GMOM vs. GAA
GMOM (Cambria Global Momentum ETF) and GAA (Cambria Global Asset Allocation ETF) are both exchange-traded funds - GMOM is a Momentum fund actively managed by Cambria, while GAA is a Diversified Portfolio fund actively managed by Cambria. Both are actively managed. Over the past 10 years, GMOM returned 7.06%/yr vs 7.69%/yr for GAA. A 0.59 correlation means they provide meaningful diversification when combined. GMOM charges 0.96%/yr vs 0.41%/yr for GAA.
Performance
GMOM vs. GAA - Performance Comparison
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Returns By Period
In the year-to-date period, GMOM achieves a 5.91% return, which is significantly lower than GAA's 7.45% return. Over the past 10 years, GMOM has underperformed GAA with an annualized return of 7.06%, while GAA has yielded a comparatively higher 7.69% annualized return.
GMOM
- 1D
- 0.61%
- 1M
- -4.96%
- YTD
- 5.91%
- 6M
- 4.60%
- 1Y
- 21.97%
- 3Y*
- 11.69%
- 5Y*
- 6.15%
- 10Y*
- 7.06%
GAA
- 1D
- 0.07%
- 1M
- -1.82%
- YTD
- 7.45%
- 6M
- 6.53%
- 1Y
- 17.66%
- 3Y*
- 13.18%
- 5Y*
- 6.18%
- 10Y*
- 7.69%
GMOM vs. GAA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GMOM Cambria Global Momentum ETF | 5.91% | 20.63% | 6.75% | 0.65% | -2.82% | 19.13% | 2.42% | 8.24% | -9.61% | 20.67% |
GAA Cambria Global Asset Allocation ETF | 7.45% | 18.76% | 6.67% | 7.65% | -8.47% | 11.17% | 9.11% | 15.12% | -7.15% | 15.11% |
Correlation
The correlation between GMOM and GAA is 0.62, 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 | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2014 | 0.59 |
The correlation between GMOM and GAA has been stable across timeframes, ranging from 0.58 to 0.62 - a consistent structural relationship.
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Return for Risk
GMOM vs. GAA — Risk / Return Rank
GMOM
GAA
GMOM vs. GAA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Cambria Global Momentum ETF (GMOM) and Cambria Global Asset Allocation ETF (GAA). 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.
| GMOM | GAA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.36 | ||
| Sortino ratioReturn per unit of downside risk | -0.57 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.35 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.31 | 3.07 | -0.76 |
| Martin ratioReturn relative to average drawdown | 8.13 | 11.38 | -3.25 |
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Drawdowns
GMOM vs. GAA - Drawdown Comparison
The maximum GMOM drawdown since its inception was -25.03%, smaller than the maximum GAA drawdown of -26.57%. Use the drawdown chart below to compare losses from any high point for GMOM and GAA.
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Drawdown Indicators
| GMOM | GAA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.03% | -26.57% | +1.54% |
Max Drawdown (1Y)Largest decline over 1 year | -9.57% | -5.78% | -3.79% |
Max Drawdown (3Y)Largest decline over 3 years | -13.73% | -7.18% | -6.55% |
Max Drawdown (5Y)Largest decline over 5 years | -19.16% | -18.47% | -0.69% |
Max Drawdown (10Y)Largest decline over 10 years | -25.03% | -26.57% | +1.54% |
Current DrawdownCurrent decline from peak | -7.04% | -2.43% | -4.61% |
Average DrawdownAverage peak-to-trough decline | -7.79% | -3.84% | -3.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.71% | 1.56% | +1.15% |
Volatility
GMOM vs. GAA - Volatility Comparison
Cambria Global Momentum ETF (GMOM) has a higher volatility of 5.26% compared to Cambria Global Asset Allocation ETF (GAA) at 3.56%. This indicates that GMOM's price experiences larger fluctuations and is considered to be riskier than GAA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GMOM | GAA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.26% | 3.56% | +1.70% |
Volatility (6M)Calculated over the trailing 6-month period | 12.11% | 8.01% | +4.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.49% | 9.43% | +5.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.50% | 11.35% | +3.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.91% | 11.10% | +1.81% |
GMOM vs. GAA - Expense Ratio Comparison
GMOM has a 0.96% expense ratio, which is higher than GAA's 0.41% expense ratio.
Dividends
GMOM vs. GAA - Dividend Comparison
GMOM's dividend yield for the trailing twelve months is around 1.54%, less than GAA's 3.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GAA Cambria Global Asset Allocation ETF | 3.54% | 4.24% | 3.88% | 3.73% | 6.05% | 4.21% | 2.73% | 3.32% | 3.01% | 2.36% | 2.82% | 2.49% |
GMOM Cambria Global Momentum ETF | 1.54% | 3.01% | 2.16% | 3.63% | 2.52% | 3.42% | 1.24% | 2.60% | 1.90% | 2.05% | 1.77% | 1.88% |
Frequently Asked Questions
GMOM and GAA have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GMOM has higher volatility (5.26%) compared to GAA (3.56%). In terms of maximum drawdown, GMOM dropped -25.03% vs GAA's -26.57%.
On 10-year performance, GAA leads with 7.69% vs 7.06% for GMOM. On fees, GAA is cheaper at 0.41% per year. On volatility, GAA has been the lower-risk option at 3.56%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GAA has performed better with a 7.69% return vs 7.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GAA is cheaper with a 0.41% expense ratio, compared with 0.96% for GMOM.
GAA has the higher dividend yield at 3.54%, compared with 1.54% for GMOM.
GMOM is categorized as Momentum, while GAA is Diversified Portfolio. Their fees differ too: 0.96% for GMOM and 0.41% for GAA.
GAA currently has the higher Sharpe Ratio (1.88 vs 1.52), 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.
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