Designed to provide broad exposure to the Large Cap Growth segment of the US equity market, the Fidelity Nasdaq Composite Index ETF (ONEQ) is a passively managed exchange traded fund launched on 09/25/2003.The fund is sponsored by Fidelity. It has amassed assets over $4.33 billion, making it one of the larger ETFs attempting to match the Large Cap Growth segment of the US equity market.Why Large Cap GrowthLarge cap companies typically have a market capitalization above $10 billion. They tend to be stable companies with predictable cash flows and are usually less volatile than mid and small cap companies.Qualities of growth stocks include faster growth rates compared to the broader market, as well as higher valuations and higher than average sales and earnings growth rates. Something to keep in mind is the higher level of volatility that is affiliated with growth stocks. When you consider growth versus value, growth stocks are usually the clear winner in strong bull markets but tend to fall flat in nearly all other environments.CostsCost is an important factor in selecting the right ETF, and cheaper funds can significantly outperform their more expensive counterparts if all other fundamentals are the same.Annual operating expenses for this ETF are 0.21%, putting it on par with most peer products in the space.It has a 12-month trailing dividend yield of 0.61%.Sector Exposure and Top HoldingsEven though ETFs offer diversified exposure that minimizes single stock risk, investors should also look at the actual holdings inside the fund. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis.This ETF has heaviest allocation to the Information Technology sector--about 45.30% of the portfolio. Consumer Discretionary and Telecom round out the top three.Looking at individual holdings, Microsoft Corp (MSFT) accounts for about 9.73% of total assets, followed by Apple Inc (AAPL) and Amazon.com Inc (AMZN).The top 10 holdings account for about 49.99% of total assets under management.Performance and RiskONEQ seeks to match the performance of the NASDAQ Composite Index before fees and expenses. The NASDAQ Composite TR USD is the market capitalization-weighted index of over 3,300 common equities listed on the Nasdaq stock exchange.The ETF has lost about -12.37% so far this year and is up about 3.27% in the last one year (as of 01/25/2022). In the past 52-week period, it has traded between $48.97 and $62.46.The ETF has a beta of 1.07 and standard deviation of 24.31% for the trailing three-year period, making it a medium risk choice in the space. With about 1021 holdings, it effectively diversifies company-specific risk.AlternativesFidelity Nasdaq Composite Index ETF holds a Zacks ETF Rank of 2 (Buy), which is based on expected asset class return, expense ratio, and momentum, among other factors. Because of this, ONEQ is a great option for investors seeking exposure to the Style Box - Large Cap Growth segment of the market. There are other additional ETFs in the space that investors could consider as well.The Vanguard Growth ETF (VUG) and the Invesco QQQ (QQQ) track a similar index. While Vanguard Growth ETF has $79.40 billion in assets, Invesco QQQ has $187.87 billion. VUG has an expense ratio of 0.04% and QQQ charges 0.20%.Bottom-LinePassively managed ETFs are becoming increasingly popular with institutional as well as retail investors due to their low cost, transparency, flexibility and tax efficiency. They are excellent vehicles for long term investors.To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center. Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How to Profit from Trillions on Spending for Infrastructure >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Fidelity Nasdaq Composite Index ETF (ONEQ): ETF Research Reports Amazon.com, Inc. (AMZN): Free Stock Analysis Report Apple Inc. (AAPL): Free Stock Analysis Report Microsoft Corporation (MSFT): Free Stock Analysis Report Invesco QQQ (QQQ): ETF Research Reports Vanguard Growth ETF (VUG): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research