INNO vs. FMAG
Compare and contrast key facts about Harbor Disruptive Innovation ETF (INNO) and Fidelity Magellan ETF (FMAG).
INNO and FMAG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. INNO is an actively managed fund by Harbor. It was launched on Dec 1, 2021. FMAG is an actively managed fund by Fidelity. It was launched on Feb 2, 2021.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: INNO or FMAG.
Key characteristics
| INNO | FMAG | |
|---|---|---|
| YTD Return | 7.69% | 24.44% |
| 1Y Return | 22.41% | 36.77% |
| Sharpe Ratio | 1.08 | 2.26 |
| Daily Std Dev | 20.07% | 16.14% |
| Max Drawdown | -49.89% | -32.93% |
| Current Drawdown | -25.32% | -1.93% |
Correlation
The correlation between INNO and FMAG is 0.88, 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.
Performance
INNO vs. FMAG - Performance Comparison
In the year-to-date period, INNO achieves a 7.69% return, which is significantly lower than FMAG's 24.44% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
INNO vs. FMAG - Expense Ratio Comparison
INNO has a 0.75% expense ratio, which is higher than FMAG's 0.59% expense ratio.
Risk-Adjusted Performance
INNO vs. FMAG - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Harbor Disruptive Innovation ETF (INNO) 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.
Dividends
INNO vs. FMAG - Dividend Comparison
INNO has not paid dividends to shareholders, while FMAG's dividend yield for the trailing twelve months is around 0.16%.
| TTM | 2023 | 2022 | 2021 | |
|---|---|---|---|---|
INNO Harbor Disruptive Innovation ETF | 0.00% | 0.00% | 0.00% | 0.00% |
FMAG Fidelity Magellan ETF | 0.16% | 0.34% | 0.23% | 0.03% |
Drawdowns
INNO vs. FMAG - Drawdown Comparison
The maximum INNO drawdown since its inception was -49.89%, which is greater than FMAG's maximum drawdown of -32.93%. Use the drawdown chart below to compare losses from any high point for INNO and FMAG. For additional features, visit the drawdowns tool.
Volatility
INNO vs. FMAG - Volatility Comparison
Harbor Disruptive Innovation ETF (INNO) has a higher volatility of 6.44% compared to Fidelity Magellan ETF (FMAG) at 4.97%. This indicates that INNO's price experiences larger fluctuations and is considered to be riskier than FMAG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.