FMAG Fees and Costs — Fidelity Magellan ETF
Data updated: 2026-10-13
The net expense ratio is 0.57%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $26K in broker commissions, 0.0099% of average net assets, and portfolio turnover was 70%.
FMAG Fees and Expenses
Annual operating expenses and sales charges of FMAG. Prospectus, as of November 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.57% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.57% |
| Fee waiver | — |
| Net expense ratio | 0.57% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
FMAG Costs Over Time
On $10,000 invested in FMAG, assuming 5% a year before costs, total costs come to $366 over 5 years, cutting the return by 0.61% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.57%) | $60 | $188 | $327 |
| Trading costs (broker commissions) | $1 | $3 | $6 |
| Lost growth on money paid in costs | $0 | $9 | $33 |
| Total costs | $61 | $200 | $366 |
| Value after costs | $10,439 | $11,376 | $12,397 |
| Impact on return, per year | 0.61% | 0.61% | 0.61% |
FMAG Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending July 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0099%
- Total broker commissions: $26K
- Bought from dealers (principal trades, not a cost): $2.3M
- Portfolio turnover (prospectus): 70%
FMAG Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BANK OF AMERICA CORPORATION | $5K | 25.26% |
| GOLDMAN SACHS GROUP INC (THE) | $5K | 23.33% |
| MORGAN STANLEY | $3K | 15.85% |
| JPMORGAN CHASE and CO | $2K | 8.62% |
| UBS GROUP AG | $2K | 7.18% |
| BARCLAYS PLC | $999 | 4.78% |
| CITIGROUP INC | $950 | 4.55% |
| VIRTU FINANCIAL INC | $825 | 3.95% |
| JEFFERIES FINANCIAL GROUP INC | $706 | 3.38% |
| WELLS FARGO and CO | $647 | 3.10% |
FMAG Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY | $1.5M | 66.51% |
| GOLDMAN SACHS GROUP INC (THE) | $759K | 33.49% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.