GMO Emerging Markets ex-China Fund
Fund
GMAQX
Price as of:
$14.34
- $0.02
- 0.14%
Primary Theme
fund company
Name
As of 11/20/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
3.9%
1 yr return
13.0%
3 Yr Avg Return
-3.4%
5 Yr Avg Return
N/A
Net Assets
$229 M
Holdings in Top 10
31.9%
52 WEEK LOW AND HIGH
$14.4
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.82%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 11/20/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
GMAQX - Profile
Distributions
- YTD Total Return 3.9%
- 3 Yr Annualized Total Return -3.4%
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 2.36%
- Dividend Yield 4.5%
- Dividend Distribution Frequency SemiAnnual
Fund Details
-
Legal NameGMO Emerging Markets ex-China Fund
-
Fund Family NameGMO Mutual Funds
-
Inception DateOct 18, 2021
-
Shares OutstandingN/A
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerAmit Bhartia
Fund Description
GMO seeks to achieve the Fund’s investment objective by investing the Fund’s assets primarily in companies tied economically to markets that are not treated as developed markets in the MSCI World Index, with the exception of China (“emerging markets”). GMO selects the securities the Fund buys and sells based on its evaluation of companies’ published financial information, securities’ prices, equity and other markets (e.g., bond and currency), the overall global economy, and governmental policies. The Fund typically has a value bias relative to its benchmark.In selecting securities for the Fund, GMO uses a combination of proprietary quantitative investment methods to identify emerging market equities GMO believes have positive return potential relative to other emerging markets equities. Some of these methods evaluate individual companies or groups of companies based on (among other factors) the ratio of their security price to historical financial information and forecasted financial information, such as return on invested capital, profitability, cash flow and earnings, and a comparison of these ratios to current and historical averages. Other methods focus on patterns of information, such as price movement or volatility of an asset class, security, or market, and macroeconomic factors. In constructing the Fund’s portfolio, GMO also considers position size, sector and industry exposure, country and region exposure, currencies, market capitalization, risk relative to the benchmark, liquidity, and transaction costs. GMO also may consider ESG (environmental, social and governance) criteria. For example, GMO generally avoids investing the Fund’s assets in companies engaged in the manufacture, supply, or distribution of cluster munitions, as well as companies primarily involved in the mining and production of thermal coal. At times, the Fund may have substantial exposure to a single asset class, industry, sector, country, region, issuer, or currency and companies with similar market capitalizations. The Fund may invest in securities of companies of any market capitalization. The factors GMO considers and investment methods GMO uses can change over time.As an alternative to investing directly in equities, the Fund may invest in exchange-traded and over-the-counter (OTC) derivatives and exchange-traded funds (ETFs). The Fund also may invest in derivatives and ETFs in an attempt to obtain or adjust elements of its long or short investment exposure. Derivatives used may include options, futures, forward currency contracts, and swap contracts. GMO typically seeks to limit the carbon intensity of the Fund’s portfolio to no more than that of the Fund’s benchmark. In addition, the Fund may lend its portfolio securities.Under normal circumstances, the Fund invests directly and indirectly (through underlying funds or derivatives) at least 80% of its assets in emerging markets companies (see “Name Policies”).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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GMAQX - Performance
Return Ranking - Trailing
| Period | GMAQX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 3.9% | -12.0% | 32.8% | 82.58% |
| 1 Yr | 13.0% | -7.2% | 35.4% | 42.92% |
| 3 Yr | -3.4%* | -14.3% | 11.2% | 50.15% |
| 5 Yr | N/A* | -5.5% | 11.3% | N/A |
| 10 Yr | N/A* | -2.1% | 6.5% | N/A |
* Annualized
Return Ranking - Calendar
| Period | GMAQX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 18.9% | -6.5% | 35.5% | 7.48% |
| 2022 | -35.6% | -50.1% | -2.4% | 93.89% |
| 2021 | N/A | -33.1% | 22.5% | N/A |
| 2020 | N/A | -22.1% | 80.1% | N/A |
| 2019 | N/A | -0.7% | 42.0% | N/A |
Total Return Ranking - Trailing
| Period | GMAQX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 3.9% | -12.0% | 32.8% | 82.58% |
| 1 Yr | 13.0% | -7.2% | 35.4% | 42.92% |
| 3 Yr | -3.4%* | -14.3% | 11.2% | 50.15% |
| 5 Yr | N/A* | -5.5% | 11.3% | N/A |
| 10 Yr | N/A* | -2.1% | 6.5% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | GMAQX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 27.3% | -2.7% | 42.0% | 1.13% |
