APITX vs. GCCHX

Last updated Jun 23, 2026

APITX (Yorktown Growth Fund) and GCCHX (GMO Climate Change Fund) are both Global Equities funds. Over the past 5 years, APITX returned 6.26%/yr vs 2.78%/yr for GCCHX. A 0.77 correlation means they provide meaningful diversification when combined. APITX charges 2.04%/yr vs 0.77%/yr for GCCHX.

Performance

APITX vs. GCCHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Yorktown Growth Fund (APITX) and GMO Climate Change Fund (GCCHX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, APITX achieves a 20.80% return, which is significantly higher than GCCHX's 19.71% return.

APITX

• 1D: 1.75%
• 1M: 4.99%
• YTD: 20.80%
• 6M: 17.93%
• 1Y: 34.72%
• 3Y*: 15.78%
• 5Y*: 6.26%
• 10Y*: 10.73%

GCCHX

• 1D: 0.91%
• 1M: -2.05%
• YTD: 19.71%
• 6M: 17.88%
• 1Y: 67.44%
• 3Y*: 2.15%
• 5Y*: 2.78%
• 10Y*: —

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

APITX vs. GCCHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
APITX Yorktown Growth Fund	20.80%	10.90%	7.34%	19.37%	-26.74%	16.38%	28.59%	30.52%	-14.66%	17.73%
GCCHX GMO Climate Change Fund	19.71%	39.25%	-25.63%	-6.85%	-10.39%	21.84%	42.82%	27.36%	-16.35%	26.15%

Correlation

The correlation between APITX and GCCHX is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (All Time) Calculated using the full available price history since Apr 18, 2017	0.77

The correlation between APITX and GCCHX has been stable across timeframes, ranging from 0.70 to 0.77 - a consistent structural relationship.

Return for Risk

APITX vs. GCCHX — Risk / Return Rank

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

APITX

APITX Risk / Return Rank: 46
APITX Sharpe Ratio Rank: 38
APITX Sortino Ratio Rank: 36
APITX Omega Ratio Rank: 35
APITX Calmar Ratio Rank: 63
APITX Martin Ratio Rank: 58

GCCHX

GCCHX Risk / Return Rank: 87
GCCHX Sharpe Ratio Rank: 91
GCCHX Sortino Ratio Rank: 81
GCCHX Omega Ratio Rank: 74
GCCHX Calmar Ratio Rank: 96
GCCHX Martin Ratio Rank: 92

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.

APITX vs. GCCHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Yorktown Growth Fund (APITX) and GMO Climate Change Fund (GCCHX). 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.

	APITX	GCCHX	Difference
Sharpe ratio: Return per unit of total volatility	1.68	2.80	-1.12
Sortino ratio: Return per unit of downside risk	2.34	3.54	-1.20
Omega ratio: Gain probability vs. loss probability	1.29	1.44	-0.15
Calmar ratio: Return relative to maximum drawdown	2.93	5.66	-2.73
Martin ratio: Return relative to average drawdown	10.83	17.33	-6.51

APITX vs. GCCHX - Sharpe Ratio Comparison

The current APITX Sharpe Ratio is 1.68, which is lower than the GCCHX Sharpe Ratio of 2.80. The chart below compares the historical Sharpe Ratios of APITX and GCCHX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

APITX vs. GCCHX - Drawdown Comparison

The maximum APITX drawdown since its inception was -63.33%, which is greater than GCCHX's maximum drawdown of -54.32%. Use the drawdown chart below to compare losses from any high point for APITX and GCCHX.

Drawdown Indicators

	APITX	GCCHX	Difference
Max Drawdown Largest peak-to-trough decline	-63.33%	-54.32%	-9.01%
Max Drawdown (1Y) Largest decline over 1 year	-11.76%	-11.76%	0.00%
Max Drawdown (3Y) Largest decline over 3 years	-24.80%	-52.03%	+27.23%
Max Drawdown (5Y) Largest decline over 5 years	-35.69%	-54.32%	+18.63%
Max Drawdown (10Y) Largest decline over 10 years	-35.69%	—	—
Current Drawdown Current decline from peak	0.00%	-7.08%	+7.08%
Average Drawdown Average peak-to-trough decline	-14.39%	-13.87%	-0.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.18%	3.83%	-0.65%

Volatility

APITX vs. GCCHX - Volatility Comparison

The current volatility for Yorktown Growth Fund (APITX) is 6.91%, while GMO Climate Change Fund (GCCHX) has a volatility of 8.87%. This indicates that APITX experiences smaller price fluctuations and is considered to be less risky than GCCHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APITX	GCCHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.91%	8.87%	-1.96%
Volatility (6M) Calculated over the trailing 6-month period	16.75%	17.73%	-0.98%
Volatility (1Y) Calculated over the trailing 1-year period	20.55%	23.82%	-3.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.02%	27.14%	-6.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.08%	25.21%	-6.13%

APITX vs. GCCHX - Expense Ratio Comparison

APITX has a 2.04% expense ratio, which is higher than GCCHX's 0.77% expense ratio.

Dividends

APITX vs. GCCHX - Dividend Comparison

APITX has not paid dividends to shareholders, while GCCHX's dividend yield for the trailing twelve months is around 1.26%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
APITX Yorktown Growth Fund	0.00%	0.00%	0.00%	0.00%	0.00%	18.81%	13.95%	9.40%	25.45%	7.74%	1.09%	3.16%
GCCHX GMO Climate Change Fund	1.26%	1.51%	0.66%	0.96%	2.24%	25.43%	5.42%	4.03%	2.62%	3.43%	0.00%	0.00%

Frequently Asked Questions

Can I hold both APITX and GCCHX in my portfolio?

APITX and GCCHX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, APITX or GCCHX?

GCCHX has higher volatility (8.87%) compared to APITX (6.91%). In terms of maximum drawdown, APITX dropped -63.33% vs GCCHX's -54.32%.

Which has better risk-adjusted returns?

GCCHX currently has the higher Sharpe Ratio (2.80 vs 1.68), 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.