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Trending ETFs

GMO Alternative Allocation Fund

mutual fund
GAAVX
Payout Change
Pending
Price as of:
$17.68 -0.01 -0.06%
primary theme
N/A
share class
Other (GAAVX) R6 (GAAKX) I (GAAGX)
GAAVX (Mutual Fund)

GMO Alternative Allocation Fund

Payout Change
Pending
Price as of:
$17.68 -0.01 -0.06%
primary theme
N/A
share class
Other (GAAVX) R6 (GAAKX) I (GAAGX)
GAAVX (Mutual Fund)

GMO Alternative Allocation Fund

Payout Change
Pending
Price as of:
$17.68 -0.01 -0.06%
primary theme
N/A
share class
Other (GAAVX) R6 (GAAKX) I (GAAGX)

Name

As of 12/13/2024

Price

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

GMO Alternative Allocation Fund

GAAVX | Fund

$17.68

$184 M

1.11%

$0.20

2.03%

Vitals

YTD Return

-3.5%

1 yr return

-2.7%

3 Yr Avg Return

2.2%

5 Yr Avg Return

0.3%

Net Assets

$184 M

Holdings in Top 10

100.0%

52 WEEK LOW AND HIGH

$17.7
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 2.03%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A

Min Investment

Standard (Taxable)

$750,000,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 12/13/2024

Price

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

GMO Alternative Allocation Fund

GAAVX | Fund

$17.68

$184 M

1.11%

$0.20

2.03%

GAAVX - Profile

Distributions

  • YTD Total Return -3.5%
  • 3 Yr Annualized Total Return 2.2%
  • 5 Yr Annualized Total Return 0.3%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 0.29%
DIVIDENDS
  • Dividend Yield 1.1%
  • Dividend Distribution Frequency SemiAnnual

Fund Details

  • Legal Name
    GMO Alternative Allocation Fund
  • Fund Family Name
    GMO
  • Inception Date
    May 01, 2019
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    B.J. Brannan

Fund Description

The Fund seeks annualized returns of 4% (net of fees) above cash (FTSE 3-Month Treasury Bill Index) over a complete market cycle. GMO does not expect the Fund’s performance to be highly correlated with that of traditional equity market indices. The Fund invests directly or indirectly (through other GMO funds) in a combination of GMO investment strategies. The Fund typically has exposure to many underlying strategies, and at any given time the Fund may have significant exposure to a single or a few strategies. Below are some of the strategies in which GMO expects the Fund to invest:●Fixed Income Absolute Return: strategy of exploiting opportunities in global debt and currency markets by investing in fixed income instruments of varying maturities, durations and credit qualities (including bonds, forward contracts, swap contracts or other derivatives)●Event-Driven: strategy of investing primarily in equity securities of companies that GMO expects to experience a material corporate event or catalyst in the relative short-term. These events are typically agreed-to merger and acquisition transactions but also may include corporate buy-ins, hostile mergers, pre-bid acquisitions, and corporate spin-offs, as well as restructurings and corporate litigation and regulatory events.●Systematic Put Writing: put option writing strategy on U.S. and non-U.S. stock indices based on GMO’s evaluation of the income the Fund can receive for writing put options on a given index relative to the income for writing put options on other indices, taking into consideration the historical risk premium for writing put options on those indices.●Global Macro: long/short strategy across a range of global equity, bond, currency, and commodity markets using exchange-traded futures, forward currency contracts, and swaps, as well as other investments, using GMO’s proprietary investment models for systematic global tactical asset allocation and equity, bond, currency and commodity market selection.●Long/Short Equities: global, regional and/or industry-specific long-short equity exposures●Long/Short Asset Allocation: strategy of taking long positions in asset and sub-asset classes that GMO expects will outperform relative to the asset and sub-asset classes to which the Fund has short investment exposure.●High Yield: systematic, factor-based strategy of investing in high yield bonds and other instruments providing high yield bond exposure, including fallen angel bonds (bonds originally issued as investment grade that have since been downgraded to below investment grade), short-dated bonds, exchange-traded funds (“ETFs”), total return swaps on high yield indices, and options on ETFs and high yield indices.GMO may discontinue or add new strategies at any time, and the factors GMO considers can change over time. GMO does not manage the Fund to, or control the Fund’s risk relative to, any securities index or securities benchmark. The Fund may have long and/or short exposure to 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), sector, country, or region, and at times may have substantial exposure to a single asset class, sector, country, region, issuer, or currency and 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 and duration. GMO’s ability to shift investments among asset classes is not subject to any limits.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. Because of its derivative positions, the Fund typically has gross investment exposure in excess of its net assets (i.e., the Fund typically is leveraged) and, therefore may be subject to higher risk of loss than if the Fund were not leveraged. The Fund may lend its portfolio securities.The Fund gains exposure to commodities and some other asset classes by investing through a wholly-owned subsidiary advised by GMO, which does not receive any management or other fees for its services to the subsidiary. The subsidiary invests primarily in commodity-related derivatives (such as over-the-counter swaps on commodity indices) and fixed income investments but also may invest in any other investment in which the Fund is permitted to invest directly. References in this Prospectus to actions taken by the Fund refer to actions taken by the subsidiary as well as the Fund. The Fund does not invest directly in commodities and commodity-related derivatives (such as swaps on commodity indices).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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GAAVX - Performance

