NTIIX vs. GMODX

Last updated Jun 3, 2026

NTIIX (Navigator Tactical Investment Grade Bond Fund) and GMODX (GMO Opportunistic Income Fund) are both Nontraditional Bonds funds. Over the past 3 years, NTIIX returned 3.49%/yr vs 5.86%/yr for GMODX. A 0.53 correlation means they provide meaningful diversification when combined. NTIIX charges 1.01%/yr vs 0.47%/yr for GMODX.

Performance

NTIIX vs. GMODX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Navigator Tactical Investment Grade Bond Fund (NTIIX) and GMO Opportunistic Income Fund (GMODX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NTIIX achieves a -0.99% return, which is significantly lower than GMODX's 1.10% return.

NTIIX

• 1D: 0.00%
• 1M: 0.23%
• YTD: -0.99%
• 6M: -1.06%
• 1Y: 4.18%
• 3Y*: 3.49%
• 5Y*: —
• 10Y*: —

GMODX

• 1D: -0.08%
• 1M: 0.12%
• YTD: 1.10%
• 6M: 1.32%
• 1Y: 4.75%
• 3Y*: 5.86%
• 5Y*: 3.85%
• 10Y*: 4.24%

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

NTIIX vs. GMODX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
NTIIX Navigator Tactical Investment Grade Bond Fund	-0.99%	2.16%	-0.85%	9.79%	-6.51%	-2.29%
GMODX GMO Opportunistic Income Fund	1.10%	6.47%	6.11%	7.07%	-2.09%	0.27%

Correlation

The correlation between NTIIX and GMODX is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.63
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (All Time) Calculated using the full available price history since Sep 1, 2021	0.53

The correlation between NTIIX and GMODX shifts across timeframes, from 0.52 (3 years) to 0.63 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

NTIIX vs. GMODX — Risk / Return Rank

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

NTIIX

NTIIX Risk / Return Rank: 12
NTIIX Sharpe Ratio Rank: 13
NTIIX Sortino Ratio Rank: 13
NTIIX Omega Ratio Rank: 14
NTIIX Calmar Ratio Rank: 12
NTIIX Martin Ratio Rank: 9

GMODX

GMODX Risk / Return Rank: 97
GMODX Sharpe Ratio Rank: 96
GMODX Sortino Ratio Rank: 97
GMODX Omega Ratio Rank: 94
GMODX Calmar Ratio Rank: 97
GMODX Martin Ratio Rank: 98

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.

NTIIX vs. GMODX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Navigator Tactical Investment Grade Bond Fund (NTIIX) and GMO Opportunistic Income Fund (GMODX). 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.

	NTIIX	GMODX	Difference
Sharpe ratio Return per unit of total volatility	0.99	3.47	-2.48
Sortino ratio Return per unit of downside risk	1.45	6.13	-4.68
Omega ratio Gain probability vs. loss probability	1.20	1.75	-0.56
Calmar ratio Return relative to maximum drawdown	1.18	7.33	-6.15
Martin ratio Return relative to average drawdown	2.91	30.81	-27.90
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NTIIX vs. GMODX - Sharpe Ratio Comparison

The current NTIIX Sharpe Ratio is 0.99, which is lower than the GMODX Sharpe Ratio of 3.47. The chart below compares the historical Sharpe Ratios of NTIIX and GMODX, 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

	NTIIX	GMODX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.99	3.47	-2.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.01	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.40	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.02	1.38	-1.36

Drawdowns

NTIIX vs. GMODX - Drawdown Comparison

The maximum NTIIX drawdown since its inception was -12.35%, which is greater than GMODX's maximum drawdown of -8.79%. Use the drawdown chart below to compare losses from any high point for NTIIX and GMODX.

Drawdown Indicators

	NTIIX	GMODX	Difference
Max Drawdown Largest peak-to-trough decline	-12.35%	-8.79%	-3.56%
Max Drawdown (1Y) Largest decline over 1 year	-3.35%	-0.65%	-2.70%
Max Drawdown (3Y) Largest decline over 3 years	-8.52%	-4.97%	-3.55%
Max Drawdown (5Y) Largest decline over 5 years	—	-5.79%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-8.79%	—
Current Drawdown Current decline from peak	-3.59%	-0.08%	-3.51%
Average Drawdown Average peak-to-trough decline	-5.16%	-0.70%	-4.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.35%	0.16%	+1.19%

Volatility

NTIIX vs. GMODX - Volatility Comparison

The current volatility for Navigator Tactical Investment Grade Bond Fund (NTIIX) is 0.16%, while GMO Opportunistic Income Fund (GMODX) has a volatility of 0.46%. This indicates that NTIIX experiences smaller price fluctuations and is considered to be less risky than GMODX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NTIIX	GMODX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.16%	0.46%	-0.30%
Volatility (6M) Calculated over the trailing 6-month period	2.55%	0.92%	+1.63%
Volatility (1Y) Calculated over the trailing 1-year period	4.02%	1.35%	+2.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.99%	3.82%	+1.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.99%	3.04%	+1.95%

NTIIX vs. GMODX - Expense Ratio Comparison

NTIIX has a 1.01% expense ratio, which is higher than GMODX's 0.47% expense ratio.

Dividends

NTIIX vs. GMODX - Dividend Comparison

NTIIX's dividend yield for the trailing twelve months is around 4.28%, less than GMODX's 5.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GMODX GMO Opportunistic Income Fund	5.01%	4.99%	5.28%	6.17%	5.44%	2.10%	4.15%	5.69%	4.35%	2.66%	2.55%	1.71%
NTIIX Navigator Tactical Investment Grade Bond Fund	4.28%	4.07%	4.24%	3.85%	1.63%	0.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NTIIX and GMODX in my portfolio?

NTIIX and GMODX have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NTIIX or GMODX?

GMODX has higher volatility (0.46%) compared to NTIIX (0.16%). In terms of maximum drawdown, NTIIX dropped -12.35% vs GMODX's -8.79%.

Which has better risk-adjusted returns?

GMODX currently has the higher Sharpe Ratio (3.47 vs 0.99), 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.