FMAGX vs. ^SP500TR

Last updated Apr 3, 2026

Compare and contrast key facts about Fidelity Magellan Fund (FMAGX) and S&P 500 Total Return (^SP500TR).

FMAGX is managed by Fidelity. It was launched on May 2, 1963.

Performance

FMAGX vs. ^SP500TR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Magellan Fund (FMAGX) and S&P 500 Total Return (^SP500TR). The values are adjusted to include any dividend payments, if applicable.

FMAGX vs. ^SP500TR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FMAGX Fidelity Magellan Fund	-6.76%	16.27%	28.06%	31.04%	-27.18%	27.08%	28.34%	31.26%	-5.70%	26.49%
^SP500TR S&P 500 Total Return	-3.53%	17.88%	25.02%	26.29%	-18.11%	28.71%	18.40%	31.49%	-4.38%	21.83%

Returns By Period

In the year-to-date period, FMAGX achieves a -6.76% return, which is significantly lower than ^SP500TR's -3.53% return. Both investments have delivered pretty close results over the past 10 years, with FMAGX having a 13.69% annualized return and ^SP500TR not far ahead at 14.22%.

FMAGX

• 1D: 0.87%
• 1M: -4.59%
• YTD: -6.76%
• 6M: -9.29%
• 1Y: 13.31%
• 3Y*: 18.80%
• 5Y*: 10.51%
• 10Y*: 13.69%

^SP500TR

• 1D: 0.12%
• 1M: -3.32%
• YTD: -3.53%
• 6M: -1.37%
• 1Y: 17.55%
• 3Y*: 18.50%
• 5Y*: 11.99%
• 10Y*: 14.22%

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

Return for Risk

FMAGX vs. ^SP500TR — Risk / Return Rank

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

FMAGX

FMAGX Risk / Return Rank: 25
FMAGX Sharpe Ratio Rank: 22
FMAGX Sortino Ratio Rank: 25
FMAGX Omega Ratio Rank: 24
FMAGX Calmar Ratio Rank: 28
FMAGX Martin Ratio Rank: 27

^SP500TR

^SP500TR Risk / Return Rank: 68
^SP500TR Sharpe Ratio Rank: 64
^SP500TR Sortino Ratio Rank: 68
^SP500TR Omega Ratio Rank: 71
^SP500TR Calmar Ratio Rank: 60
^SP500TR Martin Ratio Rank: 79

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.

FMAGX vs. ^SP500TR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Magellan Fund (FMAGX) and S&P 500 Total Return (^SP500TR). 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.

	FMAGX	^SP500TR	Difference
Sharpe ratio Return per unit of total volatility	0.69	0.96	-0.27
Sortino ratio Return per unit of downside risk	1.16	1.48	-0.31
Omega ratio Gain probability vs. loss probability	1.16	1.23	-0.06
Calmar ratio Return relative to maximum drawdown	1.08	1.51	-0.43
Martin ratio Return relative to average drawdown	3.80	7.14	-3.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FMAGX vs. ^SP500TR - Sharpe Ratio Comparison

The current FMAGX Sharpe Ratio is 0.69, which is comparable to the ^SP500TR Sharpe Ratio of 0.96. The chart below compares the historical Sharpe Ratios of FMAGX and ^SP500TR, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FMAGX	^SP500TR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.69	0.96	-0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	0.71	-0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.68	0.79	-0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.62	-0.07

Correlation

The correlation between FMAGX and ^SP500TR is 0.94, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Drawdowns

FMAGX vs. ^SP500TR - Drawdown Comparison

The maximum FMAGX drawdown since its inception was -71.14%, which is greater than ^SP500TR's maximum drawdown of -55.25%. Use the drawdown chart below to compare losses from any high point for FMAGX and ^SP500TR.

Drawdown Indicators

	FMAGX	^SP500TR	Difference
Max Drawdown Largest peak-to-trough decline	-71.14%	-55.25%	-15.89%
Max Drawdown (1Y) Largest decline over 1 year	-14.00%	-8.89%	-5.11%
Max Drawdown (5Y) Largest decline over 5 years	-33.13%	-24.49%	-8.64%
Max Drawdown (10Y) Largest decline over 10 years	-33.13%	-33.79%	+0.66%
Current Drawdown Current decline from peak	-10.40%	-5.44%	-4.96%
Average Drawdown Average peak-to-trough decline	-15.00%	-8.20%	-6.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.00%	2.57%	+1.43%

Volatility

FMAGX vs. ^SP500TR - Volatility Comparison

Fidelity Magellan Fund (FMAGX) has a higher volatility of 6.29% compared to S&P 500 Total Return (^SP500TR) at 5.30%. This indicates that FMAGX's price experiences larger fluctuations and is considered to be riskier than ^SP500TR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FMAGX	^SP500TR	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.29%	5.30%	+0.99%
Volatility (6M) Calculated over the trailing 6-month period	11.16%	9.55%	+1.61%
Volatility (1Y) Calculated over the trailing 1-year period	20.65%	18.32%	+2.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.05%	16.90%	+3.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.10%	18.04%	+2.06%