Fund Evaluator:
GMO Implementation (GIMFX)
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Best Performing in Miscellaneous Allocation Over the Last Year
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Fund Details
GMO Implementation Overview
GMO Implementation (GIMFX) is an actively managed Allocation Miscellaneous Allocation fund. GMO launched the fund in 2012.
The investment seeks positive total return, not relative return. The adviser seeks to achieve the fund’s investment objective by investing the fund’s assets in asset classes GMO believes offer the most attractive risk-adjusted returns. As an alternative to investing directly in securities, it may invest in exchange-traded and over-the-counter (OTC) derivatives (e.g., selling put options on securities) 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.
About GMO Implementation (GIMFX)
There are 2 members of the management team with an average tenure of 10.76 years: John Thorndike (2019), Ben Inker (2012). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: MSCI World NR USD index with a weighting of 100% and Bloomberg US Agg Bond TR USD index with a weighting of 100%. GMO Implementation has 1325 securities in its portfolio. The top 10 holdings constitute 63.1% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
GMO Implementation is part of the Allocation global asset class and is within the Allocation fund group. GMO Implementation has 53.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 8.4%. There is 52.6% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 62.1% (61.6% domestic bond, 0.5% foreign bond and 0.0% convertible bond). GMO Implementation has -23.6% of the portfolio in cash.
Assets Under Management
The fund has $2 billion in total assets, which is above the $676 million average for the Miscellaneous Allocation 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.
GIMFX 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 Implementation expense ratio is below average compared to funds in the Miscellaneous Allocation category. GMO Implementation has an expense ratio of 0.34%, which is 66% lower than its category average, making the fund expense ratio grade a A. 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 Implementation has a portfolio turnover rate of 131%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 18% for the Miscellaneous Allocation category.
Recently, in the month of July 2026, GMO Implementation returned 3.2%, which earned it a grade of A, as the Miscellaneous Allocation category had an average return of -0.2%. 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 funds in that category.
GMO Implementation has a trailing yield of 4.29%, which is above the 3.08% category average. The fund normally distributes its income semi-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 Implementation Grades
Year to date, the fund has returned 14.9%, 9.3 percentage points better than the category, which translates into a grade of A. The fund has returned 29.6% over the past year (grade of A), 16.6% over the past three years (grade of A) and 11.3% per year over the past five years (grade of A) and 7.4% per year over the past 10 years (grade of A).
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GIMFX 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 |
|
| GIMFX Return (NAV) | 3.2% | 5.3% | 29.6% | 16.6% | 11.3% | 7.4% |
| GIMFX Grade | A | A | A | A | A | A |
| +/- Category | 3.4% | 3.6% | 17.9% | 6.1% | 6.3% | 1.5% |
| Miscellaneous Allocation Avg | -0.2% | 1.7% | 11.6% | 10.6% | 5.1% | 5.9% |
| GIMFX Tax Cost Ratio | na | na | 1.9% | 2.2% | 1.9% | 1.6% |
GIMFX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| GIMFX Return (NAV) | 14.9% | 25.4% | 5.0% | 14.7% | -1.2% | 4.1% | -7.2% | 13.2% | -5.6% | 14.1% | 3.6% |
| GIMFX Grade | A | A | F | B | A | F | F | F | D | C | F |
| +/- Category | 9.3% | 11.6% | -4.6% | 2.6% | 13.0% | -8.4% | -14.5% | -4.4% | -1.6% | 2.2% | -3.6% |
| Miscellaneous Allocation Avg | 5.7% | 13.8% | 9.6% | 12.1% | -14.2% | 12.5% | 7.2% | 17.6% | -4.0% | 11.9% | 7.1% |
| Risk Measures | |
| Standard Deviation: | 8.2% |
| Total Risk Index: | 0.67 - Below Average |
| Category Risk Index: | 1.05 - Above Average |
| Category Risk Grade: | D (65% Rank) |
| Beta: | 0.62 |
| R-Squared: | 49% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Value |
| Bond Investment Style: | na |
| Yield: | 4.3% |
| Dividend Distribution: | Semi-Annually |
| Cap Gains Distribution: | |
| Total Assets: | $2381 Mil |
| Fund Total Assets: | $2,382 Mil |
| Share Class Type: | Other |
| Portfolio Turnover: | 131% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 14.4 years | |||
| Average Tenure: 10.8 years | |||
| Managers (Year): Inker Ben (2012), Thorndike John (2019) | |||
Portfolio Composition (as of 2/28/26)
| # of Holdings: | 1325 |
| % in Top 10 Holdings: | 63.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 53.1% |
Portfolio Allocation |
|
| Domestic Stock: | 8.4% |
| Foreign Stock: | 52.6% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 61.6% |
| Foreign Bond: | 0.5% |
| Convertible Bond: | 0.0% |
| Other: | 0.4% |
| Cash: | -23.6% |
Purchase Information
| Fund Family: | GMO |
| Phone Number: | 617-346-7646 |
| Website: | www.gmo.com |
| Status: | Open |
| Inception Date: | March 1, 2012 |
| Min. Initial Purchase: | $1,000,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.34% ( Rating : Below Avg ) |
| Category Average Expense Ratio (%): | 0.99% |
| Share Class: | GMO Implementation |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
