FATRX vs. GUGAX

Last updated Jul 29, 2026

FATRX (Frost Total Return Bond Fund Investor Class) and GUGAX (GMO Multi-Sector Fixed Income Fund) are both Intermediate Core-Plus Bond funds. Over the past 10 years, FATRX returned 3.14%/yr vs 1.33%/yr for GUGAX. Their 0.71 correlation means they have sometimes moved together and sometimes differently. FATRX charges 0.71%/yr vs 0.45%/yr for GUGAX.

Performance

FATRX vs. GUGAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Frost Total Return Bond Fund Investor Class (FATRX) and GMO Multi-Sector Fixed Income Fund (GUGAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FATRX achieves a 0.56% return, which is significantly lower than GUGAX's 0.96% return. Over the past 10 years, FATRX has outperformed GUGAX with an annualized return of 3.14%, while GUGAX has yielded a comparatively lower 1.33% annualized return.

FATRX

• 1D: 0.32%
• 1M: -1.02%
• 6M: 0.15%
• YTD: 0.56%
• 1Y: 3.45%
• 3Y*: 5.70%
• 5Y*: 3.02%
• 10Y*: 3.14%
• ALL TIME*: 4.51%

GUGAX

• 1D: 0.00%
• 1M: 0.00%
• 6M: 0.32%
• YTD: 0.96%
• 1Y: 4.55%
• 3Y*: 4.17%
• 5Y*: -0.71%
• 10Y*: 1.33%
• ALL TIME*: 0.48%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FATRX Frost Total Return Bond Fund Investor Class	$0.00	$0.00	$0.00
GUGAX GMO Multi-Sector Fixed Income Fund	$0.00	$0.00	$0.00

FATRX vs. GUGAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FATRX Frost Total Return Bond Fund Investor Class	0.56%	5.53%	6.17%	8.41%	-5.45%	3.10%	3.24%	5.10%	1.23%	4.18%
GUGAX GMO Multi-Sector Fixed Income Fund	0.96%	7.29%	0.96%	6.02%	-14.52%	-3.17%	4.91%	9.66%	2.13%	4.44%

Correlation

The correlation between FATRX and GUGAX is 0.55, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.55
Correlation (3Y) Balances recent behavior with more history.	0.83
Correlation (5Y) Shows whether the relationship held over a longer period.	0.84
Correlation (10Y) Provides a long-term view across more market conditions.	0.77
Correlation (All Time) Calculated using the full available price history since Jul 1, 2008	0.71

The correlation between FATRX and GUGAX shifts across timeframes, from 0.55 (1 year) to 0.84 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

FATRX vs. GUGAX — Risk / Return Rank

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

FATRX

FATRX Risk / Return Rank: 32
FATRX Sharpe Ratio Rank: 32
FATRX Sortino Ratio Rank: 32
FATRX Omega Ratio Rank: 30
FATRX Calmar Ratio Rank: 37
FATRX Martin Ratio Rank: 29

GUGAX

GUGAX Risk / Return Rank: 90
GUGAX Sharpe Ratio Rank: 81
GUGAX Sortino Ratio Rank: 89
GUGAX Omega Ratio Rank: 89
GUGAX Calmar Ratio Rank: 97
GUGAX Martin Ratio Rank: 93

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.

FATRX vs. GUGAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Frost Total Return Bond Fund Investor Class (FATRX) and GMO Multi-Sector Fixed Income Fund (GUGAX). 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.

	FATRX	GUGAX	Difference
Sharpe ratio: Return per unit of total volatility	1.04	1.93	-0.89
Sortino ratio: Return per unit of downside risk	1.53	3.31	-1.77
Omega ratio: Gain probability vs. loss probability	1.18	1.48	-0.29
Calmar ratio: Return relative to maximum drawdown	1.57	4.95	-3.38
Martin ratio: Return relative to average drawdown	4.26	13.96	-9.69

FATRX vs. GUGAX - Sharpe Ratio Comparison

The current FATRX Sharpe Ratio is 1.04, which is lower than the GUGAX Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of FATRX and GUGAX, 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

FATRX vs. GUGAX - Drawdown Comparison

The maximum FATRX drawdown since its inception was -11.61%, smaller than the maximum GUGAX drawdown of -38.57%. Use the drawdown chart below to compare losses from any high point for FATRX and GUGAX.

Drawdown Indicators

	FATRX	GUGAX	Difference
Max Drawdown Largest peak-to-trough decline	-11.61%	-38.57%	+26.96%
Max Drawdown (1Y) Largest decline over 1 year	-2.15%	-1.00%	-1.15%
Max Drawdown (3Y) Largest decline over 3 years	-3.59%	-5.81%	+2.22%
Max Drawdown (5Y) Largest decline over 5 years	-7.72%	-20.53%	+12.81%
Max Drawdown (10Y) Largest decline over 10 years	-11.61%	-23.06%	+11.45%
Current Drawdown Current decline from peak	-1.18%	-6.72%	+5.54%
Average Drawdown Average peak-to-trough decline	-1.06%	-11.25%	+10.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.79%	0.38%	+0.41%

Volatility

FATRX vs. GUGAX - Volatility Comparison

Frost Total Return Bond Fund Investor Class (FATRX) has a higher volatility of 0.93% compared to GMO Multi-Sector Fixed Income Fund (GUGAX) at 0.00%. This indicates that FATRX's price experiences larger fluctuations and is considered to be riskier than GUGAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FATRX	GUGAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.93%	0.00%	+0.93%
Volatility (6M) Calculated over the trailing 6-month period	2.52%	1.03%	+1.49%
Volatility (1Y) Calculated over the trailing 1-year period	3.24%	2.57%	+0.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.73%	6.57%	-2.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.23%	5.42%	-2.19%

FATRX vs. GUGAX - Expense Ratio Comparison

FATRX has a 0.71% expense ratio, which is higher than GUGAX's 0.45% expense ratio.

Dividends

FATRX vs. GUGAX - Dividend Comparison

FATRX's dividend yield for the trailing twelve months is around 5.60%, more than GUGAX's 3.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FATRX Frost Total Return Bond Fund Investor Class	5.60%	5.31%	4.98%	5.31%	4.43%	3.06%	3.58%	3.53%	3.38%	3.44%	3.79%	3.89%
GUGAX GMO Multi-Sector Fixed Income Fund	3.45%	3.69%	4.34%	0.00%	1.94%	2.90%	7.96%	5.74%	5.08%	2.43%	3.29%	1.76%

Frequently Asked Questions

Can I hold both FATRX and GUGAX in my portfolio?

FATRX and GUGAX have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FATRX or GUGAX?

FATRX has higher volatility (0.93%) compared to GUGAX (0.00%). In terms of maximum drawdown, FATRX dropped -11.61% vs GUGAX's -38.57%.

Which has better risk-adjusted returns?

GUGAX currently has the higher Sharpe Ratio (1.93 vs 1.04), 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.