FGMNX vs. SNGVX
FGMNX (Fidelity GNMA Fund) and SNGVX (SIT U.S. Government Securities Fund) are both Government Bonds funds. Over the past 10 years, FGMNX returned 1.07%/yr vs 1.47%/yr for SNGVX. Their 0.72 correlation means they have sometimes moved together and sometimes differently. FGMNX charges 0.45%/yr vs 0.80%/yr for SNGVX.
Performance
FGMNX vs. SNGVX - Performance Comparison
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Returns By Period
In the year-to-date period, FGMNX achieves a 0.02% return, which is significantly higher than SNGVX's -0.22% return. Over the past 10 years, FGMNX has underperformed SNGVX with an annualized return of 1.07%, while SNGVX has yielded a comparatively higher 1.47% annualized return.
FGMNX
- 1D
- -0.39%
- 1M
- -1.26%
- 6M
- -0.44%
- YTD
- 0.02%
- 1Y
- 3.04%
- 3Y*
- 4.12%
- 5Y*
- 0.08%
- 10Y*
- 1.07%
- ALL TIME*
- 4.23%
SNGVX
- 1D
- -0.36%
- 1M
- -0.85%
- 6M
- -0.43%
- YTD
- -0.22%
- 1Y
- 2.06%
- 3Y*
- 4.03%
- 5Y*
- 1.12%
- 10Y*
- 1.47%
- ALL TIME*
- 4.02%
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. SNGVX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FGMNX Fidelity GNMA Fund | 0.02% | 7.89% | 0.43% | 5.46% | -11.52% | -1.03% | 3.74% | 5.72% | 0.62% | 1.74% |
SNGVX SIT U.S. Government Securities Fund | -0.22% | 6.93% | 2.41% | 3.22% | -4.80% | -1.15% | 3.53% | 3.34% | 1.80% | 1.34% |
Correlation
The correlation between FGMNX and SNGVX is 0.84, 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. | 0.84 |
Correlation (3Y) Balances recent behavior with more history. | 0.88 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.86 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.77 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 1988 | 0.72 |
The correlation between FGMNX and SNGVX shifts across timeframes, from 0.72 (all time) to 0.88 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
FGMNX vs. SNGVX — Risk / Return Rank
FGMNX
SNGVX
FGMNX vs. SNGVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity GNMA Fund (FGMNX) and SIT U.S. Government Securities Fund (SNGVX). 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 | SNGVX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.13 | ||
| Sortino ratioReturn per unit of downside risk | +0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.17 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.56 | 1.15 | +0.42 |
| Martin ratioReturn relative to average drawdown | 4.26 | 2.88 | +1.38 |
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Drawdowns
FGMNX vs. SNGVX - Drawdown Comparison
The maximum FGMNX drawdown since its inception was -16.84%, which is greater than SNGVX's maximum drawdown of -9.17%. Use the drawdown chart below to compare losses from any high point for FGMNX and SNGVX.
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Drawdown Indicators
| FGMNX | SNGVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.84% | -9.17% | -7.67% |
Max Drawdown (1Y)Largest decline over 1 year | -2.54% | -2.41% | -0.13% |
Max Drawdown (3Y)Largest decline over 3 years | -6.41% | -3.34% | -3.07% |
Max Drawdown (5Y)Largest decline over 5 years | -16.49% | -8.93% | -7.56% |
Max Drawdown (10Y)Largest decline over 10 years | -16.84% | -9.17% | -7.67% |
Current DrawdownCurrent decline from peak | -2.14% | -1.97% | -0.17% |
Average DrawdownAverage peak-to-trough decline | -1.91% | -0.83% | -1.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.93% | 0.96% | -0.03% |
Volatility
FGMNX vs. SNGVX - Volatility Comparison
Fidelity GNMA Fund (FGMNX) has a higher volatility of 0.97% compared to SIT U.S. Government Securities Fund (SNGVX) at 0.74%. This indicates that FGMNX's price experiences larger fluctuations and is considered to be riskier than SNGVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FGMNX | SNGVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.97% | 0.74% | +0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 2.89% | 2.29% | +0.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.69% | 2.91% | +0.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.28% | 3.75% | +2.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.69% | 2.98% | +1.71% |
FGMNX vs. SNGVX - Expense Ratio Comparison
FGMNX has a 0.45% expense ratio, which is lower than SNGVX's 0.80% expense ratio.
Dividends
FGMNX vs. SNGVX - Dividend Comparison
FGMNX's dividend yield for the trailing twelve months is around 3.34%, less than SNGVX's 3.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FGMNX Fidelity GNMA Fund | 3.34% | 3.61% | 3.23% | 3.45% | 1.68% | 0.76% | 1.61% | 2.46% | 2.19% | 2.17% | 2.61% | 2.25% |
SNGVX SIT U.S. Government Securities Fund | 3.87% | 3.76% | 3.78% | 3.23% | 1.70% | 0.75% | 1.40% | 2.18% | 2.05% | 1.60% | 1.63% | 1.87% |
Frequently Asked Questions
FGMNX and SNGVX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FGMNX has higher volatility (0.97%) compared to SNGVX (0.74%). In terms of maximum drawdown, FGMNX dropped -16.84% vs SNGVX's -9.17%.
FGMNX currently has the higher Sharpe Ratio (1.08 vs 0.95), 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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