TXUE vs. GMOI

Last updated Jun 5, 2026

TXUE (Thornburg International Equity ETF) and GMOI (GMO International Value ETF) are both Foreign Large Cap Equities funds. TXUE is actively managed, while GMOI is passively managed. Over the past year, TXUE returned 20.99% vs 37.64% for GMOI. Their correlation of 0.86 suggests significant overlap in exposure. TXUE charges 0.65%/yr vs 0.60%/yr for GMOI.

Performance

TXUE vs. GMOI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Thornburg International Equity ETF (TXUE) and GMO International Value ETF (GMOI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TXUE achieves a 11.09% return, which is significantly lower than GMOI's 13.97% return.

TXUE

• 1D: 0.67%
• 1M: 2.88%
• YTD: 11.09%
• 6M: 12.91%
• 1Y: 20.99%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GMOI

• 1D: 0.82%
• 1M: 2.57%
• YTD: 13.97%
• 6M: 17.28%
• 1Y: 37.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TXUE vs. GMOI - Yearly Performance Comparison

	2026 (YTD)	2025
TXUE Thornburg International Equity ETF	11.09%	25.67%
GMOI GMO International Value ETF	13.97%	41.26%

Correlation

The correlation between TXUE and GMOI is 0.91, 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	0.91
Correlation (All Time) Calculated using the full available price history since Jan 23, 2025	0.86

The correlation between TXUE and GMOI has been stable across timeframes, ranging from 0.86 to 0.91 - a consistent structural relationship.

Return for Risk

TXUE vs. GMOI — Risk / Return Rank

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

TXUE

TXUE Risk / Return Rank: 43
TXUE Sharpe Ratio Rank: 44
TXUE Sortino Ratio Rank: 43
TXUE Omega Ratio Rank: 43
TXUE Calmar Ratio Rank: 39
TXUE Martin Ratio Rank: 44

GMOI

GMOI Risk / Return Rank: 86
GMOI Sharpe Ratio Rank: 87
GMOI Sortino Ratio Rank: 88
GMOI Omega Ratio Rank: 85
GMOI Calmar Ratio Rank: 84
GMOI Martin Ratio Rank: 86

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.

TXUE vs. GMOI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Thornburg International Equity ETF (TXUE) and GMO International Value ETF (GMOI). 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.

	TXUE	GMOI	Difference
Sharpe ratio: Return per unit of total volatility	1.52	2.88	-1.36
Sortino ratio: Return per unit of downside risk	2.13	3.94	-1.81
Omega ratio: Gain probability vs. loss probability	1.27	1.51	-0.24
Calmar ratio: Return relative to maximum drawdown	1.89	4.52	-2.63
Martin ratio: Return relative to average drawdown	7.03	17.89	-10.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TXUE vs. GMOI - Sharpe Ratio Comparison

The current TXUE Sharpe Ratio is 1.52, which is lower than the GMOI Sharpe Ratio of 2.88. The chart below compares the historical Sharpe Ratios of TXUE and GMOI, 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

	TXUE	GMOI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.52	2.88	-1.36
Sharpe Ratio (All Time) Calculated using the full available price history	1.69	2.17	-0.48

Drawdowns

TXUE vs. GMOI - Drawdown Comparison

The maximum TXUE drawdown since its inception was -12.97%, smaller than the maximum GMOI drawdown of -14.67%. Use the drawdown chart below to compare losses from any high point for TXUE and GMOI.

Drawdown Indicators

	TXUE	GMOI	Difference
Max Drawdown Largest peak-to-trough decline	-12.97%	-14.67%	+1.70%
Max Drawdown (1Y) Largest decline over 1 year	-11.14%	-8.36%	-2.78%
Current Drawdown Current decline from peak	-0.51%	-0.18%	-0.33%
Average Drawdown Average peak-to-trough decline	-1.83%	-1.70%	-0.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.99%	2.11%	+0.88%

Volatility

TXUE vs. GMOI - Volatility Comparison

Thornburg International Equity ETF (TXUE) has a higher volatility of 4.32% compared to GMO International Value ETF (GMOI) at 3.88%. This indicates that TXUE's price experiences larger fluctuations and is considered to be riskier than GMOI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TXUE	GMOI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.32%	3.88%	+0.44%
Volatility (6M) Calculated over the trailing 6-month period	11.48%	10.29%	+1.19%
Volatility (1Y) Calculated over the trailing 1-year period	13.91%	13.15%	+0.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.51%	15.58%	+0.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.51%	15.58%	+0.93%

TXUE vs. GMOI - Expense Ratio Comparison

TXUE has a 0.65% expense ratio, which is higher than GMOI's 0.60% expense ratio.

Dividends

TXUE vs. GMOI - Dividend Comparison

TXUE's dividend yield for the trailing twelve months is around 0.97%, less than GMOI's 2.40% yield.

Position	TTM	2025	2024
GMOI GMO International Value ETF	2.40%	2.74%	0.54%
TXUE Thornburg International Equity ETF	0.97%	1.08%	0.00%

Frequently Asked Questions

Can I hold both TXUE and GMOI in my portfolio?

With a correlation of 0.91, TXUE and GMOI 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, TXUE or GMOI?

TXUE has higher volatility (4.32%) compared to GMOI (3.88%). In terms of maximum drawdown, TXUE dropped -12.97% vs GMOI's -14.67%.

Which ETF is better, TXUE or GMOI?

On 1-year performance, GMOI leads with 37.64% vs 20.99% for TXUE. On fees, GMOI is cheaper at 0.60% per year. On volatility, GMOI has been the lower-risk option at 3.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TXUE or GMOI?

Over the 1-year period, GMOI has performed better with a 37.64% return vs 20.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TXUE or GMOI?

GMOI is cheaper with a 0.60% expense ratio, compared with 0.65% for TXUE.

Which ETF pays a higher dividend yield, TXUE or GMOI?

GMOI has the higher dividend yield at 2.40%, compared with 0.97% for TXUE.

What is the main difference between TXUE and GMOI?

They also come from different issuers: Thornburg and GMO. Their fees differ too: 0.65% for TXUE and 0.60% for GMOI.

Which has better risk-adjusted returns?

GMOI currently has the higher Sharpe Ratio (2.88 vs 1.52), 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.