LEO vs GNMA

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

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

LEO vs GNMA - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

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

Net Assets

LEO

$429M

Winner

GNMA

$429M

Expense Ratio

LEO

N/A

GNMA

0.10%

Max Drawdown

LEO

54.53%

Winner

GNMA

23.27%

Sharpe Ratio

Winner

LEO

1.06

GNMA

0.54

5Y Beta

LEO

0.17

Winner

GNMA

0.04

5Y Dividends CAGR

LEO

-6.91%

Winner

GNMA

18.02%

LEO vs GNMA - Historical Returns

Returns include dividend reinvestment.

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

Winner

LEO

+3.21%

GNMA

+1.18%

Winner

LEO

+2.25%

GNMA

+0.43%

Winner

LEO

+3.78%

GNMA

+1.04%

Winner

LEO

+16.23%

GNMA

+5.94%

5Y(CAGR)

LEO

-2.12%

Winner

GNMA

+0.61%

10Y(CAGR)

LEO

+1.15%

Winner

GNMA

+1.20%

Max(CAGR)

Winner

LEO

+4.85%

GNMA

+1.39%

LEO vs GNMA - Annual Returns (2001 - 2026)

Returns include dividend reinvestment.

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

LEO vs GNMA Drawdown Comparison

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

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

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

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

Correlation

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

0.89

-101

Dividend Comparison (2001 - 2026)

LEO vs GNMA dividend yield comparison.

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