| 2022 | -32.4% | -42.2% | 1.9% | 93.60% |
| 2021 | N/A | -32.5% | 33.1% | N/A |
| 2020 | N/A | -20.0% | 81.6% | N/A |
| 2019 | N/A | 2.3% | 42.0% | N/A |
NAV & Total Return History
GMAQX - Holdings
Concentration Analysis
| GMAQX | Category Low | Category High | GMAQX % Rank | |
|---|---|---|---|---|
| Net Assets | 229 M | 682 K | 103 B | 66.48% |
| Number of Holdings | 294 | 9 | 7534 | 20.42% |
| Net Assets in Top 10 | 26.9 M | 290 K | 23.8 B | 79.58% |
| Weighting of Top 10 | 31.89% | 2.9% | 101.1% | 62.48% |
Top 10 Holdings
- Taiwan Semiconductor Manufacturing Co Ltd 8.82%
- OTP Bank Nyrt 3.09%
- Grupo Financiero Banorte SAB de CV 2.93%
- Bharat Petroleum Corp Ltd 2.78%
- Cia Energetica de Minas Gerais 2.77%
- Oil Natural Gas Corp Ltd 2.61%
- Bank Central Asia Tbk PT 2.35%
- FirstRand Ltd 2.24%
- Novatek Microelectronics Corp 2.21%
- Catcher Technology Co Ltd 2.09%
Asset Allocation
| Weighting | Return Low | Return High | GMAQX % Rank | |
|---|---|---|---|---|
| Stocks | 91.78% | 0.00% | 107.82% | 91.41% |
| Preferred Stocks | 6.38% | 0.00% | 13.31% | 2.68% |
| Cash | 1.85% | -2.03% | 98.08% | 48.03% |
| Other | 0.00% | -1.11% | 26.93% | 66.34% |
| Convertible Bonds | 0.00% | 0.00% | 7.40% | N/A |
| Bonds | 0.00% | 0.00% | 88.10% | 60.99% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | GMAQX % Rank | |
|---|---|---|---|---|
| Utilities | 0.00% | 0.00% | 39.12% | N/A |
| Technology | 0.00% | 0.00% | 47.50% | N/A |
| Real Estate | 0.00% | 0.00% | 17.15% | N/A |
| Industrials | 0.00% | 0.00% | 43.53% | N/A |
| Healthcare | 0.00% | 0.00% | 16.53% | N/A |
| Financial Services | 0.00% | 0.00% | 48.86% | N/A |
| Energy | 0.00% | 0.00% | 24.80% | N/A |
| Communication Services | 0.00% | 0.00% | 39.29% | N/A |
| Consumer Defense | 0.00% | 0.00% | 25.90% | N/A |
| Consumer Cyclical | 0.00% | 0.00% | 48.94% | N/A |
| Basic Materials | 0.00% | 0.00% | 30.03% | N/A |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | GMAQX % Rank | |
|---|---|---|---|---|
| Non US | 87.53% | 0.00% | 100.18% | 43.80% |
| US | 4.25% | 0.00% | 100.95% | 79.15% |
GMAQX - Expenses
Operational Fees
| GMAQX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.82% | 0.03% | 29.98% | 83.05% |
| Management Fee | 0.61% | 0.00% | 2.00% | 15.66% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.01% | 0.85% | N/A |
Sales Fees
| GMAQX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| GMAQX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 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.
| GMAQX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | 0.00% | 189.00% | 44.80% |
GMAQX - Distributions
Dividend Yield Analysis
| GMAQX | Category Low | Category High | GMAQX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 4.53% | 0.00% | 9.74% | 1.55% |
Dividend Distribution Analysis
| GMAQX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | SemiAnnual | Annual | Annual | Annual |
Net Income Ratio Analysis
| GMAQX | Category Low | Category High | GMAQX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 2.36% | -1.98% | 17.62% | 10.53% |
Capital Gain Distribution Analysis
| GMAQX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Jun 12, 2024 | $1.205 | CapitalGainShortTerm |
| Dec 21, 2023 | $0.840 | OrdinaryDividend |
| Jul 11, 2023 | $0.194 | OrdinaryDividend |
| Dec 21, 2022 | $0.541 | OrdinaryDividend |
| Jul 12, 2022 | $0.095 | OrdinaryDividend |
| Dec 22, 2021 | $0.132 | OrdinaryDividend |
GMAQX - Fund Manager Analysis
Managers
Amit Bhartia
Start Date
Tenure
Tenure Rank
Jun 30, 2021
0.92
0.9%
Portfolio Manager, Emerging Markets Equity Team, GMO Singapore. Mr. Bhartia has been responsible for providing portfolio management and research services to this and GMO’s other emerging markets equity portfolios since 1995a nd has overseen the portfolio management of GMO’s emerging domestic opportunity equity portfolios since 2011.
Arjun Divecha
Start Date
Tenure
Tenure Rank
Jun 30, 2021
0.92
0.9%
Mr. Divecha is the head of GMO’s Emerging Markets Equity team and a member of the GMO Board of Directors. Prior to joining GMO in 1993, he spent 12 years at BARRA directing software development, marketing, client service and emerging markets research and development. Mr. Divecha holds a Bachelor of Technology in Aeronautical Engineering from the Indian Institute of Technology, Bombay and an M.B.A. in Finance from Cornell University.
Warren Chiang
Start Date
Tenure
Tenure Rank
Jun 30, 2021
0.92
0.9%
Mr. Chiang is a portfolio manager for GMO’s Emerging Markets Equity team and oversees quantitative research. Prior to joining GMO in 2015, he worked at Mellon Capital Management as a Managing Director of Active Equity Strategies. Previously, he worked at the Federal Reserve Bank of San Francisco as a research associate. Mr. Chiang earned his B.A. in Economics and his MBA from the University of California Berkeley. He is a CFA charterholder.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.09 | 33.71 | 6.65 | 13.42 |