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Trending ETFs

Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

$25.01

$4.98 B

5.96%

$1.49

1.07%

Vitals

YTD Return

3.6%

1 yr return

-5.8%

3 Yr Avg Return

-2.1%

5 Yr Avg Return

N/A

Net Assets

$4.98 B

Holdings in Top 10

N/A

52 WEEK LOW AND HIGH

$25.0
$23.05
$26.57

Expenses

OPERATING FEES

Expense Ratio 1.07%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 7.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$0

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

$25.01

$4.98 B

5.96%

$1.49

1.07%

GBMIX - Profile

Distributions

  • YTD Total Return 3.6%
  • 3 Yr Annualized Total Return -2.1%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 2.38%
DIVIDENDS
  • Dividend Yield 6.0%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    GMO Benchmark-Free Allocation Fund
  • Fund Family Name
    GMO
  • Inception Date
    Aug 08, 2019
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Ben Inker

Fund Description

The Fund seeks annualized returns of 5% (net of fees) above the Consumer Price Index and annualized volatility (standard deviation) of 5-10%, each over a complete market cycle. GMO does not manage the Fund to, or control the Fund’s risk relative to, any securities index or securities benchmark.
GMO seeks to achieve the Fund’s investment objective by investing the Fund’s assets in asset classes GMO believes offer the most attractive return and risk opportunities. GMO uses its quantitative multi-year forecasts of returns among asset classes, together with its assessment of the relative risks of such asset classes, to determine the asset classes in which the Fund invests and how much the Fund invests in each asset class. An important component of those forecasts is GMO’s expectation that valuations ultimately revert to their fundamental fair (or intrinsic) value. GMO changes the Fund’s holdings of particular asset classes in response to changes in GMO’s investment outlook and its assessment of market valuations and may use redemptions or purchases of Fund shares to rebalance the Fund’s investments. The factors GMO considers and investment methods GMO uses can change over time.
The Fund is structured as a fund of funds and gains its investment exposures primarily by investing in Implementation Fund. In addition, the Fund may invest in any other GMO Fund (together with Implementation Fund, the “underlying GMO Funds”), whether now existing or created in the future. These underlying GMO Funds may include, among others, Opportunistic Income Fund, Emerging Country Debt Fund, High Yield Fund, and the Alternative Funds (see “Additional Information About the Funds’ Investment Strategies, Risks, and Expenses — Asset Allocation Funds”).
The Fund is permitted to invest (directly or through Implementation Fund or other underlying GMO Funds) in any asset class (e.g., U.S. equity, non-U.S. equity, emerging country equity, U.S. fixed income, non-U.S. fixed income, emerging country debt and commodities), strategy (including event-driven strategies), sector, country, or region, and at times may have substantial exposure to a single asset class, sector, country, region, or currency or companies with similar market capitalizations. In addition, the Fund is not restricted in its exposure to any particular market and may invest in securities of companies of any market capitalization, and, in the case of debt instruments, of any credit quality (including below investment grade securities (commonly referred to as “high yield” or “junk bonds”)), maturity or duration. The Fund typically has substantial exposure to derivatives and short-sales through its investment in Implementation Fund and the other underlying GMO Funds. GMO’s ability to shift investments within Implementation Fund and between Implementation Fund and the other underlying GMO Funds is not subject to any limits.
In seeking to achieve the Fund’s investment objective, GMO may invest a significant portion of the Fund’s net assets in cash and cash equivalents. In addition, the Fund may lend its portfolio securities. The Fund also may invest in U.S. Treasury Fund, in money market funds unaffiliated with GMO, and directly in the types of investments typically held by money market funds.
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GBMIX - Performance

Return Ranking - Trailing

Period GBMIX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.6% -23.7% 16.4% 19.96%
1 Yr -5.8% -8.9% 48.3% 94.42%
3 Yr -2.1%* -2.2% 16.4% 95.32%
5 Yr N/A* -0.7% 13.4% 95.09%
10 Yr N/A* 0.9% 11.8% 90.53%

* Annualized

Return Ranking - Calendar

Period GBMIX Return Category Return Low Category Return High Rank in Category (%)
2022 -5.3% -40.8% 20.6% 68.96%
2021 0.2% -21.0% 24.5% 92.94%
2020 -2.1% -24.2% 27.8% N/A
2019 N/A -23.1% 11.7% N/A
2018 N/A -100.0% 20.6% N/A

