GMODX vs. NTIIX

Last updated Jun 5, 2026

GMODX (GMO Opportunistic Income Fund) and NTIIX (Navigator Tactical Investment Grade Bond Fund) are both Nontraditional Bonds funds. Over the past 3 years, GMODX returned 5.84%/yr vs 3.49%/yr for NTIIX. A 0.53 correlation means they provide meaningful diversification when combined. GMODX charges 0.47%/yr vs 1.01%/yr for NTIIX.

Performance

GMODX vs. NTIIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GMO Opportunistic Income Fund (GMODX) and Navigator Tactical Investment Grade Bond Fund (NTIIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GMODX achieves a 1.06% return, which is significantly higher than NTIIX's -0.99% return.

GMODX

• 1D: -0.04%
• 1M: 0.07%
• YTD: 1.06%
• 6M: 1.36%
• 1Y: 4.53%
• 3Y*: 5.84%
• 5Y*: 3.85%
• 10Y*: 4.24%

NTIIX

• 1D: 0.00%
• 1M: 0.23%
• YTD: -0.99%
• 6M: -0.95%
• 1Y: 3.23%
• 3Y*: 3.49%
• 5Y*: —
• 10Y*: —

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

GMODX vs. NTIIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
GMODX GMO Opportunistic Income Fund	1.06%	6.47%	6.11%	7.07%	-2.09%	0.27%
NTIIX Navigator Tactical Investment Grade Bond Fund	-0.99%	2.16%	-0.85%	9.79%	-6.51%	-2.29%

Correlation

The correlation between GMODX and NTIIX is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.63
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (All Time) Calculated using the full available price history since Sep 1, 2021	0.53

The correlation between GMODX and NTIIX shifts across timeframes, from 0.52 (3 years) to 0.63 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

GMODX vs. NTIIX — Risk / Return Rank

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

GMODX

GMODX Risk / Return Rank: 97
GMODX Sharpe Ratio Rank: 96
GMODX Sortino Ratio Rank: 98
GMODX Omega Ratio Rank: 95
GMODX Calmar Ratio Rank: 97
GMODX Martin Ratio Rank: 98

NTIIX

NTIIX Risk / Return Rank: 13
NTIIX Sharpe Ratio Rank: 14
NTIIX Sortino Ratio Rank: 14
NTIIX Omega Ratio Rank: 16
NTIIX Calmar Ratio Rank: 13
NTIIX Martin Ratio Rank: 11

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.

GMODX vs. NTIIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GMO Opportunistic Income Fund (GMODX) and Navigator Tactical Investment Grade Bond Fund (NTIIX). 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.

	GMODX	NTIIX	Difference
Sharpe ratio: Return per unit of total volatility	3.54	0.99	+2.55
Sortino ratio: Return per unit of downside risk	6.28	1.46	+4.82
Omega ratio: Gain probability vs. loss probability	1.78	1.20	+0.58
Calmar ratio: Return relative to maximum drawdown	7.30	1.18	+6.12
Martin ratio: Return relative to average drawdown	30.63	2.88	+27.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GMODX vs. NTIIX - Sharpe Ratio Comparison

The current GMODX Sharpe Ratio is 3.54, which is higher than the NTIIX Sharpe Ratio of 0.99. The chart below compares the historical Sharpe Ratios of GMODX and NTIIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GMODX	NTIIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.54	0.99	+2.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.01	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.40	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.38	0.02	+1.35

Drawdowns

GMODX vs. NTIIX - Drawdown Comparison

The maximum GMODX drawdown since its inception was -8.79%, smaller than the maximum NTIIX drawdown of -12.35%. Use the drawdown chart below to compare losses from any high point for GMODX and NTIIX.

Drawdown Indicators

	GMODX	NTIIX	Difference
Max Drawdown Largest peak-to-trough decline	-8.79%	-12.35%	+3.56%
Max Drawdown (1Y) Largest decline over 1 year	-0.65%	-3.35%	+2.70%
Max Drawdown (3Y) Largest decline over 3 years	-4.97%	-8.52%	+3.55%
Max Drawdown (5Y) Largest decline over 5 years	-5.79%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-8.79%	—	—
Current Drawdown Current decline from peak	-0.12%	-3.59%	+3.47%
Average Drawdown Average peak-to-trough decline	-0.70%	-5.16%	+4.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.16%	1.37%	-1.21%

Volatility

GMODX vs. NTIIX - Volatility Comparison

GMO Opportunistic Income Fund (GMODX) has a higher volatility of 0.46% compared to Navigator Tactical Investment Grade Bond Fund (NTIIX) at 0.16%. This indicates that GMODX's price experiences larger fluctuations and is considered to be riskier than NTIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GMODX	NTIIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.46%	0.16%	+0.30%
Volatility (6M) Calculated over the trailing 6-month period	0.91%	2.51%	-1.60%
Volatility (1Y) Calculated over the trailing 1-year period	1.35%	4.00%	-2.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.82%	4.99%	-1.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.04%	4.99%	-1.95%

GMODX vs. NTIIX - Expense Ratio Comparison

GMODX has a 0.47% expense ratio, which is lower than NTIIX's 1.01% expense ratio.

Dividends

GMODX vs. NTIIX - Dividend Comparison

GMODX's dividend yield for the trailing twelve months is around 5.01%, more than NTIIX's 4.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GMODX GMO Opportunistic Income Fund	5.01%	4.99%	5.28%	6.17%	5.44%	2.10%	4.15%	5.69%	4.35%	2.66%	2.55%	1.71%
NTIIX Navigator Tactical Investment Grade Bond Fund	4.28%	4.07%	4.24%	3.85%	1.63%	0.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GMODX and NTIIX in my portfolio?

GMODX and NTIIX have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GMODX or NTIIX?

GMODX has higher volatility (0.46%) compared to NTIIX (0.16%). In terms of maximum drawdown, GMODX dropped -8.79% vs NTIIX's -12.35%.

Which has better risk-adjusted returns?

GMODX currently has the higher Sharpe Ratio (3.54 vs 0.99), 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.