GUGAX Performance — GMO Multi-Sector Fixed Income Fund, Class III
Data updated: 2026-01-29
GUGAX returned +6.00% over one year to Nov 2025. Annualised returns are +4.72% over 3 years and −0.86% over 5 years. The fund trailed its Alternative category average: $100 invested three years ago grew to $115, against $171 for the category, and to $106 over one year, against $109. Volatility over the past three years was 6.21% a year. In the 12 months to Nov 2025 the fund took in a net $7.8M, and assets reached $88.75M.
GUGAX Growth of $100
What $100 invested in GMO Multi-Sector Fixed Income Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Alternative category average over the same months.
| Period | GUGAX | Category average |
|---|---|---|
| 1 year (Dec 2024 – Nov 2025) | $106 | $109 |
| 3 years (Dec 2022 – Nov 2025) | $115 | $171 |
| 5 years (Dec 2020 – Nov 2025) | $96 | $167 |
| Since data start (Sep 2019 – Nov 2025) | $102 | $184 |
GUGAX Trailing Returns
Total returns to Nov 2025, from SEC N-PORT.
| Period | Total return |
|---|---|
| 1 year | +6.00% |
| 3 years (annualised) | +4.72% |
| 5 years (annualised) | −0.86% |
GUGAX Annual Returns
Calendar-year total returns of GMO Multi-Sector Fixed Income Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2025 (Jan–Nov) | +7.55% |
| 2024 | +1.31% |
| 2023 | +6.02% |
| 2022 | −14.53% |
| 2021 | −3.17% |
| 2020 | +7.88% |
| 2019 (Sep–Dec) | −0.78% |
GUGAX 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | +0.6% | +2.2% | +0.1% | +0.2% | −0.7% | +1.7% | −0.2% | +1.3% | +1.0% | +0.6% | +0.6% | — |
| 2024 | −0.3% | −1.2% | +1.1% | −2.6% | +1.7% | +0.9% | +2.2% | +1.4% | +1.3% | −2.6% | +1.1% | −1.4% |
| 2023 | +3.3% | −2.7% | +2.4% | +0.7% | −1.1% | −0.2% | +0.4% | −0.5% | −2.1% | −2.5% | +4.2% | +4.4% |
| 2022 | −2.0% | −1.9% | −3.1% | −3.9% | +0.3% | −2.7% | +3.6% | −2.9% | −4.7% | −1.0% | +3.8% | −0.6% |
| 2021 | −0.9% | −2.5% | −1.3% | +1.7% | +0.6% | +0.9% | +0.9% | −0.1% | −1.2% | −1.4% | 0.0% | +0.1% |
| 2020 | +1.7% | +1.9% | −2.2% | +2.1% | +1.4% | +0.9% | +1.7% | −0.7% | +0.1% | −0.6% | +1.2% | +0.2% |
| 2019 | — | — | — | — | — | — | — | — | −0.7% | 0.0% | 0.0% | 0.0% |
GUGAX Risk
Risk measures from monthly returns over Dec 2022 – Nov 2025.
- 3-year volatility (annualised): 6.21%
- 3-year Sharpe ratio: 0.04 (vs 4.5% risk-free rate)
- Best month: +4.37% (Dec 2023)
- Worst month: −2.71% (Feb 2023)
GUGAX Fund Flows
Monthly money in and out of GMO Multi-Sector Fixed Income Fund, from SEC Form N-PORT.
- 12-month net flow: $7.8M
- 12-month gross sales (incl. reinvestments): $13.7M
- Sales ÷ redemptions: 2.33×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Nov 2025 | $3.2M | $0 | $3.2M |
| Oct 2025 | $0 | $87K | −$87K |
| Sep 2025 | $0 | $0 | $0 |
| Aug 2025 | $0 | $900K | −$900K |
| Jul 2025 | $4.1M | $266K | $3.8M |
| Jun 2025 | $2.1M | $3.2M | −$1.1M |
| May 2025 | $0 | $0 | $0 |
| Apr 2025 | $8K | $1.3M | −$1.3M |
| Mar 2025 | $0 | $0 | $0 |
| Feb 2025 | $1.6M | $0 | $1.6M |
| Jan 2025 | $0 | $0 | $0 |
| Dec 2024 | $2.7M | $100K | $2.6M |
GUGAX Assets Under Management
Net assets of GMO Multi-Sector Fixed Income Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2025-11-30 | $88.75M |
| 2025-08-31 | $83.75M |
| 2025-05-31 | $80.65M |
| 2025-02-28 | $82.24M |
| 2024-11-30 | $80.25M |
| 2024-08-31 | $81.95M |
| 2024-05-31 | $78.47M |
| 2024-02-29 | $76.02M |
| 2023-11-30 | $97.05M |
| 2023-08-31 | $117.40M |
| 2023-05-31 | $117.77M |
| 2023-02-28 | $103.88M |
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.