Overview

The GMO U.S. Small Cap Value Fund seeks to generate total return in excess of its benchmark, the S&P Small Cap 600 Value Index, by investing primarily in equities of U.S. companies that are included in the S&P 600 Index or whose market capitalization at the time of investment is less than that of the 1000 largest publicly held companies.

The Fund’s investment approach is grounded in the Global Equity team’s belief that, in the short term, equity markets exhibit exploitable inefficiencies as a result of irrational investor actions, the imperfect flow of information, and the participation of non-economic actors, while in the long term returns are ultimately driven by economic reality. The Fund aims to take advantage of this inefficiency by utilizing a multi-factor valuation model in conjunction with other methods, such as cross-asset signals and corporate alerts, to identify mispriced equity securities.

Facts

Doc Table
Fund Inception Date July 2, 2019
Fund Total Assets as of 30/09/2020 $406mm USD
Benchmark S&P 600 Value

Share Class VI

Inception Date July 2, 2019
Ticker Symbol GCAVX
CUSIP 36256V874
NAV as of 28/10/2020 17.61
Net Expense Ratio 1 0.44
Gross Expense Ratio 2 0.44
Minimum Investment Size $300mm in Fund / $750mm in GMO

1 Net Expense Ratio reflects the reduction of expenses from fee reimbursements. The fee reimbursements will continue until at least June 30, 2021. Elimination of this reimbursement will result in higher fees and lower performance.

2 Gross Expense Ratio is equal to the Funds Total Annual Operating Expenses set forth in the Funds most recent prospectus dated June 30, 2020.

Performance

Quarter-End as of September 30, 2020(USD, %)

Table Caption
1-Year ITD
U.S. Small Cap Value Fund -13.04 -10.34
S&P 600 Value -16.86 -12.28
Russell 2000 Value -14.88 -12.12
  • U.S. Small Cap Value Fund 1
  • S&P 600 Value
  • Russell 2000 Value

Inception Date: July 02, 2019

Returns shown for periods greater than one year are on an annualized basis.

If certain expenses were not reimbursed, performance would be lower. Transaction costs, if any, are paid to the fund to offset the cost of portfolio transactions to invest or raise cash.

Performance data quoted represents past performance and is not indicative of future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance data may be lower or higher than the performance data provided herein.

1 As of April 1, 2020, the U.S. Small Cap Value Fund changed its benchmark so that the Fund now seeks to generate total return in excess of that of the S&P SmallCap 600 Value Index. The Fund formerly sought to outperform the Russell 2000 Value Index.

Quarter-End as of September 30, 2020(USD, %)

Table Caption
QTD YTD 1-Year ITD
U.S. Small Cap Value Fund 5.47 -19.65 -13.04 -10.34
S&P 600 Value 2.09 -22.88 -16.86 -12.28
Russell 2000 Value 2.56 -21.54 -14.88 -12.12
  • U.S. Small Cap Value Fund 1
  • S&P 600 Value
  • Russell 2000 Value

Inception Date: July 02, 2019

Returns shown for periods greater than one year are on an annualized basis.

Net of all fees and expenses after reimbursement by the Manager, but not transaction costs, if any. If certain expenses were not reimbursed, performance would be lower.

Performance data quoted represents past performance and is not indicative of future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance data may be lower or higher than the performance data provided herein.

1 As of April 1, 2020, the U.S. Small Cap Value Fund changed its benchmark so that the Fund now seeks to generate total return in excess of that of the S&P SmallCap 600 Value Index. The Fund formerly sought to outperform the Russell 2000 Value Index.

Quarter-End as of September 30, 2020(USD, %)

Table Caption
QTD YTD 1-Year ITD
U.S. Small Cap Value Fund 5.58 -19.39 -12.67 -9.95
S&P 600 Value 2.09 -22.88 -16.86 -12.28
Russell 2000 Value 2.56 -21.54 -14.88 -12.12
  • U.S. Small Cap Value Fund 1
  • S&P 600 Value
  • Russell 2000 Value

Inception Date: July 02, 2019

Returns shown for periods greater than one year are on an annualized basis.

Gross of fees, expenses and transaction costs, if any. If these fees, expenses and costs were included, performance would be lower.

Performance data quoted represents past performance and is not indicative of future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance data may be lower or higher than the performance data provided herein.

1 As of April 1, 2020, the U.S. Small Cap Value Fund changed its benchmark so that the Fund now seeks to generate total return in excess of that of the S&P SmallCap 600 Value Index. The Fund formerly sought to outperform the Russell 2000 Value Index.

Month-End as of September 30, 2020(USD, %)

Table Caption
MTD QTD YTD 1-Year ITD
U.S. Small Cap Value Fund -3.63 5.47 -19.65 -13.04 -10.34
S&P 600 Value -5.27 2.09 -22.88 -16.86 -12.28
Russell 2000 Value -4.65 2.56 -21.54 -14.88 -12.12
  • U.S. Small Cap Value Fund 1
  • S&P 600 Value
  • Russell 2000 Value

Inception Date: July 02, 2019

Returns shown for periods greater than one year are on an annualized basis.

