GQEFX vs. GOFIX

Last updated Jun 4, 2026

GQEFX (GMO Quality Fund Class IV) and GOFIX (GMO Resources Fund) are both mutual funds - GQEFX is a Large Cap Blend Equities fund actively managed by GMO, while GOFIX is a Energy Equities fund managed by GMO. Over the past 5 years, GQEFX returned 13.45%/yr vs 7.85%/yr for GOFIX. A 0.58 correlation means they provide meaningful diversification when combined. GQEFX charges 0.47%/yr vs 0.72%/yr for GOFIX.

Performance

GQEFX vs. GOFIX - Performance Comparison

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

Returns By Period

In the year-to-date period, GQEFX achieves a 5.81% return, which is significantly lower than GOFIX's 36.01% return.

GQEFX

• 1D: -0.27%
• 1M: 4.21%
• YTD: 5.81%
• 6M: 6.69%
• 1Y: 22.90%
• 3Y*: 17.72%
• 5Y*: 13.45%
• 10Y*: —

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%

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

GQEFX vs. GOFIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GQEFX GMO Quality Fund Class IV	5.81%	19.64%	17.54%	28.95%	-15.30%	31.76%	18.39%	31.87%	0.54%	10.45%
GOFIX GMO Resources Fund	36.01%	23.10%	-17.91%	-1.38%	-0.80%	32.01%	22.47%	20.10%	-6.73%	27.41%

Correlation

The correlation between GQEFX and GOFIX is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.41
Correlation (5Y) Calculated over the trailing 5-year period	0.50
Correlation (All Time) Calculated using the full available price history since Jun 13, 2017	0.58

Over the past year, the correlation between GQEFX and GOFIX has dropped to 0.33 - well below their long-term average of 0.58, suggesting their price drivers have been diverging.

Return for Risk

GQEFX vs. GOFIX — Risk / Return Rank

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

GQEFX

GQEFX Risk / Return Rank: 35
GQEFX Sharpe Ratio Rank: 41
GQEFX Sortino Ratio Rank: 40
GQEFX Omega Ratio Rank: 37
GQEFX Calmar Ratio Rank: 24
GQEFX Martin Ratio Rank: 31

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

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.

GQEFX vs. GOFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GMO Quality Fund Class IV (GQEFX) and GMO Resources Fund (GOFIX). 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.

	GQEFX	GOFIX	Difference
Sharpe ratio: Return per unit of total volatility	1.89	4.03	-2.14
Sortino ratio: Return per unit of downside risk	2.68	4.93	-2.25
Omega ratio: Gain probability vs. loss probability	1.33	1.64	-0.31
Calmar ratio: Return relative to maximum drawdown	1.81	13.39	-11.58
Martin ratio: Return relative to average drawdown	7.19	41.88	-34.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GQEFX vs. GOFIX - Sharpe Ratio Comparison

The current GQEFX Sharpe Ratio is 1.89, which is lower than the GOFIX Sharpe Ratio of 4.03. The chart below compares the historical Sharpe Ratios of GQEFX and GOFIX, 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

	GQEFX	GOFIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.89	4.03	-2.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.85	0.31	+0.54
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.57	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.89	0.35	+0.53

Drawdowns

GQEFX vs. GOFIX - Drawdown Comparison

The maximum GQEFX drawdown since its inception was -30.42%, smaller than the maximum GOFIX drawdown of -51.77%. Use the drawdown chart below to compare losses from any high point for GQEFX and GOFIX.

Drawdown Indicators

	GQEFX	GOFIX	Difference
Max Drawdown Largest peak-to-trough decline	-30.42%	-51.77%	+21.35%
Max Drawdown (1Y) Largest decline over 1 year	-12.74%	-6.04%	-6.70%
Max Drawdown (3Y) Largest decline over 3 years	-15.55%	-41.28%	+25.73%
Max Drawdown (5Y) Largest decline over 5 years	-24.22%	-45.10%	+20.88%
Max Drawdown (10Y) Largest decline over 10 years	—	-45.98%	—
Current Drawdown Current decline from peak	-0.27%	0.00%	-0.27%
Average Drawdown Average peak-to-trough decline	-4.16%	-13.59%	+9.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.20%	1.93%	+1.27%

Volatility

GQEFX vs. GOFIX - Volatility Comparison

The current volatility for GMO Quality Fund Class IV (GQEFX) is 2.78%, while GMO Resources Fund (GOFIX) has a volatility of 3.96%. This indicates that GQEFX experiences smaller price fluctuations and is considered to be less risky than GOFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GQEFX	GOFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.78%	3.96%	-1.18%
Volatility (6M) Calculated over the trailing 6-month period	9.48%	14.05%	-4.57%
Volatility (1Y) Calculated over the trailing 1-year period	12.22%	20.06%	-7.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.87%	25.18%	-9.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.76%	25.33%	-7.57%

GQEFX vs. GOFIX - Expense Ratio Comparison

GQEFX has a 0.47% expense ratio, which is lower than GOFIX's 0.72% expense ratio.

Dividends

GQEFX vs. GOFIX - Dividend Comparison

GQEFX's dividend yield for the trailing twelve months is around 10.54%, more than GOFIX's 3.22% 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%
GQEFX GMO Quality Fund Class IV	10.54%	11.15%	3.70%	3.43%	11.84%	10.23%	13.62%	8.09%	21.69%	7.08%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GQEFX and GOFIX in my portfolio?

GQEFX and GOFIX have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GQEFX or GOFIX?

GOFIX has higher volatility (3.96%) compared to GQEFX (2.78%). In terms of maximum drawdown, GQEFX dropped -30.42% vs GOFIX's -51.77%.

Which has better risk-adjusted returns?

GOFIX currently has the higher Sharpe Ratio (4.03 vs 1.89), 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.