FMY vs. VWTAX
FMY (First Trust Mortgage Income Fund) and VWTAX (Tomorrow's Scholar College Savings Plan - ING GNMA Income Fund) are both Mortgage Backed Securities funds. Over the past 3 years, FMY returned 9.42%/yr vs 3.34%/yr for VWTAX. At a 0.11 correlation, their price movements are largely independent.
Performance
FMY vs. VWTAX - Performance Comparison
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Returns By Period
In the year-to-date period, FMY achieves a -1.22% return, which is significantly lower than VWTAX's 0.84% return.
FMY
- 1D
- -0.09%
- 1M
- 0.95%
- YTD
- -1.22%
- 6M
- 1.22%
- 1Y
- 4.07%
- 3Y*
- 9.42%
- 5Y*
- 3.54%
- 10Y*
- 3.97%
VWTAX
- 1D
- 0.56%
- 1M
- 0.84%
- YTD
- 0.84%
- 6M
- 0.74%
- 1Y
- 4.62%
- 3Y*
- 3.34%
- 5Y*
- —
- 10Y*
- —
FMY vs. VWTAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FMY First Trust Mortgage Income Fund | -1.22% | 8.63% | 7.04% | 16.08% | -8.89% |
VWTAX Tomorrow's Scholar College Savings Plan - ING GNMA Income Fund | 0.84% | 6.42% | 0.70% | 3.93% | -9.46% |
Correlation
The correlation between FMY and VWTAX is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Mar 8, 2022 | 0.11 |
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Return for Risk
FMY vs. VWTAX — Risk / Return Rank
FMY
VWTAX
FMY vs. VWTAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Mortgage Income Fund (FMY) and Tomorrow's Scholar College Savings Plan - ING GNMA Income Fund (VWTAX). 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.
| FMY | VWTAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.89 | ||
| Sortino ratioReturn per unit of downside risk | -1.34 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.24 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 0.57 | 1.97 | -1.40 |
| Martin ratioReturn relative to average drawdown | 1.82 | 6.23 | -4.41 |
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Drawdowns
FMY vs. VWTAX - Drawdown Comparison
The maximum FMY drawdown since its inception was -27.98%, which is greater than VWTAX's maximum drawdown of -14.14%. Use the drawdown chart below to compare losses from any high point for FMY and VWTAX.
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Drawdown Indicators
| FMY | VWTAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.98% | -14.14% | -13.84% |
Max Drawdown (1Y)Largest decline over 1 year | -7.13% | -2.55% | -4.58% |
Max Drawdown (3Y)Largest decline over 3 years | -7.13% | -7.19% | +0.06% |
Max Drawdown (5Y)Largest decline over 5 years | -19.94% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -19.94% | — | — |
Current DrawdownCurrent decline from peak | -3.26% | -0.91% | -2.35% |
Average DrawdownAverage peak-to-trough decline | -6.80% | -5.31% | -1.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.24% | 0.78% | +1.46% |
Volatility
FMY vs. VWTAX - Volatility Comparison
First Trust Mortgage Income Fund (FMY) has a higher volatility of 2.47% compared to Tomorrow's Scholar College Savings Plan - ING GNMA Income Fund (VWTAX) at 1.34%. This indicates that FMY's price experiences larger fluctuations and is considered to be riskier than VWTAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FMY | VWTAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.47% | 1.34% | +1.13% |
Volatility (6M)Calculated over the trailing 6-month period | 7.35% | 2.78% | +4.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.29% | 3.79% | +5.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.10% | 6.36% | +6.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.78% | 6.36% | +5.42% |
Dividends
FMY vs. VWTAX - Dividend Comparison
FMY's dividend yield for the trailing twelve months is around 6.81%, while VWTAX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FMY First Trust Mortgage Income Fund | 6.81% | 6.91% | 7.95% | 6.64% | 5.89% | 5.21% | 5.18% | 5.14% | 5.66% | 5.45% | 6.17% | 6.43% |
VWTAX Tomorrow's Scholar College Savings Plan - ING GNMA Income Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FMY and VWTAX have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FMY has higher volatility (2.47%) compared to VWTAX (1.34%). In terms of maximum drawdown, FMY dropped -27.98% vs VWTAX's -14.14%.
VWTAX currently has the higher Sharpe Ratio (1.33 vs 0.44), 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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