GUGAX vs. NPCT
GUGAX (GMO Multi-Sector Fixed Income Fund) and NPCT (Nuveen Core Plus Impact Fund) are both Intermediate Core-Plus Bond funds. Over the past 5 years, GUGAX returned -0.58%/yr vs -3.39%/yr for NPCT. At a 0.44 correlation, their price movements are largely independent. GUGAX charges 0.45%/yr vs 5.08%/yr for NPCT.
Performance
GUGAX vs. NPCT - Performance Comparison
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Returns By Period
In the year-to-date period, GUGAX achieves a 0.96% return, which is significantly lower than NPCT's 3.14% return.
GUGAX
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 0.67%
- YTD
- 0.96%
- 1Y
- 4.85%
- 3Y*
- 4.52%
- 5Y*
- -0.58%
- 10Y*
- 1.33%
NPCT
- 1D
- -0.70%
- 1M
- 0.20%
- 6M
- 2.64%
- YTD
- 3.14%
- 1Y
- -0.92%
- 3Y*
- 11.38%
- 5Y*
- -3.39%
- 10Y*
- —
GUGAX vs. NPCT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GUGAX GMO Multi-Sector Fixed Income Fund | 0.96% | 7.29% | 0.96% | 6.02% | -14.52% | -0.01% |
NPCT Nuveen Core Plus Impact Fund | 3.14% | 9.87% | 17.23% | 7.78% | -37.50% | -4.98% |
Correlation
The correlation between GUGAX and NPCT is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Apr 28, 2021 | 0.44 |
Over the past year, the correlation between GUGAX and NPCT has dropped to 0.23 - well below their long-term average of 0.44, suggesting their price drivers have been diverging.
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Return for Risk
GUGAX vs. NPCT — Risk / Return Rank
GUGAX
NPCT
GUGAX vs. NPCT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GMO Multi-Sector Fixed Income Fund (GUGAX) and Nuveen Core Plus Impact Fund (NPCT). 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.
| GUGAX | NPCT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.92 | ||
| Sortino ratioReturn per unit of downside risk | +3.10 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 0.99 | +0.44 |
| Calmar ratioReturn relative to maximum drawdown | 4.88 | -0.14 | +5.02 |
| Martin ratioReturn relative to average drawdown | 13.49 | -0.31 | +13.80 |
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Drawdowns
GUGAX vs. NPCT - Drawdown Comparison
The maximum GUGAX drawdown since its inception was -38.57%, smaller than the maximum NPCT drawdown of -46.77%. Use the drawdown chart below to compare losses from any high point for GUGAX and NPCT.
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Drawdown Indicators
| GUGAX | NPCT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.57% | -46.77% | +8.20% |
Max Drawdown (1Y)Largest decline over 1 year | -1.00% | -6.79% | +5.79% |
Max Drawdown (3Y)Largest decline over 3 years | -6.12% | -12.59% | +6.47% |
Max Drawdown (5Y)Largest decline over 5 years | -20.53% | -46.77% | +26.24% |
Max Drawdown (10Y)Largest decline over 10 years | -23.06% | — | — |
Current DrawdownCurrent decline from peak | -6.72% | -16.26% | +9.54% |
Average DrawdownAverage peak-to-trough decline | -11.26% | -25.03% | +13.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.38% | 3.01% | -2.63% |
Volatility
GUGAX vs. NPCT - Volatility Comparison
The current volatility for GMO Multi-Sector Fixed Income Fund (GUGAX) is 0.00%, while Nuveen Core Plus Impact Fund (NPCT) has a volatility of 2.44%. This indicates that GUGAX experiences smaller price fluctuations and is considered to be less risky than NPCT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GUGAX | NPCT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.00% | 2.44% | -2.44% |
Volatility (6M)Calculated over the trailing 6-month period | 1.18% | 7.48% | -6.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.70% | 9.79% | -7.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.57% | 13.10% | -6.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.42% | 13.00% | -7.58% |
GUGAX vs. NPCT - Expense Ratio Comparison
GUGAX has a 0.45% expense ratio, which is lower than NPCT's 5.08% expense ratio.
Dividends
GUGAX vs. NPCT - Dividend Comparison
GUGAX's dividend yield for the trailing twelve months is around 3.45%, less than NPCT's 12.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GUGAX GMO Multi-Sector Fixed Income Fund | 3.45% | 3.69% | 4.34% | 0.00% | 1.94% | 2.90% | 7.96% | 5.74% | 5.08% | 2.43% | 3.29% | 1.76% |
NPCT Nuveen Core Plus Impact Fund | 12.31% | 13.15% | 12.20% | 10.28% | 11.93% | 3.94% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GUGAX and NPCT have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NPCT has higher volatility (2.44%) compared to GUGAX (0.00%). In terms of maximum drawdown, GUGAX dropped -38.57% vs NPCT's -46.77%.
GUGAX currently has the higher Sharpe Ratio (1.82 vs -0.09), 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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