IPOS vs. GMOI

Last updated Jun 4, 2026

IPOS (Renaissance International IPO ETF) and GMOI (GMO International Value ETF) are both Foreign Large Cap Equities funds - IPOS tracks the Renaissance International IPO Index while GMOI tracks the MSCI World ex USA Value. Both are passively managed. Over the past year, IPOS returned 65.50% vs 36.69% for GMOI. At a 0.47 correlation, their price movements are largely independent. IPOS charges 0.80%/yr vs 0.60%/yr for GMOI.

Performance

IPOS vs. GMOI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Renaissance International IPO ETF (IPOS) and GMO International Value ETF (GMOI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IPOS achieves a 40.15% return, which is significantly higher than GMOI's 13.04% return.

IPOS

• 1D: 0.43%
• 1M: 10.58%
• YTD: 40.15%
• 6M: 44.26%
• 1Y: 65.50%
• 3Y*: 15.28%
• 5Y*: -7.69%
• 10Y*: 3.00%

GMOI

• 1D: -0.73%
• 1M: 2.82%
• YTD: 13.04%
• 6M: 17.00%
• 1Y: 36.69%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IPOS vs. GMOI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IPOS Renaissance International IPO ETF	40.15%	39.93%	-1.97%
GMOI GMO International Value ETF	13.04%	45.64%	-4.57%

Correlation

The correlation between IPOS and GMOI is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (All Time) Calculated using the full available price history since Oct 30, 2024	0.47

Return for Risk

IPOS vs. GMOI — Risk / Return Rank

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

IPOS

IPOS Risk / Return Rank: 66
IPOS Sharpe Ratio Rank: 67
IPOS Sortino Ratio Rank: 58
IPOS Omega Ratio Rank: 67
IPOS Calmar Ratio Rank: 76
IPOS Martin Ratio Rank: 63

GMOI

GMOI Risk / Return Rank: 84
GMOI Sharpe Ratio Rank: 85
GMOI Sortino Ratio Rank: 85
GMOI Omega Ratio Rank: 82
GMOI Calmar Ratio Rank: 83
GMOI Martin Ratio Rank: 85

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.

IPOS vs. GMOI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Renaissance International IPO ETF (IPOS) and GMO International Value ETF (GMOI). 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.

	IPOS	GMOI	Difference
Sharpe ratio: Return per unit of total volatility	2.24	2.81	-0.57
Sortino ratio: Return per unit of downside risk	2.76	3.86	-1.09
Omega ratio: Gain probability vs. loss probability	1.41	1.50	-0.09
Calmar ratio: Return relative to maximum drawdown	3.83	4.41	-0.57
Martin ratio: Return relative to average drawdown	11.58	17.44	-5.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IPOS vs. GMOI - Sharpe Ratio Comparison

The current IPOS Sharpe Ratio is 2.24, which is comparable to the GMOI Sharpe Ratio of 2.81. The chart below compares the historical Sharpe Ratios of IPOS and GMOI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IPOS	GMOI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.24	2.81	-0.57
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.28	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.12	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.09	2.13	-2.04

Drawdowns

IPOS vs. GMOI - Drawdown Comparison

The maximum IPOS drawdown since its inception was -73.09%, which is greater than GMOI's maximum drawdown of -14.67%. Use the drawdown chart below to compare losses from any high point for IPOS and GMOI.

Drawdown Indicators

	IPOS	GMOI	Difference
Max Drawdown Largest peak-to-trough decline	-73.09%	-14.67%	-58.42%
Max Drawdown (1Y) Largest decline over 1 year	-17.17%	-8.36%	-8.81%
Max Drawdown (3Y) Largest decline over 3 years	-34.08%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-69.93%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-73.09%	—	—
Current Drawdown Current decline from peak	-40.44%	-0.99%	-39.45%
Average Drawdown Average peak-to-trough decline	-31.99%	-1.70%	-30.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.67%	2.11%	+3.56%

Volatility

IPOS vs. GMOI - Volatility Comparison

Renaissance International IPO ETF (IPOS) has a higher volatility of 12.05% compared to GMO International Value ETF (GMOI) at 3.93%. This indicates that IPOS's price experiences larger fluctuations and is considered to be riskier than GMOI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IPOS	GMOI	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.05%	3.93%	+8.12%
Volatility (6M) Calculated over the trailing 6-month period	26.45%	10.28%	+16.17%
Volatility (1Y) Calculated over the trailing 1-year period	29.41%	13.16%	+16.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.19%	15.59%	+11.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.13%	15.59%	+8.54%

IPOS vs. GMOI - Expense Ratio Comparison

IPOS has a 0.80% expense ratio, which is higher than GMOI's 0.60% expense ratio.

Dividends

IPOS vs. GMOI - Dividend Comparison

IPOS's dividend yield for the trailing twelve months is around 0.68%, less than GMOI's 2.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GMOI GMO International Value ETF	2.42%	2.74%	0.54%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IPOS Renaissance International IPO ETF	0.68%	1.04%	0.93%	0.33%	0.00%	0.00%	0.25%	0.89%	1.12%	0.87%	1.73%	1.08%

Frequently Asked Questions

Can I hold both IPOS and GMOI in my portfolio?

IPOS and GMOI have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IPOS or GMOI?

IPOS has higher volatility (12.05%) compared to GMOI (3.93%). In terms of maximum drawdown, IPOS dropped -73.09% vs GMOI's -14.67%.

Which ETF is better, IPOS or GMOI?

On 1-year performance, IPOS leads with 65.50% vs 36.69% for GMOI. On fees, GMOI is cheaper at 0.60% per year. On volatility, GMOI has been the lower-risk option at 3.93%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IPOS or GMOI?

Over the 1-year period, IPOS has performed better with a 65.50% return vs 36.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IPOS or GMOI?

GMOI is cheaper with a 0.60% expense ratio, compared with 0.80% for IPOS.

Which ETF pays a higher dividend yield, IPOS or GMOI?

GMOI has the higher dividend yield at 2.42%, compared with 0.68% for IPOS.

What is the main difference between IPOS and GMOI?

IPOS tracks Renaissance International IPO Index, while GMOI tracks MSCI World ex USA Value. They also come from different issuers: Renaissance Capital and GMO. Their fees differ too: 0.80% for IPOS and 0.60% for GMOI.

Which has better risk-adjusted returns?

GMOI currently has the higher Sharpe Ratio (2.81 vs 2.24), 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.