Fidelity Magellan Fund Class K (FMGKX)

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The chart shows the growth of an initial investment of $10,000 in Fidelity Magellan Fund Class K, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.

Fidelity Magellan Fund Class K (FMGKX) has returned -10.50% so far this year and 10.63% over the past 12 months. Looking at the last ten years, FMGKX has achieved an annualized return of 13.63%, outperforming the S&P 500 Index benchmark, which averaged 12.16% per year.

Based on dividend-adjusted daily data since May 9, 2008, FMGKX's average daily return is +0.05%, while the average monthly return is +0.89%. At this rate, your investment would double in approximately 6.5 years.

Historically, 63% of months were positive and 37% were negative. The best month was May 2025 with a return of +14.4%, while the worst month was Oct 2008 at -21.6%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 6 months.

On a daily basis, FMGKX closed higher 54% of trading days. The best single day was Oct 13, 2008 with a return of +12.2%, while the worst single day was Mar 16, 2020 at -12.5%.

Fidelity Magellan Fund Class K has an annualized alpha of 0.15%, beta of 1.08, and R² of 0.93 versus S&P 500 Index. Calculated based on daily prices since May 12, 2008.

• This fund captured 111.58% of S&P 500 Index gains and 108.48% of its losses — amplifying both gains and losses, but participating more in upside than downside.
• With beta of 1.08 and R² of 0.93, this fund moves broadly in line with S&P 500 Index — much of its variation is explained by market exposure rather than independent behavior.

FMGKX has an expense ratio of 0.62%, placing it in the medium range.

FMGKX ranks 19 for risk / return — in the bottom 19% of mutual funds on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.

The table below present risk-adjusted performance metrics for Fidelity Magellan Fund Class K (FMGKX) and compare them to a chosen benchmark (S&P 500 Index).

Fidelity Magellan Fund Class K provided a 15.53% dividend yield over the last twelve months, with an annual payout of $2.08 per share.

The table displays the monthly dividend distributions for Fidelity Magellan Fund Class K. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

The table below displays the maximum drawdowns of the Fidelity Magellan Fund Class K. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the Fidelity Magellan Fund Class K was 59.38%, occurring on Nov 20, 2008. Recovery took 1166 trading sessions.

The current Fidelity Magellan Fund Class K drawdown is 13.95%.

The chart below shows the rolling one-month volatility.