AGEPX vs. GMOQX

Last updated Jun 5, 2026

AGEPX (American Beacon Frontier Markets Income Fund) and GMOQX (GMO Emerging Country Debt Fund Class VI) are both Emerging Markets Bonds funds. Over the past 3 years, AGEPX returned 16.96%/yr vs 20.06%/yr for GMOQX. A 0.73 correlation means they provide meaningful diversification when combined. AGEPX charges 1.38%/yr vs 0.51%/yr for GMOQX.

Performance

AGEPX vs. GMOQX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Beacon Frontier Markets Income Fund (AGEPX) and GMO Emerging Country Debt Fund Class VI (GMOQX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AGEPX achieves a 6.76% return, which is significantly lower than GMOQX's 8.55% return.

AGEPX

• 1D: 0.00%
• 1M: 1.25%
• YTD: 6.76%
• 6M: 8.20%
• 1Y: 20.49%
• 3Y*: 16.96%
• 5Y*: 7.87%
• 10Y*: 7.64%

GMOQX

• 1D: -0.16%
• 1M: 1.29%
• YTD: 8.55%
• 6M: 9.19%
• 1Y: 25.84%
• 3Y*: 20.06%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AGEPX vs. GMOQX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
AGEPX American Beacon Frontier Markets Income Fund	6.76%	18.76%	15.58%	12.83%	-12.84%	0.13%
GMOQX GMO Emerging Country Debt Fund Class VI	8.55%	22.45%	12.60%	17.76%	-16.26%	-2.20%

Correlation

The correlation between AGEPX and GMOQX is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (All Time) Calculated using the full available price history since Aug 17, 2021	0.73

The correlation between AGEPX and GMOQX has been stable across timeframes, ranging from 0.71 to 0.80 - a consistent structural relationship.

Return for Risk

AGEPX vs. GMOQX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AGEPX

AGEPX Risk / Return Rank: 98
AGEPX Sharpe Ratio Rank: 100
AGEPX Sortino Ratio Rank: 99
AGEPX Omega Ratio Rank: 99
AGEPX Calmar Ratio Rank: 96
AGEPX Martin Ratio Rank: 98

GMOQX

GMOQX Risk / Return Rank: 98
GMOQX Sharpe Ratio Rank: 99
GMOQX Sortino Ratio Rank: 99
GMOQX Omega Ratio Rank: 98
GMOQX Calmar Ratio Rank: 97
GMOQX Martin Ratio Rank: 98

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AGEPX vs. GMOQX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Beacon Frontier Markets Income Fund (AGEPX) and GMO Emerging Country Debt Fund Class VI (GMOQX). 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.

	AGEPX	GMOQX	Difference
Sharpe ratio: Return per unit of total volatility	5.75	5.02	+0.73
Sortino ratio: Return per unit of downside risk	9.78	8.97	+0.81
Omega ratio: Gain probability vs. loss probability	2.57	2.24	+0.33
Calmar ratio: Return relative to maximum drawdown	6.65	6.99	-0.34
Martin ratio: Return relative to average drawdown	30.13	30.35	-0.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AGEPX vs. GMOQX - Sharpe Ratio Comparison

The current AGEPX Sharpe Ratio is 5.75, which is comparable to the GMOQX Sharpe Ratio of 5.02. The chart below compares the historical Sharpe Ratios of AGEPX and GMOQX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AGEPX	GMOQX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.75	5.02	+0.73
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.53	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.54	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.33	0.73	+0.60

Drawdowns

AGEPX vs. GMOQX - Drawdown Comparison

The maximum AGEPX drawdown since its inception was -22.47%, smaller than the maximum GMOQX drawdown of -31.41%. Use the drawdown chart below to compare losses from any high point for AGEPX and GMOQX.

Drawdown Indicators

	AGEPX	GMOQX	Difference
Max Drawdown Largest peak-to-trough decline	-22.47%	-31.41%	+8.94%
Max Drawdown (1Y) Largest decline over 1 year	-3.17%	-3.82%	+0.65%
Max Drawdown (3Y) Largest decline over 3 years	-4.80%	-9.02%	+4.22%
Max Drawdown (5Y) Largest decline over 5 years	-22.47%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-22.47%	—	—
Current Drawdown Current decline from peak	0.00%	-0.16%	+0.16%
Average Drawdown Average peak-to-trough decline	-3.64%	-9.70%	+6.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.70%	0.88%	-0.18%

Volatility

AGEPX vs. GMOQX - Volatility Comparison

The current volatility for American Beacon Frontier Markets Income Fund (AGEPX) is 0.83%, while GMO Emerging Country Debt Fund Class VI (GMOQX) has a volatility of 1.50%. This indicates that AGEPX experiences smaller price fluctuations and is considered to be less risky than GMOQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AGEPX	GMOQX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.83%	1.50%	-0.67%
Volatility (6M) Calculated over the trailing 6-month period	2.99%	4.38%	-1.39%
Volatility (1Y) Calculated over the trailing 1-year period	3.67%	5.33%	-1.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.16%	10.87%	-5.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.98%	10.87%	-5.89%

AGEPX vs. GMOQX - Expense Ratio Comparison

AGEPX has a 1.38% expense ratio, which is higher than GMOQX's 0.51% expense ratio.

Dividends

AGEPX vs. GMOQX - Dividend Comparison

AGEPX's dividend yield for the trailing twelve months is around 9.58%, more than GMOQX's 5.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AGEPX American Beacon Frontier Markets Income Fund	9.58%	9.79%	11.92%	9.40%	7.26%	7.65%	7.07%	8.38%	9.55%	7.09%	8.28%	6.80%
GMOQX GMO Emerging Country Debt Fund Class VI	5.87%	6.37%	6.23%	10.36%	13.87%	7.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AGEPX and GMOQX in my portfolio?

AGEPX and GMOQX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AGEPX or GMOQX?

GMOQX has higher volatility (1.50%) compared to AGEPX (0.83%). In terms of maximum drawdown, AGEPX dropped -22.47% vs GMOQX's -31.41%.

Which has better risk-adjusted returns?

AGEPX currently has the higher Sharpe Ratio (5.75 vs 5.02), 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.