FMAG vs LRGC

FMAGBFidelity Magellan ETF

LRGCAAB US Large Cap Strategic Equities ETF

In short

FMAG Fidelity put the Magellan name on an ETF in 2021: an actively run book of US large-cap growth, cyclical movers alongside steadier names tied to long-term megatrends, measured against the S&P 500.

LRGC AB's stock pickers in an ETF wrapper: roughly 70 large-cap US names picked with fundamental research plus quant screens, measured against the S&P 500. Active conviction, priced under the typical active peer.

Stated mandate

FMAG The fund seeks capital appreciation through a diversified U.S. equity strategy focused on large-cap growth, including cyclical growth stocks and steady growers positioned for long-term megatrends.

LRGC The Fund seeks long-term growth of capital. It is actively managed and normally invests at least 80% of net assets in equities of large-capitalization U.S. companies.

Why people hold it

• FMAG Real stock picking, not an index clone. Managers build a diversified US large-cap growth book aimed at capital appreciation.fidelity.com
• Lands in the upper half of a crowded field of active US growth funds, a solid showing among dozens of conviction large-cap rivals.
• The 0.57% fee sits near the middle of the active large-cap growth pack, so the human at the wheel isn't priced at a premium.

• LRGC Roughly 70 holdings against a 500-stock yardstick, with quality and value screens doing the filtering. Each name actually carries weight.
• 0.39% a year sits below the median fee in its active large-cap group, so the manager isn't digging out of a deep cost hole.
• One of the stronger implementations among the actively managed US large-cap funds we track, with a plain mandate: at least 80% of net assets in large-cap US equities.
• Launched in 2023 on one of AB's core US equity strategies, with Jane Street signed on as lead market maker from day one.prnewswire.com

Worth knowing

• FMAG Cheaper rules-based options cover similar ground, including Fidelity's own FELG at 0.18%. The active mandate costs roughly three times that.
• Trades thinly next to index giants, so spreads can be wider and bigger orders can nudge the price.
• Cash comes back once or twice a year, not quarterly or monthly. This is a growth mandate, not an income one.

• LRGC At 0.39%, it costs more than cheaper enhanced-index rivals in the same group, such as JUSA at 0.12% and GUSE at 0.30%.
• Outcomes ride on the team's judgment, not an index rulebook, and about 70 positions concentrate those calls.
• It trades lightly next to the big index names, so spreads can run wider, especially in fast markets.

Full FMAG profile⁠

Full LRGC profile⁠