ETF Evaluator:
GMO Systematic Investment Grd Crdt ETF ()
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(as of Aug 25)
Best Performing in Corporate Bond Over the Last Year
| 4.6% | Pacer US Cash Cows Bond ETF (MILK) |
| 3.8% | PGIM Corporate Bond 0-5 Year ETF (PCS) |
| 3.6% | Hilton BDC Corporate Bond ETF (HBDC) |
| 3.5% | iShares Invm Grd Crp Bd Buywrt Stgy ETF (LQDW) |
| 3.3% | State Street SPDR Port ItmtTermCorpBdETF (SPIB) |
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ETF Details
GMO Systematic Investment Grd Crdt ETF Overview
GMO Systematic Investment Grd Crdt ETF (INVG) is an actively managed Taxable Bond Corporate Bond exchange-traded fund (ETF). GMO launched the ETF in 2025.
The investment seeks total return in excess of the Bloomberg U.S. Corporate Index.
The fund is an actively managed ETF that seeks to achieve its investment objective by investing primarily in U.S. investment grade debt securities. GMO determines fund investments utilizing its proprietary systematic investment approach analyzing bonds based on factors including value, quality, momentum, and company fundamentals. Under normal circumstances, the fund invests directly and indirectly at least 80% of its assets in investment grade debt securities.
About GMO Systematic Investment Grd Crdt ETF (INVG)
There are 2 members of the management team with an average tenure of 1.16 years: Rachna Ramachandran (2025) and James Donaldson (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
GMO Systematic Investment Grd Crdt ETF has 131 securities in its portfolio. The top 10 holdings constitute 10.2% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
GMO Systematic Investment Grd Crdt ETF is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. GMO Systematic Investment Grd Crdt ETF has 14.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 99.4% (84.5% domestic bond, 14.8% foreign bond and 0.0% convertible bond). GMO Systematic Investment Grd Crdt ETF has 0.6% of the portfolio in cash.
Assets Under Management
The fund has $23 million in total assets, which is below the $3 billion average for the Corporate Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
INVG Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The GMO Systematic Investment Grd Crdt ETF expense ratio is below average compared to funds in the Corporate Bond category. GMO Systematic Investment Grd Crdt ETF has an expense ratio of 0.25%, which is 2% higher than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. GMO Systematic Investment Grd Crdt ETF has a portfolio turnover rate of 65%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 58% for the Corporate Bond category.
Recently, in the month of July 2026, GMO Systematic Investment Grd Crdt ETF returned -1.7%, which earned it a grade of C, as the Corporate Bond category had an average return of -1.4%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
GMO Systematic Investment Grd Crdt ETF has a trailing yield of 4.91%, which is below the 5.07% category average.
The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
GMO Systematic Investment Grd Crdt ETF Grades
Year to date, the ETF has returned -0.5%, 0.1 percentage points better than the category, which translates into a grade of B. The fund has returned 2.7% over the past year (grade of C).
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INVG Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| INVG Return (NAV) | -1.7% | -0.6% | 2.7% | na | na | na |
| INVG Return (Price) | -1.8% | -0.7% | 1.9% | na | na | na |
| NAV +/- Price Return | 0.106% | 0.109% | 0.777% | na | na | na |
| Corporate Bond Avg | -1.4% | -0.6% | 2.6% | 4.8% | 0.1% | 2.3% |
| INVG Grade (NAV) | C | B | C | na | na | na |
| +/- Category (NAV) | -0.2% | 0.1% | 0.1% | na | na | na |
| INVG Tax-Cost Ratio | na | na | 1.9% | na | na | na |
INVG Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| INVG Return (NAV) | -0.5% | na | na | na | na | na | na | na | na | na | na |
| INVG Return (Price) | -0.6% | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.224% | na | na | na | na | na | na | na | na | na | na |
| Corporate Bond Avg | -0.6% | 7.8% | 2.8% | 8.3% | -14.8% | -0.9% | 9.6% | 13.5% | -2.0% | 5.2% | 5.0% |
| INVG Grade (NAV) | B | na | na | na | na | na | na | na | na | na | na |
| +/- Category | 0.1% | na | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | 4.9% |
| Total Assets: | $ 24 Mil |
| Share Class Assets: | $ 24 Mil |
| Turnover: | 65.0% |
| Expense Ratio: | 0.25% |
| Index Fund: | No |
| Index Tracked: | N/A |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 1.2 years | |||
| Average Tenure: 1.2 years | |||
| Managers (Year): Ramachandran Rachna (2025), Donaldson James (2025) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 131 |
| % in Top 10 Holdings: | 10.2% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 14.8% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 84.5% |
| Foreign Bond: | 14.8% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.6% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | GMO |
| Phone Number: | 844-761-1102 |
| Website: | |
| Inception Date: | June 3, 2025 |
Expenses and Fees
| Expense Ratio (%): | 0.25% (Rating: Below Avg) |
| Category Average Expense Ratio (%): | 0.25% |
