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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in GMO High Yield Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Returns By Period
GMO High Yield Fund (GHVIX) has returned -1.45% so far this year and 6.46% over the past 12 months.
GMO High Yield Fund
- 1D
- 0.18%
- 1M
- -1.96%
- YTD
- -1.45%
- 6M
- 0.06%
- 1Y
- 6.46%
- 3Y*
- 5.96%
- 5Y*
- 4.53%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since Jun 27, 2018, GHVIX's average daily return is +0.02%, while the average monthly return is +0.46%. At this rate, your investment would double in approximately 12.6 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% | -1.96% | -1.45% | |||||||||
| 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 2.48%, 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 34.09% of S&P 500 Index downside but only 30.56% 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
- 2.48%
- Beta
- 0.25
- R²
- 0.30
- Upside Capture
- 30.56%
- Downside Capture
- 34.09%
Expense Ratio
GHVIX has an expense ratio of 0.46%, placing it in the medium range.
Return for Risk
Risk / Return Rank
GHVIX ranks 84 for risk / return — in the top 84% of mutual funds on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for GMO High Yield Fund (GHVIX) and compare them to a chosen benchmark (S&P 500 Index).
| GHVIX | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.56 | 0.90 | +0.66 |
Sortino ratioReturn per unit of downside risk | 2.20 | 1.39 | +0.82 |
Omega ratioGain probability vs. loss probability | 1.36 | 1.21 | +0.15 |
Calmar ratioReturn relative to maximum drawdown | 1.97 | 1.40 | +0.57 |
Martin ratioReturn relative to average drawdown | 9.21 | 6.61 | +2.60 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore GHVIX risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
Dividends
Dividend History
GMO High Yield Fund provided a 5.77% 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 | 5.77% | 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 | |||||||||
| 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 2.24%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -20.48% | Feb 21, 2020 | 22 | Mar 23, 2020 | 158 | Nov 4, 2020 | 180 |
| -13.54% | Jan 3, 2022 | 185 | Sep 27, 2022 | 294 | Nov 28, 2023 | 479 |
| -9.29% | Dec 19, 2024 | 73 | Apr 7, 2025 | 162 | Nov 26, 2025 | 235 |
| -5.92% | Jun 13, 2024 | 14 | Jul 3, 2024 | 117 | Dec 18, 2024 | 131 |
| -2.42% | Feb 23, 2026 | 25 | Mar 27, 2026 | — | — | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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