Overall, with my fidelity account, if I click on the security it opens a sub panel that shows all original transactions and their appropriate gains, so that’s great. And of course I have a spread sheet for all that I update regularly, but I guess my over analytical and esthetic self always hates seeing averages overall. As I said, silly problem to have
Digital Turbine $APPS is a great company with some great software. Nice Q4 results and now the stock going up like a "turbine".
FMAGX There were times when Magellan was untouchable. I’m just curious if it’s still the same management and structure
don't know about mgmt and structure, but compared to index fund FXAIX, FMAGX expense ratio is .77, FXAIX is .02, FMAGX performance in 2020 was 28.34%, FXAIX was 18.40, FMAGX distribution is 0. FXAIX distribution is 1.62.
I recall a pretty sharp guy at Magellan but he retired in 1990 and I mostly lost track of the fund after that.
sorry emmet gave you the wrong ticker. It’s FMAG. Long day I have a friend who’s been investing probably as long as W and he always tells me how his best move was to invest in Magellan during Peter Lynch’s tenure. At some point he said that they even stopped taking new clients. So when I heard the news today I figured I’d ask here
Yeah...same for me TomB16. I left Magellan back when Peter Lynch left as manager. Back around 2000....Magellan Fund had about $100BILLION in assets....it is now about $22BILLION. I dont think it has ever matched the GLORY DAYS of Lynch. BUT....it does have a pretty good record.....basically mirroring the SP500....for the most part. This ETF is not really anything new.....it is simply "wrapping" the......existing...... Magellan Fund as an ETF. Performance should be the same.
Oh yes.....ALL of my trades in the one account were competed this morning. the $150,000 that is going into the mutual funds....SP500 Index fund and Fidelity Contra Fund.....will happen tonight after the close. I checked them a few minutes ago....short term about half of the new shares are UP and about half of the new shares are DOWN. About what I would expect by random chance.
AND......earnings continue today.....221 companies reporting today. Some known names.....but none that i happen to follow. THE MEDIA.....absolutely obsessed with the......GameStop/Robinhood.......story as usual. The articles on this issue CONTINUE to dominate.......all the sites.....as I scan for articles relevant to long term investors. BUT....you can all relax and breath a sigh of relief.....Janet Yellen and the FEDS are on the case and meeting today to talk about the issue of GameStop and market volatility. Just what we need more Federal government interference with the operation of the.....supposedly....free markets. By the time they get around to doing anything the issue will be in the distant past......and....whatever they do....in typical FEDERAL FORM.....will likely create some big mess due to unintended consequences.
well since we are on the topic and without resorting to google research, would the 10% higher yearly performance in FMAGX more than offset the lower expense ratio + distribution found in FXAIX?
WELL.....I was NOT particularly looking for this article or researching the subject of Fidelity Magellan fund. BUT....as I was looking at the fund symbols being posted by many people in the above posts....this little article popped up. I DO own contra fund that is mentioned in the article.....but that is also incidental. For what it is worth......since this article is from 2018: Is It Surprising That Fidelity Magellan Isn't Drawing a Lot of Cash? It makes plenty of sense that investors would not be impressed. https://www.morningstar.com/article...-fidelity-magellan-isnt-drawing-a-lot-of-cash (BOLD is my opinion OR what I consider important content) "Fidelity Magellan (FMAGX) is beating its benchmark and no one cares. This was the gist of an interesting article in Bloomberg recently. It's factually correct that the fund is in outflows and is ahead of the S&P 500. The article also correctly captured the industry environment in which even strongly performing funds fail to attract much money, at least in U.S. active equity. But I wish the article had gone on to point out that the situation isn't as bad as these things suggest. For starters, it makes plenty of sense that investors would not be impressed. Morningstar analysts are not impressed: We give the fund a Morningstar Analyst Rating of Neutral, so clearly we think there's good reason to pass on it. And Fidelity Magellan's quantitative backward-looking Morningstar Rating for funds is just 2 stars through the end of May. Fidelity Magellan's performance is less impressive than its performance versus the S&P 500 suggests, because the S&P 500 has a slightly lower correlation with it than the Russell 1000 Growth Index. This has consistently been a large-growth fund, and those funds are usually benchmarked against the Russell 1000 Growth Index, which has performed better than the S&P in recent years because growth is beating value. So, beating the S&P 500 over the