ONEQ - Everyone Is Talking About the Fidelity Nasdaq Composite Index ETF. Is It a Good Long-Term Option?
2024-05-11 03:48:00 ET
The Nasdaq Composite has climbed in the past year and a half, roaring out of a bear market and into bull territory as investors piled into the types of stocks the index is best known for: technology players. This has been -- and is still -- the case for two reasons.
First, investors are eager to get in early on the high-growth opportunity of artificial intelligence (AI). Many tech companies today are either developing and selling AI tools and platforms or using AI to improve their own businesses. This already is starting to pay off, and it could send earnings soaring over time. Second, investors are looking ahead to a better economic environment down the road, and to prepare, they're betting on growth stocks.
All of this has driven the Nasdaq higher -- and that has translated into double-digit percentage gains for the Fidelity Nasdaq Composite Index ETF (NASDAQ: ONEQ) , an exchange-traded fund that tracks that benchmark. So, everyone is talking about this top-notch ETF as it has recently been an easy tool for generating fantastic returns. But is it a good long-term option?
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Everyone Is Talking About the Fidelity Nasdaq Composite Index ETF. Is It a Good Long-Term Option?