- ISIN
- US36256V8744
- Issuer
- GMO
- Inception Date
- Jul 2, 2019
- Category
- Small Cap Value Equities
- Min. Investment
- $750,000,000
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Small-Cap
- Asset Class Style
- Value
Share Price Chart
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Performance
GCAVX Performance Chart
GMO U.S. Small Cap Value Fund (GCAVX) is up 18.5% since the beginning of the year. GCAVX is currently trading at $28 per share. Investors who bought $1,000 worth of GCAVX shares 5 years ago would now be looking at an investment worth $1,753.
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Returns By Period
GMO U.S. Small Cap Value Fund (GCAVX) has returned 18.50% so far this year and 44.27% over the past 12 months.
GMO U.S. Small Cap Value Fund
- 1D
- 1.47%
- 1M
- 2.67%
- YTD
- 18.50%
- 6M
- 15.82%
- 1Y
- 44.27%
- 3Y*
- 20.45%
- 5Y*
- 11.88%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
GCAVX Monthly Returns History
Based on dividend-adjusted daily data since Jul 5, 2019, GCAVX's average daily return is +0.06%, while the average monthly return is +1.27%. At this rate, an investment would double in approximately 4.6 years.
Historically, 58% of months were positive and 42% were negative. The best month was Nov 2020 with a return of +16.9%, while the worst month was Mar 2020 at -26.1%. The longest winning streak lasted 8 consecutive months, and the longest losing streak was 4 months.
On a daily basis, GCAVX closed higher 51% of trading days. The best single day was Mar 24, 2020 with a return of +10.1%, while the worst single day was Mar 16, 2020 at -13.5%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 5.57% | 1.01% | -3.37% | 10.64% | 0.34% | 3.59% | 18.50% | ||||||
| 2025 | 3.26% | -4.87% | -5.81% | -4.56% | 7.38% | 3.29% | 1.16% | 8.97% | 2.49% | -0.35% | 3.05% | 1.44% | 15.27% |
| 2024 | -2.94% | 3.19% | 5.03% | -6.18% | 5.95% | -2.56% | 11.95% | -1.52% | -0.37% | -1.64% | 9.44% | -7.72% | 11.16% |
| 2023 | 10.61% | -1.83% | -4.19% | -3.03% | -2.57% | 10.79% | 5.91% | -3.68% | -3.08% | -5.41% | 7.96% | 11.62% | 22.72% |
| 2022 | -4.33% | 0.41% | -1.77% | -5.47% | 3.22% | -11.21% | 10.49% | -4.21% | -11.42% | 12.96% | 5.06% | -5.70% | -14.22% |
| 2021 | 3.41% | 11.36% | 7.60% | 1.79% | 3.54% | -1.91% | -2.39% | 2.00% | -1.66% | 3.25% | -0.57% | 5.34% | 35.66% |
Benchmark Metrics
GMO U.S. Small Cap Value Fund has an annualized alpha of 0.10%, beta of 1.05, and R2 of 0.62 versus S&P 500 Index. Calculated based on daily prices since July 05, 2019.
- This fund participated in 113.62% of S&P 500 Index downside but only 110.08% of its upside - more exposed to losses than it benefited from rallies.
- With beta of 1.05 and R2 of 0.62, this fund moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- 0.10%
- Beta
- 1.05
- R²
- 0.62
- Upside Capture
- 110.08%
- Downside Capture
- 113.62%
Expense Ratio
GCAVX has an expense ratio of 0.42%, placing it in the medium range.
Return for Risk
Risk / Return Rank
GCAVX ranks 77 for risk / return — better than 77% of mutual funds on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for GMO U.S. Small Cap Value Fund (GCAVX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| GCAVX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.32 | ||
| Sortino ratioReturn per unit of downside risk | +0.56 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.37 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 4.17 | 2.78 | +1.38 |
| Martin ratioReturn relative to average drawdown | 14.60 | 12.44 | +2.16 |
Dividends
Dividend History
GMO U.S. Small Cap Value Fund provided a 2.48% dividend yield over the last twelve months, with an annual payout of $0.69 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Dividend | $0.69 | $0.69 | $0.35 | $0.35 | $1.73 | $8.46 | $0.33 | $0.18 |
Dividend yield | 2.48% | 2.94% | 1.68% | 1.85% | 10.92% | 41.19% | 1.54% | 0.83% |
Monthly Dividends
The table displays the monthly dividend distributions for GMO U.S. Small Cap Value Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.00 | $0.00 | $0.64 | $0.69 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.35 | $0.35 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.00 | $0.00 | $0.30 | $0.35 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.32 | $0.00 | $0.00 | $0.00 | $0.00 | $0.41 | $1.73 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.70 | $0.00 | $0.00 | $0.00 | $0.00 | $6.77 | $8.46 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the GMO U.S. Small Cap Value Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the GMO U.S. Small Cap Value Fund was 48.22%, occurring on Mar 18, 2020. Recovery took 182 trading sessions.
The current GMO U.S. Small Cap Value Fund drawdown is 1.32%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -48.22%Mar 2020 | 2mo 1d | 8mo 21d | 10mo 22dJan 2020 - Dec 2020 |
2025 selloff2025 | -26.15%Apr 2025 | 4mo 13d | 5mo | 9mo 13dNov 2024 - Sep 2025 |
Bear market2022 | -25.66%Sep 2022 | 10mo 15d | 1y 2mo | 2y 29dNov 2021 - Dec 2023 |
2021 correction2021 | -11.93%Jul 2021 | 1mo 10d | 3mo 17d | 4mo 27dJun 2021 - Nov 2021 |
2026 correction2026 | -10.64%Mar 2026 | 1mo 6d | 28d | 2mo 4dFeb 2026 - Apr 2026 |
Drawdown Indicators
| GCAVX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.22% | -56.78% | +8.56% |
Max Drawdown (1Y)Largest decline over 1 year | -10.64% | -9.10% | -1.54% |
Max Drawdown (3Y)Largest decline over 3 years | -26.15% | -18.90% | -7.25% |
Max Drawdown (5Y)Largest decline over 5 years | -26.15% | -25.43% | -0.72% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -1.32% | -1.80% | +0.48% |
Average DrawdownAverage peak-to-trough decline | -8.50% | -10.71% | +2.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.03% | 2.03% | +1.00% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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