BGCIX vs. GMODX
BGCIX (BlackRock Global Long/Short Credit Fund) and GMODX (GMO Opportunistic Income Fund) are both Nontraditional Bonds funds. Over the past 10 years, BGCIX returned 4.24%/yr vs 4.24%/yr for GMODX. At a 0.11 correlation, their price movements are largely independent. BGCIX charges 1.12%/yr vs 0.47%/yr for GMODX.
Performance
BGCIX vs. GMODX - Performance Comparison
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Returns By Period
In the year-to-date period, BGCIX achieves a 1.44% return, which is significantly higher than GMODX's 1.10% return. Over a longer period, both investments have demonstrated similar performance, with their 10-year annualized returns being quite close: BGCIX at 4.24% and GMODX at 4.24%.
BGCIX
- 1D
- -0.11%
- 1M
- 0.44%
- YTD
- 1.44%
- 6M
- 1.66%
- 1Y
- 4.36%
- 3Y*
- 7.14%
- 5Y*
- 3.23%
- 10Y*
- 4.24%
GMODX
- 1D
- -0.08%
- 1M
- 0.24%
- YTD
- 1.10%
- 6M
- 1.24%
- 1Y
- 4.19%
- 3Y*
- 5.79%
- 5Y*
- 3.82%
- 10Y*
- 4.24%
BGCIX vs. GMODX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BGCIX BlackRock Global Long/Short Credit Fund | 1.44% | 6.55% | 8.47% | 8.87% | -8.02% | 3.48% | 10.71% | 7.43% | -1.78% | 3.46% |
GMODX GMO Opportunistic Income Fund | 1.10% | 6.47% | 6.11% | 7.07% | -2.09% | 2.83% | 3.34% | 3.83% | 4.01% | 6.41% |
Correlation
The correlation between BGCIX and GMODX is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2012 | 0.11 |
The correlation between BGCIX and GMODX shifts across timeframes, from 0.11 (all time) to 0.33 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
BGCIX vs. GMODX — Risk / Return Rank
BGCIX
GMODX
BGCIX vs. GMODX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Global Long/Short Credit Fund (BGCIX) and GMO Opportunistic Income Fund (GMODX). 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.
| BGCIX | GMODX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.91 | 1.71 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 4.65 | 6.70 | -2.05 |
| Martin ratioReturn relative to average drawdown | 19.56 | 28.07 | -8.51 |
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Drawdowns
BGCIX vs. GMODX - Drawdown Comparison
The maximum BGCIX drawdown since its inception was -10.37%, which is greater than GMODX's maximum drawdown of -8.79%. Use the drawdown chart below to compare losses from any high point for BGCIX and GMODX.
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Drawdown Indicators
| BGCIX | GMODX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.37% | -8.79% | -1.58% |
Max Drawdown (1Y)Largest decline over 1 year | -0.99% | -0.65% | -0.34% |
Max Drawdown (3Y)Largest decline over 3 years | -2.18% | -4.97% | +2.79% |
Max Drawdown (5Y)Largest decline over 5 years | -9.78% | -5.79% | -3.99% |
Max Drawdown (10Y)Largest decline over 10 years | -10.37% | -8.79% | -1.58% |
Current DrawdownCurrent decline from peak | -0.11% | -0.21% | +0.10% |
Average DrawdownAverage peak-to-trough decline | -1.27% | -0.70% | -0.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.24% | 0.16% | +0.08% |
Volatility
BGCIX vs. GMODX - Volatility Comparison
BlackRock Global Long/Short Credit Fund (BGCIX) and GMO Opportunistic Income Fund (GMODX) have volatilities of 0.42% and 0.42%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BGCIX | GMODX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.42% | 0.42% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 1.00% | 0.95% | +0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.38% | 1.33% | +0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.90% | 3.83% | -1.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.15% | 3.04% | +0.11% |
BGCIX vs. GMODX - Expense Ratio Comparison
BGCIX has a 1.12% expense ratio, which is higher than GMODX's 0.47% expense ratio.
Dividends
BGCIX vs. GMODX - Dividend Comparison
BGCIX's dividend yield for the trailing twelve months is around 5.74%, more than GMODX's 5.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BGCIX BlackRock Global Long/Short Credit Fund | 5.74% | 5.83% | 7.13% | 3.33% | 8.25% | 3.57% | 9.87% | 3.75% | 6.01% | 1.16% | 0.00% | 5.11% |
GMODX GMO Opportunistic Income Fund | 5.01% | 4.99% | 5.28% | 6.17% | 5.44% | 2.10% | 4.15% | 5.69% | 4.35% | 2.66% | 2.55% | 1.71% |
Frequently Asked Questions
BGCIX and GMODX have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GMODX has higher volatility (0.42%) compared to BGCIX (0.42%). In terms of maximum drawdown, BGCIX dropped -10.37% vs GMODX's -8.79%.
BGCIX currently has the higher Sharpe Ratio (3.34 vs 3.30), 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.
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