FTGSX vs. GUSTX

Last updated Jun 4, 2026

FTGSX (Federated Hermes Total Return Government Bd Fd) and GUSTX (GMO U.S. Treasury Fund) are both Government Bonds funds. Over the past 10 years, FTGSX returned 0.52%/yr vs -13.74%/yr for GUSTX. At a 0.09 correlation, their price movements are largely independent. FTGSX charges 0.67%/yr vs 0.01%/yr for GUSTX.

Performance

FTGSX vs. GUSTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes Total Return Government Bd Fd (FTGSX) and GMO U.S. Treasury Fund (GUSTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTGSX achieves a -0.24% return, which is significantly lower than GUSTX's 1.46% return. Over the past 10 years, FTGSX has outperformed GUSTX with an annualized return of 0.52%, while GUSTX has yielded a comparatively lower -13.74% annualized return.

FTGSX

• 1D: 0.00%
• 1M: 0.32%
• YTD: -0.24%
• 6M: 0.07%
• 1Y: 4.48%
• 3Y*: 2.37%
• 5Y*: -1.05%
• 10Y*: 0.52%

GUSTX

• 1D: 0.00%
• 1M: 0.34%
• YTD: 1.46%
• 6M: 1.79%
• 1Y: 3.90%
• 3Y*: 3.18%
• 5Y*: 1.95%
• 10Y*: -13.74%

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

FTGSX vs. GUSTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FTGSX Federated Hermes Total Return Government Bd Fd	-0.24%	6.58%	-0.37%	2.92%	-13.06%	-3.22%	7.85%	6.07%	0.73%	2.15%
GUSTX GMO U.S. Treasury Fund	1.46%	4.45%	2.21%	2.52%	-0.73%	-0.06%	0.89%	0.14%	-79.59%	0.43%

Correlation

The correlation between FTGSX and GUSTX is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (5Y) Calculated over the trailing 5-year period	0.09
Correlation (10Y) Calculated over the trailing 10-year period	0.11
Correlation (All Time) Calculated using the full available price history since Jan 5, 2010	0.09

The correlation between FTGSX and GUSTX shifts across timeframes, from 0.09 (5 years) to 0.24 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

FTGSX vs. GUSTX — Risk / Return Rank

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

FTGSX

FTGSX Risk / Return Rank: 17
FTGSX Sharpe Ratio Rank: 16
FTGSX Sortino Ratio Rank: 17
FTGSX Omega Ratio Rank: 18
FTGSX Calmar Ratio Rank: 16
FTGSX Martin Ratio Rank: 17

GUSTX

GUSTX Risk / Return Rank: 99
GUSTX Sharpe Ratio Rank: 95
GUSTX Sortino Ratio Rank: 100
GUSTX Omega Ratio Rank: 100
GUSTX Calmar Ratio Rank: 100
GUSTX Martin Ratio Rank: 99

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.

FTGSX vs. GUSTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Total Return Government Bd Fd (FTGSX) and GMO U.S. Treasury Fund (GUSTX). 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.

	FTGSX	GUSTX	Difference
Sharpe ratio: Return per unit of total volatility	1.15	3.34	-2.19
Sortino ratio: Return per unit of downside risk	1.73	11.33	-9.60
Omega ratio: Gain probability vs. loss probability	1.23	7.41	-6.18
Calmar ratio: Return relative to maximum drawdown	1.43	20.36	-18.93
Martin ratio: Return relative to average drawdown	4.67	57.94	-53.27
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FTGSX vs. GUSTX - Sharpe Ratio Comparison

The current FTGSX Sharpe Ratio is 1.15, which is lower than the GUSTX Sharpe Ratio of 3.34. The chart below compares the historical Sharpe Ratios of FTGSX and GUSTX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FTGSX	GUSTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.15	3.34	-2.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.18	1.14	-1.31
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.10	-0.54	+0.65
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	-0.44	+1.15

Drawdowns

FTGSX vs. GUSTX - Drawdown Comparison

The maximum FTGSX drawdown since its inception was -21.36%, smaller than the maximum GUSTX drawdown of -79.98%. Use the drawdown chart below to compare losses from any high point for FTGSX and GUSTX.

Drawdown Indicators

	FTGSX	GUSTX	Difference
Max Drawdown Largest peak-to-trough decline	-21.36%	-79.98%	+58.62%
Max Drawdown (1Y) Largest decline over 1 year	-3.14%	-0.20%	-2.94%
Max Drawdown (3Y) Largest decline over 3 years	-6.79%	-1.19%	-5.60%
Max Drawdown (5Y) Largest decline over 5 years	-18.96%	-1.19%	-17.77%
Max Drawdown (10Y) Largest decline over 10 years	-21.36%	-79.98%	+58.62%
Current Drawdown Current decline from peak	-9.66%	-77.68%	+68.02%
Average Drawdown Average peak-to-trough decline	-3.51%	-36.04%	+32.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.96%	0.07%	+0.89%

Volatility

FTGSX vs. GUSTX - Volatility Comparison

Federated Hermes Total Return Government Bd Fd (FTGSX) has a higher volatility of 1.41% compared to GMO U.S. Treasury Fund (GUSTX) at 0.34%. This indicates that FTGSX's price experiences larger fluctuations and is considered to be riskier than GUSTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTGSX	GUSTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.41%	0.34%	+1.07%
Volatility (6M) Calculated over the trailing 6-month period	2.71%	0.87%	+1.84%
Volatility (1Y) Calculated over the trailing 1-year period	3.92%	1.22%	+2.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.94%	1.75%	+4.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.00%	25.45%	-20.45%

FTGSX vs. GUSTX - Expense Ratio Comparison

FTGSX has a 0.67% expense ratio, which is higher than GUSTX's 0.01% expense ratio.

Dividends

FTGSX vs. GUSTX - Dividend Comparison

FTGSX's dividend yield for the trailing twelve months is around 3.89%, more than GUSTX's 3.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTGSX Federated Hermes Total Return Government Bd Fd	3.89%	3.89%	3.38%	2.75%	1.54%	0.92%	1.39%	2.17%	1.92%	2.04%	2.11%	2.71%
GUSTX GMO U.S. Treasury Fund	3.82%	4.15%	1.98%	2.28%	0.26%	0.14%	0.09%	0.14%	8.96%	0.50%	0.05%	0.04%

Frequently Asked Questions

Can I hold both FTGSX and GUSTX in my portfolio?

FTGSX and GUSTX have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FTGSX or GUSTX?

FTGSX has higher volatility (1.41%) compared to GUSTX (0.34%). In terms of maximum drawdown, FTGSX dropped -21.36% vs GUSTX's -79.98%.

Which has better risk-adjusted returns?

GUSTX currently has the higher Sharpe Ratio (3.34 vs 1.15), 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.