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GNMA vs SPY

Comparison between ISHARES GNMA BOND ETF (GNMA, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed GNMA, delivering a return of +13.0% compared to +0.5%

GNMA vs SPY - Performance Comparison

Key Characteristics

Financial metrics and valuation ratios

Net Assets
GNMA
$429M
Winner
SPY
$781B
Expense Ratio
GNMA
0.10%
Winner
SPY
0.09%
Max Drawdown
Winner
GNMA
23.27%
SPY
56.47%
Sharpe Ratio
GNMA
0.35
Winner
SPY
1.25
5Y Beta
Winner
GNMA
0.04
SPY
1.00
P/E Ratio
GNMA
N/A
SPY
28.78
Forward P/E
GNMA
N/A
SPY
21.23
5Y Dividends CAGR
Winner
GNMA
20.40%
SPY
6.00%
5Y EPS CAGR
GNMA
N/A
SPY
25.62%
Debt to Equity
GNMA
N/A
SPY
31.92%
P/S Ratio
GNMA
N/A
SPY
3.76
P/B Ratio
GNMA
N/A
SPY
5.64

GNMA vs SPY - Historical Returns

Returns include dividend reinvestment.

1M
GNMA
-0.48%
Winner
SPY
+0.52%
3M
GNMA
-0.74%
Winner
SPY
+6.55%
6M
GNMA
+0.04%
Winner
SPY
+9.76%
1Y
GNMA
+4.72%
Winner
SPY
+20.32%
5Y(CAGR)
GNMA
+0.47%
Winner
SPY
+13.01%
10Y(CAGR)
GNMA
+1.11%
Winner
SPY
+15.06%
Max(CAGR)
GNMA
+1.33%
Winner
SPY
+8.50%

GNMA vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

YearGNMASPY
2026+0.60%+10.11%
2025+8.45%+18.00%
2024+1.71%+25.59%
2023+4.84%+26.72%
2022-10.46%-18.64%
2021-1.82%+30.52%
2020+3.43%+17.28%
2019+5.88%+31.09%
2018+0.79%-5.24%
2017+1.79%+20.78%
2016+0.96%+13.59%
2015+0.80%+1.31%
2014+6.51%+14.56%
2013-2.32%+29.00%
2012+1.55%+14.17%
2011N/A+0.85%
2010N/A+13.14%
2009N/A+22.67%
2008N/A-36.25%
2007N/A+5.32%
2006N/A+13.85%
2005N/A+5.32%
2004N/A+10.75%
2003N/A+24.18%
2002N/A-22.42%
2001N/A-10.13%
2000N/A-8.84%
1999N/A+8.61%

GNMA vs SPY Drawdown Comparison

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

The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.

The current GNMA drawdown is -1.72%. The current SPY drawdown is -1.24%.

RankGNMASPY
#1-17.09%
Apr 8, 2020 - Nov 25, 2025		-55.20%
Oct 9, 2007 - Aug 16, 2012
#2-9.58%
Aug 15, 2012 - Jan 20, 2016		-47.50%
Mar 24, 2000 - Oct 26, 2006
#3-3.06%
Aug 10, 2016 - Sep 5, 2017		-33.70%
Feb 19, 2020 - Aug 10, 2020
#4-2.96%
Sep 5, 2017 - Dec 28, 2018		-24.50%
Jan 3, 2022 - Dec 13, 2023
#5-2.61%
Feb 27, 2026 - May 19, 2026		-19.34%
Sep 20, 2018 - Apr 12, 2019
#6-2.52%
Mar 9, 2020 - Mar 24, 2020		-18.76%
Feb 19, 2025 - Jun 26, 2025
#7-1.33%
Jun 15, 2012 - Jul 31, 2012		-13.02%
Jul 20, 2015 - Apr 18, 2016
#8-1.27%
May 31, 2012 - Jun 15, 2012		-10.10%
Jan 26, 2018 - Aug 6, 2018
#9-1.25%
Feb 11, 2016 - Jun 10, 2016		-9.44%
Sep 2, 2020 - Nov 11, 2020
#10-1.10%
Aug 9, 2012 - Aug 15, 2012		-9.30%
Jan 19, 2000 - Mar 17, 2000
#11-1.05%
Aug 2, 2012 - Aug 9, 2012		-9.05%
Jul 19, 2007 - Oct 5, 2007
#12-0.84%
May 16, 2012 - May 31, 2012		-8.88%
Jan 27, 2026 - Apr 14, 2026
#13-0.84%
Mar 13, 2012 - Mar 29, 2012		-8.41%
Jul 16, 2024 - Sep 19, 2024
#14-0.79%
Nov 25, 2025 - Dec 31, 2025		-7.35%
Sep 14, 2012 - Jan 2, 2013
#15-0.72%
Mar 28, 2019 - May 6, 2019		-7.27%
Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between GNMA and SPY is 0.70 which considered as a strong positive correlation - the stocks tend to move together.

0.70
-101

Dividend Comparison (1999 - 2026)

GNMA vs SPY dividend yield comparison.

YearGNMASPY
20262.12%0.49%
20254.19%1.07%
20244.15%1.21%
20233.43%1.40%
20222.01%1.65%
20210.64%1.20%
20201.89%1.52%
20192.61%1.75%
20182.41%2.04%
20172.15%1.80%
20161.89%2.03%
20151.50%2.06%
20141.22%1.87%
20131.06%1.81%
20121.29%2.18%
20110.00%2.05%
20100.00%1.80%
20090.00%1.95%
20080.00%3.02%
20070.00%1.85%
20060.00%1.73%
20050.00%1.73%
20040.00%1.82%
20030.00%1.47%
20020.00%1.70%
20010.00%1.25%
20000.00%1.15%
19990.00%0.24%

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