Fund Evaluator:
GMO Multi-Asset Credit R6 (GMRQX)
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Best Performing in Multisector Bond Over the Last Year
| 7.1% | Morningstar Multisector Bond (MSTMX) |
| 6.0% | Fidelity Advisor Strategic Income Z (FIWDX) |
| 5.4% | Russell Inv Opportunistic Credit Y (RGCYX) |
| 5.4% | Russell Inv Opportunistic Credit M (RGOTX) |
| 5.2% | Payden Managed Income SI (PKBIX) |
Fund Details
GMO Multi-Asset Credit R6 Overview
GMO Multi-Asset Credit R6 (GMRQX) is an actively managed Taxable Bond Multisector Bond fund. GMO launched the fund in 2025.
The investment seeks total return and capital preservation. GMO seeks to achieve the fund’s investment objective by investing the fund’s assets in the sectors within the fixed income market that GMO believes offer the most attractive risk-adjusted returns. The fund is a fund of funds and invests primarily in other funds managed by GMO whether now existing or created in the future (“underlying GMO Funds”).
About GMO Multi-Asset Credit R6 (GMRQX)
There are 2 members of the management team with an average tenure of 1.35 years: Joe Auth (2024), Kevin Breaux (2025). Management tenure is more important for actively managed funds than passive index funds.
GMO Multi-Asset Credit R6 has 10 securities in its portfolio. The top 10 holdings constitute 101.5% 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 Multi-Asset Credit R6 is part of the Fixed Income global asset class and is within the Taxable Bond fund group. GMO Multi-Asset Credit R6 has 23.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 1.1%. 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 123.5% (100.2% domestic bond, 23.3% foreign bond and 0.0% convertible bond). GMO Multi-Asset Credit R6 has -29.1% of the portfolio in cash.
Assets Under Management
The fund has $2 million in total assets, which is below the $1 billion average for the Multisector 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.
GMRQX 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 Multi-Asset Credit R6 expense ratio is above average compared to funds in the Multisector Bond category. GMO Multi-Asset Credit R6 has an expense ratio of 0.61%, which is 35% 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 Multi-Asset Credit R6 has a portfolio turnover rate of 18%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 162% for the Multisector Bond category.
Recently, in the month of July 2026, GMO Multi-Asset Credit R6 returned -0.8%, which earned it a grade of C, as the Multisector Bond category had an average return of -0.7%. 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 Multi-Asset Credit R6 has a trailing yield of 0.00%, which is below the 5.31% category average. The fund normally distributes its income annually 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 Multi-Asset Credit R6 Grades
Year to date, the fund has returned 1.1%, 0.3 percentage points better than the category, which translates into a grade of B. The fund has returned 2.5% over the past year (grade of F).
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GMRQX 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 |
|
| GMRQX Return (NAV) | -0.8% | -0.1% | 2.5% | na | na | na |
| GMRQX Grade | C | C | F | na | na | na |
| +/- Category | -0.1% | -0.2% | -1.8% | na | na | na |
| Multisector Bond Avg | -0.7% | 0.0% | 4.3% | 6.3% | 2.4% | 3.5% |
| GMRQX Tax Cost Ratio | na | na | na | na | na | na |
GMRQX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| GMRQX Return (NAV) | 1.1% | na | na | na | na | na | na | na | na | na | na |
| GMRQX Grade | B | na | na | na | na | na | na | na | na | na | na |
| +/- Category | 0.3% | na | na | na | na | na | na | na | na | na | na |
| Multisector Bond Avg | 0.9% | 8.1% | 5.7% | 8.4% | -10.1% | 2.2% | 6.3% | 10.3% | -1.9% | 6.6% | 7.5% |
| Risk Measures | |
| Standard Deviation: | na |
| Total Risk Index: | na |
| Category Risk Index: | na |
| Category Risk Grade: | |
| Beta: | na |
| R-Squared: | na |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Limited Sensitivity |
| Yield: | -- |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $202 Mil |
| Fund Total Assets: | $ 2 Mil |
| Share Class Type: | Retirement |
| Portfolio Turnover: | 18% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 1.6 years | |||
| Average Tenure: 1.3 years | |||
| Managers (Year): Auth Joe (2024), Breaux Kevin (2025) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 10 |
| % in Top 10 Holdings: | 101.5% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 23.3% |
Portfolio Allocation |
|
| Domestic Stock: | 1.1% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 100.2% |
| Foreign Bond: | 23.3% |
| Convertible Bond: | 0.0% |
| Other: | 4.5% |
| Cash: | -29.1% |
Purchase Information
| Fund Family: | GMO |
| Phone Number: | 617-346-7646 |
| Website: | www.gmo.com |
| Status: | Open |
| Inception Date: | October 21, 2025 |
| Min. Initial Purchase: | $ 0 |
| 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 (%): | 0.61% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 0.94% |
| Share Class: | GMO Multi-Asset Credit IV |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
