GNMA vs. JMTG
GNMA (iShares GNMA Bond ETF) and JMTG (JPMorgan Mortgage-Backed Securities ETF) are both Mortgage Backed Securities funds. GNMA is passively managed, while JMTG is actively managed. Their correlation of 0.81 suggests significant overlap in exposure. GNMA charges 0.15%/yr vs 0.24%/yr for JMTG.
Performance
GNMA vs. JMTG - 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 JMTG's 0.53% 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%
JMTG
- 1D
- 0.08%
- 1M
- -0.08%
- YTD
- 0.53%
- 6M
- 0.81%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GNMA vs. JMTG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GNMA iShares GNMA Bond ETF | 0.67% | 3.89% |
JMTG JPMorgan Mortgage-Backed Securities ETF | 0.53% | 3.90% |
Correlation
The correlation between GNMA and JMTG is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jul 1, 2025 | 0.81 |
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Return for Risk
GNMA vs. JMTG — Risk / Return Rank
GNMA
JMTG
GNMA vs. JMTG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares GNMA Bond ETF (GNMA) and JPMorgan Mortgage-Backed Securities ETF (JMTG). 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 | JMTG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.25 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.26 | — | — |
| Martin ratioReturn relative to average drawdown | 7.20 | — | — |
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 | JMTG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.40 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.08 | — | — |
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 | 1.31 | -1.06 |
Drawdowns
GNMA vs. JMTG - Drawdown Comparison
The maximum GNMA drawdown since its inception was -17.09%, which is greater than JMTG's maximum drawdown of -2.78%. Use the drawdown chart below to compare losses from any high point for GNMA and JMTG.
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Drawdown Indicators
| GNMA | JMTG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.09% | -2.78% | -14.31% |
Max Drawdown (1Y)Largest decline over 1 year | -2.61% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -7.13% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -15.83% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -17.09% | — | — |
Current DrawdownCurrent decline from peak | -1.30% | -1.72% | +0.42% |
Average DrawdownAverage peak-to-trough decline | -3.66% | -0.67% | -2.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.82% | — | — |
Volatility
GNMA vs. JMTG - Volatility Comparison
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Volatility by Period
| GNMA | JMTG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.54% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 3.14% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 4.29% | 3.67% | +0.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.61% | 3.67% | +2.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.13% | 3.67% | +1.46% |
GNMA vs. JMTG - Expense Ratio Comparison
GNMA has a 0.15% expense ratio, which is lower than JMTG's 0.24% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
GNMA vs. JMTG - Dividend Comparison
GNMA's dividend yield for the trailing twelve months is around 4.23%, more than JMTG's 3.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
JMTG JPMorgan Mortgage-Backed Securities ETF | 3.91% | 2.10% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GNMA and JMTG have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GNMA is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GNMA is cheaper with a 0.15% expense ratio, compared with 0.24% for JMTG.
GNMA has the higher dividend yield at 4.23%, compared with 3.91% for JMTG.
They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.15% for GNMA and 0.24% for JMTG.
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