WARAX vs. GMWAX
Compare and contrast key facts about Allspring Absolute Return Fund (WARAX) and GMO Global Asset Allocation Fund (GMWAX).
WARAX is managed by Allspring Global Investments. It was launched on Feb 29, 2012. GMWAX is managed by GMO. It was launched on Oct 21, 1996.
Performance
WARAX vs. GMWAX - Performance Comparison
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WARAX vs. GMWAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WARAX Allspring Absolute Return Fund | 14.79% | 8.07% | 5.93% | 12.53% | -2.75% | 2.25% | -3.25% | 11.65% | -5.78% | 12.11% |
GMWAX GMO Global Asset Allocation Fund | 1.62% | 23.40% | 0.23% | 16.17% | -12.71% | 7.03% | 6.15% | 17.70% | -7.21% | 15.73% |
Returns By Period
In the year-to-date period, WARAX achieves a 14.79% return, which is significantly higher than GMWAX's 1.62% return. Over the past 10 years, WARAX has underperformed GMWAX with an annualized return of 5.60%, while GMWAX has yielded a comparatively higher 6.66% annualized return.
WARAX
- 1D
- 0.48%
- 1M
- 1.12%
- YTD
- 14.79%
- 6M
- 17.82%
- 1Y
- 21.60%
- 3Y*
- 13.03%
- 5Y*
- 7.02%
- 10Y*
- 5.60%
GMWAX
- 1D
- 0.10%
- 1M
- -6.59%
- YTD
- 1.62%
- 6M
- 7.26%
- 1Y
- 21.34%
- 3Y*
- 11.75%
- 5Y*
- 5.45%
- 10Y*
- 6.66%
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WARAX vs. GMWAX - Expense Ratio Comparison
WARAX has a 0.70% expense ratio, which is higher than GMWAX's 0.00% expense ratio.
Return for Risk
WARAX vs. GMWAX — Risk / Return Rank
WARAX
GMWAX
WARAX vs. GMWAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Allspring Absolute Return Fund (WARAX) and GMO Global Asset Allocation Fund (GMWAX). 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.
| WARAX | GMWAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.45 | 2.05 | +0.40 |
Sortino ratioReturn per unit of downside risk | 3.28 | 2.77 | +0.51 |
Omega ratioGain probability vs. loss probability | 1.45 | 1.41 | +0.04 |
Calmar ratioReturn relative to maximum drawdown | 4.34 | 2.54 | +1.80 |
Martin ratioReturn relative to average drawdown | 10.20 | 10.61 | -0.41 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| WARAX | GMWAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.45 | 2.05 | +0.40 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.93 | 0.55 | +0.38 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.71 | 0.65 | +0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.59 | 0.29 | +0.30 |
Correlation
The correlation between WARAX and GMWAX is 0.84, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
WARAX vs. GMWAX - Dividend Comparison
WARAX's dividend yield for the trailing twelve months is around 1.74%, less than GMWAX's 4.80% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
WARAX Allspring Absolute Return Fund | 1.74% | 2.00% | 10.90% | 2.80% | 2.34% | 3.23% | 3.34% | 3.38% | 2.66% | 1.77% | 0.76% | 1.35% |
GMWAX GMO Global Asset Allocation Fund | 4.80% | 4.88% | 0.14% | 5.47% | 3.78% | 6.16% | 4.00% | 4.00% | 3.77% | 2.50% | 2.25% | 3.13% |
Drawdowns
WARAX vs. GMWAX - Drawdown Comparison
The maximum WARAX drawdown since its inception was -23.16%, smaller than the maximum GMWAX drawdown of -41.69%. Use the drawdown chart below to compare losses from any high point for WARAX and GMWAX.
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Drawdown Indicators
| WARAX | GMWAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.16% | -41.69% | +18.53% |
Max Drawdown (1Y)Largest decline over 1 year | -5.06% | -8.00% | +2.94% |
Max Drawdown (5Y)Largest decline over 5 years | -14.64% | -22.47% | +7.83% |
Max Drawdown (10Y)Largest decline over 10 years | -23.16% | -25.12% | +1.96% |
Current DrawdownCurrent decline from peak | -0.24% | -6.65% | +6.41% |
Average DrawdownAverage peak-to-trough decline | -3.88% | -11.29% | +7.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.15% | 1.91% | +0.24% |
Volatility
WARAX vs. GMWAX - Volatility Comparison
Allspring Absolute Return Fund (WARAX) and GMO Global Asset Allocation Fund (GMWAX) have volatilities of 3.66% and 3.79%, 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.
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Volatility by Period
| WARAX | GMWAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.66% | 3.79% | -0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 7.21% | 6.51% | +0.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.83% | 10.42% | -1.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.60% | 9.93% | -2.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.91% | 10.28% | -2.37% |