First Trust Mortgage Income Fund (FMY) belongs to the Mortgage Backed Securities category. Below you'll find alternative mutual funds from the same category, ranked by key criteria, plus funds that investors commonly compare with FMY. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Best Risk-Adjusted Alternatives to FMY
FMY has a PortfoliosLab risk / return rank of 6. There are 5 mutual funds in the Mortgage Backed Securities category with higher risk-adjusted ranks, going as high as 30.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| Invesco Quality Income Fund Class R6 | 30 | — | Apr 2017 | FMY vs VUSSX | |
| T. Rowe Price GNMA Fund Class I | 30 | — | May 2017 | FMY vs PRXAX | |
| Tomorrow's Scholar College Savings Plan - ING GNMA... | 27 | — | — | FMY vs VWTAX | |
| TwentyFour Income Fund Limited | 15 | — | — | FMY vs TFIF.L | |
| Nuveen Mortgage and Income Fund | 8 | — | Nov 2009 | FMY vs JLS |
Top Performing FMY Alternatives (YTD)
FMY is at -1.22% YTD. There are 5 mutual funds in the Mortgage Backed Securities category with higher YTD returns, going as high as 2.82%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| TwentyFour Income Fund Limited | 2.82% | — | — | FMY vs TFIF.L | |
| T. Rowe Price GNMA Fund Class I | 0.90% | — | May 2017 | FMY vs PRXAX | |
| Tomorrow's Scholar College Savings Plan - ING GNMA... | 0.84% | — | — | FMY vs VWTAX | |
| Invesco Quality Income Fund Class R6 | 0.62% | — | Apr 2017 | FMY vs VUSSX | |
| Nuveen Mortgage and Income Fund | 0.30% | — | Nov 2009 | FMY vs JLS |
Lowest Volatility Alternatives to FMY
FMY has 9.29% 1-year volatility. There are 4 mutual funds in the Mortgage Backed Securities category with lower 1-year volatility, going as low as 3.79%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Tomorrow's Scholar College Savings Plan - ING GNMA... | 3.79% | — | — | FMY vs VWTAX | |
| Invesco Quality Income Fund Class R6 | 4.27% | — | Apr 2017 | FMY vs VUSSX | |
| T. Rowe Price GNMA Fund Class I | 4.29% | — | May 2017 | FMY vs PRXAX | |
| Nuveen Mortgage and Income Fund | 8.64% | — | Nov 2009 | FMY vs JLS | |
| TwentyFour Income Fund Limited | 9.72% | — | — | FMY vs TFIF.L |
Lowest Drawdown Alternatives to FMY
FMY has a 1-year max drawdown of -7.13%. There are 4 mutual funds in the Mortgage Backed Securities category with shallower 1-year drawdowns, going as shallow as -2.55%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Tomorrow's Scholar College Savings Plan - ING GNMA... | -2.55% | — | — | FMY vs VWTAX | |
| T. Rowe Price GNMA Fund Class I | -2.97% | — | May 2017 | FMY vs PRXAX | |
| Invesco Quality Income Fund Class R6 | -3.21% | — | Apr 2017 | FMY vs VUSSX | |
| Nuveen Mortgage and Income Fund | -5.41% | — | Nov 2009 | FMY vs JLS | |
| TwentyFour Income Fund Limited | -7.92% | — | — | FMY vs TFIF.L |
Other Mutual Funds from First Trust
The 7 most viewed First Trust mutual funds shown here include VARBX, FCT, FPEIX and span 5 categories.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Vivaldi Merger Arbitrage Fund Class I | Event Driven | 98 | 1.80% | — | Oct 2015 | FMY vs VARBX | |
| First Trust Senior Floating Rate Income Fund II | Bank Loan | 22 | 1.16% | — | Jan 2013 | FMY vs FCT | |
| First Trust Preferred Securities and Income Fund | Preferred Stock/Convertible Bonds | 67 | 0.11% | — | Jan 2011 | FMY vs FPEIX | |
| First Trust Intermediate Duration Preferred and In... | Preferred Stock/Convertible Bonds | 8 | -0.31% | — | Apr 2009 | FMY vs FPF | |
| First Trust Enhanced Equity Income Fund | Derivative Income | 41 | 3.81% | — | Aug 2004 | FMY vs FFA | |
| First Trust High Yield Opportunities 2027 Term Fun... | High Yield Bonds | 7 | 1.53% | — | Jun 2020 | FMY vs FTHY | |
| First Trust Short Duration High Income Fund | Bank Loan | 38 | -0.31% | — | Oct 2012 | FMY vs FDHIX |
Often Compared With FMY
Investors most often compare FMY with PCM. These 1 comparison targets span 1 categories, based on PortfoliosLab usage data.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| PCM Fund Inc. | Mortgage Backed Securities | 3 | -4.34% | — | Sep 1993 | FMY vs PCM |
Compare FMY with Any Fund or Stock
Compare FMY with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair FMY with funds that move differently
First Trust Mortgage Income Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to FMY.
Explore FMY Diversifiers