FMKFX vs. BPTRX

Last updated Aug 1, 2026

FMKFX (Fidelity Magellan K6 Fund) and BPTRX (Baron Partners Fund) are both Large Cap Growth Equities funds. Over the past 5 years, FMKFX returned 9.90%/yr vs 10.37%/yr for BPTRX. Their 0.68 correlation means they have sometimes moved together and sometimes differently. FMKFX charges 0.45%/yr vs 1.36%/yr for BPTRX.

Performance

FMKFX vs. BPTRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Magellan K6 Fund (FMKFX) and Baron Partners Fund (BPTRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FMKFX achieves a 3.27% return, which is significantly higher than BPTRX's -3.59% return.

FMKFX

• 1D: 3.03%
• 1M: -2.06%
• 6M: 2.71%
• YTD: 3.27%
• 1Y: 2.58%
• 3Y*: 18.18%
• 5Y*: 9.90%
• 10Y*: —
• ALL TIME*: 14.85%

BPTRX

• 1D: -2.14%
• 1M: -12.60%
• 6M: -0.09%
• YTD: -3.59%
• 1Y: 28.55%
• 3Y*: 16.04%
• 5Y*: 10.37%
• 10Y*: 22.97%
• ALL TIME*: 15.49%

*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)
BPTRX Baron Partners Fund	$0.00	$0.00	$0.00
FMKFX Fidelity Magellan K6 Fund	$0.00	$0.00	$0.00

FMKFX vs. BPTRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FMKFX Fidelity Magellan K6 Fund	3.27%	10.90%	33.14%	31.33%	-26.85%	27.53%	29.14%	11.22%
BPTRX Baron Partners Fund	-3.59%	24.54%	32.75%	43.09%	-42.53%	31.35%	148.81%	17.19%

Correlation

The correlation between FMKFX and BPTRX is 0.46, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.46
Correlation (3Y) Balances recent behavior with more history.	0.55
Correlation (5Y) Shows whether the relationship held over a longer period.	0.65
Correlation (All Time) Calculated using the full available price history since Jun 13, 2019	0.68

Over the past year, the correlation between FMKFX and BPTRX has dropped to 0.46 - well below their long-term average of 0.68, suggesting their price drivers have been diverging.

Return for Risk

FMKFX vs. BPTRX — Risk / Return Rank

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

FMKFX

FMKFX Risk / Return Rank: 5
FMKFX Sharpe Ratio Rank: 5
FMKFX Sortino Ratio Rank: 5
FMKFX Omega Ratio Rank: 5
FMKFX Calmar Ratio Rank: 5
FMKFX Martin Ratio Rank: 5

BPTRX

BPTRX Risk / Return Rank: 34
BPTRX Sharpe Ratio Rank: 25
BPTRX Sortino Ratio Rank: 46
BPTRX Omega Ratio Rank: 40
BPTRX Calmar Ratio Rank: 31
BPTRX Martin Ratio Rank: 30

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.

FMKFX vs. BPTRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Magellan K6 Fund (FMKFX) and Baron Partners Fund (BPTRX). 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.

	FMKFX	BPTRX	Difference
Sharpe ratio: Return per unit of total volatility	0.06	0.84	-0.78
Sortino ratio: Return per unit of downside risk	0.20	1.80	-1.60
Omega ratio: Gain probability vs. loss probability	1.02	1.21	-0.19
Calmar ratio: Return relative to maximum drawdown	0.07	1.31	-1.23
Martin ratio: Return relative to average drawdown	0.25	4.23	-3.98

FMKFX vs. BPTRX - Sharpe Ratio Comparison

The current FMKFX Sharpe Ratio is 0.06, which is lower than the BPTRX Sharpe Ratio of 0.84. The chart below compares the historical Sharpe Ratios of FMKFX and BPTRX, 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

FMKFX vs. BPTRX - Drawdown Comparison

The maximum FMKFX drawdown since its inception was -32.73%, smaller than the maximum BPTRX drawdown of -64.11%. Use the drawdown chart below to compare losses from any high point for FMKFX and BPTRX.

Drawdown Indicators

	FMKFX	BPTRX	Difference
Max Drawdown Largest peak-to-trough decline	-32.73%	-64.11%	+31.38%
Max Drawdown (1Y) Largest decline over 1 year	-13.86%	-19.60%	+5.74%
Max Drawdown (3Y) Largest decline over 3 years	-20.05%	-33.34%	+13.29%
Max Drawdown (5Y) Largest decline over 5 years	-32.73%	-49.87%	+17.14%
Max Drawdown (10Y) Largest decline over 10 years	—	-51.26%	—
Current Drawdown Current decline from peak	-5.07%	-18.16%	+13.09%
Average Drawdown Average peak-to-trough decline	-7.62%	-13.76%	+6.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.08%	6.04%	-1.96%

Volatility

FMKFX vs. BPTRX - Volatility Comparison

The current volatility for Fidelity Magellan K6 Fund (FMKFX) is 5.98%, while Baron Partners Fund (BPTRX) has a volatility of 7.29%. This indicates that FMKFX experiences smaller price fluctuations and is considered to be less risky than BPTRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FMKFX	BPTRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.98%	7.29%	-1.31%
Volatility (6M) Calculated over the trailing 6-month period	13.84%	19.10%	-5.26%
Volatility (1Y) Calculated over the trailing 1-year period	16.54%	30.34%	-13.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.42%	34.24%	-13.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.34%	32.93%	-10.59%

FMKFX vs. BPTRX - Expense Ratio Comparison

FMKFX has a 0.45% expense ratio, which is lower than BPTRX's 1.36% expense ratio.

Dividends

FMKFX vs. BPTRX - Dividend Comparison

FMKFX's dividend yield for the trailing twelve months is around 6.39%, more than BPTRX's 3.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BPTRX Baron Partners Fund	3.49%	3.36%	0.76%	0.00%	3.19%	7.72%	3.67%	0.26%	0.00%	0.00%	0.00%	0.35%
FMKFX Fidelity Magellan K6 Fund	6.39%	7.74%	9.56%	2.33%	0.31%	4.10%	0.33%	0.28%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FMKFX and BPTRX in my portfolio?

FMKFX and BPTRX have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FMKFX or BPTRX?

BPTRX has higher volatility (7.29%) compared to FMKFX (5.98%). In terms of maximum drawdown, FMKFX dropped -32.73% vs BPTRX's -64.11%.

Which has better risk-adjusted returns?

BPTRX currently has the higher Sharpe Ratio (0.84 vs 0.06), 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.