The fund invests directly or indirectly (through other GMO Funds) in a combination of GMO investment strategies. The fund typically has exposure to many underlying strategies, and at any given time the fund may have significant exposure to a single or a few strategies. The fund gains exposure to commodities and some other asset classes by investing through a wholly-owned subsidiary advised by GMO, which does not receive any additional management or other fees for its services. It is non-diversified.

Nasdaq

GAAVX

Under normal circumstances, the fund invests directly and indirectly (e.g., through other GMO Funds or derivatives) at least 80% of its assets in bonds. The term "bond" includes (i) obligations of an issuer to make payments on future dates of principal, interest (whether fixed or variable) or both and (ii) synthetic debt instruments created by GMO by using derivatives (e.g., a futures contract, swap contract, forward currency contract, or option).

GABFX

The fund invests a significant portion of its assets in shares of other series of GMO Trust (collectively, the âunderlying GMO Fundsâ), which may include the Equity Funds, the Fixed Income Funds, the Implementation Funds, and the Alternative Funds. The fund may invest in derivatives and effect short sales directly or through its investment in underlying GMO Funds.

GBATX

The fund invests a significant portion of its assets in shares of other series of GMO Trust (each, a âGMO fundâ). GMO implements the fund's strategy by allocating its assets among asset classes (e.g., non-U.S. equity, U.S. equity, emerging country equity, emerging country debt, non-U.S. fixed income, U.S. fixed income and commodities).

GBFFX

The investment seeks positive total return.  The fund is structured as a fund of funds and gains its investment exposures primarily by investing in Implementation Fund. It seeks annualized returns of 5% (net of fees) above the Consumer Price Index and annualized volatility (standard deviation) of 5-10%, each over a complete market cycle.

Other OTC

GBMFX

GMO seeks to achieve the fund's investment objective by investing primarily in equities of U.S. companies that are included in the S&P SmallCap 600 Index or whose market capitalization at the time of investment is less than that of the 1000 largest publicly held companies. As an alternative to investing directly in equities, it may invest in exchange-traded and OTC derivatives and ETFs. Under normal circumstances, the fund invests directly and indirectly at least 80% of its assets in equities tied economically to the United States.

GCAVX

Under normal market conditions, the fund invests at least 80% of its assets in companies in "climate change-related industries". The advisor considers "climate change-related industries" to include clean energy, batteries and storage, electric grid, energy efficiency, recycling and pollution control, agriculture, water, and businesses that service such industries. The fund is permitted to invest directly and indirectly in equities of companies tied economically to any country in the world, including emerging countries.

GCCHX

Under normal circumstances, the fund invests at least 80% of the fund’s assets directly and indirectly (e.g., through underlying funds or derivatives) in companies tied economically to markets that are not treated as “developed markets” in the MSCI World Index (“emerging markets”). It primarily invests in companies with what GMO believes to be high quality, growth-oriented business models within emerging markets or companies well-positioned to benefit from the development and growth of the world’s emerging markets. The fund is non-diversified.

GEDOX

The investment seeks total return in excess of that of its benchmark, the Markit iBoxx USD Liquid High Yield Index. Under normal circumstances, the fund invests directly and indirectly (e.g., through derivatives and ETFs) at least 80% of its assets in high yield bonds. The term "bond" includes (i) obligations of an issuer to make payments on future dates of principal, interest (whether fixed or variable) or both and (ii) synthetic debt instruments created by GMO by using derivatives.

GHVIX

The investment seeks total return greater than that of its benchmark, the MSCI ACWI ex USA.  Under normal circumstances, the fund invests (including through investment in the underlying funds) at least 80% of its assets in equities. It may invest in securities of companies of any market capitalization. In addition, the fund may lend its portfolio securities. The fund also may invest in U.S. Treasury fund, in money market funds unaffiliated with GMO, and directly in the types of investments typically held by money market funds.

GIEAX

Depending on GMO's outlook, the fund may have exposure to any asset class (e.g., non-U.S. equity, U.S. equity, emerging country equity, emerging country debt, non-U.S. fixed income, U.S. fixed income, real estate, and commodities) and at times may be substantially invested in a single asset class. It does not invest directly in commodities and commodity-related derivatives. The fund also may invest in U.S. Treasury Fund, in money market funds unaffiliated with GMO, and directly in the types of investments typically held by money market funds.

GIMFX

The investment seeks total return greater than that of its benchmark, the MSCI EAFE Index.  The fund is a fund of funds and invests primarily in equities traded in non-U.S. markets (including emerging markets) through its investment in other series of GMO Trust, including International Equity Fund, Emerging Markets Fund and Japan Value Creation Fund (collectively, the "underlying GMO Funds"). It invests (including through investment in the underlying funds) at least 80% of its assets in equities tied economically to developed markets.

GIOTX

The fund aims to invest in high-quality companies across various economic cycles globally, including emerging markets, in pursuit of the investment objective. It can directly and indirectly invest in equities and operates as a non-diversified fund.

GMAEX

The mutual fund primarily invests at least 80% of its assets in Japanese companies and may also invest in U.S. Treasury funds and money market funds, while also directly investing in money market fund types of investments.

