GQETX vs. GUSTX

Last updated Apr 2, 2026

Compare and contrast key facts about GMO Quality Fund (GQETX) and GMO U.S. Treasury Fund (GUSTX).

GQETX is managed by GMO. It was launched on Feb 6, 2004. GUSTX is managed by GMO. It was launched on Mar 16, 2009.

Performance

GQETX vs. GUSTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GMO Quality Fund (GQETX) and GMO U.S. Treasury Fund (GUSTX). The values are adjusted to include any dividend payments, if applicable.

GQETX vs. GUSTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GQETX GMO Quality Fund	-7.00%	19.61%	17.76%	28.94%	-15.33%	31.67%	18.33%	31.77%	0.50%	29.11%
GUSTX GMO U.S. Treasury Fund	0.51%	4.45%	2.21%	2.52%	-0.73%	-0.06%	0.89%	0.14%	-79.59%	0.43%

Returns By Period

In the year-to-date period, GQETX achieves a -7.00% return, which is significantly lower than GUSTX's 0.51% return. Over the past 10 years, GQETX has outperformed GUSTX with an annualized return of 14.85%, while GUSTX has yielded a comparatively lower -13.82% annualized return.

GQETX

• 1D: 2.81%
• 1M: -6.44%
• YTD: -7.00%
• 6M: -2.28%
• 1Y: 12.44%
• 3Y*: 15.83%
• 5Y*: 11.72%
• 10Y*: 14.85%

GUSTX

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.51%
• 6M: 1.51%
• 1Y: 3.69%
• 3Y*: 3.15%
• 5Y*: 1.76%
• 10Y*: -13.82%

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

GQETX vs. GUSTX - Expense Ratio Comparison

GQETX has a 0.49% expense ratio, which is higher than GUSTX's 0.01% expense ratio.

GQETX

GMO Quality Fund

GUSTX

GMO U.S. Treasury Fund

Return for Risk

GQETX vs. GUSTX — Risk / Return Rank

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

GQETX

GQETX Risk / Return Rank: 33
GQETX Sharpe Ratio Rank: 30
GQETX Sortino Ratio Rank: 33
GQETX Omega Ratio Rank: 29
GQETX Calmar Ratio Rank: 35
GQETX Martin Ratio Rank: 36

GUSTX

GUSTX Risk / Return Rank: 99
GUSTX Sharpe Ratio Rank: 98
GUSTX Sortino Ratio Rank: 100
GUSTX Omega Ratio Rank: 100
GUSTX Calmar Ratio Rank: 100
GUSTX Martin Ratio Rank: 100

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.

GQETX vs. GUSTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GMO Quality Fund (GQETX) and GMO U.S. Treasury Fund (GUSTX). 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.

	GQETX	GUSTX	Difference
Sharpe ratio Return per unit of total volatility	0.75	3.18	-2.43
Sortino ratio Return per unit of downside risk	1.20	10.74	-9.55
Omega ratio Gain probability vs. loss probability	1.16	7.08	-5.92
Calmar ratio Return relative to maximum drawdown	1.01	20.50	-19.49
Martin ratio Return relative to average drawdown	4.04	58.55	-54.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GQETX vs. GUSTX - Sharpe Ratio Comparison

The current GQETX Sharpe Ratio is 0.75, which is lower than the GUSTX Sharpe Ratio of 3.18. The chart below compares the historical Sharpe Ratios of GQETX and GUSTX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	GQETX	GUSTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.75	3.18	-2.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.74	1.03	-0.29
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.87	-0.55	+1.42
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	-0.44	+1.12

Correlation

The correlation between GQETX and GUSTX is -0.02. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

GQETX vs. GUSTX - Dividend Comparison

GQETX's dividend yield for the trailing twelve months is around 12.00%, more than GUSTX's 3.62% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GQETX GMO Quality Fund	12.00%	11.16%	3.91%	3.43%	11.85%	10.19%	13.61%	8.08%	21.66%	8.10%	3.56%	17.25%
GUSTX GMO U.S. Treasury Fund	3.62%	4.15%	1.98%	2.28%	0.26%	0.14%	0.09%	0.14%	8.96%	0.50%	0.05%	0.04%

Drawdowns

GQETX vs. GUSTX - Drawdown Comparison

The maximum GQETX drawdown since its inception was -39.99%, smaller than the maximum GUSTX drawdown of -79.98%. Use the drawdown chart below to compare losses from any high point for GQETX and GUSTX.

Drawdown Indicators

	GQETX	GUSTX	Difference
Max Drawdown Largest peak-to-trough decline	-39.99%	-79.98%	+39.99%
Max Drawdown (1Y) Largest decline over 1 year	-12.76%	-0.20%	-12.56%
Max Drawdown (5Y) Largest decline over 5 years	-24.22%	-1.19%	-23.03%
Max Drawdown (10Y) Largest decline over 10 years	-30.44%	-79.98%	+49.54%
Current Drawdown Current decline from peak	-10.31%	-77.89%	+67.58%
Average Drawdown Average peak-to-trough decline	-5.02%	-35.61%	+30.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.18%	0.07%	+3.11%

Volatility

GQETX vs. GUSTX - Volatility Comparison

GMO Quality Fund (GQETX) has a higher volatility of 5.64% compared to GMO U.S. Treasury Fund (GUSTX) at 0.29%. This indicates that GQETX's price experiences larger fluctuations and is considered to be riskier than GUSTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GQETX	GUSTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.64%	0.29%	+5.35%
Volatility (6M) Calculated over the trailing 6-month period	9.71%	0.83%	+8.88%
Volatility (1Y) Calculated over the trailing 1-year period	16.62%	1.27%	+15.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.85%	1.73%	+14.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.03%	25.44%	-8.41%