AIONX vs. GTMIX
Compare and contrast key facts about AQR International Momentum Style Fund Class N (AIONX) and GMO Tax-Managed International Equities Fund (GTMIX).
AIONX is a passively managed fund by AQR Funds that tracks the performance of the MSCI World Ex-USA Index. It was launched on Jul 9, 2009. GTMIX is managed by GMO. It was launched on Jul 28, 1998.
Performance
AIONX vs. GTMIX - Performance Comparison
Loading graphics...
AIONX vs. GTMIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AIONX AQR International Momentum Style Fund Class N | 0.00% | 34.58% | 8.41% | 16.39% | -19.64% | 11.72% | 16.32% | 22.29% | -15.50% | 24.99% |
GTMIX GMO Tax-Managed International Equities Fund | 8.42% | 46.17% | 1.54% | 14.96% | -10.13% | 10.71% | 7.50% | 23.35% | -21.23% | 28.45% |
Returns By Period
Over the past 10 years, AIONX has underperformed GTMIX with an annualized return of 8.58%, while GTMIX has yielded a comparatively higher 9.87% annualized return.
AIONX
- 1D
- 3.56%
- 1M
- -6.89%
- YTD
- 0.00%
- 6M
- 3.63%
- 1Y
- 23.28%
- 3Y*
- 17.24%
- 5Y*
- 8.40%
- 10Y*
- 8.58%
GTMIX
- 1D
- 2.48%
- 1M
- -3.58%
- YTD
- 8.42%
- 6M
- 17.91%
- 1Y
- 41.17%
- 3Y*
- 20.26%
- 5Y*
- 11.29%
- 10Y*
- 9.87%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
AIONX vs. GTMIX - Expense Ratio Comparison
AIONX has a 0.88% expense ratio, which is higher than GTMIX's 0.68% expense ratio.
Return for Risk
AIONX vs. GTMIX — Risk / Return Rank
AIONX
GTMIX
AIONX vs. GTMIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AQR International Momentum Style Fund Class N (AIONX) and GMO Tax-Managed International Equities Fund (GTMIX). 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.
| AIONX | GTMIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.34 | 2.67 | -1.33 |
Sortino ratioReturn per unit of downside risk | 1.85 | 3.40 | -1.55 |
Omega ratioGain probability vs. loss probability | 1.27 | 1.52 | -0.25 |
Calmar ratioReturn relative to maximum drawdown | 1.99 | 3.54 | -1.55 |
Martin ratioReturn relative to average drawdown | 7.80 | 16.76 | -8.95 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| AIONX | GTMIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.34 | 2.67 | -1.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.50 | 0.76 | -0.26 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.51 | 0.62 | -0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.40 | +0.02 |
Correlation
The correlation between AIONX and GTMIX is 0.91, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
AIONX vs. GTMIX - Dividend Comparison
AIONX's dividend yield for the trailing twelve months is around 14.62%, less than GTMIX's 20.69% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AIONX AQR International Momentum Style Fund Class N | 14.62% | 14.62% | 21.87% | 11.32% | 2.62% | 1.77% | 0.95% | 2.12% | 1.85% | 1.96% | 2.23% | 1.30% |
GTMIX GMO Tax-Managed International Equities Fund | 20.69% | 22.43% | 5.94% | 0.36% | 5.44% | 16.55% | 2.25% | 4.13% | 7.25% | 2.96% | 4.05% | 3.26% |
Drawdowns
AIONX vs. GTMIX - Drawdown Comparison
The maximum AIONX drawdown since its inception was -32.32%, smaller than the maximum GTMIX drawdown of -58.31%. Use the drawdown chart below to compare losses from any high point for AIONX and GTMIX.
Loading graphics...
Drawdown Indicators
| AIONX | GTMIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.32% | -58.31% | +25.99% |
Max Drawdown (1Y)Largest decline over 1 year | -11.70% | -11.24% | -0.46% |
Max Drawdown (5Y)Largest decline over 5 years | -32.32% | -28.81% | -3.51% |
Max Drawdown (10Y)Largest decline over 10 years | -32.32% | -40.32% | +8.00% |
Current DrawdownCurrent decline from peak | -8.56% | -4.51% | -4.05% |
Average DrawdownAverage peak-to-trough decline | -7.75% | -12.75% | +5.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.98% | 2.38% | +0.60% |
Volatility
AIONX vs. GTMIX - Volatility Comparison
AQR International Momentum Style Fund Class N (AIONX) has a higher volatility of 8.64% compared to GMO Tax-Managed International Equities Fund (GTMIX) at 5.97%. This indicates that AIONX's price experiences larger fluctuations and is considered to be riskier than GTMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| AIONX | GTMIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.64% | 5.97% | +2.67% |
Volatility (6M)Calculated over the trailing 6-month period | 12.40% | 9.56% | +2.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.00% | 15.56% | +2.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.99% | 14.91% | +2.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.73% | 16.06% | +0.67% |