GBATX vs. GWOAX
GBATX (GMO Strategic Opportunities Allocation Fund) and GWOAX (GMO Global Developed Equity Allocation Fund) are both mutual funds - GBATX is a Global Allocation fund managed by GMO, while GWOAX is a Global Equities fund managed by GMO. Over the past 10 years, GBATX returned 9.20%/yr vs 12.15%/yr for GWOAX. Their 0.98 correlation means they have historically moved very closely together. GBATX charges 0.32%/yr vs 0.01%/yr for GWOAX.
Performance
GBATX vs. GWOAX - Performance Comparison
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Returns By Period
In the year-to-date period, GBATX achieves a 14.18% return, which is significantly lower than GWOAX's 17.69% return. Over the past 10 years, GBATX has underperformed GWOAX with an annualized return of 9.20%, while GWOAX has yielded a comparatively higher 12.15% annualized return.
GBATX
- 1D
- 0.25%
- 1M
- 2.24%
- 6M
- 8.50%
- YTD
- 14.18%
- 1Y
- 28.22%
- 3Y*
- 16.82%
- 5Y*
- 9.75%
- 10Y*
- 9.20%
- ALL TIME*
- 7.72%
GWOAX
- 1D
- 0.00%
- 1M
- 2.23%
- 6M
- 11.02%
- YTD
- 17.69%
- 1Y
- 35.41%
- 3Y*
- 18.96%
- 5Y*
- 11.65%
- 10Y*
- 12.15%
- ALL TIME*
- 8.29%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
GBATX vs. GWOAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GBATX GMO Strategic Opportunities Allocation Fund | 14.18% | 24.71% | 5.50% | 17.36% | -11.27% | 12.12% | 4.83% | 19.59% | -9.41% | 19.30% |
GWOAX GMO Global Developed Equity Allocation Fund | 17.69% | 28.37% | 6.14% | 22.49% | -14.10% | 18.53% | 10.53% | 26.56% | -12.95% | 25.63% |
Correlation
The correlation between GBATX and GWOAX is 0.97 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.97 |
Correlation (3Y) Balances recent behavior with more history. | 0.97 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.97 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.97 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2006 | 0.98 |
The correlation between GBATX and GWOAX has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.
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Return for Risk
GBATX vs. GWOAX — Risk / Return Rank
GBATX
GWOAX
GBATX vs. GWOAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GMO Strategic Opportunities Allocation Fund (GBATX) and GMO Global Developed Equity Allocation Fund (GWOAX). 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.
| GBATX | GWOAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.21 | ||
| Sortino ratioReturn per unit of downside risk | +0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 1.49 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.99 | 3.96 | +0.03 |
| Martin ratioReturn relative to average drawdown | 14.95 | 15.74 | -0.79 |
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Drawdowns
GBATX vs. GWOAX - Drawdown Comparison
The maximum GBATX drawdown since its inception was -35.37%, smaller than the maximum GWOAX drawdown of -49.84%. Use the drawdown chart below to compare losses from any high point for GBATX and GWOAX.
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Drawdown Indicators
| GBATX | GWOAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.37% | -49.84% | +14.47% |
Max Drawdown (1Y)Largest decline over 1 year | -7.06% | -8.78% | +1.72% |
Max Drawdown (3Y)Largest decline over 3 years | -9.98% | -16.11% | +6.13% |
Max Drawdown (5Y)Largest decline over 5 years | -22.58% | -26.21% | +3.63% |
Max Drawdown (10Y)Largest decline over 10 years | -29.68% | -35.28% | +5.60% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -5.54% | -8.93% | +3.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.88% | 2.21% | -0.33% |
Volatility
GBATX vs. GWOAX - Volatility Comparison
The current volatility for GMO Strategic Opportunities Allocation Fund (GBATX) is 2.42%, while GMO Global Developed Equity Allocation Fund (GWOAX) has a volatility of 3.20%. This indicates that GBATX experiences smaller price fluctuations and is considered to be less risky than GWOAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GBATX | GWOAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.42% | 3.20% | -0.78% |
Volatility (6M)Calculated over the trailing 6-month period | 7.82% | 10.20% | -2.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.67% | 12.88% | -3.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.07% | 15.22% | -4.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.01% | 16.39% | -4.38% |
GBATX vs. GWOAX - Expense Ratio Comparison
GBATX has a 0.32% expense ratio, which is higher than GWOAX's 0.01% expense ratio.
Dividends
GBATX vs. GWOAX - Dividend Comparison
GBATX's dividend yield for the trailing twelve months is around 15.35%, more than GWOAX's 5.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GBATX GMO Strategic Opportunities Allocation Fund | 15.35% | 13.65% | 5.97% | 6.04% | 10.08% | 24.22% | 4.29% | 5.17% | 9.77% | 2.98% | 2.84% | 9.67% |
GWOAX GMO Global Developed Equity Allocation Fund | 5.37% | 4.46% | 0.60% | 6.10% | 7.27% | 12.75% | 3.85% | 4.33% | 3.02% | 3.05% | 6.43% | 12.47% |
Frequently Asked Questions
With a correlation of 0.97, GBATX and GWOAX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
GWOAX has higher volatility (3.20%) compared to GBATX (2.42%). In terms of maximum drawdown, GBATX dropped -35.37% vs GWOAX's -49.84%.
GBATX currently has the higher Sharpe Ratio (2.92 vs 2.71), 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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