Total Return Ranking - Trailing

Period GBMIX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.6% -23.7% 16.4% 19.31%
1 Yr -5.8% -12.8% 48.3% 87.71%
3 Yr -2.1%* -3.4% 16.4% 95.20%
5 Yr N/A* -1.1% 13.4% 94.97%
10 Yr N/A* 0.9% 11.8% 90.06%

* Annualized

Total Return Ranking - Calendar

Period GBMIX Return Category Return Low Category Return High Rank in Category (%)
2022 -5.3% -40.8% 20.6% 68.96%
2021 0.2% -21.0% 24.5% 92.94%
2020 -2.1% -24.2% 27.8% N/A
2019 N/A -23.1% 11.7% N/A
2018 N/A -2.9% 23.1% N/A

NAV & Total Return History


GBMIX - Holdings

Concentration Analysis

GBMIX Category Low Category High GBMIX % Rank
Net Assets 4.98 B 1.12 M 110 B 14.25%
Number of Holdings 8 2 10961 97.70%
Net Assets in Top 10 5.13 B -31.7 M 22 B 5.85%
Weighting of Top 10 N/A 10.8% 100.0% 2.78%

Top 10 Holdings

  1. GMO Implementation 91.38%
  2. GMO Opportunistic Income VI 3.59%
  3. GMO SGM Major Markets VI 2.76%
  4. Gmo Special Opportunities Vi 2.72%
  5. GMO Emerging Country Debt VI 2.25%
  6. State Street Instl Treasury MMkt Invsmt 0.09%

Asset Allocation

Weighting Return Low Return High GBMIX % Rank
Other
91.49% -1.25% 197.12% 0.63%
Cash
24.60% -97.12% 185.58% 5.85%
Preferred Stocks
0.00% -0.03% 14.00% 87.27%
Convertible Bonds
0.00% 0.00% 25.49% 90.40%
Stocks
-3.55% -45.72% 98.42% 98.33%
Bonds
-12.54% -39.76% 93.84% 99.16%

Bond Sector Breakdown

Weighting Return Low Return High GBMIX % Rank
Cash & Equivalents
67.46% 0.10% 100.00% 6.68%
Government
16.61% 0.00% 98.64% 66.18%
Derivative
8.62% 0.00% 41.88% 11.90%
Securitized
6.19% 0.00% 83.28% 43.01%
Corporate
1.13% 0.00% 99.90% 83.92%
Municipal
0.00% 0.00% 31.28% 74.11%

Bond Geographic Breakdown

Weighting Return Low Return High GBMIX % Rank
US
6.05% -177.12% 87.76% 87.06%
Non US
-18.59% -39.00% 137.36% 98.12%

GBMIX - Expenses

Operational Fees

GBMIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.07% 0.16% 2.71% 51.36%
Management Fee 0.80% 0.00% 1.70% 86.72%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.70% N/A

Sales Fees

GBMIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

GBMIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 2.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

GBMIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 7.00% 0.00% 441.00% 9.33%

GBMIX - Distributions

Dividend Yield Analysis

GBMIX Category Low Category High GBMIX % Rank
Dividend Yield 5.96% 0.00% 10.92% 11.85%

Dividend Distribution Analysis

GBMIX Category Low Category High Category Mod
Dividend Distribution Frequency Annually Annually Monthly Monthly

Net Income Ratio Analysis

GBMIX Category Low Category High GBMIX % Rank
Net Income Ratio 2.38% -5.20% 6.33% 57.30%

Capital Gain Distribution Analysis

GBMIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

View More +

GBMIX - Fund Manager Analysis

Managers

Ben Inker


Start Date

Tenure

Tenure Rank

Jul 23, 2003

18.87

18.9%

Mr. Inker, Co-Heads of the Division, is the director of asset allocation. Mr. Inker has been responsible for overseeing the portfolio management of GMO's asset allocation portfolios since 1996. Mr. Inker joined Grantham, Mayo, Van Otterloo & Co. LLC in 1992 following the completion of his B.A. in Economics from Yale University. He is a CFA charterholder.

John Thorndike


Start Date

Tenure

Tenure Rank

Jun 30, 2019

2.92

2.9%

John Thorndike joined TAS in 2004. Prior to joining TAS, Mr. Thorndike was an analyst in the investment office of Bowdoin College.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.03 30.27 6.52 9.25