past five years merely puts Fidelity Magellan in the company of two thirds of large-growth funds. Since taking the helm in September 2011, Jeff Feingold has produced a return of 15.15% annualized through June 2018 versus 14.38% for the large-growth Morningstar Category and 16.41% for the Russell 1000 Growth Index. That's a respectable but uninspiring performance. Two of the better predictors of flows are a fund's star rating and its performance versus its benchmark. Over Feingold's tenure, the fund has moved between 1 and 3 stars. To be sure, some of that weak star rating was caused by his predecessor's performance, but in any case the star ratings help explain why the fund hasn't been a draw. Is it really all that surprising that a fund with merely average five-year performance and subpar 10-year numbers hasn't attracted a legion of new followers? If we limit ourselves to active large-growth funds that beat the Russell 1000 Growth Index over the past five years, we see an average one-year outflow of $51 million and a five-year outflow of $540 million. If we limit ourselves to large-growth funds that are currently 4-star or 5-star rated, we see net inflows of $138 million the past year and $284 million the past five years. So, yes, things are particularly tough on large-growth managers these days, but not as tough as the story on Fidelity Magellan might lead you to believe. T. Rowe Price Blue Chip Growth (TRBCX) took in $3.8 billion in net flows the past 21 months, and PRIMECAP Odyssey Growth (POGRX) took in $1.8 billion. So investors are still rewarding some of the very best. And outside of large growth, active management is generally under a little less pressure. As an investor, I'm absolutely fine with some of the giants like American Funds Growth Fund of America (AGTHX) and Fidelity Contrafund (FCNTX) seeing modest outflows. They are clearly above the optimal level for strong returns and low risk. Fidelity Magellan is a caution, though, of what can happen when a fund grows way beyond the ability of one person to run it well and of the challenges faced in righting the ship. Sure, Will Danoff is doing just fine at Fidelity Contrafund, but his kind are very rare indeed." MY COMMENT SO......if this article is correct.....and...the proper benchmark is the RUSSELL 1000 Growth Index......I would use that to evaluate the fund. I have NO IDEA.....if or how.....the fund is performing.......as of NOW........versus the RUSSELL 1000.....or.....if that is a more realistic benchark. I ALSO....have no intention to do the research.....since i am not adding any funds to my portfolio. I am posting this.....in case anyone is thinking of the Magellan Fund or ETF......and wishes to compare their performance to the Russell 1000 instead of the SP500. I have no idea......having NOT looked.....what the.....CURRENT.....data would show. In other words......WTF DO I know?
SO.....of course.....now I am curious....so I looked at Magellan versus the SP500. What I am seeing.....as of.....the close.......on February 2, 2021. Magellan YTD 0.38% 1 month 1.71% 3 month 6.14% 1 year 6.14% 3 year 13.82% 5 year 18.49% 10 year 13.31% 15 year 8.81% SP500 TR US YTD 2.36% 1 month 4.3% 3 month 11.69% 1 year 17.77% 3 year 12.84% 5 year 17.35% 10 year 13.91% 15 year 9.97% Source: https://www.askfinny.com/symbol/info/FMAGX/performance I have NO IDEA.......if this data is correct........but for what it might be worth.
NICE surprise when I looked at my portfolio a few minutes ago. Looks like the market RALLIED nicely into the close.....and.....I ended even better than expected. A NICE GREEN day today.....with a smattering of......slightly..... down stocks in my portfolio. I got beat by the SP500 by .41%. BUT......any green day is a good thing. A REALLY good week so far this week.....especially considering the debacle last week. the SP500 is up ALL four days so far this week and is up year to date.......3.08%. I am looking for a NICE close to the week tomorrow........TGIF.
Thanks guys for the research and reaction! I guess Magellan is now just a name with some past prestige which is mainly attributed to great past leadership. So in other words... Bah Humbug!
Personally I like the Fidelity Contra Fund......since I own it. Are there any other owners of this fund on here? When Peter Lynch left Magellan I continued with the fund for a short time....but...lost confidence in them. At that time....about 29-30 years ago....I heard of Fidelity Contra Fund...being run by Will Danoff. He trained under Peter Lynch. I moved from Magellan to Contra back at that time 29-30 years ago. I STILL own the fund as one of my two mutual fund holdings in my Portfolio Model. My ONLY ISSUE.....one of these days Will Danoff is going to retire. Actually....I am surprised he has not retired yet since he has been a SUPER STAR manager for 30+ years now. I guess he must really like what he does....but....he is 61 years old....and it WILL happen. That will be a SAD DAY for my portfolio.
No, but I am in a different large growth fund called PrimeCap Odyssey (POGRX) See below for comparison.
