GMWAX Performance — GMO Global Asset Allocation Fund, Class III
Data updated: 2026-09-29
GMWAX returned +11.93% year to date and +29.39% over one year to May 2026. Annualised returns are +17.74% over 3 years and +7.62% over 5 years. The fund beat its Global Multi-Cap Blend category average: $100 invested three years ago grew to $163, against $154 for the category, and to $129 over one year, against $123. Volatility over the past three years was 9.24% a year. In the 12 months to May 2026 the fund took in a net $154.1M, and assets reached $657.48M.
GMWAX Growth of $100
What $100 invested in GMO Global Asset Allocation Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Global Multi-Cap Blend category average over the same months.
| Period | GMWAX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $129 | $123 |
| 3 years (Jun 2023 – May 2026) | $163 | $154 |
| 5 years (Jun 2021 – May 2026) | $144 | $144 |
| Since data start (Sep 2019 – May 2026) | $182 | $192 |
GMWAX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +11.93% |
| 1 year | +29.39% |
| 3 years (annualised) | +17.74% |
| 5 years (annualised) | +7.62% |
GMWAX Annual Returns
Calendar-year total returns of GMO Global Asset Allocation Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +11.93% |
| 2025 | +23.39% |
| 2024 | +5.15% |
| 2023 | +16.15% |
| 2022 | −12.68% |
| 2021 | +7.04% |
| 2020 | +6.16% |
| 2019 (Sep–Dec) | +8.79% |
GMWAX 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +4.2% | +4.4% | −5.0% | +4.4% | +3.7% | — | — | — | — | — | — | — |
| 2025 | +2.4% | +0.9% | 0.0% | +0.5% | +2.7% | +3.3% | +0.4% | +3.7% | +1.9% | +1.2% | +2.6% | +1.6% |
| 2024 | −0.4% | +1.4% | +2.8% | −2.7% | +3.5% | −0.7% | +3.0% | +1.5% | +1.2% | −3.7% | +1.3% | −1.8% |
| 2023 | +5.8% | −2.4% | +1.3% | +0.9% | −2.1% | +4.0% | +3.1% | −2.1% | −1.6% | −2.9% | +6.4% | +5.3% |
| 2022 | −0.9% | −3.7% | −2.2% | −4.0% | +1.6% | −6.4% | +3.4% | −2.6% | −6.9% | +3.3% | +7.8% | −1.9% |
| 2021 | +0.6% | +1.7% | +2.4% | +1.9% | +2.5% | −1.2% | −1.1% | +1.0% | −2.3% | +0.6% | −2.5% | +3.7% |
| 2020 | −1.9% | −4.1% | −11.5% | +6.7% | +2.3% | +2.2% | +3.5% | +1.7% | −1.4% | −0.9% | +7.1% | +3.8% |
| 2019 | — | — | — | — | — | — | — | — | +2.1% | +2.2% | +0.9% | +3.3% |
GMWAX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 9.24%
- 3-year Sharpe ratio: 1.43 (vs 4.5% risk-free rate)
- Best month: +6.37% (Nov 2023)
- Worst month: −5.02% (Mar 2026)
GMWAX Fund Flows
Monthly money in and out of GMO Global Asset Allocation Fund, from SEC Form N-PORT.
- 12-month net flow: $154.1M
- 12-month gross sales (incl. reinvestments): $182.1M
- Sales ÷ redemptions: 6.50×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $11.8M | $1.5M | $10.3M |
| Apr 2026 | $31.3M | $2.9M | $28.4M |
| Mar 2026 | $25.2M | $1.1M | $24.1M |
| Feb 2026 | $11.2M | $303K | $10.9M |
| Jan 2026 | $15.7M | $944K | $14.8M |
| Dec 2025 | $44.9M | $2.0M | $42.9M |
| Nov 2025 | $27.3M | $2.2M | $25.1M |
| Oct 2025 | $64K | $3.6M | −$3.5M |
| Sep 2025 | $20K | $6.8M | −$6.8M |
| Aug 2025 | $540K | $4.8M | −$4.2M |
| Jul 2025 | $14.1M | $1.8M | $12.2M |
| Jun 2025 | $63K | $161K | −$99K |
GMWAX Assets Under Management
Net assets of GMO Global Asset Allocation Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $657.48M |
| 2026-02-28 | $573.82M |
| 2025-11-30 | $474.63M |
| 2025-08-31 | $434.25M |
| 2025-05-31 | $396.57M |
| 2025-02-28 | $378.48M |
| 2024-11-30 | $374.11M |
| 2024-08-31 | $381.87M |
| 2024-05-31 | $370.40M |
| 2024-02-29 | $355.48M |
| 2023-11-30 | $349.70M |
| 2023-08-31 | $347.53M |
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.