GMOD vs PWS

GMODAGMO Dynamic Allocation ETF

PWSBPacer WealthShield ETF

In short

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.

PWS A tactical fund that takes its cue from the junk-bond market. When high-yield credit and sector momentum turn, PWS rotates between U.S. equity sectors and Treasuries, then re-checks the tape every month.

Stated mandate

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

PWS The Fund uses a rules-based trend-following strategy to shift exposure between U.S. equity sectors and U.S. Treasury securities. Its monthly evaluations consider high-yield credit conditions, Treasury rates, and momentum in equity sectors and long-term Treasuries.

Why people hold it

• 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.

• PWS Rules run it, not hunches: monthly signals from high-yield credit, Treasury rates and sector momentum decide the mix. It has tracked its own index tightly.paceretfs.com
• 0.60% a year, under the median for tactical multi-asset funds, which is unusual for a strategy that rotates whole asset classes on a schedule.
• Live since 2017, so the record spans real drawdowns, not just a backtest. It pays quarterly and holds roughly 300 stocks when the equity side is on.
• Rated among the stronger implementations in its tactical peer group on ETF.net's review.

Worth knowing

• 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.

• PWS Small and thinly traded. Spreads can be wide and orders can move the price, so the trading experience differs from a mega-cap index fund.
• Trend rules can whipsaw. In choppy markets the fund may step out after a drop and step back in after a bounce, paying for the round trip.
• Cheaper tactical options exist: ENDW runs 0.22% and ONOF 0.39%, though neither uses the same credit-plus-momentum switch.

Full GMOD profile⁠

Full PWS profile⁠