GNMA vs LEO

Comparison between ISHARES GNMA BOND ETF (GNMA, ETF) and BNY Mellon Strategic Municipals Inc (LEO, ETF).

5-Year PerformanceGNMA has outperformed LEO, delivering a return of +0.6% compared to -2.1%

GNMA vs LEO - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	GNMA(ETF)	LEO(ETF)
Net Assets	$429M	$429M
Expense Ratio	0.10%	N/A
Max Drawdown	23.27%	54.53%
Sharpe Ratio	0.54	1.06
5Y Beta	0.04	0.17
5Y Dividends CAGR	18.02%	-6.91%

Net Assets

Winner

GNMA

$429M

LEO

$429M

Expense Ratio

GNMA

0.10%

LEO

N/A

Max Drawdown

Winner

GNMA

23.27%

LEO

54.53%

Sharpe Ratio

GNMA

0.54

Winner

LEO

1.06

5Y Beta

Winner

GNMA

0.04

LEO

0.17

5Y Dividends CAGR

Winner

GNMA

18.02%

LEO

-6.91%

GNMA vs LEO - Historical Returns

Returns include dividend reinvestment.

Period	GNMA	LEO
1 month	+1.18%	+3.21%
3 months	+0.43%	+2.25%
6 months	+1.04%	+3.78%
1 year	+5.94%	+16.23%
5 years(CAGR)	+0.61%	-2.12%
10 years(CAGR)	+1.20%	+1.15%
Max(CAGR)	+1.39%	+4.85%

GNMA

+1.18%

Winner

LEO

+3.21%

GNMA

+0.43%

Winner

LEO

+2.25%

GNMA

+1.04%

Winner

LEO

+3.78%

GNMA

+5.94%

Winner

LEO

+16.23%

5Y(CAGR)

Winner

GNMA

+0.61%

LEO

-2.12%

10Y(CAGR)

Winner

GNMA

+1.20%

LEO

+1.15%

Max(CAGR)

GNMA

+1.39%

Winner

LEO

+4.85%

GNMA vs LEO - Annual Returns (2001 - 2026)

Returns include dividend reinvestment.

Year	GNMA	LEO
2026	+1.23%	+2.97%
2025	+8.45%	+8.40%
2024	+1.71%	+6.40%
2023	+4.84%	-1.05%
2022	-10.46%	-23.74%
2021	-1.82%	+5.05%
2020	+3.43%	+4.86%
2019	+5.88%	+22.72%
2018	+0.79%	-12.42%
2017	+1.79%	+8.83%
2016	+0.96%	+3.50%
2015	+0.80%	+11.03%
2014	+6.51%	+15.50%
2013	-2.32%	-16.60%
2012	+1.55%	+14.70%
2011	N/A	+23.10%
2010	N/A	+3.15%
2009	N/A	+46.92%
2008	N/A	-27.48%
2007	N/A	-7.07%
2006	N/A	+13.96%
2005	N/A	+7.55%
2004	N/A	-7.35%
2003	N/A	+10.84%
2002	N/A	+6.78%
2001	N/A	+22.11%

GNMA vs LEO Drawdown Comparison

The maximum drawdown for GNMA was -17.09%, occurring on Oct 20, 2022. Recovery took 1416 trading sessions.

The maximum drawdown for LEO was -47.31%, occurring on Oct 10, 2008. Recovery took 671 trading sessions.

The current GNMA drawdown is -1.11%. The current LEO drawdown is -16.40%.

Rank	GNMA	LEO
#1	-17.09% Apr 8, 2020 - Nov 25, 2025	-47.31% May 7, 2007 - Jan 5, 2010
#2	-9.58% Aug 15, 2012 - Jan 20, 2016	-41.48% Aug 27, 2021 - Oct 25, 2023
#3	-3.06% Aug 10, 2016 - Sep 5, 2017	-30.28% Feb 25, 2020 - Feb 5, 2021
#4	-2.96% Sep 5, 2017 - Dec 28, 2018	-23.62% Jan 8, 2013 - Nov 3, 2015
#5	-2.61% Feb 27, 2026 - May 19, 2026	-21.68% Jan 21, 2004 - Sep 7, 2005
#6	-2.52% Mar 9, 2020 - Mar 24, 2020	-19.81% Sep 10, 2010 - Oct 12, 2011
#7	-1.33% Jun 15, 2012 - Jul 31, 2012	-17.32% Aug 1, 2017 - Jul 2, 2019
#8	-1.27% May 31, 2012 - Jun 15, 2012	-12.16% Jul 8, 2016 - Jul 11, 2017
#9	-1.25% Feb 11, 2016 - Jun 10, 2016	-11.77% Oct 1, 2002 - Apr 29, 2003
#10	-1.10% Aug 9, 2012 - Aug 15, 2012	-11.61% Jun 12, 2003 - Jan 7, 2004
#11	-1.05% Aug 2, 2012 - Aug 9, 2012	-9.85% Aug 28, 2001 - Dec 31, 2001
#12	-0.84% May 16, 2012 - May 31, 2012	-8.30% Sep 7, 2005 - Mar 29, 2006
#13	-0.84% Mar 13, 2012 - Mar 29, 2012	-6.69% Mar 12, 2012 - May 9, 2012
#14	-0.79% Nov 25, 2025 - Dec 31, 2025	-6.02% Nov 29, 2012 - Jan 8, 2013
#15	-0.72% Mar 28, 2019 - May 6, 2019	-5.98% Dec 31, 2001 - Apr 5, 2002

Correlation

Correlation between GNMA and LEO is 0.89 which considered as a strong positive correlation - the stocks tend to move together.

0.89

-101

Dividend Comparison (2001 - 2026)

GNMA vs LEO dividend yield comparison.

Year	GNMA	LEO
2026	1.74%	2.45%
2025	4.19%	4.03%
2024	4.15%	3.77%
2023	3.43%	4.37%
2022	2.01%	5.66%
2021	0.64%	4.84%
2020	1.89%	4.95%
2019	2.61%	4.94%
2018	2.41%	5.96%
2017	2.15%	5.97%
2016	1.89%	6.14%
2015	1.50%	6.04%
2014	1.22%	7.11%
2013	1.06%	7.74%
2012	1.29%	6.16%
2011	0.00%	6.61%
2010	0.00%	7.54%
2009	0.00%	6.32%
2008	0.00%	8.94%
2007	0.00%	6.13%
2006	0.00%	5.03%
2005	0.00%	6.51%
2004	0.00%	7.38%
2003	0.00%	7.32%
2002	0.00%	7.14%
2001	0.00%	5.74%