TFI vs. GNMA
Compare and contrast key facts about SPDR Nuveen Bloomberg Barclays Municipal Bond ETF (TFI) and iShares GNMA Bond ETF (GNMA).
TFI and GNMA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TFI is a passively managed fund by State Street that tracks the performance of the Bloomberg US Municipal Managed Money (1-25 Y). It was launched on Sep 11, 2007. 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. Both TFI and GNMA are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: TFI or GNMA.
Key characteristics
| TFI | GNMA | |
|---|---|---|
| YTD Return | 0.07% | 1.43% |
| 1Y Return | 5.37% | 6.85% |
| 3Y Return (Ann) | -1.58% | -1.62% |
| 5Y Return (Ann) | 0.31% | -0.62% |
| 10Y Return (Ann) | 1.81% | 0.75% |
| Sharpe Ratio | 1.44 | 1.27 |
| Sortino Ratio | 2.11 | 1.85 |
| Omega Ratio | 1.28 | 1.22 |
| Calmar Ratio | 0.58 | 0.62 |
| Martin Ratio | 4.91 | 4.51 |
| Ulcer Index | 1.27% | 1.87% |
| Daily Std Dev | 4.34% | 6.65% |
| Max Drawdown | -15.49% | -17.09% |
| Current Drawdown | -5.71% | -7.05% |
Correlation
The correlation between TFI and GNMA is 0.40, 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.
Performance
TFI vs. GNMA - Performance Comparison
In the year-to-date period, TFI achieves a 0.07% return, which is significantly lower than GNMA's 1.43% return. Over the past 10 years, TFI has outperformed GNMA with an annualized return of 1.81%, while GNMA has yielded a comparatively lower 0.75% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
TFI vs. GNMA - Expense Ratio Comparison
TFI has a 0.23% 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%.
Risk-Adjusted Performance
TFI vs. GNMA - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Nuveen Bloomberg Barclays Municipal Bond ETF (TFI) 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.
Dividends
TFI vs. GNMA - Dividend Comparison
TFI's dividend yield for the trailing twelve months is around 2.95%, less than GNMA's 4.06% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TFI SPDR Nuveen Bloomberg Barclays Municipal Bond ETF | 2.95% | 2.41% | 1.87% | 1.71% | 2.04% | 2.14% | 2.25% | 2.16% | 2.39% | 2.40% | 2.37% | 3.35% |
GNMA iShares GNMA Bond ETF | 4.06% | 3.43% | 2.01% | 0.64% | 1.89% | 2.62% | 2.41% | 2.14% | 1.89% | 1.50% | 1.22% | 1.06% |
Drawdowns
TFI vs. GNMA - Drawdown Comparison
The maximum TFI drawdown since its inception was -15.49%, smaller than the maximum GNMA drawdown of -17.09%. Use the drawdown chart below to compare losses from any high point for TFI and GNMA. For additional features, visit the drawdowns tool.
Volatility
TFI vs. GNMA - Volatility Comparison
SPDR Nuveen Bloomberg Barclays Municipal Bond ETF (TFI) has a higher volatility of 2.12% compared to iShares GNMA Bond ETF (GNMA) at 1.90%. This indicates that TFI's price experiences larger fluctuations and is considered to be riskier than GNMA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.