Morningstar

GMO Benchmark-Free Allocation Fund Class IV GBMBX

Morningstar Medalist Rating
Medalist Rating as of | See GMO Investment Hub
  • NAV / 1-Day Return 33.52  /  −0.18 %
  • Total Assets 2.6B
  • Adj. Expense Ratio
    1.300%
  • Expense Ratio 0.620%
  • Distribution Fee Level Above Average
  • Share Class Type Institutional
  • Category Global Moderate Allocation
  • Investment Style Large Value
  • Credit Quality / Interest Rate Sensitivity High/Limited
  • Status Open
  • TTM Yield 3.86%
  • Turnover 11%

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

Morningstar’s Analysis GBMBX

Will GBMBX 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 GBMBX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the GBMBX 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 GBMBX’s parent organization’s priorities and whether they’re in line with investors’ interests.

A consistent, if unconstrained, execution of valuation-driven investing.

Analyst Vedran Beogradlija

Vedran Beogradlija

Analyst

Summary

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 GBMBX

More GBMBX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 48.1
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Us 2yr Note (Cbt)

34.11 838M
Government

Contra Derivatives - Swaps

22.99 565M
—

Us 5yr Note (Cbt)

13.46 331M
Government

United States Treasury Notes 3.77%

12.01 295M
Government

10 Year Treasury Note Future June 26

7.57 186M
Government

United States Treasury Notes 3.86%

5.89 145M
Government

Ultra 10 Year US Treasury Note Future June 26

4.95 122M
Government

United States Treasury Notes 3.83%

4.86 119M
Government

Future on TOPIX

−3.58 −88M
—

Contra Derivatives - Futures

−54.21 −1B
—

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