GMOIX vs. QLTY

Last updated Aug 4, 2026

GMOIX (GMO International Equity Fund) and QLTY (GMO U.S. Quality ETF) are both funds - GMOIX is a Foreign Large Cap Equities fund managed by GMO, while QLTY is a Quality Factor fund tracking the S&P 500. Over the past year, GMOIX returned 40.01% vs 26.67% for QLTY. Their 0.61 correlation means they have sometimes moved together and sometimes differently. GMOIX charges 0.66%/yr vs 0.50%/yr for QLTY.

Performance

GMOIX vs. QLTY - Performance Comparison

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

Returns By Period

In the year-to-date period, GMOIX achieves a 19.87% return, which is significantly higher than QLTY's 10.35% return.

GMOIX

• 1D: -0.37%
• 1M: 1.86%
• 6M: 11.62%
• YTD: 19.87%
• 1Y: 40.01%
• 3Y*: 26.29%
• 5Y*: 15.68%
• 10Y*: 12.34%
• ALL TIME*: 5.92%

QLTY

• 1D: 1.22%
• 1M: 1.41%
• 6M: 7.42%
• YTD: 10.35%
• 1Y: 26.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 21.69%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GMOIX GMO International Equity Fund	$0.00	$0.00	$0.00
QLTY GMO U.S. Quality ETF	$16.15M	$16.07M	$19.48M

GMOIX vs. QLTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
GMOIX GMO International Equity Fund	19.87%	43.94%	11.54%	6.68%
QLTY GMO U.S. Quality ETF	10.35%	21.26%	21.02%	5.25%

Correlation

The correlation between GMOIX and QLTY is 0.68, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.68
Correlation (All Time) Calculated using the full available price history since Nov 15, 2023	0.61

The correlation between GMOIX and QLTY has been stable across timeframes, ranging from 0.61 to 0.68 - a consistent structural relationship.

Return for Risk

GMOIX vs. QLTY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GMOIX

GMOIX Risk / Return Rank: 87
GMOIX Sharpe Ratio Rank: 88
GMOIX Sortino Ratio Rank: 85
GMOIX Omega Ratio Rank: 83
GMOIX Calmar Ratio Rank: 90
GMOIX Martin Ratio Rank: 91

QLTY

QLTY Risk / Return Rank: 78
QLTY Sharpe Ratio Rank: 87
QLTY Sortino Ratio Rank: 86
QLTY Omega Ratio Rank: 84
QLTY Calmar Ratio Rank: 63
QLTY Martin Ratio Rank: 72

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

GMOIX vs. QLTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GMO International Equity Fund (GMOIX) and GMO U.S. Quality ETF (QLTY). 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	QLTY	Difference
Sharpe ratio: Return per unit of total volatility	2.23	2.11	+0.11
Sortino ratio: Return per unit of downside risk	3.10	2.96	+0.14
Omega ratio: Gain probability vs. loss probability	1.41	1.37	+0.04
Calmar ratio: Return relative to maximum drawdown	3.46	2.29	+1.17
Martin ratio: Return relative to average drawdown	13.13	9.23	+3.89

GMOIX vs. QLTY - Sharpe Ratio Comparison

The current GMOIX Sharpe Ratio is 2.23, which is comparable to the QLTY Sharpe Ratio of 2.11. The chart below compares the historical Sharpe Ratios of GMOIX and QLTY, 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. QLTY - Drawdown Comparison

The maximum GMOIX drawdown since its inception was -59.00%, which is greater than QLTY's maximum drawdown of -17.00%. Use the drawdown chart below to compare losses from any high point for GMOIX and QLTY.

Drawdown Indicators

	GMOIX	QLTY	Difference
Max Drawdown Largest peak-to-trough decline	-59.00%	-17.00%	-42.00%
Max Drawdown (1Y) Largest decline over 1 year	-11.67%	-11.71%	+0.04%
Max Drawdown (3Y) Largest decline over 3 years	-13.41%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-27.40%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-40.14%	—	—
Current Drawdown Current decline from peak	-1.17%	0.00%	-1.17%
Average Drawdown Average peak-to-trough decline	-12.87%	-2.00%	-10.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.07%	2.90%	+0.17%

Volatility

GMOIX vs. QLTY - Volatility Comparison

GMO International Equity Fund (GMOIX) has a higher volatility of 5.70% compared to GMO U.S. Quality ETF (QLTY) at 3.14%. This indicates that GMOIX's price experiences larger fluctuations and is considered to be riskier than QLTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GMOIX	QLTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.70%	3.14%	+2.56%
Volatility (6M) Calculated over the trailing 6-month period	15.18%	9.63%	+5.55%
Volatility (1Y) Calculated over the trailing 1-year period	18.13%	12.70%	+5.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.42%	14.52%	+1.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.75%	14.52%	+2.23%

GMOIX vs. QLTY - Expense Ratio Comparison

GMOIX has a 0.66% expense ratio, which is higher than QLTY's 0.50% expense ratio.

Dividends

GMOIX vs. QLTY - Dividend Comparison

GMOIX's dividend yield for the trailing twelve months is around 4.17%, more than QLTY's 0.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GMOIX GMO International Equity Fund	4.17%	5.62%	2.77%	7.54%	4.32%	6.40%	4.56%	3.49%	3.74%	3.11%	4.00%	3.26%
QLTY GMO U.S. Quality ETF	0.71%	0.73%	0.79%	0.15%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GMOIX and QLTY in my portfolio?

GMOIX and QLTY have a correlation of 0.68, 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 QLTY?

GMOIX has higher volatility (5.70%) compared to QLTY (3.14%). In terms of maximum drawdown, GMOIX dropped -59.00% vs QLTY's -17.00%.

Which has better risk-adjusted returns?

GMOIX currently has the higher Sharpe Ratio (2.23 vs 2.11), 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.