GMOV vs. INVG

Last updated Jun 4, 2026

GMOV (GMO U.S. Value ETF) and INVG (GMO Systematic Investment Grade Credit ETF) are both exchange-traded funds - GMOV is a Large Cap Value Equities fund tracking the MSCI USA Value (Gross), while INVG is a Corporate Bonds fund actively managed by GMO. GMOV is passively managed, while INVG is actively managed. At a 0.34 correlation, their price movements are largely independent. GMOV charges 0.50%/yr vs 0.25%/yr for INVG.

Performance

GMOV vs. INVG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GMO U.S. Value ETF (GMOV) and GMO Systematic Investment Grade Credit ETF (INVG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GMOV achieves a 10.24% return, which is significantly higher than INVG's 0.68% return.

GMOV

• 1D: -0.59%
• 1M: 2.52%
• YTD: 10.24%
• 6M: 11.68%
• 1Y: 27.00%
• 3Y*: —
• 5Y*: —
• 10Y*: —

INVG

• 1D: -0.23%
• 1M: 0.73%
• YTD: 0.68%
• 6M: 0.36%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GMOV vs. INVG - Yearly Performance Comparison

	2026 (YTD)	2025
GMOV GMO U.S. Value ETF	10.24%	15.70%
INVG GMO Systematic Investment Grade Credit ETF	0.68%	4.69%

Correlation

The correlation between GMOV and INVG is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 5, 2025	0.34

Return for Risk

GMOV vs. INVG — Risk / Return Rank

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

GMOV

GMOV Risk / Return Rank: 79
GMOV Sharpe Ratio Rank: 77
GMOV Sortino Ratio Rank: 84
GMOV Omega Ratio Rank: 75
GMOV Calmar Ratio Rank: 83
GMOV Martin Ratio Rank: 78

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.

GMOV vs. INVG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GMO U.S. Value ETF (GMOV) and GMO Systematic Investment Grade Credit ETF (INVG). 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.

	GMOV	INVG	Difference
Sharpe ratio: Return per unit of total volatility	2.49	—	—
Sortino ratio: Return per unit of downside risk	3.72	—	—
Omega ratio: Gain probability vs. loss probability	1.44	—	—
Calmar ratio: Return relative to maximum drawdown	4.46	—	—
Martin ratio: Return relative to average drawdown	15.05	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	GMOV	INVG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.49	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.02	1.23	-0.22

Drawdowns

GMOV vs. INVG - Drawdown Comparison

The maximum GMOV drawdown since its inception was -16.71%, which is greater than INVG's maximum drawdown of -3.15%. Use the drawdown chart below to compare losses from any high point for GMOV and INVG.

Drawdown Indicators

	GMOV	INVG	Difference
Max Drawdown Largest peak-to-trough decline	-16.71%	-3.15%	-13.56%
Max Drawdown (1Y) Largest decline over 1 year	-6.08%	—	—
Current Drawdown Current decline from peak	-0.76%	-0.88%	+0.12%
Average Drawdown Average peak-to-trough decline	-2.84%	-0.71%	-2.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.80%	—	—

Volatility

Volatility by Period

	GMOV	INVG	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.18%	—	—
Volatility (6M) Calculated over the trailing 6-month period	7.26%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	10.90%	4.42%	+6.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.94%	4.42%	+10.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.94%	4.42%	+10.52%

GMOV vs. INVG - Expense Ratio Comparison

GMOV has a 0.50% expense ratio, which is higher than INVG's 0.25% expense ratio.

Dividends

GMOV vs. INVG - Dividend Comparison

GMOV's dividend yield for the trailing twelve months is around 2.02%, less than INVG's 4.68% yield.

Position	TTM	2025	2024
GMOV GMO U.S. Value ETF	2.02%	1.98%	0.30%
INVG GMO Systematic Investment Grade Credit ETF	4.68%	2.81%	0.00%

Frequently Asked Questions

Can I hold both GMOV and INVG in my portfolio?

GMOV and INVG have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GMOV or INVG?

On fees, INVG is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GMOV or INVG?

INVG is cheaper with a 0.25% expense ratio, compared with 0.50% for GMOV.

Which ETF pays a higher dividend yield, GMOV or INVG?

INVG has the higher dividend yield at 4.68%, compared with 2.02% for GMOV.

What is the main difference between GMOV and INVG?

GMOV is categorized as Large Cap Value Equities, while INVG is Corporate Bonds. Their fees differ too: 0.50% for GMOV and 0.25% for INVG.