Correlation
The correlation between FGMNX and SHMMX is 0.05, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
FGMNX vs. SHMMX
Compare and contrast key facts about Fidelity GNMA Fund (FGMNX) and Western Asset Managed Municipals Fund (SHMMX).
FGMNX is managed by Fidelity. It was launched on Nov 8, 1985. SHMMX is managed by Franklin Templeton Investments. It was launched on Mar 3, 1981.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FGMNX or SHMMX.
Performance
FGMNX vs. SHMMX - Performance Comparison
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Key characteristics
FGMNX:
1.09
SHMMX:
0.13
FGMNX:
1.48
SHMMX:
0.08
FGMNX:
1.17
SHMMX:
1.01
FGMNX:
0.60
SHMMX:
0.03
FGMNX:
2.43
SHMMX:
0.10
FGMNX:
2.21%
SHMMX:
1.98%
FGMNX:
5.48%
SHMMX:
5.88%
FGMNX:
-16.43%
SHMMX:
-16.39%
FGMNX:
-4.33%
SHMMX:
-4.72%
Returns By Period
In the year-to-date period, FGMNX achieves a 2.22% return, which is significantly higher than SHMMX's -2.45% return. Over the past 10 years, FGMNX has underperformed SHMMX with an annualized return of 0.97%, while SHMMX has yielded a comparatively higher 1.84% annualized return.
FGMNX
2.22%
-1.08%
0.94%
6.01%
1.15%
-0.77%
0.97%
SHMMX
-2.45%
-0.89%
-3.91%
0.75%
1.25%
1.14%
1.84%
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FGMNX vs. SHMMX - Expense Ratio Comparison
FGMNX has a 0.45% expense ratio, which is lower than SHMMX's 0.67% expense ratio.
Risk-Adjusted Performance
FGMNX vs. SHMMX — Risk-Adjusted Performance Rank
FGMNX
SHMMX
FGMNX vs. SHMMX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity GNMA Fund (FGMNX) and Western Asset Managed Municipals Fund (SHMMX). 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.
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Dividends
FGMNX vs. SHMMX - Dividend Comparison
FGMNX's dividend yield for the trailing twelve months is around 3.85%, more than SHMMX's 3.47% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FGMNX Fidelity GNMA Fund | 3.85% | 3.83% | 3.45% | 1.99% | 0.97% | 1.61% | 2.46% | 2.19% | 2.18% | 2.44% | 2.41% | 2.12% |
SHMMX Western Asset Managed Municipals Fund | 3.47% | 3.33% | 3.24% | 2.88% | 2.47% | 2.73% | 3.34% | 3.82% | 3.89% | 3.81% | 3.81% | 3.90% |
Drawdowns
FGMNX vs. SHMMX - Drawdown Comparison
The maximum FGMNX drawdown since its inception was -16.43%, roughly equal to the maximum SHMMX drawdown of -16.39%. Use the drawdown chart below to compare losses from any high point for FGMNX and SHMMX.
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Volatility
FGMNX vs. SHMMX - Volatility Comparison
Fidelity GNMA Fund (FGMNX) has a higher volatility of 1.61% compared to Western Asset Managed Municipals Fund (SHMMX) at 0.82%. This indicates that FGMNX's price experiences larger fluctuations and is considered to be riskier than SHMMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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