GNMA vs. VETZ
GNMA (iShares GNMA Bond ETF) and VETZ (Academy Veteran Bond ETF) are both Mortgage Backed Securities funds. GNMA is passively managed, while VETZ is actively managed. Over the past year, GNMA returned 5.74% vs 5.89% for VETZ. A 0.77 correlation means they provide meaningful diversification when combined. GNMA charges 0.15%/yr vs 0.35%/yr for VETZ.
Performance
GNMA vs. VETZ - Performance Comparison
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Returns By Period
In the year-to-date period, GNMA achieves a 1.44% return, which is significantly lower than VETZ's 1.62% return.
GNMA
- 1D
- 0.12%
- 1M
- 0.97%
- YTD
- 1.44%
- 6M
- 1.55%
- 1Y
- 5.74%
- 3Y*
- 4.36%
- 5Y*
- 0.75%
- 10Y*
- 1.23%
VETZ
- 1D
- 0.05%
- 1M
- 1.25%
- YTD
- 1.62%
- 6M
- 1.71%
- 1Y
- 5.89%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GNMA vs. VETZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
GNMA iShares GNMA Bond ETF | 1.44% | 8.25% | 1.07% | 3.92% |
VETZ Academy Veteran Bond ETF | 1.62% | 8.02% | 2.22% | 3.84% |
Correlation
The correlation between GNMA and VETZ is 0.70, 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 | 0.70 |
Correlation (All Time) Calculated using the full available price history since Aug 2, 2023 | 0.77 |
The correlation between GNMA and VETZ has been stable across timeframes, ranging from 0.70 to 0.77 - a consistent structural relationship.
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Return for Risk
GNMA vs. VETZ — Risk / Return Rank
GNMA
VETZ
GNMA vs. VETZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares GNMA Bond ETF (GNMA) and Academy Veteran Bond ETF (VETZ). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| GNMA | VETZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.10 | ||
| Sortino ratioReturn per unit of downside risk | +0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.22 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.20 | 2.16 | +0.04 |
| Martin ratioReturn relative to average drawdown | 6.60 | 7.13 | -0.53 |
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Drawdowns
GNMA vs. VETZ - Drawdown Comparison
The maximum GNMA drawdown since its inception was -17.09%, which is greater than VETZ's maximum drawdown of -5.16%. Use the drawdown chart below to compare losses from any high point for GNMA and VETZ.
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Drawdown Indicators
| GNMA | VETZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.09% | -5.16% | -11.93% |
Max Drawdown (1Y)Largest decline over 1 year | -2.61% | -2.73% | +0.12% |
Max Drawdown (3Y)Largest decline over 3 years | -7.12% | — | — |
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 | -0.54% | -0.41% | -0.13% |
Average DrawdownAverage peak-to-trough decline | -3.65% | -1.30% | -2.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.87% | 0.83% | +0.04% |
Volatility
GNMA vs. VETZ - Volatility Comparison
iShares GNMA Bond ETF (GNMA) has a higher volatility of 1.32% compared to Academy Veteran Bond ETF (VETZ) at 1.25%. This indicates that GNMA's price experiences larger fluctuations and is considered to be riskier than VETZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GNMA | VETZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.32% | 1.25% | +0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 3.29% | 3.32% | -0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.26% | 4.73% | -0.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.63% | 6.12% | +0.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.14% | 6.12% | -0.98% |
GNMA vs. VETZ - Expense Ratio Comparison
GNMA has a 0.15% expense ratio, which is lower than VETZ's 0.35% expense ratio.
Dividends
GNMA vs. VETZ - Dividend Comparison
GNMA's dividend yield for the trailing twelve months is around 4.20%, less than VETZ's 6.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GNMA iShares GNMA Bond ETF | 4.20% | 4.19% | 4.15% | 3.43% | 2.01% | 0.64% | 1.89% | 2.61% | 2.41% | 2.15% | 1.89% | 1.50% |
VETZ Academy Veteran Bond ETF | 6.10% | 6.14% | 5.89% | 1.88% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GNMA and VETZ have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GNMA has higher volatility (1.32%) compared to VETZ (1.25%). In terms of maximum drawdown, GNMA dropped -17.09% vs VETZ's -5.16%.
On 1-year performance, VETZ leads with 5.89% vs 5.74% for GNMA. On fees, GNMA is cheaper at 0.15% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, VETZ has performed better with a 5.89% return vs 5.74%. 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 0.35% for VETZ.
VETZ has the higher dividend yield at 6.10%, compared with 4.20% for GNMA.
They also come from different issuers: iShares and Academy. Their fees differ too: 0.15% for GNMA and 0.35% for VETZ.
GNMA currently has the higher Sharpe Ratio (1.35 vs 1.25), 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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