Fund Evaluator:
GMO Emerging Country Debt VI (GMOQX)
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Best Performing in Emerging Markets Bond Over the Last Year
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| 14.6% | Artisan Emerging Markets Debt Opp Inv (APFOX) |
| 10.8% | TCW Emerging Markets Income N (TGINX) |
| 10.7% | Fidelity New Markets Income (FNMIX) |
| 10.7% | Fidelity Advisor New Markets Income Z (FGBMX) |
Fund Details
GMO Emerging Country Debt VI Overview
GMO Emerging Country Debt VI (GMOQX) is an actively managed Taxable Bond Emerging Markets Bond fund. GMO launched the fund in 2021.
The investment seeks total return in excess of that of its benchmark, the J.P. Morgan EMBI Global Diversified. The fund seeks its investment objective by investing primarily in debt of emerging country sovereign, quasi-sovereign, and corporate issuers and in emerging country credit, currency, and interest rate derivatives. The adviser uses fundamental analytical techniques to select country credit, corporate credit, currency, interest-rate, and individual bond and derivative instruments.
About GMO Emerging Country Debt VI (GMOQX)
There are 1 members of the management team with an average tenure of 10.84 years: Tina Vandersteel (2015). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: JPM EMBI Global Diversified TR USD index with a weighting of 100%. GMO Emerging Country Debt VI has 278 securities in its portfolio. The top 10 holdings constitute 27.5% 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 Emerging Country Debt VI is part of the Fixed Income global asset class and is within the Taxable Bond fund group. GMO Emerging Country Debt VI has 86.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 9.2%. 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 91.4% (4.4% domestic bond, 86.9% foreign bond and 0.0% convertible bond). GMO Emerging Country Debt VI has 1.4% of the portfolio in cash.
Assets Under Management
The fund has $116 million in total assets, which is below the $325 million average for the Emerging Markets 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.
GMOQX 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 Emerging Country Debt VI expense ratio is average compared to funds in the Emerging Markets Bond category. GMO Emerging Country Debt VI has an expense ratio of 0.53%, which is 48% 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 Emerging Country Debt VI has a portfolio turnover rate of 41%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 83% for the Emerging Markets Bond category.
Recently, in the month of July 2026, GMO Emerging Country Debt VI returned -1.1%, which earned it a grade of C, as the Emerging Markets Bond category had an average return of -0.9%. 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 Emerging Country Debt VI has a trailing yield of 4.57%, which is below the 5.99% 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 Emerging Country Debt VI Grades
Year to date, the fund has returned 8.3%, 5.8 percentage points better than the category, which translates into a grade of A. The fund has returned 19.7% over the past year (grade of A), 17.5% over the past three years (grade of A) and 7.7% per year over the past five years (grade of A) and 6.6% per year over the past 10 years (grade of A).
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GMOQX 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 |
|
| GMOQX Return (NAV) | -1.1% | 1.5% | 19.7% | 17.5% | 7.7% | 6.6% |
| GMOQX Grade | C | A | A | A | A | A |
| +/- Category | -0.3% | 0.9% | 10.7% | 8.4% | 5.0% | 3.0% |
| Emerging Markets Bond Avg | -0.9% | 0.6% | 9.0% | 9.1% | 2.8% | 3.6% |
| GMOQX Tax Cost Ratio | na | na | 1.9% | 3.0% | 3.4% | na |
GMOQX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| GMOQX Return (NAV) | 8.3% | 22.5% | 13.5% | 17.8% | -16.3% | -1.2% | 7.2% | 14.3% | -5.9% | 12.5% | 13.9% |
| GMOQX Grade | A | A | A | A | D | A | B | B | C | B | B |
| +/- Category | 5.8% | 8.6% | 7.1% | 6.2% | -1.4% | 1.7% | 1.7% | 1.1% | -0.5% | 1.3% | 2.0% |
| Emerging Markets Bond Avg | 2.5% | 13.8% | 6.4% | 11.6% | -14.9% | -2.9% | 5.5% | 13.1% | -5.4% | 11.2% | 11.9% |
| Risk Measures | |
| Standard Deviation: | 7.2% |
| Total Risk Index: | 0.58 - Below Average |
| Category Risk Index: | 1.14 - High |
| Category Risk Grade: | F (91% Rank) |
| Beta: | 0.92 |
| R-Squared: | 52% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | na |
| Yield: | 4.6% |
| Dividend Distribution: | Semi-Annually |
| Cap Gains Distribution: | |
| Total Assets: | $2149 Mil |
| Fund Total Assets: | $ 117 Mil |
| Share Class Type: | Other |
| Portfolio Turnover: | 41% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 10.8 years | |||
| Average Tenure: 10.8 years | |||
| Managers (Year): Vandersteel Tina (2015) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 278 |
| % in Top 10 Holdings: | 27.5% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 86.9% |
Portfolio Allocation |
|
| Domestic Stock: | 9.2% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 4.4% |
| Foreign Bond: | 86.9% |
| Convertible Bond: | 0.0% |
| Other: | -1.9% |
| Cash: | 1.4% |
Purchase Information
| Fund Family: | GMO |
| Phone Number: | 617-346-7646 |
| Website: | www.gmo.com |
| Status: | Open |
| Inception Date: | July 29, 2021 |
| Min. Initial Purchase: | $300,000,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.75% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.53% ( Rating : Avg ) |
| Category Average Expense Ratio (%): | 1.01% |
| Share Class: | GMO Emerging Country Debt III |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
