GGUS vs. FMAG

Last updated Jun 3, 2026

GGUS (Goldman Sachs MarketBeta Russell 1000 Growth Equity ETF) and FMAG (Fidelity Magellan ETF) are both exchange-traded funds - GGUS is a Large Cap Growth Equities fund tracking the Russell 1000 Growth 40 Act Daily Capped Index - Benchmark TR Gross, while FMAG is a Global Equities fund actively managed by Fidelity. GGUS is passively managed, while FMAG is actively managed. Over the past year, GGUS returned 26.34% vs 13.37% for FMAG. Their correlation of 0.93 suggests significant overlap in exposure. GGUS charges 0.12%/yr vs 0.59%/yr for FMAG.

Performance

GGUS vs. FMAG - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with GGUS having a 8.72% return and FMAG slightly higher at 8.79%.

GGUS

• 1D: -0.22%
• 1M: 7.12%
• YTD: 8.72%
• 6M: 8.38%
• 1Y: 26.34%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FMAG

• 1D: 0.19%
• 1M: 4.20%
• YTD: 8.79%
• 6M: 8.19%
• 1Y: 13.37%
• 3Y*: 21.16%
• 5Y*: 12.31%
• 10Y*: —

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

GGUS vs. FMAG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
GGUS Goldman Sachs MarketBeta Russell 1000 Growth Equity ETF	8.72%	17.32%	30.88%	4.54%
FMAG Fidelity Magellan ETF	8.79%	10.40%	28.52%	4.44%

Correlation

The correlation between GGUS and FMAG 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 Dec 1, 2023	0.93

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

GGUS vs. FMAG - Sectors Allocation Comparison

Sectors	GGUS	FMAG
Technology	46.6%	38.9%
Consumer Cyclical	13.8%	12.6%
Communication Services	11.2%	6.1%
Healthcare	9.0%	4.4%
Industrials	7.2%	16.1%
Financial Services	6.9%	14.3%
Consumer Defensive	3.4%	1.9%
Real Estate	0.5%	1.4%
Energy	0.5%	-
Basic Materials	0.4%	4.3%
Utilities	0.3%	2.3%

Return for Risk

GGUS vs. FMAG — Risk / Return Rank

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

GGUS

GGUS Risk / Return Rank: 45
GGUS Sharpe Ratio Rank: 51
GGUS Sortino Ratio Rank: 49
GGUS Omega Ratio Rank: 49
GGUS Calmar Ratio Rank: 36
GGUS Martin Ratio Rank: 39

FMAG

FMAG Risk / Return Rank: 25
FMAG Sharpe Ratio Rank: 27
FMAG Sortino Ratio Rank: 26
FMAG Omega Ratio Rank: 25
FMAG Calmar Ratio Rank: 22
FMAG Martin Ratio Rank: 25

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.

GGUS vs. FMAG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs MarketBeta Russell 1000 Growth Equity ETF (GGUS) and Fidelity Magellan ETF (FMAG). 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.

	GGUS	FMAG	Difference
Sharpe ratio Return per unit of total volatility	1.77	0.94	+0.82
Sortino ratio Return per unit of downside risk	2.42	1.40	+1.01
Omega ratio Gain probability vs. loss probability	1.31	1.17	+0.14
Calmar ratio Return relative to maximum drawdown	1.80	1.00	+0.80
Martin ratio Return relative to average drawdown	6.21	3.55	+2.66
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GGUS vs. FMAG - Sharpe Ratio Comparison

The current GGUS Sharpe Ratio is 1.77, which is higher than the FMAG Sharpe Ratio of 0.94. The chart below compares the historical Sharpe Ratios of GGUS and FMAG, 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

	GGUS	FMAG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.77	0.94	+0.82
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.62	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.33	0.63	+0.70

Drawdowns

GGUS vs. FMAG - Drawdown Comparison

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

Drawdown Indicators

	GGUS	FMAG	Difference
Max Drawdown Largest peak-to-trough decline	-22.59%	-32.93%	+10.34%
Max Drawdown (1Y) Largest decline over 1 year	-14.91%	-13.97%	-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	-0.22%	0.00%	-0.22%
Average Drawdown Average peak-to-trough decline	-3.20%	-8.99%	+5.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.33%	3.95%	+0.38%

Volatility

GGUS vs. FMAG - Volatility Comparison

The current volatility for Goldman Sachs MarketBeta Russell 1000 Growth Equity ETF (GGUS) is 3.15%, while Fidelity Magellan ETF (FMAG) has a volatility of 3.58%. This indicates that GGUS experiences smaller price fluctuations and is considered to be less risky than FMAG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GGUS	FMAG	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.15%	3.58%	-0.43%
Volatility (6M) Calculated over the trailing 6-month period	11.25%	11.33%	-0.08%
Volatility (1Y) Calculated over the trailing 1-year period	14.96%	14.22%	+0.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.96%	19.85%	-0.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.96%	19.69%	-0.73%

GGUS vs. FMAG - Expense Ratio Comparison

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

Dividends

GGUS vs. FMAG - Dividend Comparison

GGUS's dividend yield for the trailing twelve months is around 0.40%, more than FMAG's 0.08% 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	0.40%	0.43%	0.68%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GGUS and FMAG in my portfolio?

GGUS and FMAG 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, GGUS or FMAG?

FMAG has higher volatility (3.58%) compared to GGUS (3.15%). In terms of maximum drawdown, GGUS dropped -22.59% vs FMAG's -32.93%.

Which ETF is better, GGUS or FMAG?

On 1-year performance, GGUS leads with 26.34% vs 13.37% for FMAG. On fees, GGUS is cheaper at 0.12% per year. On volatility, GGUS has been the lower-risk option at 3.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GGUS or FMAG?

Over the 1-year period, GGUS has performed better with a 26.34% return vs 13.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GGUS or FMAG?

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

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

GGUS has the higher dividend yield at 0.40%, compared with 0.08% for FMAG.

What is the main difference between GGUS and FMAG?

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

Which has better risk-adjusted returns?

GGUS currently has the higher Sharpe Ratio (1.77 vs 0.94), 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.