- ISIN
- US3620145322
- Issuer
- GMO
- Inception Date
- Jun 25, 2018
- Category
- High Yield Bonds
- Min. Investment
- $750,000,000
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
GHVIX Performance Chart
GMO High Yield Fund (GHVIX) is up 1.6% since the beginning of the year. GHVIX is currently trading at $18 per share. Investors who bought $1,000 worth of GHVIX shares 5 years ago would now be looking at an investment worth $1,265.
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Returns By Period
GMO High Yield Fund (GHVIX) has returned 1.57% so far this year and 7.43% over the past 12 months.
GMO High Yield Fund
- 1D
- -0.11%
- 1M
- 0.29%
- YTD
- 1.57%
- 6M
- 2.16%
- 1Y
- 7.43%
- 3Y*
- 6.78%
- 5Y*
- 4.81%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 0.13%
- 1M
- 5.25%
- YTD
- 11.16%
- 6M
- 11.43%
- 1Y
- 28.20%
- 3Y*
- 21.12%
- 5Y*
- 12.66%
- 10Y*
- 13.75%
GHVIX Monthly Returns History
Based on dividend-adjusted daily data since Jun 27, 2018, GHVIX's average daily return is +0.02%, while the average monthly return is +0.48%. At this rate, an investment would double in approximately 12.1 years.
Historically, 63% of months were positive and 37% were negative. The best month was Dec 2021 with a return of +7.6%, while the worst month was Mar 2020 at -9.8%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 4 months.
On a daily basis, GHVIX closed higher 46% of trading days. The best single day was Dec 18, 2024 with a return of +7.9%, while the worst single day was Dec 19, 2024 at -8.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.46% | 0.06% | -1.21% | 1.87% | 0.52% | -0.11% | 1.57% | ||||||
| 2025 | 1.38% | 0.77% | -0.88% | 0.24% | 1.95% | 1.74% | 0.28% | 1.19% | 0.84% | 0.22% | 0.72% | 0.58% | 9.39% |
| 2024 | 0.17% | 0.17% | 1.18% | -1.28% | 1.52% | 0.94% | -4.12% | 1.55% | 1.58% | -1.00% | 1.57% | -0.72% | 1.41% |
| 2023 | 3.78% | -1.70% | 1.73% | 0.88% | -1.16% | 1.59% | 1.22% | 0.11% | -1.37% | -1.04% | 5.04% | 3.42% | 12.94% |
| 2022 | -2.70% | -0.69% | -0.81% | -4.01% | 1.47% | -6.17% | 6.43% | -3.40% | -3.29% | 3.82% | 2.82% | -1.10% | -8.06% |
| 2021 | -0.14% | 0.24% | 0.77% | 1.14% | 0.23% | 1.31% | 0.14% | 0.75% | -0.30% | -0.05% | -0.99% | 7.55% | 10.90% |
Benchmark Metrics
GMO High Yield Fund has an annualized alpha of 2.24%, beta of 0.25, and R2 of 0.30 versus S&P 500 Index. Calculated based on daily prices since June 28, 2018.
- This fund participated in 34.02% of S&P 500 Index downside but only 29.29% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.25 may look defensive, but with R2 of 0.30 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R2 of 0.30 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 2.24%
- Beta
- 0.25
- R²
- 0.30
- Upside Capture
- 29.29%
- Downside Capture
- 34.02%
Expense Ratio
GHVIX has an expense ratio of 0.46%, placing it in the medium range.
Return for Risk
Risk / Return Rank
GHVIX ranks 74 for risk / return — better than 74% 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 High Yield Fund (GHVIX) and compare them to S&P 500 Index.
| GHVIX | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.47 | 2.39 | +0.08 |
Sortino ratioReturn per unit of downside risk | 3.72 | 3.25 | +0.47 |
Omega ratioGain probability vs. loss probability | 1.51 | 1.43 | +0.08 |
Calmar ratioReturn relative to maximum drawdown | 3.06 | 3.11 | -0.05 |
Martin ratioReturn relative to average drawdown | 14.56 | 14.38 | +0.17 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Dividends
Dividend History
GMO High Yield Fund provided a 5.59% dividend yield over the last twelve months, with an annual payout of $0.98 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.98 | $0.98 | $1.33 | $0.78 | $1.33 | $3.66 | $0.44 | $1.57 | $0.77 |
Dividend yield | 5.59% | 5.68% | 7.96% | 4.37% | 8.11% | 19.00% | 2.10% | 7.76% | 3.83% |
Monthly Dividends
The table displays the monthly dividend distributions for GMO High Yield 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 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.98 | $0.98 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.33 | $1.33 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.78 | $0.78 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.00 | $0.00 | $1.30 | $1.33 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.61 | $0.00 | $0.00 | $0.00 | $0.00 | $2.05 | $3.66 |
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 High Yield 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 High Yield Fund was 20.48%, occurring on Mar 23, 2020. Recovery took 158 trading sessions.
The current GMO High Yield Fund drawdown is 0.11%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -20.48%Mar 2020 | 1mo 1d | 7mo 16d | 8mo 17dFeb 2020 - Nov 2020 |
Bear market2022 | -13.54%Sep 2022 | 8mo 27d | 1y 2mo | 1y 10moJan 2022 - Nov 2023 |
2025 selloff2025 | -9.29%Apr 2025 | 3mo 19d | 7mo 23d | 11mo 12dDec 2024 - Nov 2025 |
2024 pullback2024 | -5.92%Jul 2024 | 20d | 5mo 18d | 6mo 8dJun 2024 - Dec 2024 |
2026 pullback2026 | -2.42%Mar 2026 | 1mo 2d | 17d | 1mo 19dFeb 2026 - Apr 2026 |
Drawdown Indicators
| GHVIX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.48% | -56.78% | +36.30% |
Max Drawdown (1Y)Largest decline over 1 year | -2.42% | -9.10% | +6.68% |
Max Drawdown (3Y)Largest decline over 3 years | -9.29% | -18.90% | +9.61% |
Max Drawdown (5Y)Largest decline over 5 years | -13.54% | -25.43% | +11.89% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.11% | 0.00% | -0.11% |
Average DrawdownAverage peak-to-trough decline | -2.64% | -10.72% | +8.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.51% | 1.97% | -1.46% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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