FMAGX Fees and Costs — Fidelity Magellan Fund
Data updated: 2026-08-24
The net expense ratio is 0.64%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $3.0M in broker commissions, 0.0081% of average net assets, and portfolio turnover was 54%.
FMAGX Fees and Expenses
Annual operating expenses and sales charges of FMAGX. Prospectus, as of May 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.64% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.64% |
| Fee waiver | — |
| Net expense ratio | 0.64% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
FMAGX Costs Over Time
On $10,000 invested in FMAGX, assuming 5% a year before costs, total costs come to $408 over 5 years, cutting the return by 0.68% 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 0.64%) | $67 | $210 | $366 |
| Trading costs (broker commissions) | $1 | $3 | $5 |
| Lost growth on money paid in costs | $0 | $11 | $37 |
| Total costs | $68 | $224 | $408 |
| Value after costs | $10,432 | $11,353 | $12,355 |
| Impact on return, per year | 0.68% | 0.68% | 0.68% |
FMAGX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0081%
- Total broker commissions: $3.0M
- Bought from dealers (principal trades, not a cost): $620.8M
- Portfolio turnover (prospectus): 54%
- Securities on loan, average value: $11.0M
- Net income from securities lending: $18K (0.000% of average net assets)
FMAGX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS GROUP INC (THE) | $638K | 25.24% |
| BANK OF AMERICA CORPORATION | $441K | 17.43% |
| MORGAN STANLEY | $419K | 16.58% |
| UBS GROUP AG | $284K | 11.23% |
| JPMORGAN CHASE and CO | $189K | 7.47% |
| JEFFERIES FINANCIAL GROUP INC | $180K | 7.11% |
| CITIGROUP INC | $136K | 5.39% |
| BARCLAYS PLC | $107K | 4.21% |
| ROYAL BANK OF CANADA | $70K | 2.75% |
| VIRTU FINANCIAL INC | $65K | 2.58% |
FMAGX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JPMORGAN CHASE and CO | $395.6M | 63.73% |
| MORGAN STANLEY | $207.7M | 33.46% |
| GOLDMAN SACHS GROUP INC (THE) | $17.5M | 2.81% |
Fidelity Magellan Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| FMASX | Class Z | 0.57% | none |
| FMGKX | Class K | 0.57% | — |
| FMAGX | Fidelity Magellan Fund | 0.64% | — |
| FMAOX | Class I | 0.68% | none |
| FMAEX | Class A | 0.93% | 5.75% |
| FMAJX | Class M | 1.18% | 3.50% |
| FMANX | Class C | 1.68% | none |
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.