ONEQ vs SCHK

ONEQBFidelity Nasdaq Composite Index ETF

SCHKASchwab 1000 Index ETF

In short

ONEQ Most "Nasdaq" funds mean the 100 biggest names. This one goes for the whole exchange: roughly a thousand Nasdaq-listed stocks, giants down through small caps, in a single wrapper Fidelity has run since 2003.

SCHK Schwab's house-built alternative to the S&P 500: the 1,000 largest US companies in one passive wrapper, reaching past the mega-caps into mid-cap turf, priced at three basis points.

Stated mandate

ONEQ The fund seeks to closely match the price and yield performance of the Nasdaq Composite Index. It uses statistical sampling and normally invests at least 80% of assets in securities included in that index.

SCHK The fund seeks to track the total return of the Schwab 1000 Index before fees and expenses.

Why people hold it

• ONEQ The Composite reaches far past the famous 100, covering essentially every Nasdaq-listed company, so you get the mid- and small-cap Nasdaq names that top-100 funds skip.nasdaq.com
• 0.21% a year is well under half the typical fee among the broad index funds we grade, and it buys roughly a thousand stocks.
• Fidelity samples the index instead of buying every line, and returns have hugged the Composite tightly: one of the closer tracking records in its peer group.
• Trading since 2003, now a multi-billion-dollar fund, with distributions paid quarterly.

• SCHK 0.03% a year, the lowest fee among the top-scoring funds in its index-wrapper group and a small fraction of what the typical fund there charges.
• About 1,000 stocks covering roughly 90% or more of US stock market value: the S&P 500 names plus a layer of mid caps most large-blend funds skip.schwabassetmanagement.com
• Tracks its stated index tightly and stands among the strongest implementations in its peer group of plain index wrappers.
• A multi-billion-dollar fund that trades actively and pays distributions quarterly.

Worth knowing

• ONEQ Breadth here is count, not balance. The Nasdaq's largest companies carry most of the weight, so it acts more like a mega-cap tech fund than a thousand-name list suggests.
• Nasdaq listings only, so NYSE-listed bank, energy and industrial giants are never eligible. A big slice of the US market, not the whole of it.nasdaq.com
• Cheap for its cohort, not the floor: broad index rivals like SCHK (0.03%) and VT (0.06%) charge a fraction of the fee for different exposures.

• SCHK Weighted by market value, so the biggest US companies drive the bulk of results. Those extra 500 names carry less weight than the headcount suggests.schwabassetmanagement.com
• All-US, all-equity by mandate: no bonds, no foreign stocks, and it rides the full swings of the US market.
• The benchmark is Schwab's own proprietary index, so there is no rival fund on the identical yardstick for a side-by-side comparison.

Full ONEQ profile⁠

Full SCHK profile⁠