GDO vs. CCI

Last updated Jun 24, 2026

GDO (Western Asset Global Corporate Defined Opportunity Fund Inc) is Corporate Bonds fund managed by Franklin Templeton, while CCI (Crown Castle Inc.) is a stock. Over the past 10 years, GDO returned 4.32%/yr vs 2.89%/yr for CCI. At a 0.20 correlation, their price movements are largely independent.

Performance

GDO vs. CCI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Western Asset Global Corporate Defined Opportunity Fund Inc (GDO) and Crown Castle Inc. (CCI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GDO achieves a -4.27% return, which is significantly lower than CCI's -2.80% return. Over the past 10 years, GDO has outperformed CCI with an annualized return of 4.32%, while CCI has yielded a comparatively lower 2.89% annualized return.

GDO

• 1D: 0.40%
• 1M: 0.12%
• YTD: -4.27%
• 6M: -4.37%
• 1Y: 4.03%
• 3Y*: 7.16%
• 5Y*: -0.32%
• 10Y*: 4.32%

CCI

• 1D: 1.46%
• 1M: -6.72%
• YTD: -2.80%
• 6M: -1.19%
• 1Y: -13.80%
• 3Y*: -3.19%
• 5Y*: -11.35%
• 10Y*: 2.89%

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

GDO vs. CCI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GDO Western Asset Global Corporate Defined Opportunity Fund Inc	-4.27%	18.25%	-0.79%	10.39%	-20.30%	3.38%	6.82%	30.72%	-10.12%	13.48%
CCI Crown Castle Inc.	-2.80%	2.96%	-16.39%	-10.24%	-32.57%	35.08%	15.49%	35.45%	1.75%	32.97%

Correlation

The correlation between GDO and CCI is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (5Y) Calculated over the trailing 5-year period	0.21
Correlation (10Y) Calculated over the trailing 10-year period	0.19
Correlation (All Time) Calculated using the full available price history since Nov 24, 2009	0.20

The correlation between GDO and CCI shifts across timeframes, from 0.11 (1 year) to 0.21 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

GDO vs. CCI — Risk / Return Rank

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

GDO

GDO Risk / Return Rank: 6
GDO Sharpe Ratio Rank: 7
GDO Sortino Ratio Rank: 6
GDO Omega Ratio Rank: 6
GDO Calmar Ratio Rank: 6
GDO Martin Ratio Rank: 6

CCI

CCI Risk / Return Rank: 23
CCI Sharpe Ratio Rank: 20
CCI Sortino Ratio Rank: 20
CCI Omega Ratio Rank: 21
CCI Calmar Ratio Rank: 27
CCI Martin Ratio Rank: 28

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.

GDO vs. CCI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Western Asset Global Corporate Defined Opportunity Fund Inc (GDO) and Crown Castle Inc. (CCI). 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.

	GDO	CCI	Difference
Sharpe ratio: Return per unit of total volatility	0.49	-0.50	+0.99
Sortino ratio: Return per unit of downside risk	0.75	-0.54	+1.29
Omega ratio: Gain probability vs. loss probability	1.09	0.94	+0.16
Calmar ratio: Return relative to maximum drawdown	0.49	-0.46	+0.95
Martin ratio: Return relative to average drawdown	1.37	-0.76	+2.13

GDO vs. CCI - Sharpe Ratio Comparison

The current GDO Sharpe Ratio is 0.49, which is higher than the CCI Sharpe Ratio of -0.50. The chart below compares the historical Sharpe Ratios of GDO and CCI, 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

GDO vs. CCI - Drawdown Comparison

The maximum GDO drawdown since its inception was -34.61%, smaller than the maximum CCI drawdown of -97.52%. Use the drawdown chart below to compare losses from any high point for GDO and CCI.

Drawdown Indicators

	GDO	CCI	Difference
Max Drawdown Largest peak-to-trough decline	-34.61%	-97.52%	+62.91%
Max Drawdown (1Y) Largest decline over 1 year	-8.28%	-30.01%	+21.73%
Max Drawdown (3Y) Largest decline over 3 years	-13.18%	-30.77%	+17.59%
Max Drawdown (5Y) Largest decline over 5 years	-34.61%	-55.48%	+20.87%
Max Drawdown (10Y) Largest decline over 10 years	-34.61%	-55.48%	+20.87%
Current Drawdown Current decline from peak	-4.85%	-49.36%	+44.51%
Average Drawdown Average peak-to-trough decline	-6.66%	-25.94%	+19.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.95%	18.12%	-15.17%

Volatility

GDO vs. CCI - Volatility Comparison

The current volatility for Western Asset Global Corporate Defined Opportunity Fund Inc (GDO) is 2.07%, while Crown Castle Inc. (CCI) has a volatility of 9.48%. This indicates that GDO experiences smaller price fluctuations and is considered to be less risky than CCI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GDO	CCI	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.07%	9.48%	-7.41%
Volatility (6M) Calculated over the trailing 6-month period	6.28%	23.26%	-16.98%
Volatility (1Y) Calculated over the trailing 1-year period	8.30%	27.61%	-19.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.29%	26.75%	-14.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.30%	26.07%	-12.77%

Dividends

GDO vs. CCI - Dividend Comparison

GDO's dividend yield for the trailing twelve months is around 13.84%, more than CCI's 5.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CCI Crown Castle Inc.	5.04%	5.35%	6.90%	5.43%	4.41%	2.62%	3.10%	3.22%	3.94%	3.51%	4.15%	3.87%
GDO Western Asset Global Corporate Defined Opportunity Fund Inc	13.84%	12.40%	12.04%	9.52%	9.49%	6.93%	6.70%	6.65%	8.41%	7.57%	7.96%	8.62%

Frequently Asked Questions

Can I hold both GDO and CCI in my portfolio?

GDO and CCI have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GDO or CCI?

CCI has higher volatility (9.48%) compared to GDO (2.07%). In terms of maximum drawdown, GDO dropped -34.61% vs CCI's -97.52%.

Which has better risk-adjusted returns?

GDO currently has the higher Sharpe Ratio (0.49 vs -0.50), 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.