FGMNX vs. FSTGX
FGMNX (Fidelity GNMA Fund) and FSTGX (Fidelity Intermediate Government Income Fund) are both Government Bonds funds from Fidelity. Over the past 10 years, FGMNX returned 1.10%/yr vs 0.94%/yr for FSTGX. Their correlation of 0.82 means they have usually moved in the same direction. Both charge a 0.45% expense ratio.
Performance
FGMNX vs. FSTGX - Performance Comparison
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Returns By Period
In the year-to-date period, FGMNX achieves a 0.41% return, which is significantly higher than FSTGX's -0.21% return. Over the past 10 years, FGMNX has outperformed FSTGX with an annualized return of 1.10%, while FSTGX has yielded a comparatively lower 0.94% annualized return.
FGMNX
- 1D
- 0.10%
- 1M
- -0.87%
- 6M
- -0.24%
- YTD
- 0.41%
- 1Y
- 3.45%
- 3Y*
- 4.05%
- 5Y*
- 0.16%
- 10Y*
- 1.10%
- ALL TIME*
- 4.24%
FSTGX
- 1D
- 0.00%
- 1M
- -0.51%
- 6M
- -0.26%
- YTD
- -0.21%
- 1Y
- 1.47%
- 3Y*
- 3.59%
- 5Y*
- 0.19%
- 10Y*
- 0.94%
- ALL TIME*
- 3.89%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
FGMNX Fidelity GNMA Fund | $0.00 | $0.00 | $0.00 |
| $0.00 | $0.00 | $0.00 |
FGMNX vs. FSTGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FGMNX Fidelity GNMA Fund | 0.41% | 7.89% | 0.43% | 5.46% | -11.52% | -1.03% | 3.74% | 5.72% | 0.62% | 1.74% |
FSTGX Fidelity Intermediate Government Income Fund | -0.21% | 6.00% | 2.24% | 3.88% | -8.76% | -2.28% | 5.46% | 4.84% | 1.20% | 0.98% |
Correlation
The correlation between FGMNX and FSTGX is 0.90, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.90 |
Correlation (3Y) Balances recent behavior with more history. | 0.92 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.92 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.84 |
Correlation (All Time) Calculated using the full available price history since Apr 29, 1988 | 0.82 |
The correlation between FGMNX and FSTGX has been stable across timeframes, ranging from 0.82 to 0.92 - a consistent structural relationship.
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Return for Risk
FGMNX vs. FSTGX — Risk / Return Rank
FGMNX
FSTGX
FGMNX vs. FSTGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity GNMA Fund (FGMNX) and Fidelity Intermediate Government Income Fund (FSTGX). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FGMNX | FSTGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.28 | ||
| Sortino ratioReturn per unit of downside risk | +0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.19 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.86 | 1.35 | +0.50 |
| Martin ratioReturn relative to average drawdown | 5.11 | 3.25 | +1.86 |
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Drawdowns
FGMNX vs. FSTGX - Drawdown Comparison
The maximum FGMNX drawdown since its inception was -16.84%, which is greater than FSTGX's maximum drawdown of -13.66%. Use the drawdown chart below to compare losses from any high point for FGMNX and FSTGX.
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Drawdown Indicators
| FGMNX | FSTGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.84% | -13.66% | -3.18% |
Max Drawdown (1Y)Largest decline over 1 year | -2.54% | -1.89% | -0.65% |
Max Drawdown (3Y)Largest decline over 3 years | -6.41% | -2.83% | -3.58% |
Max Drawdown (5Y)Largest decline over 5 years | -16.50% | -12.54% | -3.96% |
Max Drawdown (10Y)Largest decline over 10 years | -16.84% | -13.66% | -3.18% |
Current DrawdownCurrent decline from peak | -1.75% | -1.38% | -0.37% |
Average DrawdownAverage peak-to-trough decline | -1.91% | -1.57% | -0.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 0.79% | +0.13% |
Volatility
FGMNX vs. FSTGX - Volatility Comparison
Fidelity GNMA Fund (FGMNX) has a higher volatility of 0.92% compared to Fidelity Intermediate Government Income Fund (FSTGX) at 0.61%. This indicates that FGMNX's price experiences larger fluctuations and is considered to be riskier than FSTGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FGMNX | FSTGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.92% | 0.61% | +0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 2.86% | 1.98% | +0.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.68% | 2.57% | +1.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.28% | 4.11% | +2.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.69% | 3.38% | +1.31% |
FGMNX vs. FSTGX - Expense Ratio Comparison
Both FGMNX and FSTGX have an expense ratio of 0.45%.
Dividends
FGMNX vs. FSTGX - Dividend Comparison
FGMNX's dividend yield for the trailing twelve months is around 3.33%, more than FSTGX's 2.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FGMNX Fidelity GNMA Fund | 3.33% | 3.61% | 3.23% | 3.45% | 1.68% | 0.76% | 1.61% | 2.46% | 2.19% | 2.17% | 2.61% | 2.25% |
FSTGX Fidelity Intermediate Government Income Fund | 2.92% | 3.04% | 2.94% | 2.12% | 0.99% | 0.77% | 2.65% | 1.85% | 1.84% | 1.47% | 1.52% | 1.69% |
Frequently Asked Questions
With a correlation of 0.90, FGMNX and FSTGX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
FGMNX has higher volatility (0.92%) compared to FSTGX (0.61%). In terms of maximum drawdown, FGMNX dropped -16.84% vs FSTGX's -13.66%.
FGMNX currently has the higher Sharpe Ratio (1.29 vs 1.00), 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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