Return Ranking - Trailing

Period GAAVX Return Category Return Low Category Return High Rank in Category (%)
YTD -3.5% -73.0% 19.4% 88.53%
1 Yr -2.7% -9.1% 86.9% 81.09%
3 Yr 2.2%* -9.5% 16.2% N/A
5 Yr 0.3%* -4.9% 14.4% N/A
10 Yr N/A* -0.9% 7.5% N/A

* Annualized

Return Ranking - Calendar

Period GAAVX Return Category Return Low Category Return High Rank in Category (%)
2023 0.8% -22.7% 305.1% 71.85%
2022 2.6% -9.8% 27.3% N/A
2021 -8.8% -20.8% 10.9% N/A
2020 -2.6% -12.4% 29.4% N/A
2019 N/A -10.5% 15.8% N/A

Total Return Ranking - Trailing

Period GAAVX Return Category Return Low Category Return High Rank in Category (%)
YTD -3.5% -73.0% 19.4% 88.53%
1 Yr -2.7% -13.4% 86.9% 73.09%
3 Yr 2.2%* -9.5% 16.2% N/A
5 Yr 0.3%* -5.3% 14.4% N/A
10 Yr N/A* -0.9% 7.5% N/A

* Annualized

Total Return Ranking - Calendar

Period GAAVX Return Category Return Low Category Return High Rank in Category (%)
2023 6.1% -22.7% 305.1% 71.85%
2022 3.6% -9.8% 27.3% N/A
2021 -5.1% -20.8% 10.9% N/A
2020 -0.3% -8.4% 29.4% N/A
2019 N/A -10.2% 18.0% N/A

NAV & Total Return History

GAAVX - Holdings

Concentration Analysis

GAAVX Category Low Category High GAAVX % Rank
Net Assets 184 M 1.5 M 5.01 B 25.09%
Number of Holdings 911 4 4478 28.27%
Net Assets in Top 10 186 M -398 M 2.55 B 24.38%
Weighting of Top 10 100.05% 13.1% 100.0% 37.61%

Top 10 Holdings

  1. Uniform Mortgage-Backed Security, TBA 31.58%
  2. U.S. Treasury Floating Rate Notes 23.64%
  3. Berkshire Hathaway Inc 14.76%
  4. Japan Treasury Discount Bill 7.38%
  5. REPO DAIWA 6.47%
  6. U.S. Treasury Floating Rate Notes 5.39%
  7. Albertsons Cos Inc 3.23%
  8. Hess Corp 2.99%
  9. Liberty Broadband Corp 2.37%
  10. United States Steel Corp 2.25%

