FMY vs. VWTAX

Last updated Apr 1, 2026

Compare and contrast key facts about First Trust Mortgage Income Fund (FMY) and Tomorrow's Scholar College Savings Plan - ING GNMA Income Fund (VWTAX).

FMY is managed by First Trust. It was launched on May 25, 2005.

Performance

FMY vs. VWTAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Mortgage Income Fund (FMY) and Tomorrow's Scholar College Savings Plan - ING GNMA Income Fund (VWTAX). The values are adjusted to include any dividend payments, if applicable.

FMY vs. VWTAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FMY First Trust Mortgage Income Fund	-2.09%	8.63%	7.04%	16.08%	-8.10%
VWTAX Tomorrow's Scholar College Savings Plan - ING GNMA Income Fund	0.09%	6.42%	0.70%	3.93%	-9.46%

Returns By Period

In the year-to-date period, FMY achieves a -2.09% return, which is significantly lower than VWTAX's 0.09% return.

FMY

• 1D: 0.64%
• 1M: -4.11%
• YTD: -2.09%
• 6M: -0.76%
• 1Y: 3.04%
• 3Y*: 8.76%
• 5Y*: 3.79%
• 10Y*: 3.91%

VWTAX

• 1D: 0.56%
• 1M: -1.64%
• YTD: 0.09%
• 6M: 1.13%
• 1Y: 3.65%
• 3Y*: 2.81%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FMY vs. VWTAX - Expense Ratio Comparison

FMY

First Trust Mortgage Income Fund

Return for Risk

FMY vs. VWTAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FMY

FMY Risk / Return Rank: 14
FMY Sharpe Ratio Rank: 12
FMY Sortino Ratio Rank: 10
FMY Omega Ratio Rank: 9
FMY Calmar Ratio Rank: 17
FMY Martin Ratio Rank: 20

VWTAX

VWTAX Risk / Return Rank: 43
VWTAX Sharpe Ratio Rank: 47
VWTAX Sortino Ratio Rank: 47
VWTAX Omega Ratio Rank: 34
VWTAX Calmar Ratio Rank: 51
VWTAX Martin Ratio Rank: 36

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

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.

	FMY	VWTAX	Difference
Sharpe ratio Return per unit of total volatility	0.33	0.96	-0.63
Sortino ratio Return per unit of downside risk	0.53	1.41	-0.88
Omega ratio Gain probability vs. loss probability	1.06	1.17	-0.11
Calmar ratio Return relative to maximum drawdown	0.53	1.29	-0.75
Martin ratio Return relative to average drawdown	2.21	3.88	-1.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FMY vs. VWTAX - Sharpe Ratio Comparison

The current FMY Sharpe Ratio is 0.33, which is lower than the VWTAX Sharpe Ratio of 0.96. The chart below compares the historical Sharpe Ratios of FMY and VWTAX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FMY	VWTAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.33	0.96	-0.63
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.29	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.33	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.04	+0.28

Correlation

The correlation between FMY and VWTAX is 0.10, 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

FMY vs. VWTAX - Dividend Comparison

FMY's dividend yield for the trailing twelve months is around 6.97%, while VWTAX has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FMY First Trust Mortgage Income Fund	6.97%	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%

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.

Drawdown Indicators

	FMY	VWTAX	Difference
Max Drawdown Largest peak-to-trough decline	-27.98%	-14.14%	-13.84%
Max Drawdown (1Y) Largest decline over 1 year	-7.13%	-2.76%	-4.37%
Max Drawdown (5Y) Largest decline over 5 years	-19.94%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-19.94%	—	—
Current Drawdown Current decline from peak	-4.11%	-1.64%	-2.47%
Average Drawdown Average peak-to-trough decline	-6.84%	-5.54%	-1.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.73%	0.92%	+0.81%

Volatility

FMY vs. VWTAX - Volatility Comparison

First Trust Mortgage Income Fund (FMY) has a higher volatility of 4.13% compared to Tomorrow's Scholar College Savings Plan - ING GNMA Income Fund (VWTAX) at 1.26%. 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.

Volatility by Period

	FMY	VWTAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.13%	1.26%	+2.87%
Volatility (6M) Calculated over the trailing 6-month period	7.14%	2.39%	+4.75%
Volatility (1Y) Calculated over the trailing 1-year period	9.22%	4.23%	+4.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.09%	6.46%	+6.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.77%	6.46%	+5.31%