FMKFX vs. FOKFX

Last updated Aug 1, 2026

FMKFX (Fidelity Magellan K6 Fund) and FOKFX (Fidelity OTC K6 Portfolio) are both Large Cap Growth Equities funds from Fidelity. Over the past 5 years, FMKFX returned 9.90%/yr vs 14.43%/yr for FOKFX. Their correlation of 0.93 means they have usually moved in the same direction. FMKFX charges 0.45%/yr vs 0.50%/yr for FOKFX.

Performance

FMKFX vs. FOKFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Magellan K6 Fund (FMKFX) and Fidelity OTC K6 Portfolio (FOKFX). 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 lower than FOKFX's 17.71% 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%

FOKFX

• 1D: 2.72%
• 1M: -3.54%
• 6M: 15.23%
• YTD: 17.71%
• 1Y: 33.55%
• 3Y*: 26.35%
• 5Y*: 14.43%
• 10Y*: —
• ALL TIME*: 21.57%

*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)
FMKFX Fidelity Magellan K6 Fund	$0.00	$0.00	$0.00
FOKFX Fidelity OTC K6 Portfolio	$0.00	$0.00	$0.00

FMKFX vs. FOKFX - 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%
FOKFX Fidelity OTC K6 Portfolio	17.71%	20.30%	34.58%	43.48%	-32.32%	25.95%	47.52%	17.08%

Correlation

The correlation between FMKFX and FOKFX is 0.90, 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.	0.90
Correlation (3Y) Balances recent behavior with more history.	0.91
Correlation (5Y) Shows whether the relationship held over a longer period.	0.92
Correlation (All Time) Calculated using the full available price history since Jun 13, 2019	0.93

The correlation between FMKFX and FOKFX has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.

Return for Risk

FMKFX vs. FOKFX — 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

FOKFX

FOKFX Risk / Return Rank: 66
FOKFX Sharpe Ratio Rank: 63
FOKFX Sortino Ratio Rank: 58
FOKFX Omega Ratio Rank: 57
FOKFX Calmar Ratio Rank: 79
FOKFX Martin Ratio Rank: 72

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. FOKFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Magellan K6 Fund (FMKFX) and Fidelity OTC K6 Portfolio (FOKFX). 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	FOKFX	Difference
Sharpe ratio: Return per unit of total volatility	0.06	1.48	-1.42
Sortino ratio: Return per unit of downside risk	0.20	2.03	-1.83
Omega ratio: Gain probability vs. loss probability	1.02	1.26	-0.23
Calmar ratio: Return relative to maximum drawdown	0.07	2.53	-2.45
Martin ratio: Return relative to average drawdown	0.25	8.60	-8.36

FMKFX vs. FOKFX - Sharpe Ratio Comparison

The current FMKFX Sharpe Ratio is 0.06, which is lower than the FOKFX Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of FMKFX and FOKFX, 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. FOKFX - Drawdown Comparison

The maximum FMKFX drawdown since its inception was -32.73%, smaller than the maximum FOKFX drawdown of -37.26%. Use the drawdown chart below to compare losses from any high point for FMKFX and FOKFX.

Drawdown Indicators

	FMKFX	FOKFX	Difference
Max Drawdown Largest peak-to-trough decline	-32.73%	-37.26%	+4.53%
Max Drawdown (1Y) Largest decline over 1 year	-13.86%	-12.53%	-1.33%
Max Drawdown (3Y) Largest decline over 3 years	-20.05%	-24.81%	+4.76%
Max Drawdown (5Y) Largest decline over 5 years	-32.73%	-37.26%	+4.53%
Current Drawdown Current decline from peak	-5.07%	-8.04%	+2.97%
Average Drawdown Average peak-to-trough decline	-7.62%	-9.09%	+1.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.08%	3.67%	+0.41%

Volatility

FMKFX vs. FOKFX - Volatility Comparison

Fidelity Magellan K6 Fund (FMKFX) and Fidelity OTC K6 Portfolio (FOKFX) have volatilities of 5.98% and 6.26%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FMKFX	FOKFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.98%	6.26%	-0.28%
Volatility (6M) Calculated over the trailing 6-month period	13.84%	17.69%	-3.85%
Volatility (1Y) Calculated over the trailing 1-year period	16.54%	21.42%	-4.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.42%	23.47%	-3.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.34%	24.72%	-2.38%

FMKFX vs. FOKFX - Expense Ratio Comparison

FMKFX has a 0.45% expense ratio, which is lower than FOKFX's 0.50% expense ratio.

Dividends

FMKFX vs. FOKFX - Dividend Comparison

FMKFX's dividend yield for the trailing twelve months is around 6.39%, more than FOKFX's 3.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
FMKFX Fidelity Magellan K6 Fund	6.39%	7.74%	9.56%	2.33%	0.31%	4.10%	0.33%	0.28%
FOKFX Fidelity OTC K6 Portfolio	3.57%	4.20%	4.58%	0.24%	0.08%	3.81%	0.39%	0.32%

Frequently Asked Questions

Can I hold both FMKFX and FOKFX in my portfolio?

With a correlation of 0.90, FMKFX and FOKFX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FMKFX or FOKFX?

FOKFX has higher volatility (6.26%) compared to FMKFX (5.98%). In terms of maximum drawdown, FMKFX dropped -32.73% vs FOKFX's -37.26%.

Which has better risk-adjusted returns?

FOKFX currently has the higher Sharpe Ratio (1.48 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.