GOFIX vs. GWOAX

Last updated Jun 4, 2026

GOFIX (GMO Resources Fund) and GWOAX (GMO Global Developed Equity Allocation Fund) are both mutual funds - GOFIX is a Energy Equities fund managed by GMO, while GWOAX is a Global Equities fund managed by GMO. Over the past 10 years, GOFIX returned 14.42%/yr vs 12.17%/yr for GWOAX. A 0.78 correlation means they provide meaningful diversification when combined. GOFIX charges 0.72%/yr vs 0.01%/yr for GWOAX.

Performance

GOFIX vs. GWOAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GMO Resources Fund (GOFIX) and GMO Global Developed Equity Allocation Fund (GWOAX). 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 GWOAX's 16.38% return. Over the past 10 years, GOFIX has outperformed GWOAX with an annualized return of 14.42%, while GWOAX has yielded a comparatively lower 12.17% 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%

GWOAX

• 1D: 0.59%
• 1M: 5.69%
• YTD: 16.38%
• 6M: 18.34%
• 1Y: 37.95%
• 3Y*: 21.19%
• 5Y*: 10.98%
• 10Y*: 12.17%

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

GOFIX vs. GWOAX - 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%
GWOAX GMO Global Developed Equity Allocation Fund	16.38%	28.37%	6.14%	22.49%	-14.10%	18.53%	10.53%	26.56%	-12.95%	25.63%

Correlation

The correlation between GOFIX and GWOAX is 0.50, 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	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (10Y) Calculated over the trailing 10-year period	0.75
Correlation (All Time) Calculated using the full available price history since Jan 4, 2012	0.78

Over the past year, the correlation between GOFIX and GWOAX has dropped to 0.50 - well below their long-term average of 0.78, suggesting their price drivers have been diverging.

Return for Risk

GOFIX vs. GWOAX — 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

GWOAX

GWOAX Risk / Return Rank: 88
GWOAX Sharpe Ratio Rank: 91
GWOAX Sortino Ratio Rank: 88
GWOAX Omega Ratio Rank: 83
GWOAX Calmar Ratio Rank: 88
GWOAX Martin Ratio Rank: 88

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. GWOAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GMO Resources Fund (GOFIX) and GMO Global Developed Equity Allocation Fund (GWOAX). 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	GWOAX	Difference
Sharpe ratio: Return per unit of total volatility	4.03	3.07	+0.96
Sortino ratio: Return per unit of downside risk	4.93	4.23	+0.70
Omega ratio: Gain probability vs. loss probability	1.64	1.56	+0.08
Calmar ratio: Return relative to maximum drawdown	13.39	4.33	+9.06
Martin ratio: Return relative to average drawdown	41.88	17.30	+24.58
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. GWOAX - Sharpe Ratio Comparison

The current GOFIX Sharpe Ratio is 4.03, which is higher than the GWOAX Sharpe Ratio of 3.07. The chart below compares the historical Sharpe Ratios of GOFIX and GWOAX, 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	GWOAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.03	3.07	+0.96
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.31	0.72	-0.41
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.57	0.74	-0.17
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	0.47	-0.12

Drawdowns

GOFIX vs. GWOAX - Drawdown Comparison

The maximum GOFIX drawdown since its inception was -51.77%, roughly equal to the maximum GWOAX drawdown of -49.84%. Use the drawdown chart below to compare losses from any high point for GOFIX and GWOAX.

Drawdown Indicators

	GOFIX	GWOAX	Difference
Max Drawdown Largest peak-to-trough decline	-51.77%	-49.84%	-1.93%
Max Drawdown (1Y) Largest decline over 1 year	-6.04%	-8.78%	+2.74%
Max Drawdown (3Y) Largest decline over 3 years	-41.28%	-16.11%	-25.17%
Max Drawdown (5Y) Largest decline over 5 years	-45.10%	-26.21%	-18.89%
Max Drawdown (10Y) Largest decline over 10 years	-45.98%	-35.28%	-10.70%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-13.59%	-9.00%	-4.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.93%	2.19%	-0.26%

Volatility

GOFIX vs. GWOAX - Volatility Comparison

GMO Resources Fund (GOFIX) has a higher volatility of 3.96% compared to GMO Global Developed Equity Allocation Fund (GWOAX) at 3.36%. This indicates that GOFIX's price experiences larger fluctuations and is considered to be riskier than GWOAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GOFIX	GWOAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.96%	3.36%	+0.60%
Volatility (6M) Calculated over the trailing 6-month period	14.05%	9.48%	+4.57%
Volatility (1Y) Calculated over the trailing 1-year period	20.06%	12.39%	+7.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.18%	15.22%	+9.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.33%	16.50%	+8.83%

GOFIX vs. GWOAX - Expense Ratio Comparison

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

Dividends

GOFIX vs. GWOAX - Dividend Comparison

GOFIX's dividend yield for the trailing twelve months is around 3.22%, less than GWOAX's 3.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
GWOAX GMO Global Developed Equity Allocation Fund	3.83%	4.46%	0.60%	6.10%	7.27%	12.75%	3.85%	4.33%	3.02%	3.05%	6.43%	12.47%

Frequently Asked Questions

Can I hold both GOFIX and GWOAX in my portfolio?

GOFIX and GWOAX have a correlation of 0.50, 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 GWOAX?

GOFIX has higher volatility (3.96%) compared to GWOAX (3.36%). In terms of maximum drawdown, GOFIX dropped -51.77% vs GWOAX's -49.84%.

Which has better risk-adjusted returns?

GOFIX currently has the higher Sharpe Ratio (4.03 vs 3.07), 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.