PGEKX vs. GMGEX

Last updated Jun 26, 2026

PGEKX (Victory Pioneer Global Equity Fund Class R6) and GMGEX (GMO Global Equity Allocation Fund) are both Global Equities funds. Over the past 10 years, PGEKX returned 14.70%/yr vs 11.46%/yr for GMGEX. Their correlation of 0.92 suggests significant overlap in exposure. PGEKX charges 0.73%/yr vs 0.01%/yr for GMGEX.

Performance

PGEKX vs. GMGEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Victory Pioneer Global Equity Fund Class R6 (PGEKX) and GMO Global Equity Allocation Fund (GMGEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PGEKX achieves a 12.74% return, which is significantly lower than GMGEX's 16.28% return. Over the past 10 years, PGEKX has outperformed GMGEX with an annualized return of 14.70%, while GMGEX has yielded a comparatively lower 11.46% annualized return.

PGEKX

• 1D: -0.04%
• 1M: -1.92%
• YTD: 12.74%
• 6M: 12.11%
• 1Y: 33.67%
• 3Y*: 24.82%
• 5Y*: 14.82%
• 10Y*: 14.70%

GMGEX

• 1D: -0.05%
• 1M: -1.66%
• YTD: 16.28%
• 6M: 15.49%
• 1Y: 35.95%
• 3Y*: 20.30%
• 5Y*: 9.62%
• 10Y*: 11.46%

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

PGEKX vs. GMGEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PGEKX Victory Pioneer Global Equity Fund Class R6	12.74%	41.73%	11.88%	17.16%	-9.41%	23.83%	18.36%	23.81%	-15.89%	22.43%
GMGEX GMO Global Equity Allocation Fund	16.28%	29.14%	4.12%	22.27%	-17.07%	14.99%	9.55%	25.45%	-13.04%	26.39%

Correlation

The correlation between PGEKX and GMGEX 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	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jan 2, 2015	0.92

The correlation between PGEKX and GMGEX has been stable across timeframes, ranging from 0.89 to 0.93 - a consistent structural relationship.

Return for Risk

PGEKX vs. GMGEX — Risk / Return Rank

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

PGEKX

PGEKX Risk / Return Rank: 83
PGEKX Sharpe Ratio Rank: 86
PGEKX Sortino Ratio Rank: 81
PGEKX Omega Ratio Rank: 80
PGEKX Calmar Ratio Rank: 84
PGEKX Martin Ratio Rank: 85

GMGEX

GMGEX Risk / Return Rank: 88
GMGEX Sharpe Ratio Rank: 92
GMGEX Sortino Ratio Rank: 87
GMGEX Omega Ratio Rank: 85
GMGEX Calmar Ratio Rank: 89
GMGEX Martin Ratio Rank: 90

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.

PGEKX vs. GMGEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Victory Pioneer Global Equity Fund Class R6 (PGEKX) and GMO Global Equity Allocation Fund (GMGEX). 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.

	PGEKX	GMGEX	Difference
Sharpe ratio: Return per unit of total volatility	2.41	2.68	-0.27
Sortino ratio: Return per unit of downside risk	3.20	3.64	-0.44
Omega ratio: Gain probability vs. loss probability	1.43	1.49	-0.06
Calmar ratio: Return relative to maximum drawdown	3.38	3.86	-0.48
Martin ratio: Return relative to average drawdown	13.26	15.01	-1.74

PGEKX vs. GMGEX - Sharpe Ratio Comparison

The current PGEKX Sharpe Ratio is 2.41, which is comparable to the GMGEX Sharpe Ratio of 2.68. The chart below compares the historical Sharpe Ratios of PGEKX and GMGEX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PGEKX vs. GMGEX - Drawdown Comparison

The maximum PGEKX drawdown since its inception was -33.42%, smaller than the maximum GMGEX drawdown of -58.47%. Use the drawdown chart below to compare losses from any high point for PGEKX and GMGEX.

Drawdown Indicators

	PGEKX	GMGEX	Difference
Max Drawdown Largest peak-to-trough decline	-33.42%	-58.47%	+25.05%
Max Drawdown (1Y) Largest decline over 1 year	-9.97%	-9.24%	-0.73%
Max Drawdown (3Y) Largest decline over 3 years	-14.62%	-17.12%	+2.50%
Max Drawdown (5Y) Largest decline over 5 years	-23.53%	-28.58%	+5.05%
Max Drawdown (10Y) Largest decline over 10 years	-33.42%	-34.98%	+1.56%
Current Drawdown Current decline from peak	-3.06%	-2.98%	-0.08%
Average Drawdown Average peak-to-trough decline	-5.92%	-16.72%	+10.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.54%	2.37%	+0.17%

Volatility

PGEKX vs. GMGEX - Volatility Comparison

Victory Pioneer Global Equity Fund Class R6 (PGEKX) and GMO Global Equity Allocation Fund (GMGEX) have volatilities of 5.38% and 5.16%, 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

	PGEKX	GMGEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.38%	5.16%	+0.22%
Volatility (6M) Calculated over the trailing 6-month period	11.28%	10.86%	+0.42%
Volatility (1Y) Calculated over the trailing 1-year period	14.04%	13.37%	+0.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.69%	14.91%	+0.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.80%	16.00%	+0.80%

PGEKX vs. GMGEX - Expense Ratio Comparison

PGEKX has a 0.73% expense ratio, which is higher than GMGEX's 0.01% expense ratio.

Dividends

PGEKX vs. GMGEX - Dividend Comparison

PGEKX's dividend yield for the trailing twelve months is around 10.47%, more than GMGEX's 4.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GMGEX GMO Global Equity Allocation Fund	4.03%	4.69%	0.29%	5.62%	7.81%	7.76%	3.83%	3.14%	3.14%	2.90%	3.71%	4.20%
PGEKX Victory Pioneer Global Equity Fund Class R6	10.47%	11.80%	8.09%	1.91%	6.18%	21.47%	1.26%	1.37%	11.04%	1.83%	1.76%	1.10%

Frequently Asked Questions

Can I hold both PGEKX and GMGEX in my portfolio?

PGEKX and GMGEX 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, PGEKX or GMGEX?

PGEKX has higher volatility (5.38%) compared to GMGEX (5.16%). In terms of maximum drawdown, PGEKX dropped -33.42% vs GMGEX's -58.47%.

Which has better risk-adjusted returns?

GMGEX currently has the higher Sharpe Ratio (2.68 vs 2.41), 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.