Net of all fees and expenses after reimbursement by the Manager, but not transaction costs, if any. If certain expenses were not reimbursed, performance would be lower.

Performance data quoted represents past performance and is not indicative of future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance data may be lower or higher than the performance data provided herein.

1 As of April 1, 2020, the U.S. Small Cap Value Fund changed its benchmark so that the Fund now seeks to generate total return in excess of that of the S&P SmallCap 600 Value Index. The Fund formerly sought to outperform the Russell 2000 Value Index.

Month-End as of September 30, 2020(USD, %)

Table Caption
MTD QTD YTD 1-Year ITD
U.S. Small Cap Value Fund -3.59 5.58 -19.39 -12.67 -9.95
S&P 600 Value -5.27 2.09 -22.88 -16.86 -12.28
Russell 2000 Value -4.65 2.56 -21.54 -14.88 -12.12
  • U.S. Small Cap Value Fund 1
  • S&P 600 Value
  • Russell 2000 Value

Inception Date: July 02, 2019

Returns shown for periods greater than one year are on an annualized basis.

Gross of fees, expenses and transaction costs, if any. If these fees, expenses and costs were included, performance would be lower.

Performance data quoted represents past performance and is not indicative of future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance data may be lower or higher than the performance data provided herein.

1 As of April 1, 2020, the U.S. Small Cap Value Fund changed its benchmark so that the Fund now seeks to generate total return in excess of that of the S&P SmallCap 600 Value Index. The Fund formerly sought to outperform the Russell 2000 Value Index.

Year Ending December 31 (USD, %)

Calendar
U.S. Small Cap Value Fund S&P 600 Value Russell 2000 Value
2019 8.60 10.10 8.47
  • U.S. Small Cap Value Fund 1
  • S&P 600 Value
  • Russell 2000 Value

Inception Date: July 02, 2019

Returns shown for periods greater than one year are on an annualized basis.

Net of all fees and expenses after reimbursement by the Manager, but not transaction costs, if any. If certain expenses were not reimbursed, performance would be lower.

Performance data quoted represents past performance and is not indicative of future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance data may be lower or higher than the performance data provided herein.

1 As of April 1, 2020, the U.S. Small Cap Value Fund changed its benchmark so that the Fund now seeks to generate total return in excess of that of the S&P SmallCap 600 Value Index. The Fund formerly sought to outperform the Russell 2000 Value Index.

Year Ending December 31 (USD, %)

Calendar
U.S. Small Cap Value Fund S&P 600 Value Russell 2000 Value
2019 8.84 10.10 8.47
  • U.S. Small Cap Value Fund 1
  • S&P 600 Value
  • Russell 2000 Value

Inception Date: July 02, 2019

Returns shown for periods greater than one year are on an annualized basis.

Gross of fees, expenses and transaction costs, if any. If these fees, expenses and costs were included, performance would be lower.

Performance data quoted represents past performance and is not indicative of future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance data may be lower or higher than the performance data provided herein.

1 As of April 1, 2020, the U.S. Small Cap Value Fund changed its benchmark so that the Fund now seeks to generate total return in excess of that of the S&P SmallCap 600 Value Index. The Fund formerly sought to outperform the Russell 2000 Value Index.

Documents

Literature

Fact Sheet Download
Prospectus Download
Summary Prospectus Download
Statement of Additional Information Download
XBRL 485(b) Download
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Downloads

Performance Download
Portfolio Composition Download
Holdings Download
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Commentary & Attribution

Commentary - Quarterly Download
Market Review Download
Attribution - Monthly Download
Attribution - Quarterly Download
Attribution - YTD Download
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Investor Information

NAVs and Distributions Download
Distribution Dates Download
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Risks

Risks associated with investing in the Fund may include those as follows. (1) Market Risk – Equities – The market price of an equity may decline due to factors affecting the issuer or its industry or the economy and equity markets generally. (2) Management and Operational Risk: The risk that GMO's investment techniques will fail to produce desired results. (3) Small Company Risk – Smaller companies may have limited product lines, markets, or financial resources, lack the competitive strength of larger companies, have inexperienced managers or depend on a few key employees. The securities of companies with smaller market capitalizations often are less widely held and trade less frequently and in lesser quantities, and their market prices often fluctuate more, than the securities of companies with larger market capitalizations. For a more complete discussion of these risks and others, please consult the Fund's prospectus.

Disclosures

An investor should consider the fund’s investment objectives, risks, charges and expenses before investing. This and other important information can be found in the fund’s prospectus. Read the prospectus carefully before investing. Please see prospectus above.

The GMO Trust funds are distributed in the United States by Funds Distributor LLC. GMO and Funds Distributor LLC are not affiliated.