GIOTX vs. GMODX

Last updated Aug 4, 2026

GIOTX (GMO International Developed Equity Allocation Fund) and GMODX (GMO Opportunistic Income Fund) are both mutual funds - GIOTX is a Foreign Large Cap Equities fund managed by GMO, while GMODX is a Nontraditional Bonds fund managed by GMO. Over the past 10 years, GIOTX returned 12.13%/yr vs 4.10%/yr for GMODX. Their -0.06 correlation means they have often moved in opposite directions in the past. GIOTX charges 0.00%/yr vs 0.47%/yr for GMODX.

Performance

GIOTX vs. GMODX - Performance Comparison

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

Returns By Period

In the year-to-date period, GIOTX achieves a 20.64% return, which is significantly higher than GMODX's 0.88% return. Over the past 10 years, GIOTX has outperformed GMODX with an annualized return of 12.13%, while GMODX has yielded a comparatively lower 4.10% annualized return.

GIOTX

• 1D: -0.59%
• 1M: 2.95%
• 6M: 12.62%
• YTD: 20.64%
• 1Y: 40.94%
• 3Y*: 26.35%
• 5Y*: 15.19%
• 10Y*: 12.13%
• ALL TIME*: 6.50%

GMODX

• 1D: -0.54%
• 1M: -0.45%
• 6M: 0.70%
• YTD: 0.88%
• 1Y: 3.12%
• 3Y*: 5.62%
• 5Y*: 3.70%
• 10Y*: 4.10%
• ALL TIME*: 3.94%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GIOTX GMO International Developed Equity Allocation Fund	$0.00	$0.00	$0.00
GMODX GMO Opportunistic Income Fund	$0.00	$0.00	$0.00

GIOTX vs. GMODX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GIOTX GMO International Developed Equity Allocation Fund	20.64%	43.70%	10.66%	21.03%	-12.41%	11.14%	7.43%	24.45%	-19.66%	26.38%
GMODX GMO Opportunistic Income Fund	0.88%	6.47%	6.11%	7.07%	-2.09%	2.83%	3.34%	3.83%	4.01%	6.41%

Correlation

The correlation between GIOTX and GMODX is 0.22, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.22
Correlation (3Y) Balances recent behavior with more history.	0.21
Correlation (5Y) Shows whether the relationship held over a longer period.	0.14
Correlation (10Y) Provides a long-term view across more market conditions.	-0.05
Correlation (All Time) Calculated using the full available price history since Jan 3, 2012	-0.06

The correlation between GIOTX and GMODX shifts across timeframes, from -0.06 (all time) to 0.22 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

GIOTX vs. GMODX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GIOTX

GIOTX Risk / Return Rank: 92
GIOTX Sharpe Ratio Rank: 95
GIOTX Sortino Ratio Rank: 91
GIOTX Omega Ratio Rank: 88
GIOTX Calmar Ratio Rank: 93
GIOTX Martin Ratio Rank: 94

GMODX

GMODX Risk / Return Rank: 95
GMODX Sharpe Ratio Rank: 94
GMODX Sortino Ratio Rank: 95
GMODX Omega Ratio Rank: 94
GMODX Calmar Ratio Rank: 97
GMODX Martin Ratio Rank: 98

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

GIOTX vs. GMODX - Risk-Adjusted Trends Comparison

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

	GIOTX	GMODX	Difference
Sharpe ratio: Return per unit of total volatility	2.56	2.52	+0.04
Sortino ratio: Return per unit of downside risk	3.52	3.89	-0.38
Omega ratio: Gain probability vs. loss probability	1.46	1.54	-0.07
Calmar ratio: Return relative to maximum drawdown	3.89	5.51	-1.62
Martin ratio: Return relative to average drawdown	15.11	22.26	-7.15

GIOTX vs. GMODX - Sharpe Ratio Comparison

The current GIOTX Sharpe Ratio is 2.56, which is comparable to the GMODX Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of GIOTX and GMODX, 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

GIOTX vs. GMODX - Drawdown Comparison

The maximum GIOTX drawdown since its inception was -56.51%, which is greater than GMODX's maximum drawdown of -8.79%. Use the drawdown chart below to compare losses from any high point for GIOTX and GMODX.

Drawdown Indicators

	GIOTX	GMODX	Difference
Max Drawdown Largest peak-to-trough decline	-56.51%	-8.79%	-47.72%
Max Drawdown (1Y) Largest decline over 1 year	-10.66%	-0.65%	-10.01%
Max Drawdown (3Y) Largest decline over 3 years	-13.40%	-4.97%	-8.43%
Max Drawdown (5Y) Largest decline over 5 years	-28.34%	-5.79%	-22.55%
Max Drawdown (10Y) Largest decline over 10 years	-39.29%	-8.79%	-30.50%
Current Drawdown Current decline from peak	-0.59%	-0.58%	-0.01%
Average Drawdown Average peak-to-trough decline	-14.13%	-0.69%	-13.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.74%	0.16%	+2.58%

Volatility

GIOTX vs. GMODX - Volatility Comparison

GMO International Developed Equity Allocation Fund (GIOTX) has a higher volatility of 5.03% compared to GMO Opportunistic Income Fund (GMODX) at 0.63%. This indicates that GIOTX's price experiences larger fluctuations and is considered to be riskier than GMODX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GIOTX	GMODX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.03%	0.63%	+4.40%
Volatility (6M) Calculated over the trailing 6-month period	13.48%	1.13%	+12.35%
Volatility (1Y) Calculated over the trailing 1-year period	16.21%	1.43%	+14.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.55%	3.83%	+11.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.18%	3.05%	+13.13%

GIOTX vs. GMODX - Expense Ratio Comparison

GIOTX has a 0.00% expense ratio, which is lower than GMODX's 0.47% expense ratio.

Dividends

GIOTX vs. GMODX - Dividend Comparison

GIOTX's dividend yield for the trailing twelve months is around 8.44%, more than GMODX's 4.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GIOTX GMO International Developed Equity Allocation Fund	8.44%	8.04%	5.07%	6.54%	4.45%	6.67%	4.48%	3.74%	3.90%	3.15%	4.04%	3.39%
GMODX GMO Opportunistic Income Fund	4.58%	4.99%	5.28%	6.17%	5.44%	2.10%	4.15%	5.69%	4.35%	2.66%	2.55%	1.71%

Frequently Asked Questions

Can I hold both GIOTX and GMODX in my portfolio?

GIOTX and GMODX have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GIOTX or GMODX?

GIOTX has higher volatility (5.03%) compared to GMODX (0.63%). In terms of maximum drawdown, GIOTX dropped -56.51% vs GMODX's -8.79%.

Which has better risk-adjusted returns?

GIOTX currently has the higher Sharpe Ratio (2.56 vs 2.52), 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.