FMAG vs. DARP

Last updated Aug 4, 2026

FMAG (Fidelity Magellan ETF) and DARP (Grizzle Growth ETF) are both Large Cap Growth Equities funds. Both are actively managed. Over the past year, FMAG returned 5.63% vs 53.03% for DARP. Their correlation of 0.83 means they have usually moved in the same direction. FMAG charges 0.57%/yr vs 0.75%/yr for DARP.

Performance

FMAG vs. DARP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Magellan ETF (FMAG) and Grizzle Growth ETF (DARP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FMAG achieves a 6.71% return, which is significantly lower than DARP's 24.09% return.

FMAG

• 1D: 1.22%
• 1M: 1.43%
• 6M: 6.21%
• YTD: 6.71%
• 1Y: 5.63%
• 3Y*: 18.63%
• 5Y*: 9.54%
• 10Y*: —
• ALL TIME*: 11.64%

DARP

• 1D: 2.48%
• 1M: -1.50%
• 6M: 11.54%
• YTD: 24.09%
• 1Y: 53.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 32.92%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DARP Grizzle Growth ETF	$367.14K	$288.77K	$436.18K
FMAG Fidelity Magellan ETF	$432.45K	$646.72K	$734.38K

FMAG vs. DARP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FMAG Fidelity Magellan ETF	6.71%	10.40%	28.52%	10.60%
DARP Grizzle Growth ETF	24.09%	40.19%	24.63%	6.25%

Correlation

The correlation between FMAG and DARP is 0.81, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.81
Correlation (All Time) Calculated using the full available price history since Aug 28, 2023	0.83

The correlation between FMAG and DARP has been stable across timeframes, ranging from 0.81 to 0.83 - a consistent structural relationship.

FMAG vs. DARP - Sectors Allocation Comparison

Sectors	FMAG	DARP
Technology	45.8%	48.3%
Industrials	15.2%	8.2%
Consumer Cyclical	11.9%	8.3%
Communication Services	10.4%	13.5%
Financial Services	7.2%	-
Basic Materials	3.7%	4.2%
Healthcare	3.1%	1.4%
Utilities	2.3%	5.2%
Consumer Defensive	1.6%	-
Real Estate	1.2%	-
Energy	-	9.2%

Return for Risk

FMAG vs. DARP — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FMAG

FMAG Risk / Return Rank: 19
FMAG Sharpe Ratio Rank: 19
FMAG Sortino Ratio Rank: 18
FMAG Omega Ratio Rank: 18
FMAG Calmar Ratio Rank: 18
FMAG Martin Ratio Rank: 21

DARP

DARP Risk / Return Rank: 80
DARP Sharpe Ratio Rank: 82
DARP Sortino Ratio Rank: 74
DARP Omega Ratio Rank: 72
DARP Calmar Ratio Rank: 85
DARP Martin Ratio Rank: 86

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FMAG vs. DARP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Magellan ETF (FMAG) and Grizzle Growth ETF (DARP). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	FMAG	DARP	Difference
Sharpe ratio: Return per unit of total volatility	0.35	1.99	-1.64
Sortino ratio: Return per unit of downside risk	0.60	2.47	-1.87
Omega ratio: Gain probability vs. loss probability	1.07	1.31	-0.24
Calmar ratio: Return relative to maximum drawdown	0.40	3.38	-2.98
Martin ratio: Return relative to average drawdown	1.35	12.79	-11.45

FMAG vs. DARP - Sharpe Ratio Comparison

The current FMAG Sharpe Ratio is 0.35, which is lower than the DARP Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of FMAG and DARP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FMAG vs. DARP - Drawdown Comparison

The maximum FMAG drawdown since its inception was -32.93%, which is greater than DARP's maximum drawdown of -30.27%. Use the drawdown chart below to compare losses from any high point for FMAG and DARP.

Drawdown Indicators

	FMAG	DARP	Difference
Max Drawdown Largest peak-to-trough decline	-32.93%	-30.27%	-2.66%
Max Drawdown (1Y) Largest decline over 1 year	-13.97%	-15.76%	+1.79%
Max Drawdown (3Y) Largest decline over 3 years	-20.12%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-32.93%	—	—
Current Drawdown Current decline from peak	-1.91%	-7.17%	+5.26%
Average Drawdown Average peak-to-trough decline	-8.81%	-4.72%	-4.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.19%	4.16%	+0.03%

Volatility

FMAG vs. DARP - Volatility Comparison

The current volatility for Fidelity Magellan ETF (FMAG) is 6.14%, while Grizzle Growth ETF (DARP) has a volatility of 9.89%. This indicates that FMAG experiences smaller price fluctuations and is considered to be less risky than DARP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FMAG	DARP	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.14%	9.89%	-3.75%
Volatility (6M) Calculated over the trailing 6-month period	13.83%	21.41%	-7.58%
Volatility (1Y) Calculated over the trailing 1-year period	16.36%	26.90%	-10.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.19%	26.84%	-6.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.79%	26.84%	-7.05%

FMAG vs. DARP - Expense Ratio Comparison

FMAG has a 0.57% expense ratio, which is lower than DARP's 0.75% expense ratio.

Dividends

FMAG vs. DARP - Dividend Comparison

FMAG's dividend yield for the trailing twelve months is around 0.08%, less than DARP's 0.35% yield.

Position	TTM	2025	2024	2023	2022	2021
DARP Grizzle Growth ETF	0.35%	0.43%	1.93%	0.32%	0.00%	0.00%
FMAG Fidelity Magellan ETF	0.08%	0.09%	0.15%	0.34%	0.23%	0.03%

Frequently Asked Questions

Can I hold both FMAG and DARP in my portfolio?

FMAG and DARP have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FMAG or DARP?

DARP has higher volatility (9.89%) compared to FMAG (6.14%). In terms of maximum drawdown, FMAG dropped -32.93% vs DARP's -30.27%.

Which ETF is better, FMAG or DARP?

On 1-year performance, DARP leads with 53.03% vs 5.63% for FMAG. On fees, FMAG is cheaper at 0.57% per year. On volatility, FMAG has been the lower-risk option at 6.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FMAG or DARP?

Over the 1-year period, DARP has performed better with a 53.03% return vs 5.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FMAG or DARP?

FMAG is cheaper with a 0.57% expense ratio, compared with 0.75% for DARP.

Which ETF pays a higher dividend yield, FMAG or DARP?

DARP has the higher dividend yield at 0.35%, compared with 0.08% for FMAG.

What is the main difference between FMAG and DARP?

They also come from different issuers: Fidelity and Grizzle. Their fees differ too: 0.57% for FMAG and 0.75% for DARP.

Which has better risk-adjusted returns?

DARP currently has the higher Sharpe Ratio (1.99 vs 0.35), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.