INVG vs. GMOD

Last updated Aug 5, 2026

INVG (GMO Systematic Investment Grade Credit ETF) and GMOD (GMO Dynamic Allocation ETF) are both exchange-traded funds - INVG is a Corporate Bonds fund actively managed by GMO, while GMOD is a Tactical Allocation fund actively managed by GMO. Both are actively managed. Their 0.62 correlation means they have sometimes moved together and sometimes differently. INVG charges 0.25%/yr vs 0.50%/yr for GMOD.

Performance

INVG vs. GMOD - Performance Comparison

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

Returns By Period

In the year-to-date period, INVG achieves a 0.30% return, which is significantly lower than GMOD's 9.40% return.

INVG

• 1D: 0.53%
• 1M: -0.81%
• 6M: -0.07%
• YTD: 0.30%
• 1Y: 2.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.56%

GMOD

• 1D: 0.81%
• 1M: 1.85%
• 6M: 5.53%
• YTD: 9.40%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GMOD GMO Dynamic Allocation ETF	$228.90K	$297.70K	$290.17K
INVG GMO Systematic Investment Grade Credit ETF	$27.15K	$47.67K	$107.50K

INVG vs. GMOD - Yearly Performance Comparison

	2026 (YTD)	2025
INVG GMO Systematic Investment Grade Credit ETF	0.30%	0.20%
GMOD GMO Dynamic Allocation ETF	9.40%	4.35%

Correlation

The correlation between INVG and GMOD is 0.62, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 14, 2025	0.62

Return for Risk

INVG vs. GMOD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

INVG

INVG Risk / Return Rank: 23
INVG Sharpe Ratio Rank: 23
INVG Sortino Ratio Rank: 22
INVG Omega Ratio Rank: 21
INVG Calmar Ratio Rank: 24
INVG Martin Ratio Rank: 26

GMOD

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

INVG vs. GMOD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GMO Systematic Investment Grade Credit ETF (INVG) and GMO Dynamic Allocation ETF (GMOD). 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	GMOD	Difference
Sharpe ratio: Return per unit of total volatility	0.59	—	—
Sortino ratio: Return per unit of downside risk	0.87	—	—
Omega ratio: Gain probability vs. loss probability	1.10	—	—
Calmar ratio: Return relative to maximum drawdown	0.83	—	—
Martin ratio: Return relative to average drawdown	2.45	—	—

Drawdowns

INVG vs. GMOD - Drawdown Comparison

The maximum INVG drawdown since its inception was -3.15%, smaller than the maximum GMOD drawdown of -6.50%. Use the drawdown chart below to compare losses from any high point for INVG and GMOD.

Drawdown Indicators

	INVG	GMOD	Difference
Max Drawdown Largest peak-to-trough decline	-3.15%	-6.50%	+3.35%
Max Drawdown (1Y) Largest decline over 1 year	-3.15%	—	—
Current Drawdown Current decline from peak	-1.26%	0.00%	-1.26%
Average Drawdown Average peak-to-trough decline	-0.75%	-1.06%	+0.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.07%	—	—

Volatility

Volatility by Period

	INVG	GMOD	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.37%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.56%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	4.41%	8.77%	-4.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.45%	8.77%	-4.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.45%	8.77%	-4.32%

INVG vs. GMOD - Expense Ratio Comparison

INVG has a 0.25% expense ratio, which is lower than GMOD's 0.50% expense ratio.

Dividends

INVG vs. GMOD - Dividend Comparison

INVG's dividend yield for the trailing twelve months is around 4.87%, more than GMOD's 1.34% yield.

Position	TTM	2025
GMOD GMO Dynamic Allocation ETF	1.34%	0.93%
INVG GMO Systematic Investment Grade Credit ETF	4.87%	2.81%

Frequently Asked Questions

Can I hold both INVG and GMOD in my portfolio?

INVG and GMOD have a correlation of 0.62, 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 GMOD?

On fees, INVG is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, INVG or GMOD?

INVG is cheaper with a 0.25% expense ratio, compared with 0.50% for GMOD.

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

INVG has the higher dividend yield at 4.87%, compared with 1.34% for GMOD.

What is the main difference between INVG and GMOD?

INVG is categorized as Corporate Bonds, while GMOD is Tactical Allocation. Their fees differ too: 0.25% for INVG and 0.50% for GMOD.