VFIJX vs. AMUSX

Last updated Jun 4, 2026

VFIJX (Vanguard GNMA Fund Admiral Shares) and AMUSX (American Funds U.S. Government Securities Fund) are both Government Bonds funds. Over the past 10 years, VFIJX returned 1.41%/yr vs 1.14%/yr for AMUSX. Their correlation of 0.84 suggests significant overlap in exposure. VFIJX charges 0.11%/yr vs 0.61%/yr for AMUSX.

Performance

VFIJX vs. AMUSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard GNMA Fund Admiral Shares (VFIJX) and American Funds U.S. Government Securities Fund (AMUSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VFIJX achieves a 0.83% return, which is significantly higher than AMUSX's -0.35% return. Over the past 10 years, VFIJX has outperformed AMUSX with an annualized return of 1.41%, while AMUSX has yielded a comparatively lower 1.14% annualized return.

VFIJX

• 1D: 0.00%
• 1M: 0.32%
• YTD: 0.83%
• 6M: 0.94%
• 1Y: 6.46%
• 3Y*: 4.35%
• 5Y*: 0.58%
• 10Y*: 1.41%

AMUSX

• 1D: 0.00%
• 1M: 0.28%
• YTD: -0.35%
• 6M: -0.26%
• 1Y: 4.29%
• 3Y*: 3.14%
• 5Y*: -0.13%
• 10Y*: 1.14%

*Multi-year figures are annualized to reflect compound growth (CAGR)

VFIJX vs. AMUSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VFIJX Vanguard GNMA Fund Admiral Shares	0.83%	7.84%	1.17%	5.28%	-10.72%	-1.15%	3.84%	5.94%	0.99%	1.98%
AMUSX American Funds U.S. Government Securities Fund	-0.35%	7.55%	0.63%	2.79%	-11.50%	-0.84%	9.44%	5.03%	0.64%	1.54%

Correlation

The correlation between VFIJX and AMUSX is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Feb 13, 2001	0.84

The correlation between VFIJX and AMUSX shifts across timeframes, from 0.84 (all time) to 0.95 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

VFIJX vs. AMUSX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VFIJX

VFIJX Risk / Return Rank: 34
VFIJX Sharpe Ratio Rank: 32
VFIJX Sortino Ratio Rank: 35
VFIJX Omega Ratio Rank: 32
VFIJX Calmar Ratio Rank: 40
VFIJX Martin Ratio Rank: 34

AMUSX

AMUSX Risk / Return Rank: 14
AMUSX Sharpe Ratio Rank: 14
AMUSX Sortino Ratio Rank: 15
AMUSX Omega Ratio Rank: 14
AMUSX Calmar Ratio Rank: 13
AMUSX Martin Ratio Rank: 14

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.

VFIJX vs. AMUSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard GNMA Fund Admiral Shares (VFIJX) and American Funds U.S. Government Securities Fund (AMUSX). 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.

	VFIJX	AMUSX	Difference
Sharpe ratio: Return per unit of total volatility	1.63	1.04	+0.59
Sortino ratio: Return per unit of downside risk	2.46	1.58	+0.88
Omega ratio: Gain probability vs. loss probability	1.30	1.19	+0.11
Calmar ratio: Return relative to maximum drawdown	2.39	1.26	+1.13
Martin ratio: Return relative to average drawdown	7.61	3.97	+3.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VFIJX vs. AMUSX - Sharpe Ratio Comparison

The current VFIJX Sharpe Ratio is 1.63, which is higher than the AMUSX Sharpe Ratio of 1.04. The chart below compares the historical Sharpe Ratios of VFIJX and AMUSX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VFIJX	AMUSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.63	1.04	+0.59
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.09	-0.02	+0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.30	0.24	+0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.82	0.83	-0.02

Drawdowns

VFIJX vs. AMUSX - Drawdown Comparison

The maximum VFIJX drawdown since its inception was -16.06%, smaller than the maximum AMUSX drawdown of -17.48%. Use the drawdown chart below to compare losses from any high point for VFIJX and AMUSX.

Drawdown Indicators

	VFIJX	AMUSX	Difference
Max Drawdown Largest peak-to-trough decline	-16.06%	-17.48%	+1.42%
Max Drawdown (1Y) Largest decline over 1 year	-2.71%	-3.35%	+0.64%
Max Drawdown (3Y) Largest decline over 3 years	-6.95%	-6.50%	-0.45%
Max Drawdown (5Y) Largest decline over 5 years	-15.68%	-16.84%	+1.16%
Max Drawdown (10Y) Largest decline over 10 years	-16.06%	-17.48%	+1.42%
Current Drawdown Current decline from peak	-1.35%	-3.24%	+1.89%
Average Drawdown Average peak-to-trough decline	-1.74%	-2.75%	+1.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.85%	1.06%	-0.21%

Volatility

VFIJX vs. AMUSX - Volatility Comparison

The current volatility for Vanguard GNMA Fund Admiral Shares (VFIJX) is 1.38%, while American Funds U.S. Government Securities Fund (AMUSX) has a volatility of 1.54%. This indicates that VFIJX experiences smaller price fluctuations and is considered to be less risky than AMUSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VFIJX	AMUSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.38%	1.54%	-0.16%
Volatility (6M) Calculated over the trailing 6-month period	2.84%	2.85%	-0.01%
Volatility (1Y) Calculated over the trailing 1-year period	3.98%	4.06%	-0.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.21%	6.06%	+0.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.70%	4.86%	-0.16%

VFIJX vs. AMUSX - Expense Ratio Comparison

VFIJX has a 0.11% expense ratio, which is lower than AMUSX's 0.61% expense ratio.

Dividends

VFIJX vs. AMUSX - Dividend Comparison

VFIJX's dividend yield for the trailing twelve months is around 3.78%, less than AMUSX's 4.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AMUSX American Funds U.S. Government Securities Fund	4.00%	3.97%	4.19%	3.44%	2.01%	1.05%	4.92%	2.79%	1.72%	1.32%	2.30%	2.84%
VFIJX Vanguard GNMA Fund Admiral Shares	3.78%	3.72%	3.67%	3.34%	2.45%	0.73%	1.98%	2.86%	3.00%	2.73%	3.11%	2.94%

Frequently Asked Questions

Can I hold both VFIJX and AMUSX in my portfolio?

With a correlation of 0.94, VFIJX and AMUSX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, VFIJX or AMUSX?

AMUSX has higher volatility (1.54%) compared to VFIJX (1.38%). In terms of maximum drawdown, VFIJX dropped -16.06% vs AMUSX's -17.48%.

Which has better risk-adjusted returns?

VFIJX currently has the higher Sharpe Ratio (1.63 vs 1.04), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.