PFFFX vs. GWOAX

Last updated Jun 4, 2026

PFFFX (PFG Equity Index Focused Strategy Fund) and GWOAX (GMO Global Developed Equity Allocation Fund) are both Global Equities funds. Over the past 5 years, PFFFX returned 11.74%/yr vs 10.98%/yr for GWOAX. Their correlation of 0.91 suggests significant overlap in exposure. PFFFX charges 2.02%/yr vs 0.01%/yr for GWOAX.

Performance

PFFFX vs. GWOAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PFG Equity Index Focused Strategy Fund (PFFFX) 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, PFFFX achieves a 12.50% return, which is significantly lower than GWOAX's 16.38% return.

PFFFX

• 1D: 0.39%
• 1M: 5.63%
• YTD: 12.50%
• 6M: 13.10%
• 1Y: 28.47%
• 3Y*: 22.57%
• 5Y*: 11.74%
• 10Y*: —

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)

PFFFX vs. GWOAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
PFFFX PFG Equity Index Focused Strategy Fund	12.50%	19.55%	25.16%	19.36%	-18.75%	18.54%	31.91%
GWOAX GMO Global Developed Equity Allocation Fund	16.38%	28.37%	6.14%	22.49%	-14.10%	18.53%	35.49%

Correlation

The correlation between PFFFX and GWOAX is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (All Time) Calculated using the full available price history since May 4, 2020	0.91

The correlation between PFFFX and GWOAX has been stable across timeframes, ranging from 0.91 to 0.92 - a consistent structural relationship.

Return for Risk

PFFFX vs. GWOAX — Risk / Return Rank

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

PFFFX

PFFFX Risk / Return Rank: 64
PFFFX Sharpe Ratio Rank: 64
PFFFX Sortino Ratio Rank: 60
PFFFX Omega Ratio Rank: 58
PFFFX Calmar Ratio Rank: 64
PFFFX Martin Ratio Rank: 72

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.

PFFFX vs. GWOAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PFG Equity Index Focused Strategy Fund (PFFFX) 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.

	PFFFX	GWOAX	Difference
Sharpe ratio: Return per unit of total volatility	2.36	3.07	-0.71
Sortino ratio: Return per unit of downside risk	3.25	4.23	-0.97
Omega ratio: Gain probability vs. loss probability	1.43	1.56	-0.13
Calmar ratio: Return relative to maximum drawdown	3.07	4.33	-1.26
Martin ratio: Return relative to average drawdown	13.79	17.30	-3.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PFFFX vs. GWOAX - Sharpe Ratio Comparison

The current PFFFX Sharpe Ratio is 2.36, which is comparable to the GWOAX Sharpe Ratio of 3.07. The chart below compares the historical Sharpe Ratios of PFFFX 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

	PFFFX	GWOAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.36	3.07	-0.71
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	0.72	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.74	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.01	0.47	+0.54

Drawdowns

PFFFX vs. GWOAX - Drawdown Comparison

The maximum PFFFX drawdown since its inception was -29.61%, smaller than the maximum GWOAX drawdown of -49.84%. Use the drawdown chart below to compare losses from any high point for PFFFX and GWOAX.

Drawdown Indicators

	PFFFX	GWOAX	Difference
Max Drawdown Largest peak-to-trough decline	-29.61%	-49.84%	+20.23%
Max Drawdown (1Y) Largest decline over 1 year	-9.50%	-8.78%	-0.72%
Max Drawdown (3Y) Largest decline over 3 years	-17.24%	-16.11%	-1.13%
Max Drawdown (5Y) Largest decline over 5 years	-29.61%	-26.21%	-3.40%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.28%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-6.95%	-9.00%	+2.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.11%	2.19%	-0.08%

Volatility

PFFFX vs. GWOAX - Volatility Comparison

PFG Equity Index Focused Strategy Fund (PFFFX) and GMO Global Developed Equity Allocation Fund (GWOAX) have volatilities of 3.49% and 3.36%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PFFFX	GWOAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.49%	3.36%	+0.13%
Volatility (6M) Calculated over the trailing 6-month period	9.76%	9.48%	+0.28%
Volatility (1Y) Calculated over the trailing 1-year period	12.36%	12.39%	-0.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.57%	15.22%	+1.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.57%	16.50%	+0.07%

PFFFX vs. GWOAX - Expense Ratio Comparison

PFFFX has a 2.02% expense ratio, which is higher than GWOAX's 0.01% expense ratio.

Dividends

PFFFX vs. GWOAX - Dividend Comparison

PFFFX's dividend yield for the trailing twelve months is around 3.12%, less 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%
PFFFX PFG Equity Index Focused Strategy Fund	3.12%	3.51%	16.43%	3.69%	4.32%	5.01%	2.48%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PFFFX and GWOAX in my portfolio?

With a correlation of 0.92, PFFFX and GWOAX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, PFFFX or GWOAX?

PFFFX has higher volatility (3.49%) compared to GWOAX (3.36%). In terms of maximum drawdown, PFFFX dropped -29.61% vs GWOAX's -49.84%.

Which has better risk-adjusted returns?

GWOAX currently has the higher Sharpe Ratio (3.07 vs 2.36), 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.