AGEYX vs. GMOQX

Last updated Jun 3, 2026

AGEYX (American Beacon Developing World Income Fund Class Y) and GMOQX (GMO Emerging Country Debt Fund Class VI) are both Emerging Markets Bonds funds. AGEYX is passively managed, while GMOQX is actively managed. Over the past 3 years, AGEYX returned 17.11%/yr vs 20.00%/yr for GMOQX. A 0.73 correlation means they provide meaningful diversification when combined. AGEYX charges 1.14%/yr vs 0.51%/yr for GMOQX.

Performance

AGEYX vs. GMOQX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Beacon Developing World Income Fund Class Y (AGEYX) 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, AGEYX achieves a 6.43% return, which is significantly lower than GMOQX's 8.37% return.

AGEYX

• 1D: 0.10%
• 1M: 0.88%
• YTD: 6.43%
• 6M: 8.32%
• 1Y: 21.10%
• 3Y*: 17.11%
• 5Y*: 8.11%
• 10Y*: 7.87%

GMOQX

• 1D: -0.04%
• 1M: 1.21%
• YTD: 8.37%
• 6M: 9.29%
• 1Y: 26.99%
• 3Y*: 20.00%
• 5Y*: —
• 10Y*: —

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

AGEYX vs. GMOQX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
AGEYX American Beacon Developing World Income Fund Class Y	6.43%	19.15%	15.85%	13.10%	-12.62%	0.24%
GMOQX GMO Emerging Country Debt Fund Class VI	8.37%	22.45%	12.60%	17.76%	-16.26%	-2.20%

Correlation

The correlation between AGEYX and GMOQX is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (All Time) Calculated using the full available price history since Aug 17, 2021	0.73

The correlation between AGEYX and GMOQX shifts across timeframes, from 0.70 (3 years) to 0.82 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

AGEYX vs. GMOQX — Risk / Return Rank

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

AGEYX

AGEYX Risk / Return Rank: 98
AGEYX Sharpe Ratio Rank: 100
AGEYX Sortino Ratio Rank: 99
AGEYX Omega Ratio Rank: 99
AGEYX Calmar Ratio Rank: 97
AGEYX 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.

AGEYX vs. GMOQX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Beacon Developing World Income Fund Class Y (AGEYX) 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.

	AGEYX	GMOQX	Difference
Sharpe ratio Return per unit of total volatility	5.72	5.05	+0.66
Sortino ratio Return per unit of downside risk	9.56	9.04	+0.52
Omega ratio Gain probability vs. loss probability	2.63	2.25	+0.38
Calmar ratio Return relative to maximum drawdown	6.71	7.02	-0.30
Martin ratio Return relative to average drawdown	30.17	30.53	-0.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AGEYX vs. GMOQX - Sharpe Ratio Comparison

The current AGEYX Sharpe Ratio is 5.72, which is comparable to the GMOQX Sharpe Ratio of 5.05. The chart below compares the historical Sharpe Ratios of AGEYX 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

	AGEYX	GMOQX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.72	5.05	+0.66
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.58	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.58	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.38	0.73	+0.64

Drawdowns

AGEYX vs. GMOQX - Drawdown Comparison

The maximum AGEYX drawdown since its inception was -22.24%, smaller than the maximum GMOQX drawdown of -31.41%. Use the drawdown chart below to compare losses from any high point for AGEYX and GMOQX.

Drawdown Indicators

	AGEYX	GMOQX	Difference
Max Drawdown Largest peak-to-trough decline	-22.24%	-31.41%	+9.17%
Max Drawdown (1Y) Largest decline over 1 year	-3.15%	-3.82%	+0.67%
Max Drawdown (3Y) Largest decline over 3 years	-4.77%	-9.02%	+4.25%
Max Drawdown (5Y) Largest decline over 5 years	-22.24%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-22.24%	—	—
Current Drawdown Current decline from peak	0.00%	-0.04%	+0.04%
Average Drawdown Average peak-to-trough decline	-3.55%	-9.72%	+6.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.70%	0.88%	-0.18%

Volatility

AGEYX vs. GMOQX - Volatility Comparison

The current volatility for American Beacon Developing World Income Fund Class Y (AGEYX) is 0.87%, while GMO Emerging Country Debt Fund Class VI (GMOQX) has a volatility of 1.50%. This indicates that AGEYX 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

	AGEYX	GMOQX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.87%	1.50%	-0.63%
Volatility (6M) Calculated over the trailing 6-month period	3.04%	4.37%	-1.33%
Volatility (1Y) Calculated over the trailing 1-year period	3.72%	5.34%	-1.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.16%	10.88%	-5.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.99%	10.88%	-5.89%

AGEYX vs. GMOQX - Expense Ratio Comparison

AGEYX has a 1.14% expense ratio, which is higher than GMOQX's 0.51% expense ratio.

Dividends

AGEYX vs. GMOQX - Dividend Comparison

AGEYX's dividend yield for the trailing twelve months is around 9.82%, more than GMOQX's 5.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AGEYX American Beacon Developing World Income Fund Class Y	9.82%	9.99%	12.16%	9.64%	7.50%	7.90%	7.34%	8.61%	9.88%	7.30%	8.43%	7.03%
GMOQX GMO Emerging Country Debt Fund Class VI	5.88%	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 AGEYX and GMOQX in my portfolio?

AGEYX and GMOQX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AGEYX or GMOQX?

GMOQX has higher volatility (1.50%) compared to AGEYX (0.87%). In terms of maximum drawdown, AGEYX dropped -22.24% vs GMOQX's -31.41%.

Which has better risk-adjusted returns?

AGEYX currently has the higher Sharpe Ratio (5.72 vs 5.05), 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.