CORO vs. GMMA

Last updated Jun 3, 2026

CORO (iShares International Country Rotation Active ETF) and GMMA (GammaRoad Market Navigation ETF) are both Tactical Allocation funds. CORO is actively managed, while GMMA is passively managed. Over the past year, CORO returned 38.35% vs 11.56% for GMMA. A 0.61 correlation means they provide meaningful diversification when combined. CORO charges 0.55%/yr vs 0.75%/yr for GMMA.

Performance

CORO vs. GMMA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares International Country Rotation Active ETF (CORO) and GammaRoad Market Navigation ETF (GMMA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CORO achieves a 18.94% return, which is significantly higher than GMMA's 4.04% return.

CORO

• 1D: 0.68%
• 1M: 6.27%
• YTD: 18.94%
• 6M: 21.98%
• 1Y: 38.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GMMA

• 1D: 0.02%
• 1M: 3.51%
• YTD: 4.04%
• 6M: 4.35%
• 1Y: 11.56%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CORO vs. GMMA - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CORO iShares International Country Rotation Active ETF	18.94%	35.09%	-3.56%
GMMA GammaRoad Market Navigation ETF	4.04%	8.95%	-4.22%

Correlation

The correlation between CORO and GMMA is 0.71, 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	0.71
Correlation (All Time) Calculated using the full available price history since Dec 5, 2024	0.61

The correlation between CORO and GMMA shifts across timeframes, from 0.61 (all time) to 0.71 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

CORO vs. GMMA — Risk / Return Rank

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

CORO

CORO Risk / Return Rank: 73
CORO Sharpe Ratio Rank: 76
CORO Sortino Ratio Rank: 73
CORO Omega Ratio Rank: 76
CORO Calmar Ratio Rank: 69
CORO Martin Ratio Rank: 73

GMMA

GMMA Risk / Return Rank: 67
GMMA Sharpe Ratio Rank: 64
GMMA Sortino Ratio Rank: 66
GMMA Omega Ratio Rank: 71
GMMA Calmar Ratio Rank: 69
GMMA Martin Ratio Rank: 66

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.

CORO vs. GMMA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares International Country Rotation Active ETF (CORO) 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.

	CORO	GMMA	Difference
Sharpe ratio Return per unit of total volatility	2.50	2.19	+0.31
Sortino ratio Return per unit of downside risk	3.37	3.12	+0.25
Omega ratio Gain probability vs. loss probability	1.46	1.43	+0.02
Calmar ratio Return relative to maximum drawdown	3.53	3.49	+0.03
Martin ratio Return relative to average drawdown	14.13	12.20	+1.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CORO vs. GMMA - Sharpe Ratio Comparison

The current CORO Sharpe Ratio is 2.50, which is comparable to the GMMA Sharpe Ratio of 2.19. The chart below compares the historical Sharpe Ratios of CORO and GMMA, 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

	CORO	GMMA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.50	2.19	+0.31
Sharpe Ratio (All Time) Calculated using the full available price history	2.08	1.13	+0.95

Drawdowns

CORO vs. GMMA - Drawdown Comparison

The maximum CORO drawdown since its inception was -14.13%, which is greater than GMMA's maximum drawdown of -5.21%. Use the drawdown chart below to compare losses from any high point for CORO and GMMA.

Drawdown Indicators

	CORO	GMMA	Difference
Max Drawdown Largest peak-to-trough decline	-14.13%	-5.21%	-8.92%
Max Drawdown (1Y) Largest decline over 1 year	-11.25%	-3.39%	-7.86%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-1.74%	-1.23%	-0.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.81%	0.97%	+1.84%

Volatility

CORO vs. GMMA - Volatility Comparison

iShares International Country Rotation Active ETF (CORO) has a higher volatility of 5.36% compared to GammaRoad Market Navigation ETF (GMMA) at 1.86%. This indicates that CORO's price experiences larger fluctuations and is considered to be riskier than GMMA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CORO	GMMA	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.36%	1.86%	+3.50%
Volatility (6M) Calculated over the trailing 6-month period	13.18%	4.06%	+9.12%
Volatility (1Y) Calculated over the trailing 1-year period	15.43%	5.30%	+10.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.66%	7.10%	+9.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.66%	7.10%	+9.56%

CORO vs. GMMA - Expense Ratio Comparison

CORO has a 0.55% expense ratio, which is lower than GMMA's 0.75% expense ratio.

Dividends

CORO vs. GMMA - Dividend Comparison

CORO's dividend yield for the trailing twelve months is around 2.69%, less than GMMA's 3.63% yield.

Position	TTM	2025	2024
CORO iShares International Country Rotation Active ETF	2.69%	3.20%	1.53%
GMMA GammaRoad Market Navigation ETF	3.63%	3.00%	0.57%

Frequently Asked Questions

Can I hold both CORO and GMMA in my portfolio?

CORO and GMMA have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CORO or GMMA?

CORO has higher volatility (5.36%) compared to GMMA (1.86%). In terms of maximum drawdown, CORO dropped -14.13% vs GMMA's -5.21%.

Which ETF is better, CORO or GMMA?

On 1-year performance, CORO leads with 38.35% vs 11.56% for GMMA. On fees, CORO is cheaper at 0.55% per year. On volatility, GMMA has been the lower-risk option at 1.86%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CORO or GMMA?

Over the 1-year period, CORO has performed better with a 38.35% return vs 11.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CORO or GMMA?

CORO is cheaper with a 0.55% expense ratio, compared with 0.75% for GMMA.

Which ETF pays a higher dividend yield, CORO or GMMA?

GMMA has the higher dividend yield at 3.63%, compared with 2.69% for CORO.

What is the main difference between CORO and GMMA?

They also come from different issuers: iShares and GammaRoad Capital Partners. Their fees differ too: 0.55% for CORO and 0.75% for GMMA.

Which has better risk-adjusted returns?

CORO currently has the higher Sharpe Ratio (2.50 vs 2.19), 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.