GMOD vs THMR

GMODAGMO Dynamic Allocation ETF

THMRCTHOR AdaptiveRisk Dynamic 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.

THMR A machine-learning-assisted tactical allocator that roams across stocks, bonds, commodities and alternatives, and is allowed to reach for leveraged ETFs when it wants more punch. Fully active, unconstrained, and priced like it.

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.

THMR The Fund seeks capital appreciation through an actively managed, risk-managed multi-strategy approach. It dynamically allocates among strategies investing in stocks, ETFs and leveraged ETFs across equities, fixed income, commodities and alternatives, using machine-learning-assisted allocation optimization.

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.

• THMR One ticker, many markets: the manager can shift among equities, fixed income, commodities and alternatives instead of riding a fixed blend.
• The toolkit includes leveraged ETFs, so exposure can be dialed up or down inside the fund rather than by you placing the trades.
• Actively managed with machine-learning-assisted allocation optimization, so there is no index to hug when the tape turns.

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.

• THMR Costs 1.10% a year, above the typical tactical multi-asset fund and well above top-ranked peers such as ENDW (0.22%) and ONOF (0.39%).
• A small asset base and light trading can mean wider spreads, which shows up most on large or hurried orders.
• A 2026 launch built for capital appreciation, not income, and leveraged ETF positions amplify moves in both directions.

Full GMOD profile⁠

Full THMR profile⁠