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. Over the past year, GMMA returned 9.98% vs 31.80% for ASGM. Their 0.78 correlation means they have sometimes moved together and sometimes differently. 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 5.54% return, which is significantly lower than ASGM's 18.65% return.
GMMA
- 1D
- 1.25%
- 1M
- 2.64%
- 6M
- 4.47%
- YTD
- 5.54%
- 1Y
- 9.98%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 7.84%
ASGM
- 1D
- 1.49%
- 1M
- 2.38%
- 6M
- 12.01%
- YTD
- 18.65%
- 1Y
- 31.80%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $8.29K | $15.16K | $26.32K | |
| $3.27K | $2.85K | $4.08K |
GMMA vs. ASGM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GMMA GammaRoad Market Navigation ETF | 5.54% | 4.21% |
ASGM Virtus AlphaSimplex Global Macro ETF | 18.65% | 11.08% |
Correlation
The correlation between GMMA and ASGM is 0.78, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| 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 | 1.30 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.96 | — | — |
| Martin ratioReturn relative to average drawdown | 9.05 | — | — |
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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 -7.37%. 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% | -7.37% | +2.16% |
Max Drawdown (1Y)Largest decline over 1 year | -3.39% | -7.37% | +3.98% |
Current DrawdownCurrent decline from peak | 0.00% | -3.68% | +3.68% |
Average DrawdownAverage peak-to-trough decline | -1.22% | -1.79% | +0.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.11% | — | — |
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 | 2.77% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 5.40% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 6.55% | 16.75% | -10.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.44% | 16.75% | -9.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.44% | 16.75% | -9.31% |
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 3.38%, less than ASGM's 3.81% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
ASGM Virtus AlphaSimplex Global Macro ETF | 3.81% | 4.52% | 0.00% |
GMMA GammaRoad Market Navigation ETF | 3.38% | 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 1-year performance, ASGM leads with 31.80% vs 9.98% for GMMA. 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.
Over the 1-year period, ASGM has performed better with a 31.80% return vs 9.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GMMA is cheaper with a 0.75% expense ratio, compared with 0.86% for ASGM.
ASGM has the higher dividend yield at 3.81%, compared with 3.38% for GMMA.
They also come from different issuers: GammaRoad and Virtus. Their fees differ too: 0.75% for GMMA and 0.86% for ASGM.
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