FMAGX vs. BRK-B

Last updated Jun 3, 2026

FMAGX (Fidelity Magellan Fund) is Large Cap Growth Equities fund managed by Fidelity, while BRK-B (Berkshire Hathaway Inc.) is a stock. Over the past 10 years, FMAGX returned 15.22%/yr vs 12.82%/yr for BRK-B. At a 0.46 correlation, their price movements are largely independent.

Performance

FMAGX vs. BRK-B - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Magellan Fund (FMAGX) and Berkshire Hathaway Inc. (BRK-B). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FMAGX achieves a 8.31% return, which is significantly higher than BRK-B's -6.20% return. Over the past 10 years, FMAGX has outperformed BRK-B with an annualized return of 15.22%, while BRK-B has yielded a comparatively lower 12.82% annualized return.

FMAGX

• 1D: 0.89%
• 1M: 3.93%
• YTD: 8.31%
• 6M: 7.85%
• 1Y: 13.19%
• 3Y*: 22.93%
• 5Y*: 13.04%
• 10Y*: 15.22%

BRK-B

• 1D: 0.26%
• 1M: -0.32%
• YTD: -6.20%
• 6M: -6.94%
• 1Y: -6.23%
• 3Y*: 12.69%
• 5Y*: 10.06%
• 10Y*: 12.82%

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

FMAGX vs. BRK-B - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FMAGX Fidelity Magellan Fund	8.31%	16.27%	28.06%	31.04%	-27.18%	27.08%	28.34%	31.26%	-5.70%	26.49%
BRK-B Berkshire Hathaway Inc.	-6.20%	10.89%	27.09%	15.46%	3.31%	28.95%	2.37%	10.93%	3.01%	21.62%

Correlation

The correlation between FMAGX and BRK-B is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.05
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (5Y) Calculated over the trailing 5-year period	0.42
Correlation (10Y) Calculated over the trailing 10-year period	0.49
Correlation (All Time) Calculated using the full available price history since May 10, 1996	0.46

Over the past year, the correlation between FMAGX and BRK-B has dropped to 0.05 - well below their long-term average of 0.46, suggesting their price drivers have been diverging.

Return for Risk

FMAGX vs. BRK-B — Risk / Return Rank

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

FMAGX

FMAGX Risk / Return Rank: 11
FMAGX Sharpe Ratio Rank: 12
FMAGX Sortino Ratio Rank: 12
FMAGX Omega Ratio Rank: 12
FMAGX Calmar Ratio Rank: 10
FMAGX Martin Ratio Rank: 11

BRK-B

BRK-B Risk / Return Rank: 17
BRK-B Sharpe Ratio Rank: 21
BRK-B Sortino Ratio Rank: 19
BRK-B Omega Ratio Rank: 19
BRK-B Calmar Ratio Rank: 15
BRK-B Martin Ratio Rank: 8

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. BRK-B - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Magellan Fund (FMAGX) and Berkshire Hathaway Inc. (BRK-B). 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	BRK-B	Difference
Sharpe ratio Return per unit of total volatility	0.97	-0.44	+1.40
Sortino ratio Return per unit of downside risk	1.42	-0.51	+1.92
Omega ratio Gain probability vs. loss probability	1.18	0.94	+0.24
Calmar ratio Return relative to maximum drawdown	1.01	-0.68	+1.70
Martin ratio Return relative to average drawdown	3.62	-1.36	+4.98
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. BRK-B - Sharpe Ratio Comparison

The current FMAGX Sharpe Ratio is 0.97, which is higher than the BRK-B Sharpe Ratio of -0.44. The chart below compares the historical Sharpe Ratios of FMAGX and BRK-B, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FMAGX	BRK-B	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.97	-0.44	+1.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	0.59	+0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.76	0.66	+0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	0.48	+0.09

Drawdowns

FMAGX vs. BRK-B - Drawdown Comparison

The maximum FMAGX drawdown since its inception was -71.14%, which is greater than BRK-B's maximum drawdown of -53.86%. Use the drawdown chart below to compare losses from any high point for FMAGX and BRK-B.

Drawdown Indicators

	FMAGX	BRK-B	Difference
Max Drawdown Largest peak-to-trough decline	-71.14%	-53.86%	-17.28%
Max Drawdown (1Y) Largest decline over 1 year	-14.00%	-9.42%	-4.58%
Max Drawdown (3Y) Largest decline over 3 years	-20.10%	-14.95%	-5.15%
Max Drawdown (5Y) Largest decline over 5 years	-33.13%	-26.58%	-6.55%
Max Drawdown (10Y) Largest decline over 10 years	-33.13%	-29.57%	-3.56%
Current Drawdown Current decline from peak	0.00%	-12.65%	+12.65%
Average Drawdown Average peak-to-trough decline	-14.96%	-11.07%	-3.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.92%	4.73%	-0.81%

Volatility

FMAGX vs. BRK-B - Volatility Comparison

Fidelity Magellan Fund (FMAGX) has a higher volatility of 4.00% compared to Berkshire Hathaway Inc. (BRK-B) at 3.79%. This indicates that FMAGX's price experiences larger fluctuations and is considered to be riskier than BRK-B based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FMAGX	BRK-B	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.00%	3.79%	+0.21%
Volatility (6M) Calculated over the trailing 6-month period	11.39%	10.68%	+0.71%
Volatility (1Y) Calculated over the trailing 1-year period	14.34%	14.31%	+0.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.06%	17.11%	+2.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.15%	19.43%	+0.72%

Dividends

FMAGX vs. BRK-B - Dividend Comparison

FMAGX's dividend yield for the trailing twelve months is around 6.36%, while BRK-B has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BRK-B Berkshire Hathaway Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FMAGX Fidelity Magellan Fund	6.36%	13.90%	6.12%	11.72%	5.02%	7.01%	0.30%	14.93%	10.83%	9.64%	2.92%	7.60%

Frequently Asked Questions

Can I hold both FMAGX and BRK-B in my portfolio?

FMAGX and BRK-B have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FMAGX or BRK-B?

FMAGX has higher volatility (4.00%) compared to BRK-B (3.79%). In terms of maximum drawdown, FMAGX dropped -71.14% vs BRK-B's -53.86%.

Which has better risk-adjusted returns?

FMAGX currently has the higher Sharpe Ratio (0.97 vs -0.44), 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.