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See exactly how FMAG's revenue becomes profit — a Sankey that traces revenue (and its reported segments) through gross profit, operating expenses, and net profit, with the year-over-year change on every line.
The same diagram the Chart Builder draws, right on the Summary tab. Upgrade to unlock it for FMAG and 80,000+ other tickers.
The fund selectively targets top-tier businesses, encompassing both those that experience robust growth aligned with economic cycles and those exhibiting consistent, stable expansion, aiming to leverage profound, long-lasting societal and economic shifts.
The legendary Magellan portfolio manager was an explorer himself.
For many investors, the Fidelity Magellan Fund (FMAGX) has been around for their entire adult lives. Launched back in 1963, the fund became a lodestar for the mutual fund world.
Fidelity Magellan ETF is an actively managed large-cap fund aiming to outperform the S&P 500 through fundamental analysis and tactical trading. FMAG has consistently underperformed its benchmark (SPY), offering higher volatility, limited differentiation, and a significantly higher expense ratio of 0.6%. The portfolio closely mirrors SPY with minor sector and international tilts, but these have not translated into superior returns or risk-adjusted performance.
Fidelity Magellan ETF is an actively managed ETF with a unique sector tilt, overweighting industrials and financials while still holding major tech names. FMAG trades at a premium valuation, justified by strong historical and estimated earnings growth, but profitability is only in line with the S&P 500. The fund outperforms the S&P 500 but lags most growth ETF peers, with lower volatility and more muted upside during market rallies.
FMAG has rebounded recently, outperforming after a period of underperformance, prompting me to upgrade my rating to hold. The fund's active management made timely bets in the past few months, but overall risk-adjusted returns and high fees remain concerns versus passive S&P 500 ETFs over longer timeframes. While FMAG's recent moves are impressive, I recommend watching for sustained outperformance before considering it over established, lower-fee index funds.