FMAG vs IVV
Fidelity Magellan ETF vs iShares Core S&P 500 ETF
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | FMAG | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.57% | 0.03% | |
| AUM | $246M | $907.0B | |
| Dividend Yield | 0.08% | 1.10% | |
| Holdings | 52 | 508 | |
| YTD Return | +5.99% | +13.22% | |
| 1Y Return | +4.11% | +21.62% | |
| 3Y Return (annualized) | +18.84% | +22.17% | |
| 5Y Return (annualized) | +9.47% | +13.42% | |
| Volatility (annualized) | 18.1% | 15.1% | |
| Max Drawdown | -32.9% | -56.5% | |
| Fund Family | Fidelity Investments (US) | iShares by BlackRock (US) | |
| Category | Equity | Equity | |
| Inception | Feb 2, 2021 | May 15, 2000 |
FMAG vs IVV Performance
Fidelity Magellan ETF (FMAG) is a ETF from Fidelity Investments (US) and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year FMAG returned +4.11% while IVV returned +21.62%. Year to date, FMAG is up 5.99% versus a gain of 13.22% for IVV.
Over three years, FMAG compounded at +18.84% per year against +22.17% for IVV; over five years the annualized figures are +9.47% and +13.42% respectively. Across the full 6-year window we track, FMAG has the edge at +11.34% annualized vs +7.02%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FMAG has been the more volatile fund, with annualized monthly volatility of 18.1% compared with 15.1% for IVV. 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 -32.9% for FMAG and -56.5% for IVV. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.94. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
FMAG charges 0.57% per year while IVV charges 0.03%. On a $10,000 position that is $57 vs $3 annually, a gap of $54 per year that compounds over a long holding period. On income, FMAG currently yields 0.08% against 1.10% for IVV.
Holdings Overlap
FMAG and IVV share 44 holdings out of 512 unique holdings combined, representing a 36.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, FMAG or IVV?
FMAG has an expense ratio of 0.57% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $54 per year of difference.
Which performed better, FMAG or IVV?
Over the past year FMAG returned +4.11% vs +21.62% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (6 years), FMAG annualized +11.34% vs +7.02% for IVV. Past performance does not guarantee future results.
Which is riskier, FMAG or IVV?
FMAG has been the more volatile fund at 18.1% annualized versus 15.1% for IVV. Worst drawdown: FMAG -32.9% vs IVV -56.5%.
Should I hold both FMAG and IVV?
FMAG and IVV have a monthly-return correlation of 0.94, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between FMAG and IVV?
FMAG and IVV share 44 common holdings with a 36.1% weight overlap. Combined, they hold 512 unique securities.
Which pays a higher dividend, FMAG or IVV?
FMAG yields 0.08% while IVV yields 1.10%, so IVV currently pays the higher dividend yield.
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