GIMFX vs. GIOTX

Last updated Jun 4, 2026

GIMFX (GMO Implementation Fund) and GIOTX (GMO International Developed Equity Allocation Fund) are both mutual funds - GIMFX is a Global Allocation fund managed by GMO, while GIOTX is a Foreign Large Cap Equities fund managed by GMO. Over the past 10 years, GIMFX returned 7.26%/yr vs 11.95%/yr for GIOTX. Their correlation of 0.86 suggests significant overlap in exposure. GIMFX charges 0.02%/yr vs 0.00%/yr for GIOTX.

Performance

GIMFX vs. GIOTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GMO Implementation Fund (GIMFX) and GMO International Developed Equity Allocation Fund (GIOTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GIMFX achieves a 14.16% return, which is significantly lower than GIOTX's 18.85% return. Over the past 10 years, GIMFX has underperformed GIOTX with an annualized return of 7.26%, while GIOTX has yielded a comparatively higher 11.95% annualized return.

GIMFX

• 1D: 0.40%
• 1M: 5.11%
• YTD: 14.16%
• 6M: 16.37%
• 1Y: 32.72%
• 3Y*: 17.75%
• 5Y*: 9.54%
• 10Y*: 7.26%

GIOTX

• 1D: 0.93%
• 1M: 5.92%
• YTD: 18.85%
• 6M: 21.98%
• 1Y: 42.44%
• 3Y*: 28.42%
• 5Y*: 14.01%
• 10Y*: 11.95%

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

GIMFX vs. GIOTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GIMFX GMO Implementation Fund	14.16%	25.37%	2.67%	14.75%	-1.24%	4.05%	-7.25%	13.24%	-5.58%	14.09%
GIOTX GMO International Developed Equity Allocation Fund	18.85%	43.70%	10.66%	21.03%	-12.41%	11.14%	7.43%	24.45%	-19.66%	26.38%

Correlation

The correlation between GIMFX and GIOTX is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (10Y) Calculated over the trailing 10-year period	0.85
Correlation (All Time) Calculated using the full available price history since Jan 3, 2013	0.86

The correlation between GIMFX and GIOTX has been stable across timeframes, ranging from 0.85 to 0.90 - a consistent structural relationship.

Return for Risk

GIMFX vs. GIOTX — Risk / Return Rank

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

GIMFX

GIMFX Risk / Return Rank: 95
GIMFX Sharpe Ratio Rank: 98
GIMFX Sortino Ratio Rank: 97
GIMFX Omega Ratio Rank: 96
GIMFX Calmar Ratio Rank: 92
GIMFX Martin Ratio Rank: 92

GIOTX

GIOTX Risk / Return Rank: 81
GIOTX Sharpe Ratio Rank: 84
GIOTX Sortino Ratio Rank: 79
GIOTX Omega Ratio Rank: 76
GIOTX Calmar Ratio Rank: 83
GIOTX Martin Ratio Rank: 81

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.

GIMFX vs. GIOTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GMO Implementation Fund (GIMFX) and GMO International Developed Equity Allocation Fund (GIOTX). 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.

	GIMFX	GIOTX	Difference
Sharpe ratio: Return per unit of total volatility	4.13	2.72	+1.41
Sortino ratio: Return per unit of downside risk	5.83	3.75	+2.08
Omega ratio: Gain probability vs. loss probability	1.83	1.49	+0.34
Calmar ratio: Return relative to maximum drawdown	5.00	3.88	+1.12
Martin ratio: Return relative to average drawdown	19.42	15.30	+4.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GIMFX vs. GIOTX - Sharpe Ratio Comparison

The current GIMFX Sharpe Ratio is 4.13, which is higher than the GIOTX Sharpe Ratio of 2.72. The chart below compares the historical Sharpe Ratios of GIMFX and GIOTX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GIMFX	GIOTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.13	2.72	+1.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.12	0.92	+0.20
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.81	0.73	+0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	0.34	+0.37

Drawdowns

GIMFX vs. GIOTX - Drawdown Comparison

The maximum GIMFX drawdown since its inception was -25.87%, smaller than the maximum GIOTX drawdown of -56.51%. Use the drawdown chart below to compare losses from any high point for GIMFX and GIOTX.

Drawdown Indicators

	GIMFX	GIOTX	Difference
Max Drawdown Largest peak-to-trough decline	-25.87%	-56.51%	+30.64%
Max Drawdown (1Y) Largest decline over 1 year	-6.53%	-10.66%	+4.13%
Max Drawdown (3Y) Largest decline over 3 years	-8.02%	-13.40%	+5.38%
Max Drawdown (5Y) Largest decline over 5 years	-14.02%	-29.68%	+15.66%
Max Drawdown (10Y) Largest decline over 10 years	-25.87%	-39.29%	+13.42%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-4.29%	-14.24%	+9.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.68%	2.70%	-1.02%

Volatility

GIMFX vs. GIOTX - Volatility Comparison

The current volatility for GMO Implementation Fund (GIMFX) is 2.84%, while GMO International Developed Equity Allocation Fund (GIOTX) has a volatility of 4.54%. This indicates that GIMFX experiences smaller price fluctuations and is considered to be less risky than GIOTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GIMFX	GIOTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.84%	4.54%	-1.70%
Volatility (6M) Calculated over the trailing 6-month period	6.22%	12.00%	-5.78%
Volatility (1Y) Calculated over the trailing 1-year period	7.93%	15.24%	-7.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.58%	15.39%	-6.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.98%	16.34%	-7.36%

GIMFX vs. GIOTX - Expense Ratio Comparison

GIMFX has a 0.02% expense ratio, which is higher than GIOTX's 0.00% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

GIMFX vs. GIOTX - Dividend Comparison

GIMFX's dividend yield for the trailing twelve months is around 3.75%, less than GIOTX's 6.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GIMFX GMO Implementation Fund	3.75%	4.28%	3.39%	5.93%	3.59%	3.28%	2.25%	3.99%	4.59%	2.95%	1.98%	0.00%
GIOTX GMO International Developed Equity Allocation Fund	6.77%	8.04%	5.07%	6.54%	4.45%	6.67%	4.48%	3.74%	3.90%	3.15%	4.04%	3.39%

Frequently Asked Questions

Can I hold both GIMFX and GIOTX in my portfolio?

With a correlation of 0.90, GIMFX and GIOTX 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.

Which is riskier, GIMFX or GIOTX?

GIOTX has higher volatility (4.54%) compared to GIMFX (2.84%). In terms of maximum drawdown, GIMFX dropped -25.87% vs GIOTX's -56.51%.

Which has better risk-adjusted returns?

GIMFX currently has the higher Sharpe Ratio (4.13 vs 2.72), 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.