HQGO vs. FMAG

Last updated Apr 2, 2026

Compare and contrast key facts about Hartford US Quality Growth ETF (HQGO) and Fidelity Magellan ETF (FMAG).

HQGO and FMAG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HQGO is a passively managed fund by Hartford that tracks the performance of the Hartford US Quality Growth Index - Benchmark TR Gross. It was launched on Dec 5, 2023. FMAG is an actively managed fund by Fidelity. It was launched on Feb 2, 2021.

Performance

HQGO vs. FMAG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hartford US Quality Growth ETF (HQGO) and Fidelity Magellan ETF (FMAG). The values are adjusted to include any dividend payments, if applicable.

HQGO vs. FMAG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
HQGO Hartford US Quality Growth ETF	-4.85%	15.15%	25.09%	6.12%
FMAG Fidelity Magellan ETF	-6.53%	10.40%	28.52%	5.22%

Returns By Period

In the year-to-date period, HQGO achieves a -4.85% return, which is significantly higher than FMAG's -6.53% return.

HQGO

• 1D: 0.76%
• 1M: -3.93%
• YTD: -4.85%
• 6M: -3.46%
• 1Y: 16.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FMAG

• 1D: 0.89%
• 1M: -5.68%
• YTD: -6.53%
• 6M: -9.35%
• 1Y: 8.89%
• 3Y*: 17.03%
• 5Y*: 9.60%
• 10Y*: —

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

HQGO vs. FMAG - Expense Ratio Comparison

HQGO has a 0.34% expense ratio, which is lower than FMAG's 0.59% expense ratio.

FMAG

Fidelity Magellan ETF

HQGO

Hartford US Quality Growth ETF

Return for Risk

HQGO vs. FMAG — Risk / Return Rank

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

HQGO

HQGO Risk / Return Rank: 49
HQGO Sharpe Ratio Rank: 43
HQGO Sortino Ratio Rank: 48
HQGO Omega Ratio Rank: 48
HQGO Calmar Ratio Rank: 50
HQGO Martin Ratio Rank: 55

FMAG

FMAG Risk / Return Rank: 26
FMAG Sharpe Ratio Rank: 24
FMAG Sortino Ratio Rank: 26
FMAG Omega Ratio Rank: 25
FMAG Calmar Ratio Rank: 28
FMAG Martin Ratio Rank: 28

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.

HQGO vs. FMAG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hartford US Quality Growth ETF (HQGO) 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.

	HQGO	FMAG	Difference
Sharpe ratio Return per unit of total volatility	0.86	0.45	+0.41
Sortino ratio Return per unit of downside risk	1.37	0.79	+0.58
Omega ratio Gain probability vs. loss probability	1.19	1.11	+0.09
Calmar ratio Return relative to maximum drawdown	1.45	0.70	+0.75
Martin ratio Return relative to average drawdown	5.95	2.43	+3.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HQGO vs. FMAG - Sharpe Ratio Comparison

The current HQGO Sharpe Ratio is 0.86, which is higher than the FMAG Sharpe Ratio of 0.45. The chart below compares the historical Sharpe Ratios of HQGO and FMAG, 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

	HQGO	FMAG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.86	0.45	+0.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.49	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.02	0.48	+0.54

Correlation

The correlation between HQGO and FMAG is 0.92, 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.

Dividends

HQGO vs. FMAG - Dividend Comparison

HQGO's dividend yield for the trailing twelve months is around 0.53%, more than FMAG's 0.09% yield.

	TTM	2025	2024	2023	2022	2021
HQGO Hartford US Quality Growth ETF	0.53%	0.51%	0.52%	0.00%	0.00%	0.00%
FMAG Fidelity Magellan ETF	0.09%	0.09%	0.15%	0.34%	0.23%	0.03%

Drawdowns

HQGO vs. FMAG - Drawdown Comparison

The maximum HQGO drawdown since its inception was -20.85%, smaller than the maximum FMAG drawdown of -32.93%. Use the drawdown chart below to compare losses from any high point for HQGO and FMAG.

Drawdown Indicators

	HQGO	FMAG	Difference
Max Drawdown Largest peak-to-trough decline	-20.85%	-32.93%	+12.08%
Max Drawdown (1Y) Largest decline over 1 year	-12.12%	-13.97%	+1.85%
Max Drawdown (5Y) Largest decline over 5 years	—	-32.93%	—
Current Drawdown Current decline from peak	-6.95%	-10.34%	+3.39%
Average Drawdown Average peak-to-trough decline	-2.63%	-9.22%	+6.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.95%	4.03%	-1.08%

Volatility

HQGO vs. FMAG - Volatility Comparison

The current volatility for Hartford US Quality Growth ETF (HQGO) is 5.76%, while Fidelity Magellan ETF (FMAG) has a volatility of 6.37%. This indicates that HQGO 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

	HQGO	FMAG	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.76%	6.37%	-0.61%
Volatility (6M) Calculated over the trailing 6-month period	10.84%	11.08%	-0.24%
Volatility (1Y) Calculated over the trailing 1-year period	19.92%	19.97%	-0.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.30%	19.84%	-2.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.30%	19.82%	-2.52%