GDO vs. EMO
GDO (Western Asset Global Corporate Defined Opportunity Fund Inc) and EMO (ClearBridge Energy Midstream Opportunity Fund Inc.) are both mutual funds - GDO is a Corporate Bonds fund managed by Franklin Templeton, while EMO is a MLPs fund actively managed by Franklin Templeton. Over the past 10 years, GDO returned 3.67%/yr vs 7.31%/yr for EMO. Their 0.23 correlation means their historical movements had little consistent relationship. GDO charges 0.01%/yr vs 3.22%/yr for EMO.
Performance
GDO vs. EMO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, GDO achieves a -5.79% return, which is significantly lower than EMO's 20.68% return. Over the past 10 years, GDO has underperformed EMO with an annualized return of 3.67%, while EMO has yielded a comparatively higher 7.31% annualized return.
GDO
- 1D
- 0.29%
- 1M
- -3.05%
- 6M
- -4.94%
- YTD
- -5.79%
- 1Y
- -0.15%
- 3Y*
- 5.90%
- 5Y*
- -1.17%
- 10Y*
- 3.67%
- ALL TIME*
- 4.67%
EMO
- 1D
- -0.70%
- 1M
- 4.73%
- 6M
- 11.46%
- YTD
- 20.68%
- 1Y
- 20.65%
- 3Y*
- 29.46%
- 5Y*
- 30.65%
- 10Y*
- 7.31%
- ALL TIME*
- 4.24%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.88M | $2.05M | $2.43M | |
| $426.35K | $402.60K | $326.75K |
GDO vs. EMO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GDO Western Asset Global Corporate Defined Opportunity Fund Inc | -5.79% | 18.25% | -0.79% | 10.39% | -20.30% | 3.38% | 6.82% | 30.72% | -10.12% | 13.48% |
EMO ClearBridge Energy Midstream Opportunity Fund Inc. | 20.68% | 7.38% | 44.45% | 31.76% | 40.13% | 74.70% | -64.47% | 19.60% | -25.73% | 0.07% |
Correlation
The correlation between GDO and EMO is -0.00, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.00 |
Correlation (3Y) Balances recent behavior with more history. | 0.14 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.20 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.21 |
Correlation (All Time) Calculated using the full available price history since Jun 14, 2011 | 0.23 |
The correlation between GDO and EMO shifts across timeframes, from -0.00 (1 year) to 0.23 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
GDO vs. EMO — Risk / Return Rank
GDO
EMO
GDO vs. EMO - 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 ClearBridge Energy Midstream Opportunity Fund Inc. (EMO). 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 | EMO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.28 | ||
| Sortino ratioReturn per unit of downside risk | -1.78 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.23 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | -0.02 | 1.91 | -1.93 |
| Martin ratioReturn relative to average drawdown | -0.04 | 3.95 | -3.99 |
Loading charts...
Drawdowns
GDO vs. EMO - Drawdown Comparison
The maximum GDO drawdown since its inception was -34.61%, smaller than the maximum EMO drawdown of -95.06%. Use the drawdown chart below to compare losses from any high point for GDO and EMO.
Loading charts...
Drawdown Indicators
| GDO | EMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.61% | -95.06% | +60.45% |
Max Drawdown (1Y)Largest decline over 1 year | -8.28% | -10.87% | +2.59% |
Max Drawdown (3Y)Largest decline over 3 years | -13.18% | -18.81% | +5.63% |
Max Drawdown (5Y)Largest decline over 5 years | -34.61% | -28.59% | -6.02% |
Max Drawdown (10Y)Largest decline over 10 years | -34.61% | -93.02% | +58.41% |
Current DrawdownCurrent decline from peak | -6.36% | -2.84% | -3.52% |
Average DrawdownAverage peak-to-trough decline | -6.65% | -31.66% | +25.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.41% | 5.24% | -1.83% |
Volatility
GDO vs. EMO - Volatility Comparison
The current volatility for Western Asset Global Corporate Defined Opportunity Fund Inc (GDO) is 1.90%, while ClearBridge Energy Midstream Opportunity Fund Inc. (EMO) has a volatility of 5.14%. This indicates that GDO experiences smaller price fluctuations and is considered to be less risky than EMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| GDO | EMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.90% | 5.14% | -3.24% |
Volatility (6M)Calculated over the trailing 6-month period | 6.05% | 12.68% | -6.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.25% | 16.45% | -8.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.24% | 26.05% | -13.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.28% | 41.14% | -27.86% |
GDO vs. EMO - Expense Ratio Comparison
GDO has a 0.02% expense ratio, which is lower than EMO's 3.22% expense ratio.
Dividends
GDO vs. EMO - Dividend Comparison
GDO's dividend yield for the trailing twelve months is around 14.23%, more than EMO's 8.41% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMO ClearBridge Energy Midstream Opportunity Fund Inc. | 8.41% | 9.41% | 7.16% | 6.79% | 6.71% | 6.71% | 15.82% | 10.94% | 16.39% | 10.85% | 9.76% | 11.88% |
GDO Western Asset Global Corporate Defined Opportunity Fund Inc | 14.23% | 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
GDO and EMO have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EMO has higher volatility (5.14%) compared to GDO (1.90%). In terms of maximum drawdown, GDO dropped -34.61% vs EMO's -95.06%.
EMO currently has the higher Sharpe Ratio (1.26 vs -0.02), 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.
Find the right allocation for GDO and EMO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer