GNMA — iShares GNMA Bond ETF

GNMA Price Performance — Growth of $10,000

Value of a $10,000 investment in GNMA over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

GNMA Drawdown

The "underwater" chart: GNMA's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The iShares GNMA Bond ETF (GNMA) is a Mortgage-Backed category fund issued by iShares with $435 million in assets under management. It holds a C grade (50.6/100) and ranks 4 of 4 within its category, placing it at #379 of 458 tracked ETFs overall. The fund charges an expense ratio of 0.1%, which is significantly higher than the category median of 0.04%. Despite the higher cost, it offers a dividend yield of 4.31%, slightly above the category median of 4.28%. The top 10 holdings comprise 27.5% of assets, with the largest position being BLACKROCK CASH FUNDS TREASURY SL AGENCY SHARES at 9.0%.

Over the past year, the fund returned 2.50%, narrowly outperforming the category median of 2.48%. Short-term performance shows divergence, with a 1-day gain of 0.12% contrasting against a 1-week loss of 0.12% and a 6-month decline of 0.92%. Year-to-date returns stand at +0.57%, while the 3-year return is +15.05%. The current price of $43.39 sits at 14.3% of its 52-week range. The ETFValuer grade has remained unchanged at C across the last 35 tracked days, and price history is available for 3.0 years.

The fund exhibits a beta of 1.08 and an annualized volatility of 4.24%, which is labeled as Very Low. A Sharpe ratio of -0.59 indicates that risk-adjusted returns have been negative relative to the risk-free rate. The maximum drawdown recorded is -5.55%. Liquidity is constrained, with an average daily volume of 39,592 shares and a bid/ask spread of 57.49%. These metrics collectively describe a fund with low price fluctuation but poor liquidity and negative risk-adjusted performance.

AI-generated summary based on the data on this page.

GNMA Top Holdings

Holdings as of 2026-04-30 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 27.5% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how GNMA's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With GNMA

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with GNMA's top 10 — MBB overlaps most, holding 1 of the same companies as GNMA's top 10 (18.5% of GNMA's assets).

Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.

Market Backdrop

10-Year Treasury Yield: 4.77% (as of 2026-09-03) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 14.32 (as of 2026-09-03) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.63% (as of 2026-08-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

GNMA Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 57.49% and average daily volume is 40K/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $435M provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: GNMA is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

GNMA Performance History

How GNMA Compares to Other Mortgage-Backed ETFs