DEED vs. GNMA
DEED (First Trust TCW Securitized Plus ETF) and GNMA (iShares GNMA Bond ETF) are both Mortgage Backed Securities funds. DEED is actively managed, while GNMA is passively managed. Over the past 5 years, DEED returned 0.23%/yr vs 0.55%/yr for GNMA. A 0.73 correlation means they provide meaningful diversification when combined. DEED charges 0.65%/yr vs 0.15%/yr for GNMA.
Performance
DEED vs. GNMA - Performance Comparison
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Returns By Period
In the year-to-date period, DEED achieves a 0.41% return, which is significantly lower than GNMA's 0.67% return.
DEED
- 1D
- 0.08%
- 1M
- 0.23%
- YTD
- 0.41%
- 6M
- 0.73%
- 1Y
- 6.05%
- 3Y*
- 4.96%
- 5Y*
- 0.23%
- 10Y*
- —
GNMA
- 1D
- 0.11%
- 1M
- 0.08%
- YTD
- 0.67%
- 6M
- 1.08%
- 1Y
- 5.88%
- 3Y*
- 4.33%
- 5Y*
- 0.55%
- 10Y*
- 1.23%
DEED vs. GNMA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
DEED First Trust TCW Securitized Plus ETF | 0.41% | 8.91% | 3.19% | 6.43% | -16.03% | 1.62% | 4.71% |
GNMA iShares GNMA Bond ETF | 0.67% | 8.25% | 1.07% | 5.34% | -10.83% | -1.86% | -0.03% |
Correlation
The correlation between DEED and GNMA is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.83 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since May 1, 2020 | 0.73 |
The correlation between DEED and GNMA shifts across timeframes, from 0.73 (all time) to 0.83 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
DEED vs. GNMA — Risk / Return Rank
DEED
GNMA
DEED vs. GNMA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust TCW Securitized Plus ETF (DEED) and iShares GNMA Bond ETF (GNMA). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| DEED | GNMA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.25 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.91 | 2.26 | -0.35 |
| Martin ratioReturn relative to average drawdown | 5.34 | 7.20 | -1.86 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DEED | GNMA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.55 | 1.40 | +0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.04 | 0.08 | -0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.24 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.20 | 0.25 | -0.05 |
Drawdowns
DEED vs. GNMA - Drawdown Comparison
The maximum DEED drawdown since its inception was -19.96%, which is greater than GNMA's maximum drawdown of -17.09%. Use the drawdown chart below to compare losses from any high point for DEED and GNMA.
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Drawdown Indicators
| DEED | GNMA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.96% | -17.09% | -2.87% |
Max Drawdown (1Y)Largest decline over 1 year | -3.18% | -2.61% | -0.57% |
Max Drawdown (3Y)Largest decline over 3 years | -8.50% | -7.13% | -1.37% |
Max Drawdown (5Y)Largest decline over 5 years | -19.96% | -15.83% | -4.13% |
Max Drawdown (10Y)Largest decline over 10 years | — | -17.09% | — |
Current DrawdownCurrent decline from peak | -1.96% | -1.30% | -0.66% |
Average DrawdownAverage peak-to-trough decline | -6.62% | -3.66% | -2.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.14% | 0.82% | +0.32% |
Volatility
DEED vs. GNMA - Volatility Comparison
The current volatility for First Trust TCW Securitized Plus ETF (DEED) is 1.10%, while iShares GNMA Bond ETF (GNMA) has a volatility of 1.54%. This indicates that DEED experiences smaller price fluctuations and is considered to be less risky than GNMA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DEED | GNMA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.10% | 1.54% | -0.44% |
Volatility (6M)Calculated over the trailing 6-month period | 2.87% | 3.14% | -0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.94% | 4.29% | -0.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.54% | 6.61% | -0.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.97% | 5.13% | +0.84% |
DEED vs. GNMA - Expense Ratio Comparison
DEED has a 0.65% expense ratio, which is higher than GNMA's 0.15% expense ratio.
Dividends
DEED vs. GNMA - Dividend Comparison
DEED's dividend yield for the trailing twelve months is around 4.27%, which matches GNMA's 4.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DEED First Trust TCW Securitized Plus ETF | 4.27% | 4.10% | 5.73% | 5.59% | 2.43% | 1.93% | 1.60% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
GNMA iShares GNMA Bond ETF | 4.23% | 4.19% | 4.15% | 3.43% | 2.01% | 0.64% | 1.89% | 2.61% | 2.41% | 2.15% | 1.89% | 1.50% |
Frequently Asked Questions
DEED and GNMA have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GNMA has higher volatility (1.54%) compared to DEED (1.10%). In terms of maximum drawdown, DEED dropped -19.96% vs GNMA's -17.09%.
On 5-year performance, GNMA leads with 0.55% vs 0.23% for DEED. On fees, GNMA is cheaper at 0.15% per year. On volatility, DEED has been the lower-risk option at 1.10%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, GNMA has performed better with a 0.55% return vs 0.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GNMA is cheaper with a 0.15% expense ratio, compared with 0.65% for DEED.
DEED has the higher dividend yield at 4.27%, compared with 4.23% for GNMA.
They also come from different issuers: First Trust and iShares. Their fees differ too: 0.65% for DEED and 0.15% for GNMA.
DEED currently has the higher Sharpe Ratio (1.55 vs 1.40), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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