PGGAX vs. GCCHX

Last updated Jun 5, 2026

PGGAX (American Funds Global Growth Portfolio Class A) and GCCHX (GMO Climate Change Fund) are both Global Equities funds. Over the past 5 years, PGGAX returned 8.88%/yr vs 3.71%/yr for GCCHX. A 0.76 correlation means they provide meaningful diversification when combined. PGGAX charges 0.78%/yr vs 0.77%/yr for GCCHX.

Performance

PGGAX vs. GCCHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Funds Global Growth Portfolio Class A (PGGAX) and GMO Climate Change Fund (GCCHX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PGGAX achieves a 12.39% return, which is significantly lower than GCCHX's 27.68% return.

PGGAX

• 1D: -0.64%
• 1M: 4.78%
• YTD: 12.39%
• 6M: 13.34%
• 1Y: 28.98%
• 3Y*: 20.60%
• 5Y*: 8.88%
• 10Y*: 12.47%

GCCHX

• 1D: -0.90%
• 1M: 4.26%
• YTD: 27.68%
• 6M: 28.65%
• 1Y: 80.76%
• 3Y*: 5.87%
• 5Y*: 3.71%
• 10Y*: —

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

PGGAX vs. GCCHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PGGAX American Funds Global Growth Portfolio Class A	12.39%	23.05%	14.85%	24.09%	-25.77%	12.98%	27.38%	27.93%	-8.97%	18.04%
GCCHX GMO Climate Change Fund	27.68%	39.25%	-25.63%	-6.85%	-10.39%	21.84%	42.82%	27.36%	-16.35%	26.15%

Correlation

The correlation between PGGAX and GCCHX is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (All Time) Calculated using the full available price history since Apr 19, 2017	0.76

The correlation between PGGAX and GCCHX has been stable across timeframes, ranging from 0.70 to 0.76 - a consistent structural relationship.

Return for Risk

PGGAX vs. GCCHX — Risk / Return Rank

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

PGGAX

PGGAX Risk / Return Rank: 53
PGGAX Sharpe Ratio Rank: 53
PGGAX Sortino Ratio Rank: 50
PGGAX Omega Ratio Rank: 51
PGGAX Calmar Ratio Rank: 50
PGGAX Martin Ratio Rank: 61

GCCHX

GCCHX Risk / Return Rank: 91
GCCHX Sharpe Ratio Rank: 96
GCCHX Sortino Ratio Rank: 86
GCCHX Omega Ratio Rank: 81
GCCHX Calmar Ratio Rank: 97
GCCHX Martin Ratio Rank: 95

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.

PGGAX vs. GCCHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Funds Global Growth Portfolio Class A (PGGAX) and GMO Climate Change Fund (GCCHX). 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.

	PGGAX	GCCHX	Difference
Sharpe ratio: Return per unit of total volatility	2.09	3.47	-1.38
Sortino ratio: Return per unit of downside risk	2.91	4.16	-1.25
Omega ratio: Gain probability vs. loss probability	1.38	1.54	-0.16
Calmar ratio: Return relative to maximum drawdown	2.64	6.93	-4.29
Martin ratio: Return relative to average drawdown	11.71	22.54	-10.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PGGAX vs. GCCHX - Sharpe Ratio Comparison

The current PGGAX Sharpe Ratio is 2.09, which is lower than the GCCHX Sharpe Ratio of 3.47. The chart below compares the historical Sharpe Ratios of PGGAX and GCCHX, 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

	PGGAX	GCCHX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.09	3.47	-1.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	0.14	+0.39
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.72	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.75	0.44	+0.31

Drawdowns

PGGAX vs. GCCHX - Drawdown Comparison

The maximum PGGAX drawdown since its inception was -34.41%, smaller than the maximum GCCHX drawdown of -54.32%. Use the drawdown chart below to compare losses from any high point for PGGAX and GCCHX.

Drawdown Indicators

	PGGAX	GCCHX	Difference
Max Drawdown Largest peak-to-trough decline	-34.41%	-54.32%	+19.91%
Max Drawdown (1Y) Largest decline over 1 year	-11.30%	-11.76%	+0.46%
Max Drawdown (3Y) Largest decline over 3 years	-17.99%	-52.03%	+34.04%
Max Drawdown (5Y) Largest decline over 5 years	-34.41%	-54.32%	+19.91%
Max Drawdown (10Y) Largest decline over 10 years	-34.41%	—	—
Current Drawdown Current decline from peak	-0.64%	-0.90%	+0.26%
Average Drawdown Average peak-to-trough decline	-5.91%	-13.91%	+8.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.54%	3.61%	-1.07%

Volatility

PGGAX vs. GCCHX - Volatility Comparison

The current volatility for American Funds Global Growth Portfolio Class A (PGGAX) is 4.52%, while GMO Climate Change Fund (GCCHX) has a volatility of 6.54%. This indicates that PGGAX experiences smaller price fluctuations and is considered to be less risky than GCCHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PGGAX	GCCHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.52%	6.54%	-2.02%
Volatility (6M) Calculated over the trailing 6-month period	11.57%	16.28%	-4.71%
Volatility (1Y) Calculated over the trailing 1-year period	14.28%	23.58%	-9.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.06%	26.96%	-9.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.28%	25.15%	-7.87%

PGGAX vs. GCCHX - Expense Ratio Comparison

PGGAX has a 0.78% expense ratio, which is higher than GCCHX's 0.77% expense ratio.

Dividends

PGGAX vs. GCCHX - Dividend Comparison

PGGAX's dividend yield for the trailing twelve months is around 4.99%, more than GCCHX's 1.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GCCHX GMO Climate Change Fund	1.18%	1.51%	0.66%	0.96%	2.24%	25.43%	5.42%	4.03%	2.62%	3.43%	0.00%	0.00%
PGGAX American Funds Global Growth Portfolio Class A	4.99%	5.61%	4.31%	0.95%	7.97%	3.34%	0.78%	4.90%	5.69%	6.22%	3.70%	3.98%

Frequently Asked Questions

Can I hold both PGGAX and GCCHX in my portfolio?

PGGAX and GCCHX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PGGAX or GCCHX?

GCCHX has higher volatility (6.54%) compared to PGGAX (4.52%). In terms of maximum drawdown, PGGAX dropped -34.41% vs GCCHX's -54.32%.

Which has better risk-adjusted returns?

GCCHX currently has the higher Sharpe Ratio (3.47 vs 2.09), 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.