GMOC vs. INVG

Last updated Jun 6, 2026

GMOC (GMO Ultra-Short Income ETF) and INVG (GMO Systematic Investment Grade Credit ETF) are both exchange-traded funds - GMOC is a Ultrashort Bond fund actively managed by GMO, while INVG is a Corporate Bonds fund actively managed by GMO. Both are actively managed. At a 0.17 correlation, their price movements are largely independent. GMOC charges 0.20%/yr vs 0.25%/yr for INVG.

Performance

GMOC vs. INVG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GMO Ultra-Short Income ETF (GMOC) and GMO Systematic Investment Grade Credit ETF (INVG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GMOC achieves a 1.65% return, which is significantly higher than INVG's 0.31% return.

GMOC

• 1D: 0.00%
• 1M: 0.27%
• YTD: 1.65%
• 6M: 2.00%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

INVG

• 1D: -0.55%
• 1M: -0.39%
• YTD: 0.31%
• 6M: 0.27%
• 1Y: 5.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GMOC vs. INVG - Yearly Performance Comparison

	2026 (YTD)	2025
GMOC GMO Ultra-Short Income ETF	1.65%	0.76%
INVG GMO Systematic Investment Grade Credit ETF	0.31%	-0.84%

Correlation

The correlation between GMOC and INVG is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 29, 2025	0.17

Return for Risk

GMOC vs. INVG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

INVG

INVG Risk / Return Rank: 36
INVG Sharpe Ratio Rank: 36
INVG Sortino Ratio Rank: 36
INVG Omega Ratio Rank: 34
INVG Calmar Ratio Rank: 37
INVG Martin Ratio Rank: 38

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.

GMOC vs. INVG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GMO Ultra-Short Income ETF (GMOC) and GMO Systematic Investment Grade Credit ETF (INVG). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	GMOC	INVG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.21	—
Sharpe Ratio (All Time) Calculated using the full available price history	8.33	1.13	+7.20

Drawdowns

GMOC vs. INVG - Drawdown Comparison

The maximum GMOC drawdown since its inception was -0.13%, smaller than the maximum INVG drawdown of -3.15%. Use the drawdown chart below to compare losses from any high point for GMOC and INVG.

Drawdown Indicators

	GMOC	INVG	Difference
Max Drawdown Largest peak-to-trough decline	-0.13%	-3.15%	+3.02%
Max Drawdown (1Y) Largest decline over 1 year	—	-3.15%	—
Current Drawdown Current decline from peak	0.00%	-1.24%	+1.24%
Average Drawdown Average peak-to-trough decline	-0.01%	-0.71%	+0.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.98%	—

Volatility

Volatility by Period

	GMOC	INVG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.48%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.36%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.49%	4.45%	-3.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.49%	4.45%	-3.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.49%	4.45%	-3.96%

GMOC vs. INVG - Expense Ratio Comparison

GMOC has a 0.20% expense ratio, which is lower than INVG's 0.25% 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

GMOC vs. INVG - Dividend Comparison

GMOC's dividend yield for the trailing twelve months is around 2.33%, less than INVG's 4.69% yield.

Position	TTM	2025
GMOC GMO Ultra-Short Income ETF	2.33%	0.84%
INVG GMO Systematic Investment Grade Credit ETF	4.69%	2.81%

Frequently Asked Questions

Can I hold both GMOC and INVG in my portfolio?

GMOC and INVG have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GMOC or INVG?

On fees, GMOC is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GMOC or INVG?

GMOC is cheaper with a 0.20% expense ratio, compared with 0.25% for INVG.

Which ETF pays a higher dividend yield, GMOC or INVG?

INVG has the higher dividend yield at 4.69%, compared with 2.33% for GMOC.

What is the main difference between GMOC and INVG?

GMOC is categorized as Ultrashort Bond, while INVG is Corporate Bonds. Their fees differ too: 0.20% for GMOC and 0.25% for INVG.