^NBI vs. GQETX
^NBI (NASDAQ Biotechnology Index) is an index, while GQETX (GMO Quality Fund) is Large Cap Blend Equities fund managed by GMO. Over the past 10 years, ^NBI returned 9.20%/yr vs 16.19%/yr for GQETX. A 0.65 correlation means they provide meaningful diversification when combined.
Performance
^NBI vs. GQETX - Performance Comparison
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Returns By Period
In the year-to-date period, ^NBI achieves a 10.03% return, which is significantly higher than GQETX's 3.03% return. Over the past 10 years, ^NBI has underperformed GQETX with an annualized return of 9.20%, while GQETX has yielded a comparatively higher 16.19% annualized return.
^NBI
- 1D
- 1.52%
- 1M
- 6.58%
- YTD
- 10.03%
- 6M
- 7.46%
- 1Y
- 47.36%
- 3Y*
- 14.88%
- 5Y*
- 4.16%
- 10Y*
- 9.20%
GQETX
- 1D
- -0.85%
- 1M
- -1.61%
- YTD
- 3.03%
- 6M
- 2.39%
- 1Y
- 16.58%
- 3Y*
- 16.16%
- 5Y*
- 12.52%
- 10Y*
- 16.19%
^NBI vs. GQETX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
^NBI NASDAQ Biotechnology Index | 10.03% | 32.40% | -1.37% | 3.74% | -10.91% | -0.63% | 25.69% | 24.41% | -9.32% | 21.06% |
GQETX GMO Quality Fund | 3.03% | 19.61% | 17.76% | 28.94% | -15.33% | 31.67% | 18.33% | 31.77% | 0.50% | 29.11% |
Correlation
The correlation between ^NBI and GQETX is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2005 | 0.65 |
The correlation between ^NBI and GQETX shifts across timeframes, from 0.50 (1 year) to 0.65 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
^NBI vs. GQETX — Risk / Return Rank
^NBI
GQETX
^NBI vs. GQETX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for NASDAQ Biotechnology Index (^NBI) and GMO Quality Fund (GQETX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
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.
| ^NBI | GQETX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.88 | ||
| Sortino ratioReturn per unit of downside risk | +1.14 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.26 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 5.63 | 1.46 | +4.17 |
| Martin ratioReturn relative to average drawdown | 17.94 | 5.76 | +12.18 |
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Drawdowns
^NBI vs. GQETX - Drawdown Comparison
The maximum ^NBI drawdown since its inception was -74.70%, which is greater than GQETX's maximum drawdown of -39.99%. Use the drawdown chart below to compare losses from any high point for ^NBI and GQETX.
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Drawdown Indicators
| ^NBI | GQETX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.70% | -39.99% | -34.71% |
Max Drawdown (1Y)Largest decline over 1 year | -8.45% | -12.76% | +4.31% |
Max Drawdown (3Y)Largest decline over 3 years | -24.08% | -15.54% | -8.54% |
Max Drawdown (5Y)Largest decline over 5 years | -38.50% | -24.22% | -14.28% |
Max Drawdown (10Y)Largest decline over 10 years | -38.50% | -30.44% | -8.06% |
Current DrawdownCurrent decline from peak | 0.00% | -2.88% | +2.88% |
Average DrawdownAverage peak-to-trough decline | -26.55% | -4.99% | -21.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.65% | 3.23% | -0.58% |
Volatility
^NBI vs. GQETX - Volatility Comparison
NASDAQ Biotechnology Index (^NBI) has a higher volatility of 6.98% compared to GMO Quality Fund (GQETX) at 4.26%. This indicates that ^NBI's price experiences larger fluctuations and is considered to be riskier than GQETX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ^NBI | GQETX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.98% | 4.26% | +2.72% |
Volatility (6M)Calculated over the trailing 6-month period | 15.76% | 10.09% | +5.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.28% | 12.69% | +7.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.01% | 15.93% | +6.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.35% | 17.06% | +6.29% |
Frequently Asked Questions
^NBI and GQETX have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
^NBI has higher volatility (6.98%) compared to GQETX (4.26%). In terms of maximum drawdown, ^NBI dropped -74.70% vs GQETX's -39.99%.
^NBI currently has the higher Sharpe Ratio (2.36 vs 1.47), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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