabet Inc Class C GOOG | 4.1 % | +5.9 % | 68 |
| Broadcom Inc AVGO | 3.4 % | −6.5 % | 71 |
| Meta Platforms Inc. META | 3.3 % | +10.0 % | 66 |
| Tesla Inc TSLA | 3.1 % | −89.2 % | 49 |
| Space Exploration Technologies Corp. Class A Common Stock SPCX | 2.6 % | n/a | n/a |
| Micron Technology Inc MU | 2.1 % | −29.4 % | 73 |
| Walmart Inc. WMT | 2.0 % | −58.2 % | 63 |
| Advanced Micro Devices Inc AMD | 1.9 % | −71.2 % | 75 |
| Intel Corporation INTC | 1.0 % | −39.7 % | 39 |
| Palantir Technologies Inc. PLTR | 0.9 % | −78.4 % | 76 |
| Cisco Systems Inc CSCO | 0.9 % | +10.8 % | 76 |
| Costco Wholesale Corp COST | 0.9 % | −56.4 % | 67 |
| Lam Research Corp LRCX | 0.7 % | +9.0 % | 86 |
| Applied Materials Inc AMAT | 0.7 % | −2.2 % | 76 |
| Netflix Inc NFLX | 0.6 % | +12.0 % | 87 |
| Palo Alto Networks Inc PANW | 0.6 % | −89.6 % | 45 |
| Texas Instruments Incorporated TXN | 0.5 % | −71.4 % | 67 |
| Crowdstrike Holdings Inc CRWD | 0.5 % | −85.3 % | 50 |
| Linde plc Ordinary Shares LIN | 0.5 % | −12.6 % | 69 |
| Amgen Inc AMGN | 0.5 % | +12.0 % | 64 |
Fair value and quality per position come from the same valuation as our stock pages. Showing the 25 largest of 989 disclosed positions. "n/a" means the position is not (yet) in our stock universe and does not enter the average.
The 10 most cheaply valued ETFs
Measured against the look-through fair value of the holdings (sufficiently covered funds only). Green means below fair value, red above. Not financial advice.
- 1 KWEB KraneShares CSI China Internet ETF 49.7 % below FV
- 2 CHIQ Global X MSCI China Consumer Disc ETF 49.3 % below FV
- 3 CHIU Global X MSCI China Utilities ETF 45.9 % below FV
- 4 MCHI iShares MSCI China ETF 36.3 % below FV
- 5 FLCH Franklin FTSE China ETF 35.9 % below FV
- 6 FDNI First Trust Dow Jones International Internet ETF 28.4 % below FV
- 7 FCFY First Trust S&P 500 Diversified Free Cash Flow ETF 26.1 % below FV
- 8 ITB iShares U.S. Home Construction ETF 23.0 % below FV
- 9 FDEM Fidelity® Emerging Markets Multifactor ETF 17.0 % below FV
- 10 XLC Communication Services Select Sector SPDR® Fund 16.2 % below FV
Frequently asked about ONEQ
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How we value this ETF
An ETF has no fair value of its own like a single stock. We build it bottom up: every holding has a fair value and a quality score on our pages. Weighted by portfolio share, that gives Fidelity® Nasdaq Composite Index® ETF an average of how cheap or expensive its companies currently sit versus fair value, and how high their average quality is.
As of: Oct 26, 2026
The look-through is a computed summary of public fundamentals and is no substitute for your own research.