PRGMX vs. FVIIX
Compare and contrast key facts about T. Rowe Price GNMA Fund (PRGMX) and Fidelity Advisor Government Income Fund Class I (FVIIX).
PRGMX is managed by T. Rowe Price. It was launched on Nov 25, 1985. FVIIX is managed by Fidelity. It was launched on Oct 24, 2006.
Performance
PRGMX vs. FVIIX - Performance Comparison
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PRGMX vs. FVIIX - 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% |
FVIIX Fidelity Advisor Government Income Fund Class I | -0.03% | 6.52% | 0.07% | 3.80% | -13.09% | -2.26% | 6.85% | 6.27% | 0.67% | 2.06% |
Returns By Period
In the year-to-date period, PRGMX achieves a 0.87% return, which is significantly higher than FVIIX's -0.03% return. Over the past 10 years, PRGMX has outperformed FVIIX with an annualized return of 1.40%, while FVIIX has yielded a comparatively lower 0.76% 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%
FVIIX
- 1D
- 0.11%
- 1M
- -1.50%
- YTD
- -0.03%
- 6M
- 0.65%
- 1Y
- 3.13%
- 3Y*
- 2.41%
- 5Y*
- -0.57%
- 10Y*
- 0.76%
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PRGMX vs. FVIIX - Expense Ratio Comparison
PRGMX has a 0.58% expense ratio, which is higher than FVIIX's 0.49% expense ratio.
Return for Risk
PRGMX vs. FVIIX — Risk / Return Rank
PRGMX
FVIIX
PRGMX vs. FVIIX - 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 I (FVIIX). 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 | FVIIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.77 | 0.82 | +0.95 |
Sortino ratioReturn per unit of downside risk | 2.53 | 1.20 | +1.34 |
Omega ratioGain probability vs. loss probability | 1.33 | 1.14 | +0.18 |
Calmar ratioReturn relative to maximum drawdown | 3.01 | 1.39 | +1.62 |
Martin ratioReturn relative to average drawdown | 8.77 | 3.75 | +5.02 |
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 | FVIIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.77 | 0.82 | +0.95 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.11 | -0.10 | +0.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.30 | 0.15 | +0.15 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.94 | 0.52 | +0.42 |
Correlation
The correlation between PRGMX and FVIIX is 0.82, 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. FVIIX - Dividend Comparison
PRGMX's dividend yield for the trailing twelve months is around 6.90%, more than FVIIX's 3.09% 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% |
FVIIX Fidelity Advisor Government Income Fund Class I | 3.09% | 3.33% | 3.18% | 2.29% | 1.09% | 0.58% | 2.35% | 2.07% | 2.02% | 1.75% | 2.64% | 2.21% |
Drawdowns
PRGMX vs. FVIIX - Drawdown Comparison
The maximum PRGMX drawdown since its inception was -18.22%, smaller than the maximum FVIIX drawdown of -20.08%. Use the drawdown chart below to compare losses from any high point for PRGMX and FVIIX.
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Drawdown Indicators
| PRGMX | FVIIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.22% | -20.08% | +1.86% |
Max Drawdown (1Y)Largest decline over 1 year | -2.93% | -2.86% | -0.07% |
Max Drawdown (5Y)Largest decline over 5 years | -17.70% | -18.13% | +0.43% |
Max Drawdown (10Y)Largest decline over 10 years | -18.22% | -20.08% | +1.86% |
Current DrawdownCurrent decline from peak | -1.91% | -7.50% | +5.59% |
Average DrawdownAverage peak-to-trough decline | -2.25% | -3.72% | +1.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.00% | 1.06% | -0.06% |
Volatility
PRGMX vs. FVIIX - Volatility Comparison
T. Rowe Price GNMA Fund (PRGMX) has a higher volatility of 1.74% compared to Fidelity Advisor Government Income Fund Class I (FVIIX) at 1.44%. This indicates that PRGMX's price experiences larger fluctuations and is considered to be riskier than FVIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRGMX | FVIIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.74% | 1.44% | +0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 2.76% | 2.51% | +0.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.77% | 4.28% | +0.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.33% | 6.05% | +0.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.73% | 5.02% | -0.29% |