GMAVX Performance — GMO Emerging Markets ex-China Fund, Class I
Data updated: 2026-09-29
GMAVX returned +16.29% over one year to Jul 2023. Over one year the fund beat its Emerging Markets Equity category average: $100 grew to $116, against $110 for the category. Volatility over the past 12 months was 22.04% a year. In the 12 months to May 2026 the fund lost a net $13.5M, and assets reached $112.75M.
GMAVX Growth of $100
What $100 invested in GMO Emerging Markets ex-China Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Emerging Markets Equity category average over the same months.
| Period | GMAVX | Category average |
|---|---|---|
| 1 year (Aug 2022 – Jul 2023) | $116 | $110 |
| Since data start (Dec 2021 – Jul 2023) | $81 | $90 |
GMAVX Trailing Returns
Total returns to Jul 2023, from SEC N-PORT.
| Period | Total return |
|---|---|
| 1 year | +16.29% |
GMAVX Annual Returns
Calendar-year total returns of GMO Emerging Markets ex-China Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2023 (Jan–Jul) | +16.19% |
| 2022 | −32.58% |
| 2021 (Dec–Dec) | +3.96% |
GMAVX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 | +8.3% | −4.3% | +1.6% | +0.4% | +0.1% | +3.9% | +5.6% | — | — | — | — | — |
| 2022 | −2.9% | −14.2% | −5.7% | −6.9% | +1.7% | −12.7% | +3.7% | −0.8% | −10.9% | +5.3% | +12.8% | −4.7% |
| 2021 | — | — | — | — | — | — | — | — | — | — | — | +4.0% |
GMAVX Risk
Risk measures from monthly returns over Aug 2022 – Jul 2023.
- 1-year volatility (annualised): 22.04%
- Best month: +12.77% (Nov 2022)
- Worst month: −10.93% (Sep 2022)
GMAVX Fund Flows
Monthly money in and out of GMO Emerging Markets ex-China Fund, from SEC Form N-PORT.
- 12-month net flow: −$13.5M
- 12-month gross sales (incl. reinvestments): $11.2M
- Sales ÷ redemptions: 0.45×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $0 | $9.6M | −$9.6M |
| Apr 2026 | $0 | $245K | −$245K |
| Mar 2026 | $3.1M | $1.8M | $1.2M |
| Feb 2026 | $0 | $2.2M | −$2.2M |
| Jan 2026 | $0 | $441K | −$441K |
| Dec 2025 | $6.8M | $0 | $6.8M |
| Nov 2025 | $0 | $1.7M | −$1.7M |
| Oct 2025 | $0 | $1.5M | −$1.5M |
| Sep 2025 | $0 | $890K | −$890K |
| Aug 2025 | $0 | $2.7M | −$2.7M |
| Jul 2025 | $1.3M | $355K | $938K |
| Jun 2025 | $0 | $3.2M | −$3.2M |
GMAVX Assets Under Management
Net assets of GMO Emerging Markets ex-China Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $112.75M |
| 2026-02-28 | $97.82M |
| 2025-11-30 | $78.48M |
| 2025-08-31 | $76.43M |
| 2025-05-31 | $76.40M |
| 2025-02-28 | $70.34M |
| 2024-11-30 | $76.07M |
| 2024-08-31 | $84.22M |
| 2024-05-31 | $115.62M |
| 2024-02-29 | $237.28M |
| 2023-11-30 | $214.63M |
| 2023-08-31 | $246.65M |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.