GMAHX

The mutual fund aims to invest primarily in companies connected to emerging markets, excluding China, through various investment vehicles like derivatives and ETFs. It is categorized as a non-diversified fund.

GMAQX

The investment seeks total return in excess of that of its benchmark, the J.P. Morgan EMBI Global Diversified. The fund invests primarily in non-local currency denominated debt (“external debt”) of emerging country sovereign and quasi-sovereign issuers. Under normal circumstances, it invests directly and indirectly at least 80% of its assets in debt investments tied economically to emerging countries.

GMCDX

The investment seeks total return greater than that of its benchmark, the MSCI ACWI Index.  Under normal circumstances, the fund invests (including through investment in the underlying funds) at least 80% of its assets in equities. It may invest in securities of companies of any market capitalization. In addition, the fund may lend its portfolio securities. The fund also may invest in U.S. Treasury fund, in money market funds unaffiliated with GMO, and directly in the types of investments typically held by money market funds.

GMGEX

The investment seeks capital appreciation and current income.  The fund invests primarily in securitized credit securities. It also may invest in other fixed-income instruments, including, without limitation, bonds and other similar instruments issued or guaranteed by the U.S. government and its agencies and instrumentalities, by non-U.S. governments and their agencies and instrumentalities and by private sector entities. The fund's allocation of its assets into various asset classes within the fixed income market will depend on the views of GMO as to the best value relative to what is currently available in the market.

GMODX

The investment seeks total return in excess of that of its benchmark, the MSCI Emerging Markets Index.  Under normal circumstances, the fund invests at least 80% of the fund’s net assets directly and indirectly (e.g., through underlying funds or derivatives) in companies tied economically to markets that are not treated as “developed markets in the MSCI World Index (“emerging markets”). It may invest in securities of companies of any market capitalization.

GMOEX

The investment seeks high total return.  Under normal circumstances, the fund invests directly and indirectly at least 80% of its assets in equities. It also may invest in U.S. Treasury fund, in money market funds unaffiliated with GMO, and directly in the types of investments typically held by money market funds. The fund may invest in securities of companies of any market capitalization.

Symbol	Full Name	Category	Inception	Expense Ratio	YTD Return	10Y Return (Annualized)	Dividend Yield
GAAVX	GMO Alternative Allocation Fund	Multistrategy	May 1, 2019	0.61%	0.00%	—	5.18%
GABFX	GMO Asset Allocation Bond Fund	Inflation-Protected Bonds	Mar 17, 2009	0.32%	-9.67%	0.26%	5.57%
GBATX	GMO Strategic Opportunities Allocation Fund	Global Allocation	May 30, 2005	0.32%	6.40%	5.21%	5.68%
GBFFX	GMO Benchmark-Free Fund	Global Allocation	Jun 14, 2011	0.35%	6.28%	—	5.38%
GBMFX	GMO Benchmark-Free Allocation Fund	Global Allocation	Jul 22, 2003	0.74%	4.90%	2.57%	5.37%
GCAVX	GMO U.S. Small Cap Value Fund	Small Cap Value Equities	Jul 2, 2019	0.42%	4.67%	—	1.76%
GCCHX	GMO Climate Change Fund	Global Equities	Apr 4, 2017	0.77%	-5.78%	—	1.02%
GEDOX	GMO Emerging Domestic Opportunities Fund	Emerging Markets Diversified	Feb 28, 2011	0.94%	—	—	—
GHVIX	GMO High Yield Fund	High Yield Bonds	Jun 25, 2018	0.46%	1.97%	—	4.29%
GIEAX	GMO International Equity Allocation Fund	Foreign Large Cap Equities	Oct 10, 1996	0.01%	9.51%	3.44%	6.53%
GIMFX	GMO Implementation Fund	Global Allocation	Feb 29, 2012	0.02%	5.29%	—	5.63%
GIOTX	GMO International Developed Equity Allocation Fund	Foreign Large Cap Equities	Jun 4, 2006	0.00%	9.62%	4.23%	5.96%
GMAEX	GMO Quality Cyclicals Fund	Global Equities	May 11, 2020	0.40%	8.08%	—	7.85%
GMAHX	GMO-Usonian Japan Value Creation Fund	Japan Equities	Sep 13, 2020	0.57%	5.87%	—	4.39%
GMAQX	GMO Emerging Markets ex-China Fund	Emerging Markets Diversified	Oct 17, 2021	0.67%	6.42%	—	8.51%
GMCDX	GMO Emerging Country Debt Fund	Emerging Markets Bonds	Apr 18, 1994	0.53%	7.14%	4.95%	9.58%
GMGEX	GMO Global Equity Allocation Fund	Global Equities	Nov 25, 1996	0.01%	8.93%	6.49%	5.16%
GMODX	GMO Opportunistic Income Fund	Nontraditional Bonds	Oct 2, 2011	0.47%	1.82%	3.59%	7.53%
GMOEX	GMO Emerging Markets Fund	Emerging Markets Diversified	Dec 8, 1993	0.90%	9.74%	2.16%	7.69%
GMOIX	GMO International Equity Fund	Foreign Large Cap Equities	Mar 30, 1987	0.66%	10.61%	4.37%	6.82%

GMO Mutual Funds List

Risk vs. Return Scatterplot