FFACX vs. GBMFX

Last updated Jun 23, 2026

FFACX (Franklin Global Allocation Fund Class C) and GBMFX (GMO Benchmark-Free Allocation Fund) are both Global Allocation funds. Over the past 10 years, FFACX returned 6.79%/yr vs 6.82%/yr for GBMFX. A 0.78 correlation means they provide meaningful diversification when combined. FFACX charges 1.74%/yr vs 0.74%/yr for GBMFX.

Performance

FFACX vs. GBMFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Global Allocation Fund Class C (FFACX) and GMO Benchmark-Free Allocation Fund (GBMFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FFACX achieves a 7.78% return, which is significantly lower than GBMFX's 10.32% return. Both investments have delivered pretty close results over the past 10 years, with FFACX having a 6.79% annualized return and GBMFX not far ahead at 6.82%.

FFACX

• 1D: 0.84%
• 1M: 1.23%
• YTD: 7.78%
• 6M: 7.65%
• 1Y: 19.08%
• 3Y*: 13.35%
• 5Y*: 7.61%
• 10Y*: 6.79%

GBMFX

• 1D: 0.09%
• 1M: 0.12%
• YTD: 10.32%
• 6M: 11.01%
• 1Y: 26.52%
• 3Y*: 15.16%
• 5Y*: 8.86%
• 10Y*: 6.82%

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

FFACX vs. GBMFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FFACX Franklin Global Allocation Fund Class C	7.78%	15.09%	12.06%	11.99%	-12.43%	10.89%	0.71%	16.90%	-10.54%	10.44%
GBMFX GMO Benchmark-Free Allocation Fund	10.32%	22.89%	4.33%	13.46%	-2.24%	2.97%	-2.50%	11.62%	-5.36%	13.05%

Correlation

The correlation between FFACX and GBMFX is 0.73, 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	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (10Y) Calculated over the trailing 10-year period	0.71
Correlation (All Time) Calculated using the full available price history since Aug 20, 2003	0.78

The correlation between FFACX and GBMFX has been stable across timeframes, ranging from 0.69 to 0.78 - a consistent structural relationship.

Return for Risk

FFACX vs. GBMFX — Risk / Return Rank

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

FFACX

FFACX Risk / Return Rank: 60
FFACX Sharpe Ratio Rank: 58
FFACX Sortino Ratio Rank: 58
FFACX Omega Ratio Rank: 59
FFACX Calmar Ratio Rank: 57
FFACX Martin Ratio Rank: 68

GBMFX

GBMFX Risk / Return Rank: 94
GBMFX Sharpe Ratio Rank: 98
GBMFX Sortino Ratio Rank: 96
GBMFX Omega Ratio Rank: 94
GBMFX Calmar Ratio Rank: 91
GBMFX Martin Ratio Rank: 91

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.

FFACX vs. GBMFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Global Allocation Fund Class C (FFACX) and GMO Benchmark-Free Allocation Fund (GBMFX). 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.

	FFACX	GBMFX	Difference
Sharpe ratio: Return per unit of total volatility	2.07	3.59	-1.53
Sortino ratio: Return per unit of downside risk	2.94	5.15	-2.22
Omega ratio: Gain probability vs. loss probability	1.39	1.71	-0.33
Calmar ratio: Return relative to maximum drawdown	2.78	4.55	-1.76
Martin ratio: Return relative to average drawdown	12.24	17.22	-4.98

FFACX vs. GBMFX - Sharpe Ratio Comparison

The current FFACX Sharpe Ratio is 2.07, which is lower than the GBMFX Sharpe Ratio of 3.59. The chart below compares the historical Sharpe Ratios of FFACX and GBMFX, 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

FFACX vs. GBMFX - Drawdown Comparison

The maximum FFACX drawdown since its inception was -53.66%, which is greater than GBMFX's maximum drawdown of -23.40%. Use the drawdown chart below to compare losses from any high point for FFACX and GBMFX.

Drawdown Indicators

	FFACX	GBMFX	Difference
Max Drawdown Largest peak-to-trough decline	-53.66%	-23.40%	-30.26%
Max Drawdown (1Y) Largest decline over 1 year	-6.75%	-5.78%	-0.97%
Max Drawdown (3Y) Largest decline over 3 years	-10.99%	-7.16%	-3.83%
Max Drawdown (5Y) Largest decline over 5 years	-18.76%	-13.20%	-5.56%
Max Drawdown (10Y) Largest decline over 10 years	-30.23%	-23.40%	-6.83%
Current Drawdown Current decline from peak	-0.17%	-1.47%	+1.30%
Average Drawdown Average peak-to-trough decline	-7.95%	-3.27%	-4.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.53%	1.52%	+0.01%

Volatility

FFACX vs. GBMFX - Volatility Comparison

Franklin Global Allocation Fund Class C (FFACX) has a higher volatility of 3.58% compared to GMO Benchmark-Free Allocation Fund (GBMFX) at 2.35%. This indicates that FFACX's price experiences larger fluctuations and is considered to be riskier than GBMFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFACX	GBMFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.58%	2.35%	+1.23%
Volatility (6M) Calculated over the trailing 6-month period	7.68%	5.77%	+1.91%
Volatility (1Y) Calculated over the trailing 1-year period	9.10%	7.32%	+1.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.09%	7.33%	+2.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.48%	8.01%	+3.47%

FFACX vs. GBMFX - Expense Ratio Comparison

FFACX has a 1.74% expense ratio, which is higher than GBMFX's 0.74% expense ratio.

Dividends

FFACX vs. GBMFX - Dividend Comparison

FFACX's dividend yield for the trailing twelve months is around 4.42%, more than GBMFX's 3.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FFACX Franklin Global Allocation Fund Class C	4.42%	4.52%	0.39%	0.90%	3.57%	0.45%	6.72%	2.24%	2.38%	2.21%	1.48%	2.17%
GBMFX GMO Benchmark-Free Allocation Fund	3.77%	4.16%	5.14%	5.64%	3.20%	2.46%	3.73%	3.35%	3.67%	2.39%	1.60%	2.10%

Frequently Asked Questions

Can I hold both FFACX and GBMFX in my portfolio?

FFACX and GBMFX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FFACX or GBMFX?

FFACX has higher volatility (3.58%) compared to GBMFX (2.35%). In terms of maximum drawdown, FFACX dropped -53.66% vs GBMFX's -23.40%.

Which has better risk-adjusted returns?

GBMFX currently has the higher Sharpe Ratio (3.59 vs 2.07), 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.