ASGM vs. GMMA
ASGM (Virtus AlphaSimplex Global Macro ETF) and GMMA (GammaRoad Market Navigation ETF) are both Tactical Allocation funds. ASGM is actively managed, while GMMA is passively managed. A 0.76 correlation means they provide meaningful diversification when combined. ASGM charges 0.86%/yr vs 0.75%/yr for GMMA.
Performance
ASGM vs. GMMA - Performance Comparison
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Returns By Period
In the year-to-date period, ASGM achieves a 22.52% return, which is significantly higher than GMMA's 3.61% return.
ASGM
- 1D
- -0.53%
- 1M
- 7.21%
- YTD
- 22.52%
- 6M
- 24.07%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GMMA
- 1D
- -0.41%
- 1M
- 3.45%
- YTD
- 3.61%
- 6M
- 3.75%
- 1Y
- 10.84%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ASGM vs. GMMA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ASGM Virtus AlphaSimplex Global Macro ETF | 22.52% | 11.57% |
GMMA GammaRoad Market Navigation ETF | 3.61% | 4.55% |
Correlation
The correlation between ASGM and GMMA is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 6, 2025 | 0.76 |
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Return for Risk
ASGM vs. GMMA — Risk / Return Rank
ASGM
GMMA
ASGM vs. GMMA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Virtus AlphaSimplex Global Macro ETF (ASGM) and GammaRoad Market Navigation ETF (GMMA). 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| ASGM | GMMA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 2.05 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.95 | 1.09 | +1.86 |
Drawdowns
ASGM vs. GMMA - Drawdown Comparison
The maximum ASGM drawdown since its inception was -6.62%, which is greater than GMMA's maximum drawdown of -5.21%. Use the drawdown chart below to compare losses from any high point for ASGM and GMMA.
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Drawdown Indicators
| ASGM | GMMA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.62% | -5.21% | -1.41% |
Max Drawdown (1Y)Largest decline over 1 year | — | -3.39% | — |
Current DrawdownCurrent decline from peak | -0.53% | -0.41% | -0.12% |
Average DrawdownAverage peak-to-trough decline | -1.22% | -1.23% | +0.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.97% | — |
Volatility
ASGM vs. GMMA - Volatility Comparison
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Volatility by Period
| ASGM | GMMA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.88% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 4.09% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 15.67% | 5.32% | +10.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.67% | 7.10% | +8.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.67% | 7.10% | +8.57% |
ASGM vs. GMMA - Expense Ratio Comparison
ASGM has a 0.86% expense ratio, which is higher than GMMA's 0.75% expense ratio.
Dividends
ASGM vs. GMMA - Dividend Comparison
ASGM's dividend yield for the trailing twelve months is around 3.69%, more than GMMA's 3.65% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
ASGM Virtus AlphaSimplex Global Macro ETF | 3.69% | 4.52% | 0.00% |
GMMA GammaRoad Market Navigation ETF | 3.65% | 3.00% | 0.57% |
Frequently Asked Questions
ASGM and GMMA have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GMMA is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GMMA is cheaper with a 0.75% expense ratio, compared with 0.86% for ASGM.
ASGM has the higher dividend yield at 3.69%, compared with 3.65% for GMMA.
They also come from different issuers: Virtus and GammaRoad Capital Partners. Their fees differ too: 0.86% for ASGM and 0.75% for GMMA.
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