GOFIX vs. GMGEX

Last updated Jun 4, 2026

GOFIX (GMO Resources Fund) and GMGEX (GMO Global Equity Allocation Fund) are both mutual funds - GOFIX is a Energy Equities fund managed by GMO, while GMGEX is a Global Equities fund managed by GMO. Over the past 10 years, GOFIX returned 14.42%/yr vs 11.33%/yr for GMGEX. A 0.79 correlation means they provide meaningful diversification when combined. GOFIX charges 0.72%/yr vs 0.01%/yr for GMGEX.

Performance

GOFIX vs. GMGEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GMO Resources Fund (GOFIX) and GMO Global Equity Allocation Fund (GMGEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GOFIX achieves a 36.01% return, which is significantly higher than GMGEX's 19.85% return. Over the past 10 years, GOFIX has outperformed GMGEX with an annualized return of 14.42%, while GMGEX has yielded a comparatively lower 11.33% annualized return.

GOFIX

• 1D: 1.59%
• 1M: 2.05%
• YTD: 36.01%
• 6M: 36.89%
• 1Y: 77.40%
• 3Y*: 12.17%
• 5Y*: 7.85%
• 10Y*: 14.42%

GMGEX

• 1D: 0.65%
• 1M: 7.86%
• YTD: 19.85%
• 6M: 21.91%
• 1Y: 42.42%
• 3Y*: 21.98%
• 5Y*: 10.11%
• 10Y*: 11.33%

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

GOFIX vs. GMGEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GOFIX GMO Resources Fund	36.01%	23.10%	-17.91%	-1.38%	-0.80%	32.01%	22.47%	20.10%	-6.73%	28.42%
GMGEX GMO Global Equity Allocation Fund	19.85%	29.14%	4.12%	22.27%	-17.07%	14.99%	9.55%	25.45%	-13.04%	26.39%

Correlation

The correlation between GOFIX and GMGEX is 0.52, 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	0.52
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (10Y) Calculated over the trailing 10-year period	0.77
Correlation (All Time) Calculated using the full available price history since Jan 4, 2012	0.79

Over the past year, the correlation between GOFIX and GMGEX has dropped to 0.52 - well below their long-term average of 0.79, suggesting their price drivers have been diverging.

Return for Risk

GOFIX vs. GMGEX — Risk / Return Rank

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

GOFIX

GOFIX Risk / Return Rank: 96
GOFIX Sharpe Ratio Rank: 98
GOFIX Sortino Ratio Rank: 94
GOFIX Omega Ratio Rank: 90
GOFIX Calmar Ratio Rank: 99
GOFIX Martin Ratio Rank: 99

GMGEX

GMGEX Risk / Return Rank: 91
GMGEX Sharpe Ratio Rank: 95
GMGEX Sortino Ratio Rank: 92
GMGEX Omega Ratio Rank: 88
GMGEX Calmar Ratio Rank: 90
GMGEX Martin Ratio Rank: 90

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.

GOFIX vs. GMGEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GMO Resources Fund (GOFIX) and GMO Global Equity Allocation Fund (GMGEX). 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.

	GOFIX	GMGEX	Difference
Sharpe ratio: Return per unit of total volatility	4.03	3.37	+0.66
Sortino ratio: Return per unit of downside risk	4.93	4.59	+0.33
Omega ratio: Gain probability vs. loss probability	1.64	1.62	+0.02
Calmar ratio: Return relative to maximum drawdown	13.39	4.61	+8.78
Martin ratio: Return relative to average drawdown	41.88	18.29	+23.59
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GOFIX vs. GMGEX - Sharpe Ratio Comparison

The current GOFIX Sharpe Ratio is 4.03, which is comparable to the GMGEX Sharpe Ratio of 3.37. The chart below compares the historical Sharpe Ratios of GOFIX and GMGEX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GOFIX	GMGEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.03	3.37	+0.66
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.31	0.69	-0.37
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.57	0.71	-0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	0.25	+0.10

Drawdowns

GOFIX vs. GMGEX - Drawdown Comparison

The maximum GOFIX drawdown since its inception was -51.77%, smaller than the maximum GMGEX drawdown of -58.47%. Use the drawdown chart below to compare losses from any high point for GOFIX and GMGEX.

Drawdown Indicators

	GOFIX	GMGEX	Difference
Max Drawdown Largest peak-to-trough decline	-51.77%	-58.47%	+6.70%
Max Drawdown (1Y) Largest decline over 1 year	-6.04%	-9.24%	+3.20%
Max Drawdown (3Y) Largest decline over 3 years	-41.28%	-17.12%	-24.16%
Max Drawdown (5Y) Largest decline over 5 years	-45.10%	-28.58%	-16.52%
Max Drawdown (10Y) Largest decline over 10 years	-45.98%	-34.98%	-11.00%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-13.59%	-16.75%	+3.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.93%	2.32%	-0.39%

Volatility

GOFIX vs. GMGEX - Volatility Comparison

GMO Resources Fund (GOFIX) and GMO Global Equity Allocation Fund (GMGEX) have volatilities of 3.96% and 4.04%, 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

	GOFIX	GMGEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.96%	4.04%	-0.08%
Volatility (6M) Calculated over the trailing 6-month period	14.05%	9.91%	+4.14%
Volatility (1Y) Calculated over the trailing 1-year period	20.06%	12.65%	+7.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.18%	14.81%	+10.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.33%	16.06%	+9.27%

GOFIX vs. GMGEX - Expense Ratio Comparison

GOFIX has a 0.72% expense ratio, which is higher than GMGEX's 0.01% expense ratio.

Dividends

GOFIX vs. GMGEX - Dividend Comparison

GOFIX's dividend yield for the trailing twelve months is around 3.22%, less than GMGEX's 3.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GMGEX GMO Global Equity Allocation Fund	3.91%	4.69%	0.29%	5.62%	7.81%	7.76%	3.83%	3.14%	3.14%	2.90%	3.71%	4.20%
GOFIX GMO Resources Fund	3.22%	4.38%	3.01%	5.90%	10.25%	17.81%	3.66%	2.99%	4.06%	3.86%	2.89%	3.30%

Frequently Asked Questions

Can I hold both GOFIX and GMGEX in my portfolio?

GOFIX and GMGEX have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GOFIX or GMGEX?

GMGEX has higher volatility (4.04%) compared to GOFIX (3.96%). In terms of maximum drawdown, GOFIX dropped -51.77% vs GMGEX's -58.47%.

Which has better risk-adjusted returns?

GOFIX currently has the higher Sharpe Ratio (4.03 vs 3.37), 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.