GMOI vs. PATN

Last updated Jun 5, 2026

GMOI (GMO International Value ETF) and PATN (Pacer Nasdaq International Patent Leaders ETF) are both Foreign Large Cap Equities funds - GMOI tracks the MSCI World ex USA Value while PATN tracks the Nasdaq International Patent Leaders Index. Both are passively managed. Over the past year, GMOI returned 37.64% vs 69.98% for PATN. A 0.73 correlation means they provide meaningful diversification when combined. GMOI charges 0.60%/yr vs 0.65%/yr for PATN.

Performance

GMOI vs. PATN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GMO International Value ETF (GMOI) and Pacer Nasdaq International Patent Leaders ETF (PATN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GMOI achieves a 13.97% return, which is significantly lower than PATN's 39.41% return.

GMOI

• 1D: 0.82%
• 1M: 2.57%
• YTD: 13.97%
• 6M: 17.28%
• 1Y: 37.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PATN

• 1D: -0.79%
• 1M: 13.15%
• YTD: 39.41%
• 6M: 41.84%
• 1Y: 69.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GMOI vs. PATN - Yearly Performance Comparison

	2026 (YTD)	2025	2024
GMOI GMO International Value ETF	13.97%	45.64%	-4.57%
PATN Pacer Nasdaq International Patent Leaders ETF	39.41%	40.01%	-3.43%

Correlation

The correlation between GMOI and PATN is 0.70, 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	0.70
Correlation (All Time) Calculated using the full available price history since Oct 30, 2024	0.73

The correlation between GMOI and PATN has been stable across timeframes, ranging from 0.70 to 0.73 - a consistent structural relationship.

Return for Risk

GMOI vs. PATN — Risk / Return Rank

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

GMOI

GMOI Risk / Return Rank: 86
GMOI Sharpe Ratio Rank: 87
GMOI Sortino Ratio Rank: 88
GMOI Omega Ratio Rank: 85
GMOI Calmar Ratio Rank: 84
GMOI Martin Ratio Rank: 86

PATN

PATN Risk / Return Rank: 90
PATN Sharpe Ratio Rank: 93
PATN Sortino Ratio Rank: 91
PATN Omega Ratio Rank: 91
PATN Calmar Ratio Rank: 87
PATN Martin Ratio Rank: 89

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.

GMOI vs. PATN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GMO International Value ETF (GMOI) and Pacer Nasdaq International Patent Leaders ETF (PATN). 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.

	GMOI	PATN	Difference
Sharpe ratio: Return per unit of total volatility	2.88	3.32	-0.44
Sortino ratio: Return per unit of downside risk	3.94	4.20	-0.26
Omega ratio: Gain probability vs. loss probability	1.51	1.58	-0.07
Calmar ratio: Return relative to maximum drawdown	4.52	4.89	-0.36
Martin ratio: Return relative to average drawdown	17.89	19.80	-1.90
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GMOI vs. PATN - Sharpe Ratio Comparison

The current GMOI Sharpe Ratio is 2.88, which is comparable to the PATN Sharpe Ratio of 3.32. The chart below compares the historical Sharpe Ratios of GMOI and PATN, 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

	GMOI	PATN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.88	3.32	-0.44
Sharpe Ratio (All Time) Calculated using the full available price history	2.17	2.24	-0.07

Drawdowns

GMOI vs. PATN - Drawdown Comparison

The maximum GMOI drawdown since its inception was -14.67%, smaller than the maximum PATN drawdown of -16.77%. Use the drawdown chart below to compare losses from any high point for GMOI and PATN.

Drawdown Indicators

	GMOI	PATN	Difference
Max Drawdown Largest peak-to-trough decline	-14.67%	-16.77%	+2.10%
Max Drawdown (1Y) Largest decline over 1 year	-8.36%	-14.40%	+6.04%
Current Drawdown Current decline from peak	-0.18%	-1.18%	+1.00%
Average Drawdown Average peak-to-trough decline	-1.70%	-3.14%	+1.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.11%	3.55%	-1.44%

Volatility

GMOI vs. PATN - Volatility Comparison

The current volatility for GMO International Value ETF (GMOI) is 3.88%, while Pacer Nasdaq International Patent Leaders ETF (PATN) has a volatility of 8.79%. This indicates that GMOI experiences smaller price fluctuations and is considered to be less risky than PATN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GMOI	PATN	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.88%	8.79%	-4.91%
Volatility (6M) Calculated over the trailing 6-month period	10.29%	18.19%	-7.90%
Volatility (1Y) Calculated over the trailing 1-year period	13.15%	21.20%	-8.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.58%	20.84%	-5.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.58%	20.84%	-5.26%

GMOI vs. PATN - Expense Ratio Comparison

GMOI has a 0.60% expense ratio, which is lower than PATN's 0.65% expense ratio.

Dividends

GMOI vs. PATN - Dividend Comparison

GMOI's dividend yield for the trailing twelve months is around 2.40%, more than PATN's 1.74% yield.

Position	TTM	2025	2024
GMOI GMO International Value ETF	2.40%	2.74%	0.54%
PATN Pacer Nasdaq International Patent Leaders ETF	1.74%	2.25%	0.30%

Frequently Asked Questions

Can I hold both GMOI and PATN in my portfolio?

GMOI and PATN have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GMOI or PATN?

PATN has higher volatility (8.79%) compared to GMOI (3.88%). In terms of maximum drawdown, GMOI dropped -14.67% vs PATN's -16.77%.

Which ETF is better, GMOI or PATN?

On 1-year performance, PATN leads with 69.98% vs 37.64% for GMOI. On fees, GMOI is cheaper at 0.60% per year. On volatility, GMOI has been the lower-risk option at 3.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GMOI or PATN?

Over the 1-year period, PATN has performed better with a 69.98% return vs 37.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GMOI or PATN?

GMOI is cheaper with a 0.60% expense ratio, compared with 0.65% for PATN.

Which ETF pays a higher dividend yield, GMOI or PATN?

GMOI has the higher dividend yield at 2.40%, compared with 1.74% for PATN.

What is the main difference between GMOI and PATN?

GMOI tracks MSCI World ex USA Value, while PATN tracks Nasdaq International Patent Leaders Index. They also come from different issuers: GMO and Pacer. Their fees differ too: 0.60% for GMOI and 0.65% for PATN.

Which has better risk-adjusted returns?

PATN currently has the higher Sharpe Ratio (3.32 vs 2.88), 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.