FMAG vs GQGU
Fidelity Magellan ETF vs GQG US Equity ETF
Which is better, FMAG or GQGU?
Each has led over a different period.
GQGU has a lower expense ratio. FMAG led over the full window, GQGU over 1Y. FMAG is less concentrated, with 44.0% of the fund in its ten largest positions against 57.2%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | FMAG | GQGU |
|---|---|---|
| Expense Ratio | 0.57% | 0.49%Best |
| AUM | $243M | $584M |
| Dividend Yield | 0.00% | 0.95% |
| Holdings | 52 | 77 |
| YTD Return | +4.67% | +4.89%Best |
| 1Y Return | +3.14% | +3.43%Best |
| 3Y Return (annualized) | +17.62% | - |
| 5Y Return (annualized) | +8.89% | - |
| Volatility (annualized) | 13.8% | 11.9%Best |
| Max Drawdown | -14.0% | -8.4%Best |
| $10,000 over 1.3 years | $10,434Best | $10,375 |
| Top 10 Weight | 44.0%Best | 57.2% |
| Fund Family | Fidelity Investments (US) | GQG Partners LLC |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Growth |
| Inception | Feb 2, 2021 | Jul 31, 2019 |
Volatility and max drawdown, and the $10,000 over 1.3 years row, are measured over the window both funds cover: Jul 14, 2025 to Oct 15, 2026 (1.3 years).
FMAG vs GQGU growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 1.3 years both funds cover.
FMAG vs GQGU Performance
Fidelity Magellan ETF (FMAG) is an ETF from Fidelity Investments (US) and GQG US Equity ETF (GQGU) is an ETF from GQG Partners LLC. Over the past year FMAG returned +3.14% while GQGU returned +3.43%. Year to date, FMAG is up 4.67% versus a gain of 4.89% for GQGU.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FMAG has been the more volatile fund, with annualized monthly volatility of 13.8% compared with 11.9% for GQGU. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -14.0% for FMAG and -8.4% for GQGU. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at -0.16. They move largely independently of each other.
Fees and Cost Over Time
FMAG charges 0.57% per year while GQGU charges 0.49%. On a $10,000 position that is $57 vs $49 annually, a gap of $8 per year that compounds over a long holding period. On income, FMAG currently yields 0.00% against 0.95% for GQGU.
Holdings Overlap
44.7% of FMAG's money is in holdings GQGU also owns. 50.8% of GQGU's money is in holdings FMAG also owns.
The two portfolios partly overlap.
13 positions in common, counted across the 50 positions we hold weights for in FMAG and 38 in GQGU, against full books of 52 and 77.
What only one of them owns
Our book lists 23 positions for GQGU that do not appear in our book for FMAG (46.1% of the fund), and 36 for FMAG that do not appear in GQGU (52.7%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in FMAG | Weight in GQGU | Difference |
|---|---|---|---|
| NVDANvidia Corp | 10.24% | 9.37% | 0.87% |
| MSFTMicrosoft Corp | 5.61% | 8.16% | 2.55% |
| AMZNAmazon.Com Inc | 6.45% | 6.76% | 0.31% |
| GOOGAlphabet Inc. C | 3.28% | 7.25% | 3.97% |
| AVGOBroadcom Inc | 4.55% | 2.56% | 1.99% |
| LRCXLrcx Uw Equity | 1.99% | 3.12% | 1.13% |
| PMPhilip Morris International Inc. | 1.40% | 3.31% | 1.91% |
| AMDAdvanced Micro Devices Inc | 3.14% | 1.29% | 1.85% |
| LLYEli Lilly & Co. | 2.39% | 1.93% | 0.46% |
| STTState Street Corp. | 1.13% | 2.69% | 1.56% |
50.8% of GQGU is already inside FMAG.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, FMAG or GQGU?
FMAG has an expense ratio of 0.57% while GQGU charges 0.49%. GQGU is the cheaper option, by $8 a year on a $10,000 investment.
Which performed better, FMAG or GQGU?
Over the past year FMAG returned +3.14% vs +3.43% for GQGU, so GQGU leads on 1-year performance. Over the longest common window we track (1 years), FMAG annualized +3.32% vs +2.87% for GQGU. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FMAG or GQGU?
FMAG has been the more volatile fund at 13.8% annualized versus 11.9% for GQGU. Worst drawdown: FMAG -14.0% vs GQGU -8.4%.
Should I hold both FMAG and GQGU?
FMAG and GQGU have a monthly-return correlation of -0.16, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between FMAG and GQGU?
50.8% of GQGU's money is in holdings FMAG also owns. 50.8% of GQGU's is in holdings FMAG also owns. They hold 13 positions in common, counted across the 50 positions we hold weights for in FMAG and 38 in GQGU.
Which pays a higher dividend, FMAG or GQGU?
FMAG yields 0.00% while GQGU yields 0.95%, so GQGU currently pays the higher dividend yield.
Is GQGU better than FMAG?
GQGU has a lower expense ratio. FMAG led over the full window, GQGU over 1Y. FMAG is less concentrated, with 44.0% of the fund in its ten largest positions against 57.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.