GMOQX vs. PACEX

Last updated Apr 2, 2026

Compare and contrast key facts about GMO Emerging Country Debt Fund Class VI (GMOQX) and T. Rowe Price Emerging Markets Corporate Bond Fund (PACEX).

GMOQX is an actively managed fund by GMO. It was launched on Apr 19, 1994. PACEX is managed by T. Rowe Price. It was launched on May 23, 2012.

Performance

GMOQX vs. PACEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GMO Emerging Country Debt Fund Class VI (GMOQX) and T. Rowe Price Emerging Markets Corporate Bond Fund (PACEX). The values are adjusted to include any dividend payments, if applicable.

GMOQX vs. PACEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
GMOQX GMO Emerging Country Debt Fund Class VI	2.32%	22.45%	12.60%	17.76%	-16.26%	-2.20%
PACEX T. Rowe Price Emerging Markets Corporate Bond Fund	-1.68%	8.38%	6.64%	6.38%	-13.41%	-2.59%

Returns By Period

In the year-to-date period, GMOQX achieves a 2.32% return, which is significantly higher than PACEX's -1.68% return.

GMOQX

• 1D: 0.31%
• 1M: -2.50%
• YTD: 2.32%
• 6M: 8.47%
• 1Y: 20.48%
• 3Y*: 17.70%
• 5Y*: —
• 10Y*: —

PACEX

• 1D: 0.00%
• 1M: -2.76%
• YTD: -1.68%
• 6M: -0.80%
• 1Y: 4.21%
• 3Y*: 6.13%
• 5Y*: 0.75%
• 10Y*: 3.41%

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

GMOQX vs. PACEX - Expense Ratio Comparison

GMOQX has a 0.51% expense ratio, which is lower than PACEX's 1.16% expense ratio.

PACEX

T. Rowe Price Emerging Markets Corporate Bond Fund

GMOQX

GMO Emerging Country Debt Fund Class VI

Return for Risk

GMOQX vs. PACEX — Risk / Return Rank

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

GMOQX

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

PACEX

PACEX Risk / Return Rank: 60
PACEX Sharpe Ratio Rank: 69
PACEX Sortino Ratio Rank: 66
PACEX Omega Ratio Rank: 79
PACEX Calmar Ratio Rank: 44
PACEX Martin Ratio Rank: 41

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.

GMOQX vs. PACEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GMO Emerging Country Debt Fund Class VI (GMOQX) and T. Rowe Price Emerging Markets Corporate Bond Fund (PACEX). 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.

	GMOQX	PACEX	Difference
Sharpe ratio Return per unit of total volatility	3.14	1.37	+1.78
Sortino ratio Return per unit of downside risk	4.57	1.87	+2.70
Omega ratio Gain probability vs. loss probability	1.75	1.33	+0.42
Calmar ratio Return relative to maximum drawdown	3.59	1.40	+2.19
Martin ratio Return relative to average drawdown	18.03	5.13	+12.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GMOQX vs. PACEX - Sharpe Ratio Comparison

The current GMOQX Sharpe Ratio is 3.14, which is higher than the PACEX Sharpe Ratio of 1.37. The chart below compares the historical Sharpe Ratios of GMOQX and PACEX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	GMOQX	PACEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.14	1.37	+1.78
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.22	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.84	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	0.94	-0.31

Correlation

The correlation between GMOQX and PACEX is 0.64, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

GMOQX vs. PACEX - Dividend Comparison

GMOQX's dividend yield for the trailing twelve months is around 6.23%, more than PACEX's 5.19% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GMOQX GMO Emerging Country Debt Fund Class VI	6.23%	6.37%	6.23%	10.36%	13.87%	7.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PACEX T. Rowe Price Emerging Markets Corporate Bond Fund	5.19%	5.50%	4.76%	3.86%	3.06%	3.36%	3.85%	4.26%	4.46%	3.94%	4.27%	4.92%

Drawdowns

GMOQX vs. PACEX - Drawdown Comparison

The maximum GMOQX drawdown since its inception was -31.41%, which is greater than PACEX's maximum drawdown of -23.40%. Use the drawdown chart below to compare losses from any high point for GMOQX and PACEX.

Drawdown Indicators

	GMOQX	PACEX	Difference
Max Drawdown Largest peak-to-trough decline	-31.41%	-23.40%	-8.01%
Max Drawdown (1Y) Largest decline over 1 year	-5.66%	-3.35%	-2.31%
Max Drawdown (5Y) Largest decline over 5 years	—	-23.40%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-23.40%	—
Current Drawdown Current decline from peak	-3.53%	-3.07%	-0.46%
Average Drawdown Average peak-to-trough decline	-10.04%	-4.20%	-5.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.14%	0.91%	+0.23%

Volatility

GMOQX vs. PACEX - Volatility Comparison

GMO Emerging Country Debt Fund Class VI (GMOQX) has a higher volatility of 2.28% compared to T. Rowe Price Emerging Markets Corporate Bond Fund (PACEX) at 0.87%. This indicates that GMOQX's price experiences larger fluctuations and is considered to be riskier than PACEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GMOQX	PACEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.28%	0.87%	+1.41%
Volatility (6M) Calculated over the trailing 6-month period	3.93%	1.81%	+2.12%
Volatility (1Y) Calculated over the trailing 1-year period	6.71%	3.19%	+3.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.00%	3.43%	+7.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.00%	4.06%	+6.94%