XNAV vs. FMAG

Last updated Jun 24, 2026

XNAV (FundX Aggressive ETF) and FMAG (Fidelity Magellan ETF) are both exchange-traded funds - XNAV is a Large Cap Growth Equities fund actively managed by FundX, while FMAG is a Global Equities fund actively managed by Fidelity. Both are actively managed. Over the past 3 years, XNAV returned 22.49%/yr vs 19.25%/yr for FMAG. Their correlation of 0.88 suggests significant overlap in exposure. XNAV charges 1.30%/yr vs 0.59%/yr for FMAG.

Performance

XNAV vs. FMAG - Performance Comparison

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

Returns By Period

In the year-to-date period, XNAV achieves a 17.83% return, which is significantly higher than FMAG's 4.89% return.

XNAV

• 1D: -4.01%
• 1M: -1.59%
• YTD: 17.83%
• 6M: 16.41%
• 1Y: 37.02%
• 3Y*: 22.49%
• 5Y*: —
• 10Y*: —

FMAG

• 1D: -2.07%
• 1M: -0.83%
• YTD: 4.89%
• 6M: 3.65%
• 1Y: 8.71%
• 3Y*: 19.25%
• 5Y*: 10.43%
• 10Y*: —

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

XNAV vs. FMAG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
XNAV FundX Aggressive ETF	17.83%	13.61%	25.44%	16.11%	8.67%
FMAG Fidelity Magellan ETF	4.89%	10.40%	28.52%	31.25%	7.43%

Correlation

The correlation between XNAV and FMAG is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (All Time) Calculated using the full available price history since Oct 17, 2022	0.88

The correlation between XNAV and FMAG has been stable across timeframes, ranging from 0.82 to 0.89 - a consistent structural relationship.

XNAV vs. FMAG - Sectors Allocation Comparison

Sectors	XNAV	FMAG
Technology	41.5%	42.7%
Industrials	10.6%	15.7%
Energy	10.5%	-
Financial Services	7.8%	12.2%
Consumer Cyclical	6.7%	12.9%
Basic Materials	6.2%	4.0%
Communication Services	5.7%	5.6%
Healthcare	3.8%	4.0%
Consumer Defensive	3.3%	1.7%
Utilities	3.3%	2.3%
Real Estate	0.7%	1.3%

Return for Risk

XNAV vs. FMAG — Risk / Return Rank

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

XNAV

XNAV Risk / Return Rank: 68
XNAV Sharpe Ratio Rank: 68
XNAV Sortino Ratio Rank: 60
XNAV Omega Ratio Rank: 65
XNAV Calmar Ratio Rank: 70
XNAV Martin Ratio Rank: 74

FMAG

FMAG Risk / Return Rank: 17
FMAG Sharpe Ratio Rank: 18
FMAG Sortino Ratio Rank: 17
FMAG Omega Ratio Rank: 17
FMAG Calmar Ratio Rank: 16
FMAG Martin Ratio Rank: 20

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.

XNAV vs. FMAG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FundX Aggressive ETF (XNAV) 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.

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.

	XNAV	FMAG	Difference
Sharpe ratio: Return per unit of total volatility	2.00	0.57	+1.44
Sortino ratio: Return per unit of downside risk	2.58	0.88	+1.69
Omega ratio: Gain probability vs. loss probability	1.36	1.11	+0.25
Calmar ratio: Return relative to maximum drawdown	3.24	0.63	+2.62
Martin ratio: Return relative to average drawdown	12.83	2.18	+10.65

XNAV vs. FMAG - Sharpe Ratio Comparison

The current XNAV Sharpe Ratio is 2.00, which is higher than the FMAG Sharpe Ratio of 0.57. The chart below compares the historical Sharpe Ratios of XNAV 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.

Drawdowns

XNAV vs. FMAG - Drawdown Comparison

The maximum XNAV drawdown since its inception was -24.27%, smaller than the maximum FMAG drawdown of -32.93%. Use the drawdown chart below to compare losses from any high point for XNAV and FMAG.

Drawdown Indicators

	XNAV	FMAG	Difference
Max Drawdown Largest peak-to-trough decline	-24.27%	-32.93%	+8.66%
Max Drawdown (1Y) Largest decline over 1 year	-11.47%	-13.97%	+2.50%
Max Drawdown (3Y) Largest decline over 3 years	-24.27%	-20.12%	-4.15%
Max Drawdown (5Y) Largest decline over 5 years	—	-32.93%	—
Current Drawdown Current decline from peak	-5.36%	-3.58%	-1.78%
Average Drawdown Average peak-to-trough decline	-3.58%	-8.92%	+5.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.89%	4.00%	-1.11%

Volatility

XNAV vs. FMAG - Volatility Comparison

FundX Aggressive ETF (XNAV) has a higher volatility of 9.39% compared to Fidelity Magellan ETF (FMAG) at 6.80%. This indicates that XNAV'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.

Volatility by Period

	XNAV	FMAG	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.39%	6.80%	+2.59%
Volatility (6M) Calculated over the trailing 6-month period	16.05%	12.79%	+3.26%
Volatility (1Y) Calculated over the trailing 1-year period	18.57%	15.44%	+3.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.15%	20.02%	-0.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.15%	19.78%	-0.63%

XNAV vs. FMAG - Expense Ratio Comparison

XNAV has a 1.30% expense ratio, which is higher than FMAG's 0.59% expense ratio.

Dividends

XNAV vs. FMAG - Dividend Comparison

XNAV's dividend yield for the trailing twelve months is around 0.49%, 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%
XNAV FundX Aggressive ETF	0.49%	0.58%	0.09%	1.21%	1.47%	0.00%

Frequently Asked Questions

Can I hold both XNAV and FMAG in my portfolio?

XNAV and FMAG have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XNAV or FMAG?

XNAV has higher volatility (9.39%) compared to FMAG (6.80%). In terms of maximum drawdown, XNAV dropped -24.27% vs FMAG's -32.93%.

Which ETF is better, XNAV or FMAG?

On 3-year performance, XNAV leads with 22.49% vs 19.25% for FMAG. On fees, FMAG is cheaper at 0.59% per year. On volatility, FMAG has been the lower-risk option at 6.80%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XNAV or FMAG?

Over the 3-year period, XNAV has performed better with a 22.49% return vs 19.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XNAV or FMAG?

FMAG is cheaper with a 0.59% expense ratio, compared with 1.30% for XNAV.

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

XNAV has the higher dividend yield at 0.49%, compared with 0.08% for FMAG.

What is the main difference between XNAV and FMAG?

XNAV is categorized as Large Cap Growth Equities, while FMAG is Global Equities. They also come from different issuers: FundX and Fidelity. Their fees differ too: 1.30% for XNAV and 0.59% for FMAG.

Which has better risk-adjusted returns?

XNAV currently has the higher Sharpe Ratio (2.00 vs 0.57), 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.