VWTAX vs. FMY

Last updated Jun 3, 2026

VWTAX (Tomorrow's Scholar College Savings Plan - ING GNMA Income Fund) and FMY (First Trust Mortgage Income Fund) are both Mortgage Backed Securities funds. Over the past 3 years, VWTAX returned 3.25%/yr vs 8.50%/yr for FMY. At a 0.12 correlation, their price movements are largely independent.

Performance

VWTAX vs. FMY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tomorrow's Scholar College Savings Plan - ING GNMA Income Fund (VWTAX) and First Trust Mortgage Income Fund (FMY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VWTAX achieves a 0.46% return, which is significantly higher than FMY's -2.66% return.

VWTAX

• 1D: -0.09%
• 1M: -0.18%
• YTD: 0.46%
• 6M: 0.28%
• 1Y: 5.05%
• 3Y*: 3.25%
• 5Y*: —
• 10Y*: —

FMY

• 1D: -0.17%
• 1M: -2.74%
• YTD: -2.66%
• 6M: -1.12%
• 1Y: 2.10%
• 3Y*: 8.50%
• 5Y*: 3.23%
• 10Y*: 3.83%

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

VWTAX vs. FMY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
VWTAX Tomorrow's Scholar College Savings Plan - ING GNMA Income Fund	0.46%	6.42%	0.70%	3.93%	-9.46%
FMY First Trust Mortgage Income Fund	-2.66%	8.63%	7.04%	16.08%	-8.10%

Correlation

The correlation between VWTAX and FMY is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (All Time) Calculated using the full available price history since Mar 9, 2022	0.12

Return for Risk

VWTAX vs. FMY — Risk / Return Rank

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

VWTAX

VWTAX Risk / Return Rank: 23
VWTAX Sharpe Ratio Rank: 24
VWTAX Sortino Ratio Rank: 26
VWTAX Omega Ratio Rank: 24
VWTAX Calmar Ratio Rank: 20
VWTAX Martin Ratio Rank: 21

FMY

FMY Risk / Return Rank: 4
FMY Sharpe Ratio Rank: 4
FMY Sortino Ratio Rank: 4
FMY Omega Ratio Rank: 4
FMY Calmar Ratio Rank: 4
FMY Martin Ratio Rank: 5

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.

VWTAX vs. FMY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tomorrow's Scholar College Savings Plan - ING GNMA Income Fund (VWTAX) and First Trust Mortgage Income Fund (FMY). 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.

	VWTAX	FMY	Difference
Sharpe ratio Return per unit of total volatility	1.40	0.23	+1.17
Sortino ratio Return per unit of downside risk	2.11	0.38	+1.73
Omega ratio Gain probability vs. loss probability	1.25	1.05	+0.21
Calmar ratio Return relative to maximum drawdown	1.66	0.38	+1.27
Martin ratio Return relative to average drawdown	5.61	1.33	+4.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VWTAX vs. FMY - Sharpe Ratio Comparison

The current VWTAX Sharpe Ratio is 1.40, which is higher than the FMY Sharpe Ratio of 0.23. The chart below compares the historical Sharpe Ratios of VWTAX and FMY, 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

	VWTAX	FMY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.40	0.23	+1.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.25	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.33	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.05	0.31	-0.26

Drawdowns

VWTAX vs. FMY - Drawdown Comparison

The maximum VWTAX drawdown since its inception was -14.14%, smaller than the maximum FMY drawdown of -27.98%. Use the drawdown chart below to compare losses from any high point for VWTAX and FMY.

Drawdown Indicators

	VWTAX	FMY	Difference
Max Drawdown Largest peak-to-trough decline	-14.14%	-27.98%	+13.84%
Max Drawdown (1Y) Largest decline over 1 year	-2.55%	-7.13%	+4.58%
Max Drawdown (3Y) Largest decline over 3 years	-7.19%	-7.13%	-0.06%
Max Drawdown (5Y) Largest decline over 5 years	—	-19.94%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-19.94%	—
Current Drawdown Current decline from peak	-1.28%	-4.67%	+3.39%
Average Drawdown Average peak-to-trough decline	-5.37%	-6.81%	+1.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.76%	2.06%	-1.30%

Volatility

VWTAX vs. FMY - Volatility Comparison

The current volatility for Tomorrow's Scholar College Savings Plan - ING GNMA Income Fund (VWTAX) is 1.35%, while First Trust Mortgage Income Fund (FMY) has a volatility of 2.95%. This indicates that VWTAX experiences smaller price fluctuations and is considered to be less risky than FMY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VWTAX	FMY	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.35%	2.95%	-1.60%
Volatility (6M) Calculated over the trailing 6-month period	2.60%	7.28%	-4.68%
Volatility (1Y) Calculated over the trailing 1-year period	3.79%	9.24%	-5.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.38%	13.08%	-6.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.38%	11.77%	-5.39%

Dividends

VWTAX vs. FMY - Dividend Comparison

VWTAX has not paid dividends to shareholders, while FMY's dividend yield for the trailing twelve months is around 6.91%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FMY First Trust Mortgage Income Fund	6.91%	6.91%	7.95%	6.64%	5.89%	5.21%	5.18%	5.14%	5.66%	5.45%	6.17%	6.43%
VWTAX Tomorrow's Scholar College Savings Plan - ING GNMA Income Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VWTAX and FMY in my portfolio?

VWTAX and FMY have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VWTAX or FMY?

FMY has higher volatility (2.95%) compared to VWTAX (1.35%). In terms of maximum drawdown, VWTAX dropped -14.14% vs FMY's -27.98%.

Which has better risk-adjusted returns?

VWTAX currently has the higher Sharpe Ratio (1.40 vs 0.23), 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.