NUGIX vs. GWOAX

Last updated Jun 4, 2026

NUGIX (Nuveen Global Dividend Growth Fund) and GWOAX (GMO Global Developed Equity Allocation Fund) are both Global Equities funds. Over the past 10 years, NUGIX returned 9.51%/yr vs 12.17%/yr for GWOAX. Their correlation of 0.92 suggests significant overlap in exposure. NUGIX charges 0.89%/yr vs 0.01%/yr for GWOAX.

Performance

NUGIX vs. GWOAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen Global Dividend Growth Fund (NUGIX) and GMO Global Developed Equity Allocation Fund (GWOAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NUGIX achieves a 5.11% return, which is significantly lower than GWOAX's 16.38% return. Over the past 10 years, NUGIX has underperformed GWOAX with an annualized return of 9.51%, while GWOAX has yielded a comparatively higher 12.17% annualized return.

NUGIX

• 1D: 0.59%
• 1M: 3.86%
• YTD: 5.11%
• 6M: 5.64%
• 1Y: 13.12%
• 3Y*: 13.64%
• 5Y*: 8.62%
• 10Y*: 9.51%

GWOAX

• 1D: 0.59%
• 1M: 5.69%
• YTD: 16.38%
• 6M: 18.34%
• 1Y: 37.95%
• 3Y*: 21.19%
• 5Y*: 10.98%
• 10Y*: 12.17%

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

NUGIX vs. GWOAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NUGIX Nuveen Global Dividend Growth Fund	5.11%	11.76%	15.34%	14.49%	-9.86%	19.98%	4.02%	28.15%	-9.00%	19.91%
GWOAX GMO Global Developed Equity Allocation Fund	16.38%	28.37%	6.14%	22.49%	-14.10%	18.53%	10.53%	26.56%	-12.95%	25.63%

Correlation

The correlation between NUGIX and GWOAX is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Jun 12, 2012	0.92

The correlation between NUGIX and GWOAX has been stable across timeframes, ranging from 0.89 to 0.92 - a consistent structural relationship.

Return for Risk

NUGIX vs. GWOAX — Risk / Return Rank

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

NUGIX

NUGIX Risk / Return Rank: 19
NUGIX Sharpe Ratio Rank: 20
NUGIX Sortino Ratio Rank: 18
NUGIX Omega Ratio Rank: 19
NUGIX Calmar Ratio Rank: 19
NUGIX Martin Ratio Rank: 21

GWOAX

GWOAX Risk / Return Rank: 88
GWOAX Sharpe Ratio Rank: 91
GWOAX Sortino Ratio Rank: 88
GWOAX Omega Ratio Rank: 83
GWOAX Calmar Ratio Rank: 88
GWOAX Martin Ratio Rank: 88

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.

NUGIX vs. GWOAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen Global Dividend Growth Fund (NUGIX) and GMO Global Developed Equity Allocation Fund (GWOAX). 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.

	NUGIX	GWOAX	Difference
Sharpe ratio: Return per unit of total volatility	1.26	3.07	-1.81
Sortino ratio: Return per unit of downside risk	1.79	4.23	-2.44
Omega ratio: Gain probability vs. loss probability	1.22	1.56	-0.33
Calmar ratio: Return relative to maximum drawdown	1.56	4.33	-2.77
Martin ratio: Return relative to average drawdown	5.57	17.30	-11.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NUGIX vs. GWOAX - Sharpe Ratio Comparison

The current NUGIX Sharpe Ratio is 1.26, which is lower than the GWOAX Sharpe Ratio of 3.07. The chart below compares the historical Sharpe Ratios of NUGIX and GWOAX, 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

	NUGIX	GWOAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.26	3.07	-1.81
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.72	-0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.62	0.74	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.66	0.47	+0.19

Drawdowns

NUGIX vs. GWOAX - Drawdown Comparison

The maximum NUGIX drawdown since its inception was -33.65%, smaller than the maximum GWOAX drawdown of -49.84%. Use the drawdown chart below to compare losses from any high point for NUGIX and GWOAX.

Drawdown Indicators

	NUGIX	GWOAX	Difference
Max Drawdown Largest peak-to-trough decline	-33.65%	-49.84%	+16.19%
Max Drawdown (1Y) Largest decline over 1 year	-8.59%	-8.78%	+0.19%
Max Drawdown (3Y) Largest decline over 3 years	-15.32%	-16.11%	+0.79%
Max Drawdown (5Y) Largest decline over 5 years	-21.20%	-26.21%	+5.01%
Max Drawdown (10Y) Largest decline over 10 years	-33.65%	-35.28%	+1.63%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-3.56%	-9.00%	+5.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.40%	2.19%	+0.21%

Volatility

NUGIX vs. GWOAX - Volatility Comparison

The current volatility for Nuveen Global Dividend Growth Fund (NUGIX) is 2.66%, while GMO Global Developed Equity Allocation Fund (GWOAX) has a volatility of 3.36%. This indicates that NUGIX experiences smaller price fluctuations and is considered to be less risky than GWOAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NUGIX	GWOAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.66%	3.36%	-0.70%
Volatility (6M) Calculated over the trailing 6-month period	8.14%	9.48%	-1.34%
Volatility (1Y) Calculated over the trailing 1-year period	10.70%	12.39%	-1.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.78%	15.22%	-1.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.49%	16.50%	-1.01%

NUGIX vs. GWOAX - Expense Ratio Comparison

NUGIX has a 0.89% expense ratio, which is higher than GWOAX's 0.01% expense ratio.

Dividends

NUGIX vs. GWOAX - Dividend Comparison

NUGIX's dividend yield for the trailing twelve months is around 11.14%, more than GWOAX's 3.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GWOAX GMO Global Developed Equity Allocation Fund	3.83%	4.46%	0.60%	6.10%	7.27%	12.75%	3.85%	4.33%	3.02%	3.05%	6.43%	12.47%
NUGIX Nuveen Global Dividend Growth Fund	11.14%	11.74%	7.84%	1.53%	4.27%	7.70%	1.86%	3.76%	4.98%	15.70%	2.02%	1.95%

Frequently Asked Questions

Can I hold both NUGIX and GWOAX in my portfolio?

NUGIX and GWOAX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NUGIX or GWOAX?

GWOAX has higher volatility (3.36%) compared to NUGIX (2.66%). In terms of maximum drawdown, NUGIX dropped -33.65% vs GWOAX's -49.84%.

Which has better risk-adjusted returns?

GWOAX currently has the higher Sharpe Ratio (3.07 vs 1.26), 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.