PTSIX vs. GTMIX

Last updated Aug 4, 2026

PTSIX (PIMCO RAE PLUS International Fund) and GTMIX (GMO Tax-Managed International Equities Fund) are both Foreign Large Cap Equities funds. Over the past 10 years, PTSIX returned 10.47%/yr vs 10.90%/yr for GTMIX. Their 0.73 correlation means they have sometimes moved together and sometimes differently. PTSIX charges 0.82%/yr vs 0.68%/yr for GTMIX.

Performance

PTSIX vs. GTMIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO RAE PLUS International Fund (PTSIX) and GMO Tax-Managed International Equities Fund (GTMIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PTSIX achieves a 18.88% return, which is significantly lower than GTMIX's 21.02% return. Both investments have delivered pretty close results over the past 10 years, with PTSIX having a 10.47% annualized return and GTMIX not far ahead at 10.90%.

PTSIX

• 1D: -0.50%
• 1M: 4.86%
• 6M: 10.99%
• YTD: 18.88%
• 1Y: 35.43%
• 3Y*: 19.29%
• 5Y*: 11.09%
• 10Y*: 10.47%
• ALL TIME*: 9.51%

GTMIX

• 1D: -0.84%
• 1M: 6.02%
• 6M: 13.22%
• YTD: 21.02%
• 1Y: 43.83%
• 3Y*: 22.27%
• 5Y*: 13.04%
• 10Y*: 10.90%
• ALL TIME*: 7.38%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GTMIX GMO Tax-Managed International Equities Fund	$0.00	$0.00	$0.00
PTSIX PIMCO RAE PLUS International Fund	$0.00	$0.00	$0.00

PTSIX vs. GTMIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PTSIX PIMCO RAE PLUS International Fund	18.88%	35.74%	2.54%	18.35%	-11.35%	10.70%	0.48%	18.29%	-16.33%	28.37%
GTMIX GMO Tax-Managed International Equities Fund	21.02%	46.17%	1.54%	14.96%	-10.13%	10.71%	7.50%	23.35%	-21.23%	28.45%

Correlation

The correlation between PTSIX and GTMIX is 0.72, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.72
Correlation (3Y) Balances recent behavior with more history.	0.72
Correlation (5Y) Shows whether the relationship held over a longer period.	0.72
Correlation (10Y) Provides a long-term view across more market conditions.	0.71
Correlation (All Time) Calculated using the full available price history since Oct 3, 2011	0.73

The correlation between PTSIX and GTMIX has been stable across timeframes, ranging from 0.71 to 0.73 - a consistent structural relationship.

Return for Risk

PTSIX vs. GTMIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PTSIX

PTSIX Risk / Return Rank: 95
PTSIX Sharpe Ratio Rank: 98
PTSIX Sortino Ratio Rank: 97
PTSIX Omega Ratio Rank: 94
PTSIX Calmar Ratio Rank: 94
PTSIX Martin Ratio Rank: 92

GTMIX

GTMIX Risk / Return Rank: 97
GTMIX Sharpe Ratio Rank: 99
GTMIX Sortino Ratio Rank: 97
GTMIX Omega Ratio Rank: 96
GTMIX Calmar Ratio Rank: 97
GTMIX Martin Ratio Rank: 98

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PTSIX vs. GTMIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO RAE PLUS International Fund (PTSIX) and GMO Tax-Managed International Equities Fund (GTMIX). 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.

	PTSIX	GTMIX	Difference
Sharpe ratio: Return per unit of total volatility	3.10	3.47	-0.38
Sortino ratio: Return per unit of downside risk	4.33	4.74	-0.41
Omega ratio: Gain probability vs. loss probability	1.56	1.62	-0.07
Calmar ratio: Return relative to maximum drawdown	4.05	5.57	-1.52
Martin ratio: Return relative to average drawdown	13.54	22.08	-8.54

PTSIX vs. GTMIX - Sharpe Ratio Comparison

The current PTSIX Sharpe Ratio is 3.10, which is comparable to the GTMIX Sharpe Ratio of 3.47. The chart below compares the historical Sharpe Ratios of PTSIX and GTMIX, 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

PTSIX vs. GTMIX - Drawdown Comparison

The maximum PTSIX drawdown since its inception was -46.94%, smaller than the maximum GTMIX drawdown of -58.31%. Use the drawdown chart below to compare losses from any high point for PTSIX and GTMIX.

Drawdown Indicators

	PTSIX	GTMIX	Difference
Max Drawdown Largest peak-to-trough decline	-46.94%	-58.31%	+11.37%
Max Drawdown (1Y) Largest decline over 1 year	-9.12%	-7.90%	-1.22%
Max Drawdown (3Y) Largest decline over 3 years	-15.62%	-14.11%	-1.51%
Max Drawdown (5Y) Largest decline over 5 years	-29.41%	-27.34%	-2.07%
Max Drawdown (10Y) Largest decline over 10 years	-46.94%	-40.32%	-6.62%
Current Drawdown Current decline from peak	-0.50%	-0.84%	+0.34%
Average Drawdown Average peak-to-trough decline	-9.39%	-12.61%	+3.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.72%	1.99%	+0.73%

Volatility

PTSIX vs. GTMIX - Volatility Comparison

The current volatility for PIMCO RAE PLUS International Fund (PTSIX) is 3.50%, while GMO Tax-Managed International Equities Fund (GTMIX) has a volatility of 3.74%. This indicates that PTSIX experiences smaller price fluctuations and is considered to be less risky than GTMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PTSIX	GTMIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.50%	3.74%	-0.24%
Volatility (6M) Calculated over the trailing 6-month period	9.47%	10.11%	-0.64%
Volatility (1Y) Calculated over the trailing 1-year period	12.00%	12.71%	-0.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.00%	14.89%	+0.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.79%	15.76%	+0.03%

PTSIX vs. GTMIX - Expense Ratio Comparison

PTSIX has a 0.82% expense ratio, which is higher than GTMIX's 0.68% expense ratio.

Dividends

PTSIX vs. GTMIX - Dividend Comparison

PTSIX's dividend yield for the trailing twelve months is around 8.95%, less than GTMIX's 20.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GTMIX GMO Tax-Managed International Equities Fund	20.87%	22.43%	5.94%	0.36%	5.44%	16.55%	2.25%	4.13%	7.25%	2.96%	4.05%	3.26%
PTSIX PIMCO RAE PLUS International Fund	8.95%	3.62%	7.01%	3.18%	67.07%	223.75%	7.45%	3.49%	29.39%	7.86%	0.84%	3.54%

Frequently Asked Questions

Can I hold both PTSIX and GTMIX in my portfolio?

PTSIX and GTMIX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PTSIX or GTMIX?

GTMIX has higher volatility (3.74%) compared to PTSIX (3.50%). In terms of maximum drawdown, PTSIX dropped -46.94% vs GTMIX's -58.31%.

Which has better risk-adjusted returns?

GTMIX currently has the higher Sharpe Ratio (3.47 vs 3.10), 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.