GMO Systematic Investment Grade Credit ETF
INVG
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- GMO Systematic Investment Grade Credit ETF (INVG) is an actively managed exchange-traded fund that seeks total return by investing primarily in investment grade corporate bonds and related instruments using a systematic, quantitative approach developed by Grantham, Mayo, Van Otterloo & Co. LLC (GMO). The fund's portfolio includes U.S. dollar-denominated investment grade corporate debt securities across various sectors such as industrials, financials, utilities, and consumer goods; asset-backed securities; and commercial mortgage-backed securities, with allocations dynamically adjusted based on GMO's proprietary models incorporating factors like value, momentum, and credit fundamentals. INVG employs derivatives including credit default swaps, interest rate swaps, and futures to enhance returns, manage duration, and hedge risks, targeting an effective duration similar to the Bloomberg U.S. Corporate Investment Grade Index. Launched in 2023 and domiciled in the United States, the ETF is issued by GMO Trust and headquartered at GMO's main office in Boston, Massachusetts, with primary operations serving institutional and retail investors across North America through major brokerage platforms. GMO, founded in 1977, brings its expertise in systematic fixed income strategies to INVG, positioning it within the firm's broader ETF suite that also encompasses equity and multi-asset funds focused on value-oriented investing. The fund targets sophisticated investors seeking enhanced yields in investment grade credit without excessive credit risk, competing in the $1 trillion-plus U.S. corporate bond ETF market. In recent developments, GMO expanded its ETF offerings with the launch of INVG in mid-2023 as part of a strategic push into accessible systematic strategies amid rising demand for active fixed income amid volatile interest rates. No major acquisitions, partnerships, or reorganizations specific to INVG have been reported in the last two years; however, GMO has continued to refine its quantitative models incorporating machine learning enhancements for credit selection, reflecting broader firm-wide advancements in systematic investing. The ETF maintains a low expense ratio of approximately 0.35% and has seen steady assets under management growth to over $100 million by late 2025, underscoring GMO's commitment to scaling ETF distribution globally.