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JMTG vs. GNMA
Performance
Return for Risk
Dividends
Drawdowns
Volatility

JMTG vs. GNMA

Last updated Apr 2, 2026

Compare and contrast key facts about JPMorgan Mortgage-Backed Securities ETF (JMTG) and iShares GNMA Bond ETF (GNMA).

JMTG and GNMA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. JMTG is an actively managed fund by JPMorgan. It was launched on Aug 18, 2000. 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.

Performance

JMTG vs. GNMA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Mortgage-Backed Securities ETF (JMTG) and iShares GNMA Bond ETF (GNMA). The values are adjusted to include any dividend payments, if applicable.

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JMTG vs. GNMA - Yearly Performance Comparison

2026 (YTD)2025
JMTG
JPMorgan Mortgage-Backed Securities ETF		0.60%3.90%
GNMA
iShares GNMA Bond ETF		0.45%3.89%

Returns By Period

In the year-to-date period, JMTG achieves a 0.60% return, which is significantly higher than GNMA's 0.45% return.

JMTG

1D
0.01%
1M
-1.21%
YTD
0.60%
6M
1.93%
1Y
—
3Y*
—
5Y*
—
10Y*
—

GNMA

1D
0.23%
1M
-1.26%
YTD
0.45%
6M
1.88%
1Y
5.35%
3Y*
4.05%
5Y*
0.45%
10Y*
1.27%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

JPMorgan Mortgage-Backed Securities ETF

iShares GNMA Bond ETF

Often compared with JMTG:
JMTG vs. SPMBJMTG vs. PMBSJMTG vs. MBBJMTG vs. CMBSJMTG vs. LMBSJMTG vs. EVMOJMTG vs. JMBS
Often compared with GNMA:
GNMA vs. TFIGNMA vs. FLIAGNMA vs. VMBSGNMA vs. BAGIXGNMA vs. VOOGNMA vs. SPMBGNMA vs. GOVT

JMTG vs. GNMA - Expense Ratio Comparison

JMTG has a 0.24% expense ratio, which is higher than GNMA's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

JMTG
JPMorgan Mortgage-Backed Securities ETF
GNMA
iShares GNMA Bond ETF

Return for Risk

JMTG vs. GNMA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
JMTG
GNMA
GNMA Risk / Return Rank: 5959
Overall Rank
GNMA Sharpe Ratio Rank: 6161
Sharpe Ratio Rank
GNMA Sortino Ratio Rank: 6161
Sortino Ratio Rank
GNMA Omega Ratio Rank: 5151
Omega Ratio Rank
GNMA Calmar Ratio Rank: 6969
Calmar Ratio Rank
GNMA Martin Ratio Rank: 5454
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

JMTG vs. GNMA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Mortgage-Backed Securities ETF (JMTG) and iShares GNMA Bond ETF (GNMA). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

JMTG vs. GNMA - Sharpe Ratio Comparison

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Sharpe Ratios by Period

JMTGGNMADifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

—

1.12

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.07

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.25

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.65

0.25

+1.40

Correlation

The correlation between JMTG and GNMA 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

JMTG vs. GNMA - Dividend Comparison

JMTG's dividend yield for the trailing twelve months is around 3.16%, less than GNMA's 4.21% yield.

TTM20252024202320222021202020192018201720162015
JMTG
JPMorgan Mortgage-Backed Securities ETF		3.16%2.10%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
GNMA
iShares GNMA Bond ETF		4.21%4.19%4.15%3.43%2.01%0.64%1.89%2.61%2.41%2.15%1.89%1.50%

Drawdowns

JMTG vs. GNMA - Drawdown Comparison

The maximum JMTG drawdown since its inception was -2.64%, smaller than the maximum GNMA drawdown of -17.09%. Use the drawdown chart below to compare losses from any high point for JMTG and GNMA.

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Drawdown Indicators

JMTGGNMADifference

Max Drawdown

Largest peak-to-trough decline

-2.64%

-17.09%

+14.45%

Max Drawdown (1Y)

Largest decline over 1 year

—

-2.93%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-16.02%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-17.09%

—

Current Drawdown

Current decline from peak

-1.65%

-1.52%

-0.13%

Average Drawdown

Average peak-to-trough decline

-0.46%

-3.69%

+3.23%

Ulcer Index

Depth and duration of drawdowns from previous peaks

—

0.99%

—

Volatility

JMTG vs. GNMA - Volatility Comparison

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Volatility by Period

JMTGGNMADifference

Volatility (1M)

Calculated over the trailing 1-month period

—

1.79%

—

Volatility (6M)

Calculated over the trailing 6-month period

—

2.76%

—

Volatility (1Y)

Calculated over the trailing 1-year period

3.67%

4.78%

-1.11%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

3.67%

6.56%

-2.89%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

3.67%

5.11%

-1.44%