GNMA vs. TFI
Compare and contrast key facts about iShares GNMA Bond ETF (GNMA) and SPDR Nuveen Bloomberg Barclays Municipal Bond ETF (TFI).
GNMA and TFI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GNMA is a passively managed fund by iShares that tracks the performance of the Barclays Capital GNMA Index. It was launched on Feb 14, 2012. TFI is a passively managed fund by State Street that tracks the performance of the Bloomberg US Municipal Managed Money (1-25 Y). It was launched on Sep 11, 2007. Both GNMA and TFI are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: GNMA or TFI.
Key characteristics
| GNMA | TFI | |
|---|---|---|
| YTD Return | 1.79% | 0.34% |
| 1Y Return | 8.71% | 6.81% |
| 3Y Return (Ann) | -1.51% | -1.49% |
| 5Y Return (Ann) | -0.52% | 0.38% |
| 10Y Return (Ann) | 0.78% | 1.84% |
| Sharpe Ratio | 1.35 | 1.66 |
| Sortino Ratio | 1.96 | 2.44 |
| Omega Ratio | 1.24 | 1.33 |
| Calmar Ratio | 0.62 | 0.63 |
| Martin Ratio | 4.84 | 5.72 |
| Ulcer Index | 1.84% | 1.26% |
| Daily Std Dev | 6.64% | 4.35% |
| Max Drawdown | -17.09% | -15.49% |
| Current Drawdown | -6.73% | -5.46% |
Correlation
The correlation between GNMA and TFI is 0.40, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
GNMA vs. TFI - Performance Comparison
In the year-to-date period, GNMA achieves a 1.79% return, which is significantly higher than TFI's 0.34% return. Over the past 10 years, GNMA has underperformed TFI with an annualized return of 0.78%, while TFI has yielded a comparatively higher 1.84% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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GNMA vs. TFI - Expense Ratio Comparison
GNMA has a 0.15% expense ratio, which is lower than TFI's 0.23% 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%.
Risk-Adjusted Performance
GNMA vs. TFI - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares GNMA Bond ETF (GNMA) and SPDR Nuveen Bloomberg Barclays Municipal Bond ETF (TFI). 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.
Dividends
GNMA vs. TFI - Dividend Comparison
GNMA's dividend yield for the trailing twelve months is around 4.05%, more than TFI's 2.94% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GNMA iShares GNMA Bond ETF | 4.05% | 3.43% | 2.01% | 0.64% | 1.89% | 2.62% | 2.41% | 2.14% | 1.89% | 1.50% | 1.22% | 1.06% |
TFI SPDR Nuveen Bloomberg Barclays Municipal Bond ETF | 2.94% | 2.41% | 1.87% | 1.71% | 2.04% | 2.14% | 2.25% | 2.16% | 2.39% | 2.40% | 2.37% | 3.35% |
Drawdowns
GNMA vs. TFI - Drawdown Comparison
The maximum GNMA drawdown since its inception was -17.09%, which is greater than TFI's maximum drawdown of -15.49%. Use the drawdown chart below to compare losses from any high point for GNMA and TFI. For additional features, visit the drawdowns tool.
Volatility
GNMA vs. TFI - Volatility Comparison
The current volatility for iShares GNMA Bond ETF (GNMA) is 1.92%, while SPDR Nuveen Bloomberg Barclays Municipal Bond ETF (TFI) has a volatility of 2.15%. This indicates that GNMA experiences smaller price fluctuations and is considered to be less risky than TFI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.