GIMFX vs. IPIRX

Last updated Jun 4, 2026

GIMFX (GMO Implementation Fund) and IPIRX (Voya Global Perspectives Portfolio) are both Global Allocation funds. Over the past 10 years, GIMFX returned 7.26%/yr vs 6.45%/yr for IPIRX. A 0.73 correlation means they provide meaningful diversification when combined. GIMFX charges 0.02%/yr vs 0.20%/yr for IPIRX.

Performance

GIMFX vs. IPIRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GMO Implementation Fund (GIMFX) and Voya Global Perspectives Portfolio (IPIRX). 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 higher than IPIRX's 6.84% return. Over the past 10 years, GIMFX has outperformed IPIRX with an annualized return of 7.26%, while IPIRX has yielded a comparatively lower 6.45% 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%

IPIRX

• 1D: 0.00%
• 1M: 2.01%
• YTD: 6.84%
• 6M: 7.17%
• 1Y: 16.10%
• 3Y*: 11.74%
• 5Y*: 4.43%
• 10Y*: 6.45%

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

GIMFX vs. IPIRX - 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%
IPIRX Voya Global Perspectives Portfolio	6.84%	14.21%	7.31%	10.65%	-17.52%	6.06%	16.10%	18.35%	-9.87%	15.00%

Correlation

The correlation between GIMFX and IPIRX is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.64
Correlation (10Y) Calculated over the trailing 10-year period	0.70
Correlation (All Time) Calculated using the full available price history since Jan 3, 2014	0.73

The correlation between GIMFX and IPIRX has been stable across timeframes, ranging from 0.64 to 0.73 - a consistent structural relationship.

Return for Risk

GIMFX vs. IPIRX — 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

IPIRX

IPIRX Risk / Return Rank: 54
IPIRX Sharpe Ratio Rank: 54
IPIRX Sortino Ratio Rank: 61
IPIRX Omega Ratio Rank: 57
IPIRX Calmar Ratio Rank: 43
IPIRX Martin Ratio Rank: 56

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. IPIRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GMO Implementation Fund (GIMFX) and Voya Global Perspectives Portfolio (IPIRX). 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	IPIRX	Difference
Sharpe ratio: Return per unit of total volatility	4.13	2.18	+1.95
Sortino ratio: Return per unit of downside risk	5.83	3.27	+2.56
Omega ratio: Gain probability vs. loss probability	1.83	1.42	+0.41
Calmar ratio: Return relative to maximum drawdown	5.00	2.48	+2.52
Martin ratio: Return relative to average drawdown	19.42	11.31	+8.11
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. IPIRX - Sharpe Ratio Comparison

The current GIMFX Sharpe Ratio is 4.13, which is higher than the IPIRX Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of GIMFX and IPIRX, 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	IPIRX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.13	2.18	+1.95
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.12	0.42	+0.70
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.81	0.67	+0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	0.60	+0.10

Drawdowns

GIMFX vs. IPIRX - Drawdown Comparison

The maximum GIMFX drawdown since its inception was -25.87%, roughly equal to the maximum IPIRX drawdown of -24.97%. Use the drawdown chart below to compare losses from any high point for GIMFX and IPIRX.

Drawdown Indicators

	GIMFX	IPIRX	Difference
Max Drawdown Largest peak-to-trough decline	-25.87%	-24.97%	-0.90%
Max Drawdown (1Y) Largest decline over 1 year	-6.53%	-7.88%	+1.35%
Max Drawdown (3Y) Largest decline over 3 years	-8.02%	-10.54%	+2.52%
Max Drawdown (5Y) Largest decline over 5 years	-14.02%	-24.97%	+10.95%
Max Drawdown (10Y) Largest decline over 10 years	-25.87%	-24.97%	-0.90%
Current Drawdown Current decline from peak	0.00%	-0.19%	+0.19%
Average Drawdown Average peak-to-trough decline	-4.29%	-4.85%	+0.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.68%	1.67%	+0.01%

Volatility

GIMFX vs. IPIRX - Volatility Comparison

GMO Implementation Fund (GIMFX) has a higher volatility of 2.84% compared to Voya Global Perspectives Portfolio (IPIRX) at 2.53%. This indicates that GIMFX's price experiences larger fluctuations and is considered to be riskier than IPIRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GIMFX	IPIRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.84%	2.53%	+0.31%
Volatility (6M) Calculated over the trailing 6-month period	6.22%	7.32%	-1.10%
Volatility (1Y) Calculated over the trailing 1-year period	7.93%	9.11%	-1.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.58%	10.82%	-2.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.98%	9.78%	-0.80%

GIMFX vs. IPIRX - Expense Ratio Comparison

GIMFX has a 0.02% expense ratio, which is lower than IPIRX's 0.20% expense ratio. Despite the difference, 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. IPIRX - Dividend Comparison

GIMFX's dividend yield for the trailing twelve months is around 3.75%, less than IPIRX's 44.20% 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%
IPIRX Voya Global Perspectives Portfolio	44.20%	5.64%	3.25%	14.65%	13.55%	6.34%	6.25%	7.80%	1.30%	2.78%	2.78%	7.16%

Frequently Asked Questions

Can I hold both GIMFX and IPIRX in my portfolio?

GIMFX and IPIRX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GIMFX or IPIRX?

GIMFX has higher volatility (2.84%) compared to IPIRX (2.53%). In terms of maximum drawdown, GIMFX dropped -25.87% vs IPIRX's -24.97%.

Which has better risk-adjusted returns?

GIMFX currently has the higher Sharpe Ratio (4.13 vs 2.17), 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.