RFBAX vs. FGMNX
Compare and contrast key facts about Davis Government Bond Fund (RFBAX) and Fidelity GNMA Fund (FGMNX).
RFBAX is managed by Davis Funds. It was launched on Nov 30, 1994. FGMNX is managed by Fidelity. It was launched on Nov 8, 1985.
Performance
RFBAX vs. FGMNX - Performance Comparison
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RFBAX vs. FGMNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RFBAX Davis Government Bond Fund | 0.51% | 4.49% | 4.33% | 3.63% | -5.29% | -1.48% | 1.69% | 3.23% | 0.42% | 0.21% |
FGMNX Fidelity GNMA Fund | 0.46% | 7.89% | 0.43% | 5.46% | -11.52% | -1.03% | 3.74% | 5.72% | 0.62% | 1.74% |
Returns By Period
In the year-to-date period, RFBAX achieves a 0.51% return, which is significantly higher than FGMNX's 0.46% return. Over the past 10 years, RFBAX has underperformed FGMNX with an annualized return of 1.05%, while FGMNX has yielded a comparatively higher 1.22% annualized return.
RFBAX
- 1D
- 0.19%
- 1M
- -0.39%
- YTD
- 0.51%
- 6M
- 1.06%
- 1Y
- 3.21%
- 3Y*
- 3.91%
- 5Y*
- 1.25%
- 10Y*
- 1.05%
FGMNX
- 1D
- 0.19%
- 1M
- -1.33%
- YTD
- 0.46%
- 6M
- 1.56%
- 1Y
- 4.70%
- 3Y*
- 3.76%
- 5Y*
- 0.19%
- 10Y*
- 1.22%
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RFBAX vs. FGMNX - Expense Ratio Comparison
RFBAX has a 1.00% expense ratio, which is higher than FGMNX's 0.45% expense ratio.
Return for Risk
RFBAX vs. FGMNX — Risk / Return Rank
RFBAX
FGMNX
RFBAX vs. FGMNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Davis Government Bond Fund (RFBAX) and Fidelity GNMA Fund (FGMNX). 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.
| RFBAX | FGMNX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.71 | 1.17 | +0.54 |
Sortino ratioReturn per unit of downside risk | 2.74 | 1.69 | +1.05 |
Omega ratioGain probability vs. loss probability | 1.46 | 1.21 | +0.24 |
Calmar ratioReturn relative to maximum drawdown | 4.77 | 1.94 | +2.83 |
Martin ratioReturn relative to average drawdown | 16.11 | 5.55 | +10.56 |
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
| RFBAX | FGMNX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.71 | 1.17 | +0.54 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.61 | 0.03 | +0.58 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.59 | 0.26 | +0.33 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.05 | 1.04 | +0.01 |
Correlation
The correlation between RFBAX and FGMNX is 0.61, 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.
Dividends
RFBAX vs. FGMNX - Dividend Comparison
RFBAX's dividend yield for the trailing twelve months is around 2.77%, less than FGMNX's 3.30% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RFBAX Davis Government Bond Fund | 2.77% | 3.01% | 3.23% | 2.15% | 0.80% | 0.57% | 0.93% | 1.67% | 1.17% | 0.59% | 0.68% | 0.75% |
FGMNX Fidelity GNMA Fund | 3.30% | 3.61% | 3.23% | 3.45% | 1.68% | 0.76% | 1.61% | 2.46% | 2.19% | 2.17% | 2.61% | 2.25% |
Drawdowns
RFBAX vs. FGMNX - Drawdown Comparison
The maximum RFBAX drawdown since its inception was -8.03%, smaller than the maximum FGMNX drawdown of -16.84%. Use the drawdown chart below to compare losses from any high point for RFBAX and FGMNX.
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Drawdown Indicators
| RFBAX | FGMNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.03% | -16.84% | +8.81% |
Max Drawdown (1Y)Largest decline over 1 year | -0.77% | -2.91% | +2.14% |
Max Drawdown (5Y)Largest decline over 5 years | -7.61% | -16.62% | +9.01% |
Max Drawdown (10Y)Largest decline over 10 years | -8.03% | -16.84% | +8.81% |
Current DrawdownCurrent decline from peak | -0.39% | -1.71% | +1.32% |
Average DrawdownAverage peak-to-trough decline | -1.19% | -1.91% | +0.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.23% | 1.02% | -0.79% |
Volatility
RFBAX vs. FGMNX - Volatility Comparison
The current volatility for Davis Government Bond Fund (RFBAX) is 0.48%, while Fidelity GNMA Fund (FGMNX) has a volatility of 1.50%. This indicates that RFBAX experiences smaller price fluctuations and is considered to be less risky than FGMNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RFBAX | FGMNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.48% | 1.50% | -1.02% |
Volatility (6M)Calculated over the trailing 6-month period | 1.21% | 2.49% | -1.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.94% | 4.41% | -2.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.06% | 6.21% | -4.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.78% | 4.65% | -2.87% |