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. It was launched on Mar 3, 1981.
Performance
FGMNX vs. SHMMX - Performance Comparison
Loading graphics...
FGMNX vs. SHMMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FGMNX Fidelity GNMA Fund | 0.46% | 7.89% | 0.43% | 5.46% | -11.52% | -1.03% | 3.74% | 5.72% | 0.62% | 1.74% |
SHMMX Western Asset Managed Municipals Fund | -0.24% | 4.42% | 2.90% | 7.17% | -10.11% | 2.74% | 4.23% | 7.49% | 0.44% | 5.54% |
Returns By Period
In the year-to-date period, FGMNX achieves a 0.46% return, which is significantly higher than SHMMX's -0.24% return. Over the past 10 years, FGMNX has underperformed SHMMX with an annualized return of 1.22%, while SHMMX has yielded a comparatively higher 2.19% annualized return.
FGMNX
- 1D
- 0.19%
- 1M
- -1.33%
- YTD
- 0.46%
- 6M
- 1.56%
- 1Y
- 4.70%
- 3Y*
- 3.76%
- 5Y*
- 0.19%
- 10Y*
- 1.22%
SHMMX
- 1D
- 0.27%
- 1M
- -1.99%
- YTD
- -0.24%
- 6M
- 1.19%
- 1Y
- 3.43%
- 3Y*
- 3.77%
- 5Y*
- 1.17%
- 10Y*
- 2.19%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
FGMNX vs. SHMMX - Expense Ratio Comparison
FGMNX has a 0.45% expense ratio, which is lower than SHMMX's 0.67% expense ratio.
Return for Risk
FGMNX vs. SHMMX — Risk / Return Rank
FGMNX
SHMMX
FGMNX vs. SHMMX - Risk-Adjusted Trends 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.
| FGMNX | SHMMX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.17 | 0.73 | +0.44 |
Sortino ratioReturn per unit of downside risk | 1.69 | 0.98 | +0.71 |
Omega ratioGain probability vs. loss probability | 1.21 | 1.20 | +0.01 |
Calmar ratioReturn relative to maximum drawdown | 1.94 | 0.87 | +1.07 |
Martin ratioReturn relative to average drawdown | 5.55 | 2.61 | +2.94 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| FGMNX | SHMMX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.17 | 0.73 | +0.44 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.03 | 0.28 | -0.25 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.26 | 0.52 | -0.26 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.04 | 1.09 | -0.05 |
Correlation
The correlation between FGMNX and SHMMX is 0.36, 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.
Dividends
FGMNX vs. SHMMX - Dividend Comparison
FGMNX's dividend yield for the trailing twelve months is around 3.30%, less than SHMMX's 3.47% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FGMNX Fidelity GNMA Fund | 3.30% | 3.61% | 3.23% | 3.45% | 1.68% | 0.76% | 1.61% | 2.46% | 2.19% | 2.17% | 2.61% | 2.25% |
SHMMX Western Asset Managed Municipals Fund | 3.47% | 4.53% | 3.87% | 3.73% | 2.82% | 2.05% | 2.73% | 3.59% | 3.82% | 3.89% | 3.79% | 3.84% |
Drawdowns
FGMNX vs. SHMMX - Drawdown Comparison
The maximum FGMNX drawdown since its inception was -16.84%, roughly equal to the maximum SHMMX drawdown of -16.40%. Use the drawdown chart below to compare losses from any high point for FGMNX and SHMMX.
Loading graphics...
Drawdown Indicators
| FGMNX | SHMMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.84% | -16.40% | -0.44% |
Max Drawdown (1Y)Largest decline over 1 year | -2.91% | -5.43% | +2.52% |
Max Drawdown (5Y)Largest decline over 5 years | -16.62% | -14.96% | -1.66% |
Max Drawdown (10Y)Largest decline over 10 years | -16.84% | -14.96% | -1.88% |
Current DrawdownCurrent decline from peak | -1.71% | -2.25% | +0.54% |
Average DrawdownAverage peak-to-trough decline | -1.91% | -1.86% | -0.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.02% | 1.80% | -0.78% |
Volatility
FGMNX vs. SHMMX - Volatility Comparison
Fidelity GNMA Fund (FGMNX) has a higher volatility of 1.50% compared to Western Asset Managed Municipals Fund (SHMMX) at 1.13%. 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.
Loading graphics...
Volatility by Period
| FGMNX | SHMMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.50% | 1.13% | +0.37% |
Volatility (6M)Calculated over the trailing 6-month period | 2.49% | 1.70% | +0.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.41% | 5.38% | -0.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.21% | 4.16% | +2.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.65% | 4.24% | +0.41% |