GABFX vs. BOND
GABFX (GMO Asset Allocation Bond Fund) and BOND (PIMCO Active Bond ETF) are both funds - GABFX is a Inflation-Protected Bonds fund managed by GMO, while BOND is a Intermediate Core-Plus Bond fund actively managed by PIMCO. Over the past 10 years, GABFX returned 0.17%/yr vs 1.96%/yr for BOND. Their 0.64 correlation means they have sometimes moved together and sometimes differently. GABFX charges 0.32%/yr vs 0.54%/yr for BOND.
Performance
GABFX vs. BOND - Performance Comparison
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Returns By Period
In the year-to-date period, GABFX achieves a -6.32% return, which is significantly lower than BOND's -0.31% return. Over the past 10 years, GABFX has underperformed BOND with an annualized return of 0.17%, while BOND has yielded a comparatively higher 1.96% annualized return.
GABFX
- 1D
- -0.51%
- 1M
- -2.02%
- 6M
- -5.61%
- YTD
- -6.32%
- 1Y
- -4.62%
- 3Y*
- -1.49%
- 5Y*
- -4.23%
- 10Y*
- 0.17%
- ALL TIME*
- 0.99%
BOND
- 1D
- -0.33%
- 1M
- -1.43%
- 6M
- -0.84%
- YTD
- -0.31%
- 1Y
- 3.01%
- 3Y*
- 4.85%
- 5Y*
- 0.00%
- 10Y*
- 1.96%
- ALL TIME*
- 2.88%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $46.87M | $49.77M | $50.25M | |
| $0.00 | $0.00 | $0.00 |
GABFX vs. BOND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GABFX GMO Asset Allocation Bond Fund | -6.32% | 8.82% | -12.60% | 8.33% | -14.86% | 1.34% | 11.28% | 8.00% | 0.78% | 2.41% |
BOND PIMCO Active Bond ETF | -0.31% | 8.39% | 2.77% | 6.48% | -14.57% | -0.77% | 7.80% | 8.54% | 0.08% | 4.76% |
Correlation
The correlation between GABFX and BOND is 0.90, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.90 |
Correlation (3Y) Balances recent behavior with more history. | 0.90 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.88 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.81 |
Correlation (All Time) Calculated using the full available price history since Mar 1, 2012 | 0.64 |
Over the past year, GABFX and BOND have become more correlated (0.90) than their long-term average of 0.64, meaning their price movements have been converging.
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Return for Risk
GABFX vs. BOND — Risk / Return Rank
GABFX
BOND
GABFX vs. BOND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GMO Asset Allocation Bond Fund (GABFX) and PIMCO Active Bond ETF (BOND). 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.
| GABFX | BOND | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.16 | ||
| Sortino ratioReturn per unit of downside risk | -1.61 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.17 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | -0.19 | 1.28 | -1.47 |
| Martin ratioReturn relative to average drawdown | -0.41 | 3.47 | -3.88 |
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Drawdowns
GABFX vs. BOND - Drawdown Comparison
The maximum GABFX drawdown since its inception was -27.84%, which is greater than BOND's maximum drawdown of -19.71%. Use the drawdown chart below to compare losses from any high point for GABFX and BOND.
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Drawdown Indicators
| GABFX | BOND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.84% | -19.71% | -8.13% |
Max Drawdown (1Y)Largest decline over 1 year | -10.10% | -3.01% | -7.09% |
Max Drawdown (3Y)Largest decline over 3 years | -19.48% | -5.21% | -14.27% |
Max Drawdown (5Y)Largest decline over 5 years | -27.81% | -19.71% | -8.10% |
Max Drawdown (10Y)Largest decline over 10 years | -27.84% | -19.71% | -8.13% |
Current DrawdownCurrent decline from peak | -19.81% | -2.34% | -17.47% |
Average DrawdownAverage peak-to-trough decline | -7.40% | -3.48% | -3.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.70% | 1.11% | +3.59% |
Volatility
GABFX vs. BOND - Volatility Comparison
GMO Asset Allocation Bond Fund (GABFX) has a higher volatility of 2.17% compared to PIMCO Active Bond ETF (BOND) at 1.15%. This indicates that GABFX's price experiences larger fluctuations and is considered to be riskier than BOND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GABFX | BOND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.17% | 1.15% | +1.02% |
Volatility (6M)Calculated over the trailing 6-month period | 6.62% | 3.22% | +3.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.70% | 4.01% | +5.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.06% | 5.80% | +8.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.39% | 5.10% | +5.29% |
GABFX vs. BOND - Expense Ratio Comparison
GABFX has a 0.32% expense ratio, which is lower than BOND's 0.54% expense ratio.
Dividends
GABFX vs. BOND - Dividend Comparison
GABFX's dividend yield for the trailing twelve months is around 2.93%, less than BOND's 5.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BOND PIMCO Active Bond ETF | 4.81% | 5.11% | 5.02% | 4.06% | 3.44% | 2.58% | 2.66% | 3.38% | 3.18% | 2.87% | 2.85% | 4.14% |
GABFX GMO Asset Allocation Bond Fund | 2.93% | 2.69% | 4.19% | 5.03% | 0.71% | 1.81% | 1.20% | 4.72% | 5.13% | 1.07% | 0.00% | 7.43% |
Frequently Asked Questions
GABFX and BOND have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GABFX has higher volatility (2.17%) compared to BOND (1.15%). In terms of maximum drawdown, GABFX dropped -27.84% vs BOND's -19.71%.
BOND currently has the higher Sharpe Ratio (0.96 vs -0.20), 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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