TRBUX vs. GQETX
TRBUX (T. Rowe Price Ultra Short-Term Bond Fund) and GQETX (GMO Quality Fund) are both mutual funds - TRBUX is a Ultrashort Bond fund managed by T. Rowe Price, while GQETX is a Large Cap Blend Equities fund managed by GMO. Over the past 10 years, TRBUX returned 3.29%/yr vs 16.29%/yr for GQETX. At a 0.00 correlation, their price movements are largely independent. TRBUX charges 0.31%/yr vs 0.49%/yr for GQETX.
Performance
TRBUX vs. GQETX - Performance Comparison
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Returns By Period
In the year-to-date period, TRBUX achieves a 1.39% return, which is significantly lower than GQETX's 3.91% return. Over the past 10 years, TRBUX has underperformed GQETX with an annualized return of 3.29%, while GQETX has yielded a comparatively higher 16.29% annualized return.
TRBUX
- 1D
- 0.00%
- 1M
- 0.36%
- YTD
- 1.39%
- 6M
- 2.18%
- 1Y
- 6.22%
- 3Y*
- 6.68%
- 5Y*
- 4.28%
- 10Y*
- 3.29%
GQETX
- 1D
- -0.60%
- 1M
- -0.76%
- YTD
- 3.91%
- 6M
- 3.62%
- 1Y
- 19.59%
- 3Y*
- 16.49%
- 5Y*
- 12.92%
- 10Y*
- 16.29%
TRBUX vs. GQETX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TRBUX T. Rowe Price Ultra Short-Term Bond Fund | 1.39% | 6.88% | 7.88% | 6.99% | -1.28% | 0.22% | 3.11% | 3.60% | 1.88% | 1.83% |
GQETX GMO Quality Fund | 3.91% | 19.61% | 17.76% | 28.94% | -15.33% | 31.67% | 18.33% | 31.77% | 0.50% | 29.11% |
Correlation
The correlation between TRBUX and GQETX is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2013 | 0.00 |
The correlation between TRBUX and GQETX shifts across timeframes, from 0.00 (all time) to 0.16 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TRBUX vs. GQETX — Risk / Return Rank
TRBUX
GQETX
TRBUX vs. GQETX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Ultra Short-Term Bond Fund (TRBUX) and GMO Quality Fund (GQETX). 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.
| TRBUX | GQETX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.05 | ||
| Sortino ratioReturn per unit of downside risk | +6.70 | ||
| Omega ratioGain probability vs. loss probability | 3.56 | 1.28 | +2.28 |
| Calmar ratioReturn relative to maximum drawdown | 16.38 | 1.63 | +14.75 |
| Martin ratioReturn relative to average drawdown | 61.02 | 6.42 | +54.59 |
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Drawdowns
TRBUX vs. GQETX - Drawdown Comparison
The maximum TRBUX drawdown since its inception was -4.15%, smaller than the maximum GQETX drawdown of -39.99%. Use the drawdown chart below to compare losses from any high point for TRBUX and GQETX.
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Drawdown Indicators
| TRBUX | GQETX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.15% | -39.99% | +35.84% |
Max Drawdown (1Y)Largest decline over 1 year | -0.39% | -12.76% | +12.37% |
Max Drawdown (3Y)Largest decline over 3 years | -0.78% | -15.54% | +14.76% |
Max Drawdown (5Y)Largest decline over 5 years | -2.68% | -24.22% | +21.54% |
Max Drawdown (10Y)Largest decline over 10 years | -4.15% | -30.44% | +26.29% |
Current DrawdownCurrent decline from peak | -0.20% | -2.05% | +1.85% |
Average DrawdownAverage peak-to-trough decline | -0.21% | -4.99% | +4.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.10% | 3.23% | -3.13% |
Volatility
TRBUX vs. GQETX - Volatility Comparison
The current volatility for T. Rowe Price Ultra Short-Term Bond Fund (TRBUX) is 0.58%, while GMO Quality Fund (GQETX) has a volatility of 4.18%. This indicates that TRBUX experiences smaller price fluctuations and is considered to be less risky than GQETX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TRBUX | GQETX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.58% | 4.18% | -3.60% |
Volatility (6M)Calculated over the trailing 6-month period | 1.19% | 10.08% | -8.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.75% | 12.68% | -10.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.69% | 15.93% | -14.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.51% | 17.10% | -15.59% |
TRBUX vs. GQETX - Expense Ratio Comparison
TRBUX has a 0.31% expense ratio, which is lower than GQETX's 0.49% expense ratio.
Dividends
TRBUX vs. GQETX - Dividend Comparison
TRBUX's dividend yield for the trailing twelve months is around 6.04%, less than GQETX's 10.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GQETX GMO Quality Fund | 10.74% | 11.16% | 3.91% | 3.43% | 11.85% | 10.19% | 13.61% | 8.08% | 21.66% | 8.10% | 3.56% | 17.25% |
TRBUX T. Rowe Price Ultra Short-Term Bond Fund | 6.04% | 6.23% | 6.36% | 4.48% | 1.53% | 1.21% | 1.86% | 2.73% | 2.47% | 1.62% | 1.18% | 0.81% |
Frequently Asked Questions
TRBUX and GQETX have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GQETX has higher volatility (4.18%) compared to TRBUX (0.58%). In terms of maximum drawdown, TRBUX dropped -4.15% vs GQETX's -39.99%.
TRBUX currently has the higher Sharpe Ratio (3.69 vs 1.64), 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.
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