Asset Allocation

Weighting Return Low Return High GAAVX % Rank
Stocks 		54.10% -3.75% 97.95% 67.14%
Bonds 		47.50% -326.45% 6347.80% 11.31%
Cash 		9.43% -6278.21% 410.43% 73.14%
Other 		4.61% -21.53% 148.54% 62.90%
Preferred Stocks 		0.36% -0.12% 46.97% 35.34%
Convertible Bonds 		0.00% 0.00% 87.92% 67.84%

Stock Sector Breakdown

Weighting Return Low Return High GAAVX % Rank
Technology 		23.05% 0.00% 39.58% 51.18%
Healthcare 		17.20% 0.00% 45.63% 72.44%
Industrials 		15.49% 0.00% 21.45% 91.34%
Financial Services 		13.56% 0.00% 59.28% 39.37%
Communication Services 		10.94% 0.00% 21.78% 1.18%
Consumer Cyclical 		5.04% 0.00% 29.09% 96.46%
Real Estate 		4.55% 0.00% 51.26% 76.77%
Utilities 		3.89% 0.00% 9.23% 51.57%
Energy 		2.95% 0.00% 100.00% 4.72%
Basic Materials 		1.94% 0.00% 27.46% 41.73%
Consumer Defense 		1.38% 0.00% 13.62% 76.38%

Stock Geographic Breakdown

Weighting Return Low Return High GAAVX % Rank
US 		41.60% -8.85% 91.88% 78.45%
Non US 		12.50% -19.62% 42.11% 26.86%

Bond Sector Breakdown

Weighting Return Low Return High GAAVX % Rank
Securitized 		13.32% 0.00% 56.83% 15.19%
Government 		11.00% 0.00% 84.29% 5.30%
Cash & Equivalents 		9.43% 0.27% 100.00% 86.93%
Corporate 		0.12% 0.00% 87.73% 70.32%
Municipal 		0.00% 0.00% 27.33% 39.58%
Derivative 		-1.86% 0.00% 88.81% 44.52%

Bond Geographic Breakdown

Weighting Return Low Return High GAAVX % Rank
US 		46.94% -126.19% 6311.18% 15.55%
Non US 		0.56% -382.37% 121.02% 15.90%

GAAVX - Expenses

Operational Fees

GAAVX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.03% 0.29% 31.15% 74.10%
Management Fee 0.78% 0.00% 2.50% 27.92%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.30% N/A

Sales Fees

GAAVX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.50% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

GAAVX 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.

GAAVX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 491.00% 84.27%

GAAVX - Distributions

Dividend Yield Analysis

GAAVX Category Low Category High GAAVX % Rank
Dividend Yield 1.11% 0.00% 4.56% 24.73%

Dividend Distribution Analysis

GAAVX Category Low Category High Category Mod
Dividend Distribution Frequency SemiAnnual Annually Quarterly Annually

Net Income Ratio Analysis

GAAVX Category Low Category High GAAVX % Rank
Net Income Ratio 0.29% -2.51% 6.83% 39.21%

Capital Gain Distribution Analysis

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

Distributions History

View More +

GAAVX - Fund Manager Analysis

Managers

B.J. Brannan

Start Date

Tenure

Tenure Rank

Apr 17, 2019

3.12

3.1%

Mr. Brannan has been responsible for overseeing the portfolio management of Alternative Allocation Fund since 2019.

Ben Inker

Start Date

Tenure

Tenure Rank

Apr 17, 2019

3.12

3.1%

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.

Matt Kadnar

Start Date

Tenure

Tenure Rank

Apr 17, 2019

3.12

3.1%

Mr. Kadnar has been a member of GMO’s Asset Allocation Team since 2005.

John Thorndike

Start Date

Tenure

Tenure Rank

Oct 01, 2021

0.66

0.7%

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
0.02 17.37 4.48 1.67

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