PRGMX vs. FVIAX
Compare and contrast key facts about T. Rowe Price GNMA Fund (PRGMX) and Fidelity Advisor Government Income Fund Class A (FVIAX).
PRGMX is managed by T. Rowe Price. It was launched on Nov 25, 1985. FVIAX is managed by Fidelity. It was launched on Oct 24, 2006.
Performance
PRGMX vs. FVIAX - Performance Comparison
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PRGMX vs. FVIAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PRGMX T. Rowe Price GNMA Fund | 0.87% | 10.46% | 0.92% | 5.62% | -11.45% | -2.18% | 4.21% | 5.18% | 0.58% | 1.23% |
FVIAX Fidelity Advisor Government Income Fund Class A | -0.19% | 6.20% | -0.18% | 3.64% | -13.30% | -2.54% | 6.45% | 6.06% | 0.39% | 1.78% |
Returns By Period
In the year-to-date period, PRGMX achieves a 0.87% return, which is significantly higher than FVIAX's -0.19% return. Over the past 10 years, PRGMX has outperformed FVIAX with an annualized return of 1.40%, while FVIAX has yielded a comparatively lower 0.48% annualized return.
PRGMX
- 1D
- 0.24%
- 1M
- -1.44%
- YTD
- 0.87%
- 6M
- 2.89%
- 1Y
- 7.97%
- 3Y*
- 4.79%
- 5Y*
- 0.72%
- 10Y*
- 1.40%
FVIAX
- 1D
- 0.00%
- 1M
- -1.60%
- YTD
- -0.19%
- 6M
- 0.41%
- 1Y
- 2.74%
- 3Y*
- 2.11%
- 5Y*
- -0.84%
- 10Y*
- 0.48%
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PRGMX vs. FVIAX - Expense Ratio Comparison
PRGMX has a 0.58% expense ratio, which is lower than FVIAX's 0.77% expense ratio.
Return for Risk
PRGMX vs. FVIAX — Risk / Return Rank
PRGMX
FVIAX
PRGMX vs. FVIAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price GNMA Fund (PRGMX) and Fidelity Advisor Government Income Fund Class A (FVIAX). 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.
| PRGMX | FVIAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.77 | 0.72 | +1.05 |
Sortino ratioReturn per unit of downside risk | 2.53 | 1.05 | +1.49 |
Omega ratioGain probability vs. loss probability | 1.33 | 1.13 | +0.20 |
Calmar ratioReturn relative to maximum drawdown | 3.01 | 1.24 | +1.78 |
Martin ratioReturn relative to average drawdown | 8.77 | 3.29 | +5.48 |
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
| PRGMX | FVIAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.77 | 0.72 | +1.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.11 | -0.14 | +0.25 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.30 | 0.10 | +0.20 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.94 | 0.22 | +0.72 |
Correlation
The correlation between PRGMX and FVIAX 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
PRGMX vs. FVIAX - Dividend Comparison
PRGMX's dividend yield for the trailing twelve months is around 6.90%, more than FVIAX's 2.82% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRGMX T. Rowe Price GNMA Fund | 6.90% | 6.52% | 3.54% | 3.54% | 1.38% | 0.59% | 1.44% | 2.39% | 2.78% | 2.98% | 2.88% | 3.12% |
FVIAX Fidelity Advisor Government Income Fund Class A | 2.82% | 3.03% | 2.93% | 2.03% | 0.86% | 0.39% | 2.07% | 1.77% | 1.75% | 1.47% | 2.34% | 1.96% |
Drawdowns
PRGMX vs. FVIAX - Drawdown Comparison
The maximum PRGMX drawdown since its inception was -18.22%, smaller than the maximum FVIAX drawdown of -20.79%. Use the drawdown chart below to compare losses from any high point for PRGMX and FVIAX.
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Drawdown Indicators
| PRGMX | FVIAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.22% | -20.79% | +2.57% |
Max Drawdown (1Y)Largest decline over 1 year | -2.93% | -2.88% | -0.05% |
Max Drawdown (5Y)Largest decline over 5 years | -17.70% | -18.57% | +0.87% |
Max Drawdown (10Y)Largest decline over 10 years | -18.22% | -20.66% | +2.44% |
Current DrawdownCurrent decline from peak | -1.91% | -8.86% | +6.95% |
Average DrawdownAverage peak-to-trough decline | -2.25% | -7.06% | +4.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.00% | 1.08% | -0.08% |
Volatility
PRGMX vs. FVIAX - Volatility Comparison
T. Rowe Price GNMA Fund (PRGMX) has a higher volatility of 1.74% compared to Fidelity Advisor Government Income Fund Class A (FVIAX) at 1.51%. This indicates that PRGMX's price experiences larger fluctuations and is considered to be riskier than FVIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRGMX | FVIAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.74% | 1.51% | +0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 2.76% | 2.57% | +0.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.77% | 4.31% | +0.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.33% | 6.09% | +0.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.73% | 5.04% | -0.31% |