INVG vs. GMOC

Last updated Jun 24, 2026

INVG (GMO Systematic Investment Grade Credit ETF) and GMOC (GMO Ultra-Short Income ETF) are both exchange-traded funds - INVG is a Corporate Bonds fund actively managed by GMO, while GMOC is a Ultrashort Bond fund actively managed by GMO. Both are actively managed. At a 0.09 correlation, their price movements are largely independent. INVG charges 0.25%/yr vs 0.20%/yr for GMOC.

Performance

INVG vs. GMOC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GMO Systematic Investment Grade Credit ETF (INVG) and GMO Ultra-Short Income ETF (GMOC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, INVG achieves a 0.96% return, which is significantly lower than GMOC's 1.81% return.

INVG

• 1D: 0.16%
• 1M: 0.87%
• YTD: 0.96%
• 6M: 1.01%
• 1Y: 5.23%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GMOC

• 1D: 0.00%
• 1M: 0.33%
• YTD: 1.81%
• 6M: 1.97%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

INVG vs. GMOC - Yearly Performance Comparison

	2026 (YTD)	2025
INVG GMO Systematic Investment Grade Credit ETF	0.96%	-0.82%
GMOC GMO Ultra-Short Income ETF	1.81%	0.70%

Correlation

The correlation between INVG and GMOC is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 28, 2025	0.09

Return for Risk

INVG vs. GMOC — Risk / Return Rank

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

INVG

INVG Risk / Return Rank: 36
INVG Sharpe Ratio Rank: 36
INVG Sortino Ratio Rank: 36
INVG Omega Ratio Rank: 33
INVG Calmar Ratio Rank: 36
INVG Martin Ratio Rank: 37

GMOC

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

INVG vs. GMOC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GMO Systematic Investment Grade Credit ETF (INVG) and GMO Ultra-Short Income ETF (GMOC). 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.

	INVG	GMOC	Difference
Sharpe ratio: Return per unit of total volatility	1.18	—	—
Sortino ratio: Return per unit of downside risk	1.74	—	—
Omega ratio: Gain probability vs. loss probability	1.21	—	—
Calmar ratio: Return relative to maximum drawdown	1.67	—	—
Martin ratio: Return relative to average drawdown	5.31	—	—

Drawdowns

INVG vs. GMOC - Drawdown Comparison

The maximum INVG drawdown since its inception was -3.15%, which is greater than GMOC's maximum drawdown of -0.14%. Use the drawdown chart below to compare losses from any high point for INVG and GMOC.

Drawdown Indicators

	INVG	GMOC	Difference
Max Drawdown Largest peak-to-trough decline	-3.15%	-0.14%	-3.01%
Max Drawdown (1Y) Largest decline over 1 year	-3.15%	—	—
Current Drawdown Current decline from peak	-0.61%	0.00%	-0.61%
Average Drawdown Average peak-to-trough decline	-0.71%	-0.01%	-0.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.99%	—	—

Volatility

Volatility by Period

	INVG	GMOC	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.26%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.41%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	4.45%	0.50%	+3.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.45%	0.50%	+3.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.45%	0.50%	+3.95%

INVG vs. GMOC - Expense Ratio Comparison

INVG has a 0.25% expense ratio, which is higher than GMOC's 0.20% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

INVG vs. GMOC - Dividend Comparison

INVG's dividend yield for the trailing twelve months is around 4.66%, more than GMOC's 2.33% yield.

Position	TTM	2025
GMOC GMO Ultra-Short Income ETF	2.33%	0.84%
INVG GMO Systematic Investment Grade Credit ETF	4.66%	2.81%

Frequently Asked Questions

Can I hold both INVG and GMOC in my portfolio?

INVG and GMOC have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, INVG or GMOC?

On fees, GMOC is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, INVG or GMOC?

GMOC is cheaper with a 0.20% expense ratio, compared with 0.25% for INVG.

Which ETF pays a higher dividend yield, INVG or GMOC?

INVG has the higher dividend yield at 4.66%, compared with 2.33% for GMOC.

What is the main difference between INVG and GMOC?

INVG is categorized as Corporate Bonds, while GMOC is Ultrashort Bond. Their fees differ too: 0.25% for INVG and 0.20% for GMOC.