GMOQX vs. VEMBX

Last updated Aug 4, 2026

GMOQX (GMO Emerging Country Debt Fund Class VI) and VEMBX (Vanguard Emerging Markets Bond Fund Investor Shares) are both Emerging Markets Bonds funds. Over the past 3 years, GMOQX returned 17.44%/yr vs 10.02%/yr for VEMBX. Their correlation of 0.85 means they have usually moved in the same direction. GMOQX charges 0.51%/yr vs 0.50%/yr for VEMBX.

Performance

GMOQX vs. VEMBX - Performance Comparison

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

Returns By Period

In the year-to-date period, GMOQX achieves a 8.28% return, which is significantly higher than VEMBX's 2.04% return.

GMOQX

• 1D: 0.08%
• 1M: -0.94%
• 6M: 4.11%
• YTD: 8.28%
• 1Y: 19.92%
• 3Y*: 17.44%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.63%

VEMBX

• 1D: -0.09%
• 1M: -1.21%
• 6M: 1.38%
• YTD: 2.04%
• 1Y: 8.70%
• 3Y*: 10.02%
• 5Y*: 3.97%
• 10Y*: —
• ALL TIME*: 6.62%

*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)
GMOQX GMO Emerging Country Debt Fund Class VI	$0.00	$0.00	$0.00
VEMBX Vanguard Emerging Markets Bond Fund Investor Shares	$0.00	$0.00	$0.00

GMOQX vs. VEMBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
GMOQX GMO Emerging Country Debt Fund Class VI	8.28%	22.45%	12.60%	17.76%	-16.26%	-2.20%
VEMBX Vanguard Emerging Markets Bond Fund Investor Shares	2.04%	14.32%	7.38%	13.66%	-13.18%	-1.79%

Correlation

The correlation between GMOQX and VEMBX is 0.85, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.85
Correlation (3Y) Balances recent behavior with more history.	0.82
Correlation (All Time) Calculated using the full available price history since Aug 16, 2021	0.85

The correlation between GMOQX and VEMBX has been stable across timeframes, ranging from 0.82 to 0.85 - a consistent structural relationship.

Return for Risk

GMOQX vs. VEMBX — Risk / Return Rank

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

GMOQX

GMOQX Risk / Return Rank: 98
GMOQX Sharpe Ratio Rank: 99
GMOQX Sortino Ratio Rank: 99
GMOQX Omega Ratio Rank: 98
GMOQX Calmar Ratio Rank: 97
GMOQX Martin Ratio Rank: 98

VEMBX

VEMBX Risk / Return Rank: 81
VEMBX Sharpe Ratio Rank: 85
VEMBX Sortino Ratio Rank: 88
VEMBX Omega Ratio Rank: 83
VEMBX Calmar Ratio Rank: 69
VEMBX Martin Ratio Rank: 80

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.

GMOQX vs. VEMBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GMO Emerging Country Debt Fund Class VI (GMOQX) and Vanguard Emerging Markets Bond Fund Investor Shares (VEMBX). 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.

	GMOQX	VEMBX	Difference
Sharpe ratio: Return per unit of total volatility	3.73	2.07	+1.66
Sortino ratio: Return per unit of downside risk	6.59	3.30	+3.29
Omega ratio: Gain probability vs. loss probability	1.88	1.40	+0.47
Calmar ratio: Return relative to maximum drawdown	5.18	2.38	+2.80
Martin ratio: Return relative to average drawdown	21.64	10.12	+11.52

GMOQX vs. VEMBX - Sharpe Ratio Comparison

The current GMOQX Sharpe Ratio is 3.73, which is higher than the VEMBX Sharpe Ratio of 2.07. The chart below compares the historical Sharpe Ratios of GMOQX and VEMBX, 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

GMOQX vs. VEMBX - Drawdown Comparison

The maximum GMOQX drawdown since its inception was -31.41%, which is greater than VEMBX's maximum drawdown of -24.36%. Use the drawdown chart below to compare losses from any high point for GMOQX and VEMBX.

Drawdown Indicators

	GMOQX	VEMBX	Difference
Max Drawdown Largest peak-to-trough decline	-31.41%	-24.36%	-7.05%
Max Drawdown (1Y) Largest decline over 1 year	-3.82%	-3.77%	-0.05%
Max Drawdown (3Y) Largest decline over 3 years	-9.02%	-5.00%	-4.02%
Max Drawdown (5Y) Largest decline over 5 years	—	-24.36%	—
Current Drawdown Current decline from peak	-1.34%	-1.46%	+0.12%
Average Drawdown Average peak-to-trough decline	-9.40%	-3.81%	-5.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.91%	0.88%	+0.03%

Volatility

GMOQX vs. VEMBX - Volatility Comparison

GMO Emerging Country Debt Fund Class VI (GMOQX) and Vanguard Emerging Markets Bond Fund Investor Shares (VEMBX) have volatilities of 0.96% and 0.99%, 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

	GMOQX	VEMBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.96%	0.99%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	4.00%	3.67%	+0.33%
Volatility (1Y) Calculated over the trailing 1-year period	5.31%	4.32%	+0.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.71%	6.38%	+4.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.71%	6.32%	+4.39%

GMOQX vs. VEMBX - Expense Ratio Comparison

GMOQX has a 0.51% expense ratio, which is higher than VEMBX's 0.50% expense ratio.

Dividends

GMOQX vs. VEMBX - Dividend Comparison

GMOQX's dividend yield for the trailing twelve months is around 4.57%, less than VEMBX's 5.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
GMOQX GMO Emerging Country Debt Fund Class VI	4.57%	6.37%	6.23%	10.36%	13.87%	7.44%	0.00%	0.00%	0.00%	0.00%
VEMBX Vanguard Emerging Markets Bond Fund Investor Shares	5.50%	6.20%	6.86%	7.06%	5.43%	5.00%	4.50%	6.27%	4.81%	6.50%

Frequently Asked Questions

Can I hold both GMOQX and VEMBX in my portfolio?

GMOQX and VEMBX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GMOQX or VEMBX?

VEMBX has higher volatility (0.99%) compared to GMOQX (0.96%). In terms of maximum drawdown, GMOQX dropped -31.41% vs VEMBX's -24.36%.

Which has better risk-adjusted returns?

GMOQX currently has the higher Sharpe Ratio (3.73 vs 2.07), 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.