GNMA vs. DEED
GNMA (iShares GNMA Bond ETF) and DEED (First Trust TCW Securitized Plus ETF) are both Mortgage Backed Securities funds. GNMA is passively managed, while DEED is actively managed. Over the past 5 years, GNMA returned 0.55%/yr vs 0.23%/yr for DEED. A 0.73 correlation means they provide meaningful diversification when combined. GNMA charges 0.15%/yr vs 0.65%/yr for DEED.
Performance
GNMA vs. DEED - Performance Comparison
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Returns By Period
In the year-to-date period, GNMA achieves a 0.67% return, which is significantly higher than DEED's 0.41% return.
GNMA
- 1D
- 0.11%
- 1M
- 0.08%
- YTD
- 0.67%
- 6M
- 1.08%
- 1Y
- 5.88%
- 3Y*
- 4.33%
- 5Y*
- 0.55%
- 10Y*
- 1.23%
DEED
- 1D
- 0.08%
- 1M
- 0.23%
- YTD
- 0.41%
- 6M
- 0.73%
- 1Y
- 6.05%
- 3Y*
- 4.96%
- 5Y*
- 0.23%
- 10Y*
- —
GNMA vs. DEED - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GNMA iShares GNMA Bond ETF | 0.67% | 8.25% | 1.07% | 5.34% | -10.83% | -1.86% | -0.03% |
DEED First Trust TCW Securitized Plus ETF | 0.41% | 8.91% | 3.19% | 6.43% | -16.03% | 1.62% | 4.71% |
Correlation
The correlation between GNMA and DEED is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.83 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since May 1, 2020 | 0.73 |
The correlation between GNMA and DEED shifts across timeframes, from 0.73 (all time) to 0.83 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
GNMA vs. DEED — Risk / Return Rank
GNMA
DEED
GNMA vs. DEED - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares GNMA Bond ETF (GNMA) and First Trust TCW Securitized Plus ETF (DEED). 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.
| GNMA | DEED | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.28 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.26 | 1.91 | +0.35 |
| Martin ratioReturn relative to average drawdown | 7.20 | 5.34 | +1.86 |
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
| GNMA | DEED | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.40 | 1.55 | -0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.08 | 0.04 | +0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.24 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | 0.20 | +0.05 |
Drawdowns
GNMA vs. DEED - Drawdown Comparison
The maximum GNMA drawdown since its inception was -17.09%, smaller than the maximum DEED drawdown of -19.96%. Use the drawdown chart below to compare losses from any high point for GNMA and DEED.
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Drawdown Indicators
| GNMA | DEED | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.09% | -19.96% | +2.87% |
Max Drawdown (1Y)Largest decline over 1 year | -2.61% | -3.18% | +0.57% |
Max Drawdown (3Y)Largest decline over 3 years | -7.13% | -8.50% | +1.37% |
Max Drawdown (5Y)Largest decline over 5 years | -15.83% | -19.96% | +4.13% |
Max Drawdown (10Y)Largest decline over 10 years | -17.09% | — | — |
Current DrawdownCurrent decline from peak | -1.30% | -1.96% | +0.66% |
Average DrawdownAverage peak-to-trough decline | -3.66% | -6.62% | +2.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.82% | 1.14% | -0.32% |
Volatility
GNMA vs. DEED - Volatility Comparison
iShares GNMA Bond ETF (GNMA) has a higher volatility of 1.54% compared to First Trust TCW Securitized Plus ETF (DEED) at 1.10%. This indicates that GNMA's price experiences larger fluctuations and is considered to be riskier than DEED based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GNMA | DEED | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.54% | 1.10% | +0.44% |
Volatility (6M)Calculated over the trailing 6-month period | 3.14% | 2.87% | +0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.29% | 3.94% | +0.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.61% | 6.54% | +0.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.13% | 5.97% | -0.84% |
GNMA vs. DEED - Expense Ratio Comparison
GNMA has a 0.15% expense ratio, which is lower than DEED's 0.65% expense ratio.
Dividends
GNMA vs. DEED - Dividend Comparison
GNMA's dividend yield for the trailing twelve months is around 4.23%, which matches DEED's 4.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DEED First Trust TCW Securitized Plus ETF | 4.27% | 4.10% | 5.73% | 5.59% | 2.43% | 1.93% | 1.60% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
GNMA iShares GNMA Bond ETF | 4.23% | 4.19% | 4.15% | 3.43% | 2.01% | 0.64% | 1.89% | 2.61% | 2.41% | 2.15% | 1.89% | 1.50% |
Frequently Asked Questions
GNMA and DEED have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GNMA has higher volatility (1.54%) compared to DEED (1.10%). In terms of maximum drawdown, GNMA dropped -17.09% vs DEED's -19.96%.
On 5-year performance, GNMA leads with 0.55% vs 0.23% for DEED. On fees, GNMA is cheaper at 0.15% per year. On volatility, DEED has been the lower-risk option at 1.10%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, GNMA has performed better with a 0.55% return vs 0.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GNMA is cheaper with a 0.15% expense ratio, compared with 0.65% for DEED.
DEED has the higher dividend yield at 4.27%, compared with 4.23% for GNMA.
They also come from different issuers: iShares and First Trust. Their fees differ too: 0.15% for GNMA and 0.65% for DEED.
DEED currently has the higher Sharpe Ratio (1.55 vs 1.40), 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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