FMAG ETF — Fidelity Magellan ETF

Fidelity Magellan ETF (FMAG)

Updated October 16, 2026.

FMAG is an ETF. its distribution rate is 0.00%, its trailing-12-month yield is 0.00%, its expense ratio is 0.57%. Dividend Vision Distribution Safety Score™ is 48/100 (Caution). Total return is 76.1% over the past 5.7 years, 37.3 points behind SPY at 113.4%.

Fidelity Magellan ETF is an actively managed equity fund that invests primarily in domestic and foreign stocks on a non-diversified basis; it operates under an SEC exemptive order that allows it to publish a daily tracking basket rather than its complete holdings. The fund has a modest current distribution rate and makes quarterly distributions, with an expense ratio of 0.57%. It appeals to equity-focused investors seeking active management with the structure and liquidity of an ETF.

FMAG performance versus SPY

Price and return data through 2026-10-16.

Total return is 76.1% over the past 5.7 years, 37.3 points behind SPY at 113.4%. Over the past year its total return — price change plus distributions reinvested — is 2.7%. Its deepest 1-year drawdown was 14.0%.

FMAG key facts

Distribution Safety Score™

48 · Caution

Issuer

Fidelity Investments

Asset type

ETF

Asset class

Equity

Inception date

02/02/2021

Expense ratio

0.57%

Distribution rate

0.00%

Distribution frequency

Quarterly

Trailing yield

0.00%

Last close

$35.22 (as of 2026-10-16)

AUM

$243,695,895

Average volume

8500.0

Dividend

$0.001

Ex-dividend date

09/18/2026

Payment date

09/22/2026

Beta

1.12

How Dividend Vision calculates yield and returns

Distribution rate (0.00%) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (0.00%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: Fidelity Investments; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

FMAG risks and drawbacks

Payments are quarterly, so cash flow is lumpy versus a monthly fund. Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 14.0%.

Who may consider FMAG — and who may not

It is a weaker fit for investors who need monthly cash flow (FMAG pays quarterly); investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on FMAG

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Frequently asked questions

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