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 is a Mortgage-Backed category fund issued by iShares with $418 million in assets under management. It holds a C grade (51.1/100) and ranks 4 of 4 within its category, placing it at #364 of 458 tracked ETFs overall. The fund charges an expense ratio of 0.1%, which is more than double the category median of 0.04%. Despite the higher cost, it offers a dividend yield of 4.41%, slightly above the category median of 4.38%. The top 10 holdings comprise 27.9% of assets, with the largest position being BLACKROCK CASH FUNDS TREASURY SL AGENCY SHARES at 9.7%.

The fund's price of $42.58 sits at 30.4% of its 52-week range, reflecting a recent 1D gain of +0.04% and a 1W increase of +0.75%. Short-term momentum contrasts with longer-term weakness, as the 1M return of +1.82% diverges from the 3M decline of -1.33% and the 1Y loss of -0.93%. Year-to-date performance is negative at -0.90%, trailing the category median 1-year return of -0.84%. The 3Y return of +18.36% provides a positive long-term context despite recent underperformance. The ETFValuer grade has remained unchanged at C over the last 35 tracked days, and price history is available for 3.0 years.

With a beta of 1.09, the fund moves slightly more than the market, accompanied by an annualised volatility of 4.71% labelled as Very Low. A maximum drawdown of -5.55% indicates limited peak-to-trough decline during the measured period. The Sharpe ratio of -1.26 suggests that risk-adjusted returns have been negative relative to the risk taken. Liquidity is moderate, with an average daily volume of 59,331 shares. These metrics collectively describe a fund that has experienced negative risk-adjusted performance despite low volatility and manageable drawdowns.

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

GNMA Top Holdings

Holdings as of 2026-07-31 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 27.9% 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 (18.2% 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: 4.96% (as of 2026-10-22) — 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): 19.03 (as of 2026-10-22) — 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: 3.75% (as of 2026-09-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

GNMA Liquidity, Domicile & Tax Treatment

Liquidity: Average daily volume is 59K/day. Higher volume and a larger fund generally mean lower round-trip trading costs. AUM of $418M 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