GQETX vs. GMODX
GQETX (GMO Quality Fund) and GMODX (GMO Opportunistic Income Fund) are both mutual funds - GQETX is a Large Cap Blend Equities fund managed by GMO, while GMODX is a Nontraditional Bonds fund managed by GMO. Over the past 10 years, GQETX returned 15.93%/yr vs 4.21%/yr for GMODX. At a correlation of -0.09, they often move in opposite directions. GQETX charges 0.49%/yr vs 0.47%/yr for GMODX.
Performance
GQETX vs. GMODX - Performance Comparison
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Returns By Period
In the year-to-date period, GQETX achieves a 6.90% return, which is significantly higher than GMODX's 1.38% return. Over the past 10 years, GQETX has outperformed GMODX with an annualized return of 15.93%, while GMODX has yielded a comparatively lower 4.21% annualized return.
GQETX
- 1D
- 0.14%
- 1M
- 3.21%
- 6M
- 4.33%
- YTD
- 6.90%
- 1Y
- 19.20%
- 3Y*
- 16.34%
- 5Y*
- 12.95%
- 10Y*
- 15.93%
GMODX
- 1D
- -0.04%
- 1M
- 0.23%
- 6M
- 1.38%
- YTD
- 1.38%
- 1Y
- 4.44%
- 3Y*
- 5.82%
- 5Y*
- 3.82%
- 10Y*
- 4.21%
GQETX vs. GMODX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GQETX GMO Quality Fund | 6.90% | 19.61% | 17.76% | 28.94% | -15.33% | 31.67% | 18.33% | 31.77% | 0.50% | 29.11% |
GMODX GMO Opportunistic Income Fund | 1.38% | 6.47% | 6.11% | 7.07% | -2.09% | 2.83% | 3.34% | 3.83% | 4.01% | 6.41% |
Correlation
The correlation between GQETX and GMODX is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.10 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2012 | -0.09 |
The correlation between GQETX and GMODX shifts across timeframes, from -0.10 (10 years) to 0.18 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GQETX vs. GMODX — Risk / Return Rank
GQETX
GMODX
GQETX vs. GMODX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GMO Quality Fund (GQETX) and GMO Opportunistic Income Fund (GMODX). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| GQETX | GMODX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.82 | ||
| Sortino ratioReturn per unit of downside risk | -3.74 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.72 | -0.46 |
| Calmar ratioReturn relative to maximum drawdown | 1.50 | 6.75 | -5.26 |
| Martin ratioReturn relative to average drawdown | 5.91 | 28.36 | -22.45 |
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Drawdowns
GQETX vs. GMODX - Drawdown Comparison
The maximum GQETX drawdown since its inception was -39.99%, which is greater than GMODX's maximum drawdown of -8.79%. Use the drawdown chart below to compare losses from any high point for GQETX and GMODX.
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Drawdown Indicators
| GQETX | GMODX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.99% | -8.79% | -31.20% |
Max Drawdown (1Y)Largest decline over 1 year | -12.76% | -0.65% | -12.11% |
Max Drawdown (3Y)Largest decline over 3 years | -15.54% | -4.97% | -10.57% |
Max Drawdown (5Y)Largest decline over 5 years | -24.22% | -5.79% | -18.43% |
Max Drawdown (10Y)Largest decline over 10 years | -30.44% | -8.79% | -21.65% |
Current DrawdownCurrent decline from peak | 0.00% | -0.06% | +0.06% |
Average DrawdownAverage peak-to-trough decline | -4.97% | -0.69% | -4.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.23% | 0.16% | +3.07% |
Volatility
GQETX vs. GMODX - Volatility Comparison
GMO Quality Fund (GQETX) has a higher volatility of 3.09% compared to GMO Opportunistic Income Fund (GMODX) at 0.39%. This indicates that GQETX's price experiences larger fluctuations and is considered to be riskier than GMODX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GQETX | GMODX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.09% | 0.39% | +2.70% |
Volatility (6M)Calculated over the trailing 6-month period | 9.98% | 0.98% | +9.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.56% | 1.32% | +11.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.93% | 3.83% | +12.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.04% | 3.04% | +14.00% |
GQETX vs. GMODX - Expense Ratio Comparison
GQETX has a 0.49% expense ratio, which is higher than GMODX's 0.47% expense ratio.
Dividends
GQETX vs. GMODX - Dividend Comparison
GQETX's dividend yield for the trailing twelve months is around 11.20%, more than GMODX's 5.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GMODX GMO Opportunistic Income Fund | 5.01% | 4.99% | 5.28% | 6.17% | 5.44% | 2.10% | 4.15% | 5.69% | 4.35% | 2.66% | 2.55% | 1.71% |
GQETX GMO Quality Fund | 11.20% | 11.16% | 3.91% | 3.43% | 11.85% | 10.19% | 13.61% | 8.08% | 21.66% | 8.10% | 3.56% | 17.25% |
Frequently Asked Questions
GQETX and GMODX have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GQETX has higher volatility (3.09%) compared to GMODX (0.39%). In terms of maximum drawdown, GQETX dropped -39.99% vs GMODX's -8.79%.
GMODX currently has the higher Sharpe Ratio (3.34 vs 1.52), 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.
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