FVIAX vs. PRGMX
Compare and contrast key facts about Fidelity Advisor Government Income Fund Class A (FVIAX) and T. Rowe Price GNMA Fund (PRGMX).
FVIAX is managed by Fidelity. It was launched on Oct 24, 2006. PRGMX is managed by T. Rowe Price. It was launched on Nov 25, 1985.
Performance
FVIAX vs. PRGMX - Performance Comparison
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FVIAX vs. PRGMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FVIAX Fidelity Advisor Government Income Fund Class A | -0.19% | 6.20% | -0.18% | 3.64% | -13.30% | -2.54% | 6.45% | 6.06% | 0.39% | 1.78% |
PRGMX T. Rowe Price GNMA Fund | 0.87% | 10.46% | 0.92% | 5.62% | -11.45% | -2.18% | 4.21% | 5.18% | 0.58% | 1.23% |
Returns By Period
In the year-to-date period, FVIAX achieves a -0.19% return, which is significantly lower than PRGMX's 0.87% return. Over the past 10 years, FVIAX has underperformed PRGMX with an annualized return of 0.48%, while PRGMX has yielded a comparatively higher 1.40% annualized return.
FVIAX
- 1D
- 0.00%
- 1M
- -1.60%
- YTD
- -0.19%
- 6M
- 0.41%
- 1Y
- 2.74%
- 3Y*
- 2.11%
- 5Y*
- -0.84%
- 10Y*
- 0.48%
PRGMX
- 1D
- 0.24%
- 1M
- -1.44%
- YTD
- 0.87%
- 6M
- 2.89%
- 1Y
- 7.97%
- 3Y*
- 4.79%
- 5Y*
- 0.72%
- 10Y*
- 1.40%
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FVIAX vs. PRGMX - Expense Ratio Comparison
FVIAX has a 0.77% expense ratio, which is higher than PRGMX's 0.58% expense ratio.
Return for Risk
FVIAX vs. PRGMX — Risk / Return Rank
FVIAX
PRGMX
FVIAX vs. PRGMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Government Income Fund Class A (FVIAX) and T. Rowe Price GNMA Fund (PRGMX). 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.
| FVIAX | PRGMX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.72 | 1.77 | -1.05 |
Sortino ratioReturn per unit of downside risk | 1.05 | 2.53 | -1.49 |
Omega ratioGain probability vs. loss probability | 1.13 | 1.33 | -0.20 |
Calmar ratioReturn relative to maximum drawdown | 1.24 | 3.01 | -1.78 |
Martin ratioReturn relative to average drawdown | 3.29 | 8.77 | -5.48 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FVIAX | PRGMX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.72 | 1.77 | -1.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.14 | 0.11 | -0.25 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.10 | 0.30 | -0.20 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.22 | 0.94 | -0.72 |
Correlation
The correlation between FVIAX and PRGMX is 0.80, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
FVIAX vs. PRGMX - Dividend Comparison
FVIAX's dividend yield for the trailing twelve months is around 2.82%, less than PRGMX's 6.90% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FVIAX Fidelity Advisor Government Income Fund Class A | 2.82% | 3.03% | 2.93% | 2.03% | 0.86% | 0.39% | 2.07% | 1.77% | 1.75% | 1.47% | 2.34% | 1.96% |
PRGMX T. Rowe Price GNMA Fund | 6.90% | 6.52% | 3.54% | 3.54% | 1.38% | 0.59% | 1.44% | 2.39% | 2.78% | 2.98% | 2.88% | 3.12% |
Drawdowns
FVIAX vs. PRGMX - Drawdown Comparison
The maximum FVIAX drawdown since its inception was -20.79%, which is greater than PRGMX's maximum drawdown of -18.22%. Use the drawdown chart below to compare losses from any high point for FVIAX and PRGMX.
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Drawdown Indicators
| FVIAX | PRGMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.79% | -18.22% | -2.57% |
Max Drawdown (1Y)Largest decline over 1 year | -2.88% | -2.93% | +0.05% |
Max Drawdown (5Y)Largest decline over 5 years | -18.57% | -17.70% | -0.87% |
Max Drawdown (10Y)Largest decline over 10 years | -20.66% | -18.22% | -2.44% |
Current DrawdownCurrent decline from peak | -8.86% | -1.91% | -6.95% |
Average DrawdownAverage peak-to-trough decline | -7.06% | -2.25% | -4.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.08% | 1.00% | +0.08% |
Volatility
FVIAX vs. PRGMX - Volatility Comparison
The current volatility for Fidelity Advisor Government Income Fund Class A (FVIAX) is 1.51%, while T. Rowe Price GNMA Fund (PRGMX) has a volatility of 1.74%. This indicates that FVIAX experiences smaller price fluctuations and is considered to be less risky than PRGMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FVIAX | PRGMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.51% | 1.74% | -0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 2.57% | 2.76% | -0.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.31% | 4.77% | -0.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.09% | 6.33% | -0.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.04% | 4.73% | +0.31% |