Morningstar

GMO Benchmark-Free Fund Class III GBFFX

Morningstar Medalist Rating
Medalist Rating as of | See GMO Investment Hub
  • NAV / 1-Day Return 24.06  /  −0.17 %
  • Total Assets 1.3B
  • Adj. Expense Ratio
    0.450%
  • Expense Ratio 0.280%
  • Distribution Fee Level Low
  • Share Class Type Institutional
  • Category Global Moderate Allocation
  • Investment Style Large Value
  • Credit Quality / Interest Rate Sensitivity —
  • Status Open
  • TTM Yield 4.67%
  • Turnover 106%

USD | NAV as of Jul 18, 2026 | 1-Day Return as of Jul 18, 2026, 12:11 AM GMT+0

Morningstar’s Analysis GBFFX

Will GBFFX outperform in the future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable GBFFX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the GBFFX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of GBFFX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Analyst Vedran Beogradlija

Vedran Beogradlija

Analyst

Summary

A consistent, if unconstrained, execution of valuation-driven investing. GMO Benchmark-Free Allocation stands apart from peers as a pure expression of the firm’s valuation-focused investment philosophy. An expert duo backed by robust resources shepherds the strategy, but the unconstrained approach can face unique challenges.

by Vedran Beogradlija
Rated on Published on

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Portfolio Holdings GBFFX

More GBFFX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 62.2
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Nomura Repo

14.67 190M
Cash and Equivalents

Asset Offset

13.95 181M
—

GMO Alternative Allocation VI

12.65 164M
—

5 Year Treasury Note Future June 26

11.99 155M
Government

10 Year Treasury Note Future June 26

6.73 87M
Government

2 Year Treasury Note Future June 26

6.06 78M
Government

United States Treasury Notes 3.78%

4.60 60M
Government

Ultra 10 Year US Treasury Note Future June 26

4.45 58M
Government

United States Treasury Notes 3.72%

4.26 55M
Government

United States Treasury Notes 3.78%

4.25 55M
Government

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