GMWAX vs. SPGP
Compare and contrast key facts about GMO Global Asset Allocation Fund (GMWAX) and Invesco S&P 500 GARP ETF (SPGP).
GMWAX is managed by GMO. It was launched on Oct 21, 1996. SPGP is a passively managed fund by Invesco that tracks the performance of the S&P 500 GARP Index. It was launched on Jun 16, 2011.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: GMWAX or SPGP.
Correlation
The correlation between GMWAX and SPGP is 0.76, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
GMWAX vs. SPGP - Performance Comparison
Key characteristics
GMWAX:
0.97
SPGP:
0.90
GMWAX:
1.37
SPGP:
1.32
GMWAX:
1.17
SPGP:
1.16
GMWAX:
1.43
SPGP:
1.40
GMWAX:
3.56
SPGP:
3.85
GMWAX:
2.28%
SPGP:
3.49%
GMWAX:
8.35%
SPGP:
14.85%
GMWAX:
-77.25%
SPGP:
-42.08%
GMWAX:
-2.17%
SPGP:
-3.99%
Returns By Period
The year-to-date returns for both investments are quite close, with GMWAX having a 2.57% return and SPGP slightly higher at 2.61%. Over the past 10 years, GMWAX has underperformed SPGP with an annualized return of 4.08%, while SPGP has yielded a comparatively higher 13.82% annualized return.
GMWAX
2.57%
2.41%
3.81%
8.16%
4.61%
4.08%
SPGP
2.61%
1.29%
9.26%
11.42%
12.56%
13.82%
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GMWAX vs. SPGP - Expense Ratio Comparison
GMWAX has a 0.00% expense ratio, which is lower than SPGP's 0.36% expense ratio.
Risk-Adjusted Performance
GMWAX vs. SPGP — Risk-Adjusted Performance Rank
GMWAX
SPGP
GMWAX vs. SPGP - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for GMO Global Asset Allocation Fund (GMWAX) and Invesco S&P 500 GARP ETF (SPGP). 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.
Dividends
GMWAX vs. SPGP - Dividend Comparison
GMWAX's dividend yield for the trailing twelve months is around 4.92%, more than SPGP's 1.34% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GMWAX GMO Global Asset Allocation Fund | 4.92% | 5.05% | 5.47% | 3.78% | 6.17% | 4.00% | 4.00% | 3.77% | 2.50% | 3.27% | 3.96% | 3.94% |
SPGP Invesco S&P 500 GARP ETF | 1.34% | 1.38% | 1.24% | 1.22% | 0.69% | 1.10% | 0.86% | 0.95% | 0.68% | 0.89% | 1.12% | 1.52% |
Drawdowns
GMWAX vs. SPGP - Drawdown Comparison
The maximum GMWAX drawdown since its inception was -77.25%, which is greater than SPGP's maximum drawdown of -42.08%. Use the drawdown chart below to compare losses from any high point for GMWAX and SPGP. For additional features, visit the drawdowns tool.
Volatility
GMWAX vs. SPGP - Volatility Comparison
The current volatility for GMO Global Asset Allocation Fund (GMWAX) is 2.59%, while Invesco S&P 500 GARP ETF (SPGP) has a volatility of 3.62%. This indicates that GMWAX experiences smaller price fluctuations and is considered to be less risky than SPGP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.