GMOD vs TDSC

GMODAGMO Dynamic Allocation ETF

TDSCBETC Cabana Target Drawdown 10 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.

TDSC Most funds bury risk in the disclosures; this one puts it in the name. TDSC steers toward a 10% peak-to-trough drawdown target, with an algorithm rotating among stocks, bonds, real estate, currencies and commodities and cash as its hatch.

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.

TDSC The Fund seeks long-term growth while managing its portfolio toward a specified drawdown, or targeted downside-risk, parameter.

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.

• TDSC Risk is defined upfront: the mandate is long-term growth managed toward a 10% drawdown target, with drawdown measured on monthly returns from a rolling high-water mark.sec.govthecabanagroup.com
• 0.86% net of a waiver through August 31, 2027, which sits below the median fee in its tactical allocation category.
• Five asset classes, one dial: equities, bonds, real estate, currencies and commodities, with signals that can move the portfolio to cash or cash equivalents in sharp downturns.sec.gov
• Trading since 2020, so the algorithm has a live public record, not just a backtest.

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.

• TDSC The 10% figure is a target, not a floor. The prospectus states it may not be maintained, and losses can run past it.sec.gov
• Thinly traded next to big index funds, so spreads and order type matter more here.
• Fee ceiling: the gross rate is 0.97%, where the cost lands if the waiver lapses after August 31, 2027. Cheaper tactical options exist, such as ENDW at 0.22%.

Full GMOD profile⁠

Full TDSC profile⁠