FNMA vs. ESNT
FNMA (Federal National Mortgage Association) and ESNT (Essent Group Ltd.) are both stocks. Both operate in the Mortgage Finance industry within the Financial Services sector. Over the past 10 years, FNMA returned 11.69%/yr vs 12.92%/yr for ESNT. At a 0.15 correlation, their price movements are largely independent.
Performance
FNMA vs. ESNT - Performance Comparison
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Returns By Period
In the year-to-date period, FNMA achieves a -42.59% return, which is significantly lower than ESNT's -6.92% return. Over the past 10 years, FNMA has underperformed ESNT with an annualized return of 11.69%, while ESNT has yielded a comparatively higher 12.92% annualized return.
FNMA
- 1D
- -2.99%
- 1M
- -14.27%
- YTD
- -42.59%
- 6M
- -42.96%
- 1Y
- -37.71%
- 3Y*
- 142.49%
- 5Y*
- 35.07%
- 10Y*
- 11.69%
ESNT
- 1D
- 1.44%
- 1M
- -1.05%
- YTD
- -6.92%
- 6M
- -8.05%
- 1Y
- 0.02%
- 3Y*
- 12.73%
- 5Y*
- 7.48%
- 10Y*
- 12.92%
FNMA vs. ESNT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FNMA Federal National Mortgage Association | -42.59% | 227.13% | 206.54% | 202.77% | -56.90% | -65.69% | -23.40% | 194.34% | -60.00% | -32.05% |
ESNT Essent Group Ltd. | -6.92% | 21.95% | 5.23% | 38.60% | -12.76% | 7.06% | -15.53% | 53.00% | -21.28% | 34.14% |
Correlation
The correlation between FNMA and ESNT is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Oct 31, 2013 | 0.15 |
The correlation between FNMA and ESNT shifts across timeframes, from 0.02 (1 year) to 0.15 (10 years), reflecting how their relationship changes across market environments.
Fundamentals
FNMA:
$36.30B
ESNT:
$5.65B
FNMA:
$2.77
ESNT:
$6.98
FNMA:
2.22
ESNT:
8.57
FNMA:
0.00
ESNT:
1.98
FNMA:
0.23
ESNT:
4.55
FNMA:
$161.03B
ESNT:
$1.29B
FNMA:
$117.99B
ESNT:
$839.13M
FNMA:
$111.39B
ESNT:
$643.27M
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Return for Risk
FNMA vs. ESNT — Risk / Return Rank
FNMA
ESNT
FNMA vs. ESNT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Federal National Mortgage Association (FNMA) and Essent Group Ltd. (ESNT). 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.
| FNMA | ESNT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | -0.30 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.02 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.54 | 0.00 | -0.54 |
| Martin ratioReturn relative to average drawdown | -0.98 | 0.00 | -0.98 |
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Drawdowns
FNMA vs. ESNT - Drawdown Comparison
The maximum FNMA drawdown since its inception was -99.74%, which is greater than ESNT's maximum drawdown of -64.72%. Use the drawdown chart below to compare losses from any high point for FNMA and ESNT.
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Drawdown Indicators
| FNMA | ESNT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.74% | -64.72% | -35.02% |
Max Drawdown (1Y)Largest decline over 1 year | -69.76% | -15.41% | -54.35% |
Max Drawdown (3Y)Largest decline over 3 years | -69.76% | -18.36% | -51.40% |
Max Drawdown (5Y)Largest decline over 5 years | -77.35% | -28.79% | -48.56% |
Max Drawdown (10Y)Largest decline over 10 years | -92.13% | -64.72% | -27.41% |
Current DrawdownCurrent decline from peak | -91.59% | -9.44% | -82.15% |
Average DrawdownAverage peak-to-trough decline | -46.20% | -13.74% | -32.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 38.61% | 7.61% | +31.00% |
Volatility
FNMA vs. ESNT - Volatility Comparison
Federal National Mortgage Association (FNMA) has a higher volatility of 17.76% compared to Essent Group Ltd. (ESNT) at 6.46%. This indicates that FNMA's price experiences larger fluctuations and is considered to be riskier than ESNT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FNMA | ESNT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.76% | 6.46% | +11.30% |
Volatility (6M)Calculated over the trailing 6-month period | 65.91% | 17.69% | +48.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 93.54% | 22.58% | +70.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 90.87% | 24.97% | +65.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 81.90% | 38.69% | +43.21% |
Dividends
FNMA vs. ESNT - Dividend Comparison
FNMA has not paid dividends to shareholders, while ESNT's dividend yield for the trailing twelve months is around 2.21%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
ESNT Essent Group Ltd. | 2.21% | 1.91% | 2.06% | 1.90% | 2.21% | 1.54% | 1.48% | 0.58% |
FNMA Federal National Mortgage Association | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials
FNMA vs. ESNT - Financials Comparison
This section allows you to compare key financial metrics between Federal National Mortgage Association and Essent Group Ltd.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
FNMA vs. ESNT - Profitability Comparison
FNMA - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Federal National Mortgage Association reported a gross profit of 0.00 and revenue of 40.22B. Therefore, the gross margin over that period was 0.0%.
ESNT - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Essent Group Ltd. reported a gross profit of 0.00 and revenue of 336.07M. Therefore, the gross margin over that period was 0.0%.
FNMA - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Federal National Mortgage Association reported an operating income of 0.00 and revenue of 40.22B, resulting in an operating margin of 0.0%.
ESNT - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Essent Group Ltd. reported an operating income of 0.00 and revenue of 336.07M, resulting in an operating margin of 0.0%.
FNMA - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Federal National Mortgage Association reported a net income of 5.61B and revenue of 40.22B, resulting in a net margin of 13.9%.
ESNT - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Essent Group Ltd. reported a net income of 171.80M and revenue of 336.07M, resulting in a net margin of 51.1%.
Frequently Asked Questions
FNMA and ESNT have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FNMA has higher volatility (17.76%) compared to ESNT (6.46%). In terms of maximum drawdown, FNMA dropped -99.74% vs ESNT's -64.72%.
ESNT currently has the higher Sharpe Ratio (0.00 vs -0.40), 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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