MAGS is a US ETF providing equal-weight exposure to Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla. It rebalances quarterly and combines shares with total return swaps. Unlike capitalization-weighted Nasdaq-100 exposure, its seven target companies have similar weights, offering a focused view of US mega-cap growth businesses.
History and development
The fund launched on April 11, 2023 as the Roundhill BIG Tech ETF under BIGT. On November 9, 2023 it became the Roundhill Magnificent Seven ETF and adopted MAGS. Its listing moved from Nasdaq to Cboe BZX on February 3, 2025.
The strategy packages equal-weight exposure to seven mega-cap businesses. Quarterly rebalancing restores similar weights rather than letting the largest companies dominate by capitalization. Swaps help satisfy tax diversification requirements, so the list of assets held is not identical to the economic exposure to the seven companies.
References: Roundhill: MAGS overview and history
Comparing charts on this board
Compare MAGS with the Nasdaq-100 to contrast seven-company concentration with a broader large nonfinancial universe. Stronger MAGS performance highlights the mega-cap group; stronger Nasdaq-100 performance invites a check of companies outside the seven. Equal weighting also changes the impact of the largest single company.
Place Apple, Microsoft, Nvidia and Tesla beside MAGS to see which businesses support the group. Add the S&P 500 to distinguish broad US equity strength from mega-cap growth leadership. Compare percentage changes over matching periods, not nominal share prices.
Related charts: NASDAQ 100 · S&P 500 · NVIDIA · Apple · Microsoft · Tesla
Official references: Roundhill: MAGS overview and history