FNMA vs. FMCC
FNMA (Federal National Mortgage Association) and FMCC (Freddie Mac) 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 11.75%/yr for FMCC. Their correlation of 0.82 suggests significant overlap in exposure.
Performance
FNMA vs. FMCC - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with FNMA having a -42.59% return and FMCC slightly lower at -44.61%. Both investments have delivered pretty close results over the past 10 years, with FNMA having a 11.69% annualized return and FMCC not far ahead at 11.75%.
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%
FMCC
- 1D
- -4.31%
- 1M
- -12.37%
- YTD
- -44.61%
- 6M
- -44.77%
- 1Y
- -30.48%
- 3Y*
- 135.11%
- 5Y*
- 34.00%
- 10Y*
- 11.75%
FNMA vs. FMCC - 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% |
FMCC Freddie Mac | -44.61% | 210.52% | 284.18% | 140.59% | -57.43% | -64.38% | -22.33% | 183.02% | -57.94% | -32.62% |
Correlation
The correlation between FNMA and FMCC is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Mar 3, 1989 | 0.83 |
The correlation between FNMA and FMCC shifts across timeframes, from 0.82 (all time) to 0.94 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
FNMA:
$2.77
FMCC:
$4.74
FNMA:
2.22
FMCC:
1.19
FNMA:
0.00
FMCC:
0.00
FNMA:
0.23
FMCC:
0.14
FNMA:
$161.03B
FMCC:
$100.04B
FNMA:
$117.99B
FMCC:
$100.04B
FNMA:
$111.39B
FMCC:
$92.03B
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Return for Risk
FNMA vs. FMCC — Risk / Return Rank
FNMA
FMCC
FNMA vs. FMCC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Federal National Mortgage Association (FNMA) and Freddie Mac (FMCC). 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 | FMCC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.21 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.01 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.54 | -0.43 | -0.11 |
| Martin ratioReturn relative to average drawdown | -0.98 | -0.77 | -0.21 |
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Drawdowns
FNMA vs. FMCC - Drawdown Comparison
The maximum FNMA drawdown since its inception was -99.74%, roughly equal to the maximum FMCC drawdown of -99.81%. Use the drawdown chart below to compare losses from any high point for FNMA and FMCC.
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Drawdown Indicators
| FNMA | FMCC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.74% | -99.81% | +0.07% |
Max Drawdown (1Y)Largest decline over 1 year | -69.76% | -71.31% | +1.55% |
Max Drawdown (3Y)Largest decline over 3 years | -69.76% | -71.31% | +1.55% |
Max Drawdown (5Y)Largest decline over 5 years | -77.35% | -75.47% | -1.88% |
Max Drawdown (10Y)Largest decline over 10 years | -92.13% | -91.97% | -0.16% |
Current DrawdownCurrent decline from peak | -91.59% | -94.36% | +2.77% |
Average DrawdownAverage peak-to-trough decline | -46.20% | -68.89% | +22.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 38.61% | 39.53% | -0.92% |
Volatility
FNMA vs. FMCC - Volatility Comparison
Federal National Mortgage Association (FNMA) has a higher volatility of 17.76% compared to Freddie Mac (FMCC) at 15.36%. This indicates that FNMA's price experiences larger fluctuations and is considered to be riskier than FMCC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FNMA | FMCC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.76% | 15.36% | +2.40% |
Volatility (6M)Calculated over the trailing 6-month period | 65.91% | 65.62% | +0.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 93.54% | 92.88% | +0.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 90.87% | 85.13% | +5.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 81.90% | 78.79% | +3.11% |
Dividends
FNMA vs. FMCC - Dividend Comparison
Neither FNMA nor FMCC has paid dividends to shareholders.
Financials
FNMA vs. FMCC - Financials Comparison
This section allows you to compare key financial metrics between Federal National Mortgage Association and Freddie Mac. 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
Frequently Asked Questions
With a correlation of 0.94, FNMA and FMCC move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
FNMA has higher volatility (17.76%) compared to FMCC (15.36%). In terms of maximum drawdown, FNMA dropped -99.74% vs FMCC's -99.81%.
FMCC currently has the higher Sharpe Ratio (-0.33 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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