FRGN vs. GMOI

Last updated Jun 5, 2026

FRGN (Horizon International Equity ETF) and GMOI (GMO International Value ETF) are both Foreign Large Cap Equities funds. FRGN is actively managed, while GMOI is passively managed. A 0.77 correlation means they provide meaningful diversification when combined. FRGN charges 0.75%/yr vs 0.60%/yr for GMOI.

Performance

FRGN vs. GMOI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon International Equity ETF (FRGN) and GMO International Value ETF (GMOI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FRGN achieves a 24.67% return, which is significantly higher than GMOI's 13.97% return.

FRGN

• 1D: 0.26%
• 1M: 5.99%
• YTD: 24.67%
• 6M: 26.59%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GMOI

• 1D: 0.82%
• 1M: 2.57%
• YTD: 13.97%
• 6M: 17.28%
• 1Y: 37.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FRGN vs. GMOI - Yearly Performance Comparison

	2026 (YTD)	2025
FRGN Horizon International Equity ETF	24.67%	1.47%
GMOI GMO International Value ETF	13.97%	3.50%

Correlation

The correlation between FRGN and GMOI is 0.77, 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 Dec 4, 2025	0.77

Return for Risk

FRGN vs. GMOI — Risk / Return Rank

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

GMOI

GMOI Risk / Return Rank: 86
GMOI Sharpe Ratio Rank: 87
GMOI Sortino Ratio Rank: 88
GMOI Omega Ratio Rank: 85
GMOI Calmar Ratio Rank: 84
GMOI Martin Ratio Rank: 86

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.

FRGN vs. GMOI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon International Equity ETF (FRGN) and GMO International Value ETF (GMOI). 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.

Sharpe Ratios by Period

	FRGN	GMOI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.88	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.86	2.17	+0.70

Drawdowns

FRGN vs. GMOI - Drawdown Comparison

The maximum FRGN drawdown since its inception was -12.40%, smaller than the maximum GMOI drawdown of -14.67%. Use the drawdown chart below to compare losses from any high point for FRGN and GMOI.

Drawdown Indicators

	FRGN	GMOI	Difference
Max Drawdown Largest peak-to-trough decline	-12.40%	-14.67%	+2.27%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.36%	—
Current Drawdown Current decline from peak	-0.44%	-0.18%	-0.26%
Average Drawdown Average peak-to-trough decline	-2.39%	-1.70%	-0.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.11%	—

Volatility

Volatility by Period

	FRGN	GMOI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.88%	—
Volatility (6M) Calculated over the trailing 6-month period	—	10.29%	—
Volatility (1Y) Calculated over the trailing 1-year period	21.25%	13.15%	+8.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.25%	15.58%	+5.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.25%	15.58%	+5.67%

FRGN vs. GMOI - Expense Ratio Comparison

FRGN has a 0.75% expense ratio, which is higher than GMOI's 0.60% expense ratio.

Dividends

FRGN vs. GMOI - Dividend Comparison

FRGN's dividend yield for the trailing twelve months is around 0.20%, less than GMOI's 2.40% yield.

Position	TTM	2025	2024
FRGN Horizon International Equity ETF	0.20%	0.25%	0.00%
GMOI GMO International Value ETF	2.40%	2.74%	0.54%

Frequently Asked Questions

Can I hold both FRGN and GMOI in my portfolio?

FRGN and GMOI have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FRGN or GMOI?

On fees, GMOI is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FRGN or GMOI?

GMOI is cheaper with a 0.60% expense ratio, compared with 0.75% for FRGN.

Which ETF pays a higher dividend yield, FRGN or GMOI?

GMOI has the higher dividend yield at 2.40%, compared with 0.20% for FRGN.

What is the main difference between FRGN and GMOI?

They also come from different issuers: Horizon and GMO. Their fees differ too: 0.75% for FRGN and 0.60% for GMOI.