GMMA vs. ASGM
GMMA (GammaRoad Market Navigation ETF) and ASGM (Virtus AlphaSimplex Global Macro ETF) are both Tactical Allocation funds. GMMA is passively managed, while ASGM is actively managed. A 0.78 correlation means they provide meaningful diversification when combined. GMMA charges 0.75%/yr vs 0.86%/yr for ASGM.
Performance
GMMA vs. ASGM - Performance Comparison
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Returns By Period
In the year-to-date period, GMMA achieves a 1.98% return, which is significantly lower than ASGM's 17.56% return.
GMMA
- 1D
- -0.92%
- 1M
- -0.80%
- YTD
- 1.98%
- 6M
- 1.78%
- 1Y
- 8.28%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ASGM
- 1D
- -2.93%
- 1M
- -1.26%
- YTD
- 17.56%
- 6M
- 17.07%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GMMA vs. ASGM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GMMA GammaRoad Market Navigation ETF | 1.98% | 4.21% |
ASGM Virtus AlphaSimplex Global Macro ETF | 17.56% | 11.08% |
Correlation
The correlation between GMMA and ASGM is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 5, 2025 | 0.78 |
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Return for Risk
GMMA vs. ASGM — Risk / Return Rank
GMMA
ASGM
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
GMMA vs. ASGM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GammaRoad Market Navigation ETF (GMMA) and Virtus AlphaSimplex Global Macro ETF (ASGM). 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.
| GMMA | ASGM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.27 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.45 | — | — |
| Martin ratioReturn relative to average drawdown | 8.01 | — | — |
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Drawdowns
GMMA vs. ASGM - Drawdown Comparison
The maximum GMMA drawdown since its inception was -5.21%, smaller than the maximum ASGM drawdown of -6.62%. Use the drawdown chart below to compare losses from any high point for GMMA and ASGM.
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Drawdown Indicators
| GMMA | ASGM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.21% | -6.62% | +1.41% |
Max Drawdown (1Y)Largest decline over 1 year | -3.39% | — | — |
Current DrawdownCurrent decline from peak | -1.98% | -4.56% | +2.58% |
Average DrawdownAverage peak-to-trough decline | -1.24% | -1.34% | +0.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | — | — |
Volatility
GMMA vs. ASGM - Volatility Comparison
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Volatility by Period
| GMMA | ASGM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.12% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 4.92% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 6.05% | 17.01% | -10.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.34% | 17.01% | -9.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.34% | 17.01% | -9.67% |
GMMA vs. ASGM - Expense Ratio Comparison
GMMA has a 0.75% expense ratio, which is lower than ASGM's 0.86% expense ratio.
Dividends
GMMA vs. ASGM - Dividend Comparison
GMMA's dividend yield for the trailing twelve months is around 3.70%, less than ASGM's 3.84% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
ASGM Virtus AlphaSimplex Global Macro ETF | 3.84% | 4.52% | 0.00% |
GMMA GammaRoad Market Navigation ETF | 3.70% | 3.00% | 0.57% |
Frequently Asked Questions
GMMA and ASGM have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GMMA is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GMMA is cheaper with a 0.75% expense ratio, compared with 0.86% for ASGM.
ASGM has the higher dividend yield at 3.84%, compared with 3.70% for GMMA.
They also come from different issuers: GammaRoad Capital Partners and Virtus. Their fees differ too: 0.75% for GMMA and 0.86% for ASGM.
Find the right allocation for GMMA and ASGM
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