BDGS vs GMOD

BDGSBBridges Capital Tactical ETF

GMODAGMO Dynamic Allocation ETF

In short

BDGS A tactical fund that publishes its dial settings: roughly 75% index ETFs and 5% cash in risk-on mode, roughly 80% cash in risk-off mode, plus a standing sleeve of about 10 large-cap stocks. 0.87%, no waiver.

GMOD GMO's 7-year asset class forecasts, finally wrapped in an ETF. It tilts toward what the firm's valuation models call cheap and away from what they call expensive, shifting between stocks, bonds and alternatives inside one ticker.

Stated mandate

BDGS The Fund is an actively managed, diversified ETF investing in a mix of U.S. equity index ETFs, large-capitalization stocks, and cash or cash equivalents. Its allocation and rebalancing respond to macroeconomic conditions, market breadth, and volatility.

GMOD The Fund seeks positive total return. It allocates among asset classes using GMO's multi-year return forecasts and relative-risk assessments.

Why people hold it

• BDGS The playbook sits in the prospectus: about 75% index ETFs and 5% cash when the macro read is risk-on, about 80% cash and 20% stocks when it is not. Unusually specific.sec.gov
• The macro call shifts less than once a year by design. Rebalancing happens inside that gear: roughly twice a month in defensive stretches, about six times a year when bullish.sec.govsec.gov 2
• The stock sleeve is roughly 10 large-cap names held for the long haul, sold when a company drops out of its index's top 10 or the manager sees a risk to the long-term story.sec.gov
• 0.87% with no fee waiver, near what tactical-allocation funds typically charge. Cheaper shelves exist in the group, like ENDW at 0.22%. Rates in the upper half of its peer group.

• GMOD 0.50% all-in, about half the typical fee in its tactical-allocation peer group, and a contractual waiver offsets the fees of the GMO funds it holds so costs are not stacked.sec.gov
• GMO's first multi-asset strategy in an ETF, run by the asset allocation team behind the firm's long-running 7-year asset class forecasts.gmo.com
• The equity dial can swing between 40% and 80% of assets under normal conditions, so the fund handles the reallocating rather than you selling positions to do it.gmo.com
• Sits in the upper tier of a crowded tactical multi-asset group on cost and process clarity.

Worth knowing

• BDGS A small fund whose shares trade lightly, so spreads can run wider than on mega-cap index ETFs and bigger orders can move the price.
• Turnover is high by design. The prospectus notes that can mean higher transaction costs and, in taxable accounts, higher taxes.sec.gov
• Listed in 2023, so the live record is short, and the prospectus flags that cash-heavy stretches can trail the benchmark in a rising market.etfarchitect.com

• GMOD New in 2025 and lightly traded so far, which can mean wider bid-ask spreads than the big allocation ETFs.
• It owns other GMO funds, and the single 0.50% rate leans on a contractual waiver with an expiration date rather than a permanent cap.sec.gov
• Cheaper tactical allocators exist (ENDW at 0.22%, ONOF at 0.39%), though each runs a different process.

Full BDGS profile⁠

Full GMOD profile⁠