GMOIX vs. GOFIX

Last updated Jun 26, 2026

GMOIX (GMO International Equity Fund) and GOFIX (GMO Resources Fund) are both mutual funds - GMOIX is a Foreign Large Cap Equities fund managed by GMO, while GOFIX is a Energy Equities fund managed by GMO. Over the past 10 years, GMOIX returned 12.73%/yr vs 12.93%/yr for GOFIX. A 0.74 correlation means they provide meaningful diversification when combined. GMOIX charges 0.66%/yr vs 0.72%/yr for GOFIX.

Performance

GMOIX vs. GOFIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GMO International Equity Fund (GMOIX) and GMO Resources Fund (GOFIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with GMOIX having a 17.09% return and GOFIX slightly higher at 17.84%. Both investments have delivered pretty close results over the past 10 years, with GMOIX having a 12.73% annualized return and GOFIX not far ahead at 12.93%.

GMOIX

• 1D: -0.48%
• 1M: -1.66%
• YTD: 17.09%
• 6M: 16.37%
• 1Y: 39.69%
• 3Y*: 27.31%
• 5Y*: 14.71%
• 10Y*: 12.73%

GOFIX

• 1D: -1.81%
• 1M: -10.65%
• YTD: 17.84%
• 6M: 17.41%
• 1Y: 50.32%
• 3Y*: 7.13%
• 5Y*: 4.79%
• 10Y*: 12.93%

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

GMOIX vs. GOFIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GMOIX GMO International Equity Fund	17.09%	43.94%	11.54%	20.51%	-10.38%	12.11%	7.47%	24.56%	-20.55%	25.73%
GOFIX GMO Resources Fund	17.84%	23.10%	-17.91%	-1.38%	-0.80%	32.01%	22.47%	20.10%	-6.73%	28.42%

Correlation

The correlation between GMOIX and GOFIX is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (5Y) Calculated over the trailing 5-year period	0.65
Correlation (10Y) Calculated over the trailing 10-year period	0.70
Correlation (All Time) Calculated using the full available price history since Jan 3, 2012	0.74

Over the past year, the correlation between GMOIX and GOFIX has dropped to 0.47 - well below their long-term average of 0.74, suggesting their price drivers have been diverging.

Return for Risk

GMOIX vs. GOFIX — Risk / Return Rank

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

GMOIX

GMOIX Risk / Return Rank: 80
GMOIX Sharpe Ratio Rank: 80
GMOIX Sortino Ratio Rank: 77
GMOIX Omega Ratio Rank: 77
GMOIX Calmar Ratio Rank: 83
GMOIX Martin Ratio Rank: 83

GOFIX

GOFIX Risk / Return Rank: 83
GOFIX Sharpe Ratio Rank: 85
GOFIX Sortino Ratio Rank: 77
GOFIX Omega Ratio Rank: 73
GOFIX Calmar Ratio Rank: 87
GOFIX Martin Ratio Rank: 95

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.

GMOIX vs. GOFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GMO International Equity Fund (GMOIX) and GMO Resources Fund (GOFIX). 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.

	GMOIX	GOFIX	Difference
Sharpe ratio: Return per unit of total volatility	2.23	2.38	-0.15
Sortino ratio: Return per unit of downside risk	3.09	3.09	0.00
Omega ratio: Gain probability vs. loss probability	1.41	1.39	+0.02
Calmar ratio: Return relative to maximum drawdown	3.36	3.68	-0.32
Martin ratio: Return relative to average drawdown	13.23	18.64	-5.41

GMOIX vs. GOFIX - Sharpe Ratio Comparison

The current GMOIX Sharpe Ratio is 2.23, which is comparable to the GOFIX Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of GMOIX and GOFIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GMOIX vs. GOFIX - Drawdown Comparison

The maximum GMOIX drawdown since its inception was -59.00%, which is greater than GOFIX's maximum drawdown of -51.77%. Use the drawdown chart below to compare losses from any high point for GMOIX and GOFIX.

Drawdown Indicators

	GMOIX	GOFIX	Difference
Max Drawdown Largest peak-to-trough decline	-59.00%	-51.77%	-7.23%
Max Drawdown (1Y) Largest decline over 1 year	-11.67%	-13.36%	+1.69%
Max Drawdown (3Y) Largest decline over 3 years	-13.41%	-41.28%	+27.87%
Max Drawdown (5Y) Largest decline over 5 years	-27.40%	-45.10%	+17.70%
Max Drawdown (10Y) Largest decline over 10 years	-40.14%	-45.98%	+5.84%
Current Drawdown Current decline from peak	-3.46%	-13.36%	+9.90%
Average Drawdown Average peak-to-trough decline	-12.89%	-13.56%	+0.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.96%	2.64%	+0.32%

Volatility

GMOIX vs. GOFIX - Volatility Comparison

GMO International Equity Fund (GMOIX) and GMO Resources Fund (GOFIX) have volatilities of 6.85% and 7.11%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GMOIX	GOFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.85%	7.11%	-0.26%
Volatility (6M) Calculated over the trailing 6-month period	14.50%	15.47%	-0.97%
Volatility (1Y) Calculated over the trailing 1-year period	17.63%	20.71%	-3.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.36%	25.33%	-8.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.72%	25.20%	-8.48%

GMOIX vs. GOFIX - Expense Ratio Comparison

GMOIX has a 0.66% expense ratio, which is lower than GOFIX's 0.72% expense ratio.

Dividends

GMOIX vs. GOFIX - Dividend Comparison

GMOIX's dividend yield for the trailing twelve months is around 4.80%, more than GOFIX's 3.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GMOIX GMO International Equity Fund	4.80%	5.62%	2.77%	7.54%	4.32%	6.40%	4.56%	3.49%	3.74%	3.11%	4.00%	3.26%
GOFIX GMO Resources Fund	3.72%	4.38%	3.01%	5.90%	10.25%	17.81%	3.66%	2.99%	4.06%	3.86%	2.89%	3.30%

Frequently Asked Questions

Can I hold both GMOIX and GOFIX in my portfolio?

GMOIX and GOFIX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GMOIX or GOFIX?

GOFIX has higher volatility (7.11%) compared to GMOIX (6.85%). In terms of maximum drawdown, GMOIX dropped -59.00% vs GOFIX's -51.77%.

Which has better risk-adjusted returns?

GOFIX currently has the higher Sharpe Ratio (2.38 vs 2.23), 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.