GLQ vs. GWOAX
GLQ (Clough Global Equity Fund) and GWOAX (GMO Global Developed Equity Allocation Fund) are both Global Equities funds. Over the past 10 years, GLQ returned 8.68%/yr vs 12.15%/yr for GWOAX. Their 0.66 correlation means they have sometimes moved together and sometimes differently. GLQ charges 0.03%/yr vs 0.01%/yr for GWOAX.
Performance
GLQ vs. GWOAX - Performance Comparison
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Returns By Period
In the year-to-date period, GLQ achieves a 14.61% return, which is significantly lower than GWOAX's 17.69% return. Over the past 10 years, GLQ has underperformed GWOAX with an annualized return of 8.68%, while GWOAX has yielded a comparatively higher 12.15% annualized return.
GLQ
- 1D
- 1.60%
- 1M
- -3.58%
- 6M
- 6.24%
- YTD
- 14.61%
- 1Y
- 27.64%
- 3Y*
- 23.38%
- 5Y*
- -0.43%
- 10Y*
- 8.68%
- ALL TIME*
- 6.19%
GWOAX
- 1D
- 0.00%
- 1M
- 2.23%
- 6M
- 11.02%
- YTD
- 17.69%
- 1Y
- 35.41%
- 3Y*
- 18.96%
- 5Y*
- 11.65%
- 10Y*
- 12.15%
- ALL TIME*
- 8.29%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $439.21K | $470.26K | $716.20K | |
| $0.00 | $0.00 | $0.00 |
GLQ vs. GWOAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GLQ Clough Global Equity Fund | 14.61% | 28.55% | 25.41% | 2.67% | -42.31% | 6.48% | 28.28% | 23.94% | -9.74% | 32.83% |
GWOAX GMO Global Developed Equity Allocation Fund | 17.69% | 28.37% | 6.14% | 22.49% | -14.10% | 18.53% | 10.53% | 26.56% | -12.95% | 25.63% |
Correlation
The correlation between GLQ and GWOAX is 0.69, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.69 |
Correlation (3Y) Balances recent behavior with more history. | 0.68 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.66 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.61 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2006 | 0.66 |
The correlation between GLQ and GWOAX has been stable across timeframes, ranging from 0.61 to 0.69 - a consistent structural relationship.
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Return for Risk
GLQ vs. GWOAX — Risk / Return Rank
GLQ
GWOAX
GLQ vs. GWOAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Clough Global Equity Fund (GLQ) and GMO Global Developed Equity Allocation Fund (GWOAX). 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.
| GLQ | GWOAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.87 | ||
| Sortino ratioReturn per unit of downside risk | -1.17 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.49 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 2.62 | 3.96 | -1.35 |
| Martin ratioReturn relative to average drawdown | 9.54 | 15.74 | -6.20 |
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Drawdowns
GLQ vs. GWOAX - Drawdown Comparison
The maximum GLQ drawdown since its inception was -64.45%, which is greater than GWOAX's maximum drawdown of -49.84%. Use the drawdown chart below to compare losses from any high point for GLQ and GWOAX.
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Drawdown Indicators
| GLQ | GWOAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.45% | -49.84% | -14.61% |
Max Drawdown (1Y)Largest decline over 1 year | -10.61% | -8.78% | -1.83% |
Max Drawdown (3Y)Largest decline over 3 years | -19.18% | -16.11% | -3.07% |
Max Drawdown (5Y)Largest decline over 5 years | -57.47% | -26.21% | -31.26% |
Max Drawdown (10Y)Largest decline over 10 years | -57.47% | -35.28% | -22.19% |
Current DrawdownCurrent decline from peak | -7.36% | 0.00% | -7.36% |
Average DrawdownAverage peak-to-trough decline | -17.21% | -8.93% | -8.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.91% | 2.21% | +0.70% |
Volatility
GLQ vs. GWOAX - Volatility Comparison
Clough Global Equity Fund (GLQ) has a higher volatility of 3.82% compared to GMO Global Developed Equity Allocation Fund (GWOAX) at 3.20%. This indicates that GLQ's price experiences larger fluctuations and is considered to be riskier than GWOAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLQ | GWOAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.82% | 3.20% | +0.62% |
Volatility (6M)Calculated over the trailing 6-month period | 12.12% | 10.20% | +1.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.15% | 12.88% | +2.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.98% | 15.22% | +4.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.01% | 16.39% | +5.62% |
GLQ vs. GWOAX - Expense Ratio Comparison
GLQ has a 0.03% expense ratio, which is higher than GWOAX's 0.01% 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
GLQ vs. GWOAX - Dividend Comparison
GLQ's dividend yield for the trailing twelve months is around 10.12%, more than GWOAX's 5.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GLQ Clough Global Equity Fund | 10.12% | 10.18% | 10.86% | 12.13% | 21.42% | 12.25% | 9.66% | 10.96% | 13.68% | 9.63% | 11.68% | 11.01% |
GWOAX GMO Global Developed Equity Allocation Fund | 5.37% | 4.46% | 0.60% | 6.10% | 7.27% | 12.75% | 3.85% | 4.33% | 3.02% | 3.05% | 6.43% | 12.47% |
Frequently Asked Questions
GLQ and GWOAX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLQ has higher volatility (3.82%) compared to GWOAX (3.20%). In terms of maximum drawdown, GLQ dropped -64.45% vs GWOAX's -49.84%.
GWOAX currently has the higher Sharpe Ratio (2.71 vs 1.84), 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.
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