Fidelity Magellan ETF (FMAG) Performance
FMAG total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +0.8% since Dec 31, 2025
- 1 year
- −1.3% total return
- 5 years
- +7.5% a year
- Since first price
- +10.0% a year since 2021
FMAG trailing returns vs SPY, QQQ, AGG
| Period | FMAG total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −4.7% | −4.7% | −1.0% | −5.0% | +0.9% |
| 3 months | −3.0% | −3.1% | +3.2% | +1.9% | −0.4% |
| 6 months | −2.7% | −2.7% | +7.8% | +8.4% | −1.5% |
| YTD | +0.8% | +0.8% | +12.3% | +15.1% | −1.0% |
| 1 year | −1.3% | −1.3% | +14.4% | +15.9% | −1.1% |
| 3 years | +63.5%+17.8%/yr | +62.9% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +43.8%+7.5%/yr | +42.6% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionFeb 4, 2021 | +72.0%+10.0%/yr | +70.5% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: FMAG vs SPY
From Feb 4, 2021: FMAG grew to $17,198, SPY to $21,246.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
FMAG returns by calendar year
3 of 4 full years positive. Best 2023 (+31.3%), worst 2022 (−26.9%). 2026 is year to date.
FMAG annual returns table
| Year | FMAG | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +0.8% | −12.5% | +12.3% | +15.1% | −1.0% |
| 2025 | +10.4% | −20.1% | +17.7% | +20.8% | +7.2% |
| 2024 | +28.5% | −10.2% | +24.9% | +25.6% | +1.3% |
| 2023 | +31.3% | −8.6% | +26.2% | +54.9% | +5.7% |
| 2022 | −26.9% | −31.5% | −18.2% | −32.6% | −13.0% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
FMAG largest drawdowns
Now 7.5% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Nov 19, 2021 | −32.9% | Oct 14, 2022 | Jan 29, 2024 | 11 months | 2.2 years |
| Jan 23, 2025 | −20.1% | Apr 8, 2025 | Jun 4, 2025 | 2 months | 4 months |
| Oct 28, 2025 | −14.0% | Mar 30, 2026 | Apr 24, 2026 | 5 months | 6 months |
| Jul 10, 2024 | −10.2% | Aug 5, 2024 | Sep 19, 2024 | 26 days | 2 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
FMAG risk statistics
| Statistic | 3 years | 5 years | Since 2021 |
|---|---|---|---|
| Annualized return | +19.4% | +10.0% | +11.9% |
| Volatility (annualized) | 15.2% | 18.4% | 17.9% |
| Sharpe ratio | 0.97 | 0.42 | 0.54 |
| Sortino ratio | 1.99 | 0.65 | 0.85 |
| Best month | +12.7% | +12.7% | +12.7% |
| Worst month | −7.0% | −10.7% | −10.7% |
| Best 12 months | +45.3% | +45.3% | +45.3% |
| Worst 12 months | +2.5% | −26.9% | −26.9% |
| Positive months | 58% | 58% | 60% |
| Beta vs S&P 500 | 1.13 | 1.11 | — |
| Correlation with S&P 500 | 0.92 | 0.95 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
FMAG rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 57 | −26.9% | +12.0% | +45.3% | 77% |
| 3-year (a year) | 33 | +7.2% | +17.2% | +26.4% | 100% |
| 5-year (a year) | 9 | +7.1% | +10.0% | +11.8% | 100% |
Every holding period starting at a month-end since 2021. Returns for 3 years and longer are annualized.
FMAG performance overview
Fidelity Magellan ETF (FMAG) returned −1.3% over the past year and +7.5% a year over five years, with distributions reinvested. Since its first recorded price in 2021 it has returned +10.0% a year, turning $10,000 into about $17,198. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −32.9%, from Nov 19, 2021 to Oct 14, 2022, and it took 1.3 years to get back to the old high. FMAG finished 3 of its 4 full calendar years with a gain; the best year was 2023 (+31.3%) and the worst 2022 (−26.9%). Volatility has been 17.9% a year.
Related: FMAG chart, FMAG holdings, FMAG dividends, FMAG valuation. See the FMAG overview for the latest quote and fund facts.
FMAG performance FAQ
What is the FMAG return over the past year?
FMAG returned −1.3% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 1.3%.
What is the average annual return of FMAG?
FMAG has returned +7.5% a year over 5 years, +10.0% a year since February 4, 2021 (total return, distributions reinvested).
How much would $10,000 invested in FMAG be worth?
$10,000 invested in FMAG at its first recorded close on February 4, 2021 would be worth about $17,198 on October 23, 2026 with distributions reinvested.
What was the worst year for FMAG?
The worst calendar year was 2022, with a total return of −26.9%. The best was 2023 at +31.3%.
What is the biggest drawdown of FMAG?
The largest peak-to-trough decline was −32.9% between November 19, 2021 and October 14, 2022. It recovered to the old high on January 29, 2024, 1.3 years after the bottom.
How volatile is FMAG?
Over the past 3 years FMAG had an annualized volatility of 15.2% and a Sharpe ratio of 0.97 (excess return over 1–3 month T-bills per unit of risk).