FMAG vs. GGUS

Last updated Jun 26, 2026

FMAG (Fidelity Magellan ETF) and GGUS (Goldman Sachs MarketBeta Russell 1000 Growth Equity ETF) are both exchange-traded funds - FMAG is a Global Equities fund actively managed by Fidelity, while GGUS is a Large Cap Growth Equities fund tracking the Russell 1000 Growth 40 Act Daily Capped Index - Benchmark TR Gross. FMAG is actively managed, while GGUS is passively managed. Over the past year, FMAG returned 6.98% vs 14.62% for GGUS. Their correlation of 0.92 suggests significant overlap in exposure. FMAG charges 0.59%/yr vs 0.12%/yr for GGUS.

Performance

FMAG vs. GGUS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Magellan ETF (FMAG) and Goldman Sachs MarketBeta Russell 1000 Growth Equity ETF (GGUS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FMAG achieves a 4.69% return, which is significantly higher than GGUS's 1.96% return.

FMAG

• 1D: 0.06%
• 1M: -2.24%
• YTD: 4.69%
• 6M: 3.18%
• 1Y: 6.98%
• 3Y*: 19.25%
• 5Y*: 10.30%
• 10Y*: —

GGUS

• 1D: -1.05%
• 1M: -4.31%
• YTD: 1.96%
• 6M: 0.38%
• 1Y: 14.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FMAG vs. GGUS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FMAG Fidelity Magellan ETF	4.69%	10.40%	28.52%	4.44%
GGUS Goldman Sachs MarketBeta Russell 1000 Growth Equity ETF	1.96%	17.32%	30.88%	4.54%

Correlation

The correlation between FMAG and GGUS is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (All Time) Calculated using the full available price history since Nov 30, 2023	0.92

The correlation between FMAG and GGUS has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.

FMAG vs. GGUS - Sectors Allocation Comparison

Sectors	FMAG	GGUS
Technology	42.7%	48.7%
Industrials	15.7%	6.5%
Consumer Cyclical	12.9%	12.7%
Financial Services	12.2%	6.5%
Communication Services	5.6%	9.7%
Healthcare	4.0%	9.5%
Basic Materials	4.0%	0.4%
Utilities	2.3%	1.3%
Consumer Defensive	1.7%	3.4%
Real Estate	1.3%	0.6%
Energy	-	0.5%

Return for Risk

FMAG vs. GGUS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FMAG

FMAG Risk / Return Rank: 16
FMAG Sharpe Ratio Rank: 16
FMAG Sortino Ratio Rank: 15
FMAG Omega Ratio Rank: 15
FMAG Calmar Ratio Rank: 15
FMAG Martin Ratio Rank: 18

GGUS

GGUS Risk / Return Rank: 26
GGUS Sharpe Ratio Rank: 28
GGUS Sortino Ratio Rank: 26
GGUS Omega Ratio Rank: 26
GGUS Calmar Ratio Rank: 23
GGUS Martin Ratio Rank: 26

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FMAG vs. GGUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Magellan ETF (FMAG) and Goldman Sachs MarketBeta Russell 1000 Growth Equity ETF (GGUS). 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	GGUS	Difference
Sharpe ratio: Return per unit of total volatility	0.46	0.94	-0.48
Sortino ratio: Return per unit of downside risk	0.74	1.36	-0.62
Omega ratio: Gain probability vs. loss probability	1.09	1.17	-0.08
Calmar ratio: Return relative to maximum drawdown	0.50	0.98	-0.48
Martin ratio: Return relative to average drawdown	1.74	3.29	-1.55

FMAG vs. GGUS - Sharpe Ratio Comparison

The current FMAG Sharpe Ratio is 0.46, which is lower than the GGUS Sharpe Ratio of 0.94. The chart below compares the historical Sharpe Ratios of FMAG and GGUS, 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. GGUS - Drawdown Comparison

The maximum FMAG drawdown since its inception was -32.93%, which is greater than GGUS's maximum drawdown of -22.59%. Use the drawdown chart below to compare losses from any high point for FMAG and GGUS.

Drawdown Indicators

	FMAG	GGUS	Difference
Max Drawdown Largest peak-to-trough decline	-32.93%	-22.59%	-10.34%
Max Drawdown (1Y) Largest decline over 1 year	-13.97%	-14.91%	+0.94%
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	-3.77%	-6.43%	+2.66%
Average Drawdown Average peak-to-trough decline	-8.91%	-3.22%	-5.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.02%	4.45%	-0.43%

Volatility

FMAG vs. GGUS - Volatility Comparison

Fidelity Magellan ETF (FMAG) has a higher volatility of 6.66% compared to Goldman Sachs MarketBeta Russell 1000 Growth Equity ETF (GGUS) at 5.76%. This indicates that FMAG's price experiences larger fluctuations and is considered to be riskier than GGUS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FMAG	GGUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.66%	5.76%	+0.90%
Volatility (6M) Calculated over the trailing 6-month period	12.71%	12.16%	+0.55%
Volatility (1Y) Calculated over the trailing 1-year period	15.32%	15.63%	-0.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.02%	19.04%	+0.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.76%	19.04%	+0.72%

FMAG vs. GGUS - Expense Ratio Comparison

FMAG has a 0.59% expense ratio, which is higher than GGUS's 0.12% expense ratio.

Dividends

FMAG vs. GGUS - Dividend Comparison

FMAG's dividend yield for the trailing twelve months is around 0.08%, less than GGUS's 0.43% yield.

Position	TTM	2025	2024	2023	2022	2021
FMAG Fidelity Magellan ETF	0.08%	0.09%	0.15%	0.34%	0.23%	0.03%
GGUS Goldman Sachs MarketBeta Russell 1000 Growth Equity ETF	0.43%	0.43%	0.68%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FMAG and GGUS in my portfolio?

FMAG and GGUS have a correlation of 0.90, 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 GGUS?

FMAG has higher volatility (6.66%) compared to GGUS (5.76%). In terms of maximum drawdown, FMAG dropped -32.93% vs GGUS's -22.59%.

Which ETF is better, FMAG or GGUS?

On 1-year performance, GGUS leads with 14.62% vs 6.98% for FMAG. On fees, GGUS is cheaper at 0.12% per year. On volatility, GGUS has been the lower-risk option at 5.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FMAG or GGUS?

Over the 1-year period, GGUS has performed better with a 14.62% return vs 6.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FMAG or GGUS?

GGUS is cheaper with a 0.12% expense ratio, compared with 0.59% for FMAG.

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

GGUS has the higher dividend yield at 0.43%, compared with 0.08% for FMAG.

What is the main difference between FMAG and GGUS?

FMAG is categorized as Global Equities, while GGUS is Large Cap Growth Equities. They also come from different issuers: Fidelity and Goldman Sachs. Their fees differ too: 0.59% for FMAG and 0.12% for GGUS.

Which has better risk-adjusted returns?

GGUS currently has the higher Sharpe Ratio (0.94 vs 0.46), 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.