- ISIN
- US29372K5838
- CUSIP
- 29372K583
- Issuer
- Gabelli
- Inception Date
- Feb 27, 2001
- Category
- Event Driven
- Min. Investment
- $500,000
- Distribution Policy
- Distributing
- Asset Class
- Alternatives
Share Price Chart
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Performance
EMAYX Performance Chart
Gabelli Enterprise Mergers and Acquisitions Fund (EMAYX) is up 6.9% since the beginning of the year. EMAYX is currently trading at $20 per share. Investors who bought $1,000 worth of EMAYX shares 5 years ago would now be looking at an investment worth $1,323.
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Returns By Period
Gabelli Enterprise Mergers and Acquisitions Fund (EMAYX) has returned 6.87% so far this year and 21.03% over the past 12 months. Over the last ten years, EMAYX has returned 5.82% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
Gabelli Enterprise Mergers and Acquisitions Fund
- 1D
- -0.05%
- 1M
- -0.45%
- YTD
- 6.87%
- 6M
- 6.37%
- 1Y
- 21.03%
- 3Y*
- 12.10%
- 5Y*
- 5.76%
- 10Y*
- 5.82%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
EMAYX Monthly Returns History
Based on dividend-adjusted daily data since Feb 28, 2001, EMAYX's average daily return is +0.02%, while the average monthly return is +0.46%. At this rate, an investment would double in approximately 12.6 years.
Historically, 61% of months were positive and 39% were negative. The best month was Apr 2009 with a return of +11.4%, while the worst month was Oct 2008 at -16.2%. The longest winning streak lasted 12 consecutive months, and the longest losing streak was 5 months.
On a daily basis, EMAYX closed higher 50% of trading days. The best single day was Oct 13, 2008 with a return of +8.8%, while the worst single day was Mar 16, 2020 at -7.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 2.74% | 4.18% | -3.21% | 3.78% | 0.65% | -1.24% | 6.87% | ||||||
| 2025 | 2.06% | 0.43% | 0.91% | -1.27% | 2.39% | 4.48% | -0.11% | 4.92% | 1.47% | -0.97% | 3.58% | 1.67% | 21.17% |
| 2024 | -1.30% | -0.59% | 3.71% | -1.98% | 2.80% | -2.22% | 6.36% | -0.12% | 1.40% | -0.30% | 3.93% | -6.97% | 4.10% |
| 2023 | 4.68% | -1.09% | -1.61% | -0.92% | -3.78% | 5.10% | 2.56% | -0.13% | -3.90% | -3.06% | 4.26% | 4.36% | 5.96% |
| 2022 | -2.97% | -0.75% | 1.26% | -4.22% | 1.36% | -4.92% | 3.70% | -3.11% | -5.49% | 5.31% | 1.41% | -0.07% | -8.78% |
| 2021 | 0.75% | 3.21% | 1.26% | 3.13% | 1.38% | -0.90% | -0.51% | 1.32% | -1.98% | 1.21% | -1.77% | 2.50% | 9.83% |
Benchmark Metrics
Gabelli Enterprise Mergers and Acquisitions Fund has an annualized alpha of 1.13%, beta of 0.51, and R2 of 0.72 versus S&P 500 Index. Calculated based on daily prices since February 28, 2001.
- This fund participated in 53.72% of S&P 500 Index downside but only 50.06% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.51 indicates this fund moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 1.13%
- Beta
- 0.51
- R²
- 0.72
- Upside Capture
- 50.06%
- Downside Capture
- 53.72%
Expense Ratio
EMAYX has a high expense ratio of 1.01%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
EMAYX ranks 75 for risk / return — better than 75% of mutual funds on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Gabelli Enterprise Mergers and Acquisitions Fund (EMAYX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| EMAYX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.22 | ||
| Sortino ratioReturn per unit of downside risk | +0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.37 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.71 | 2.78 | +0.93 |
| Martin ratioReturn relative to average drawdown | 14.92 | 12.44 | +2.48 |
Dividends
Dividend History
Gabelli Enterprise Mergers and Acquisitions Fund provided a 3.94% dividend yield over the last twelve months, with an annual payout of $0.78 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.78 | $0.78 | $0.00 | $0.46 | $0.12 | $1.13 | $0.04 | $0.28 | $0.80 | $0.19 |
Dividend yield | 3.94% | 4.21% | 0.00% | 3.00% | 0.80% | 6.84% | 0.24% | 1.80% | 5.52% | 1.24% |
Monthly Dividends
The table displays the monthly dividend distributions for Gabelli Enterprise Mergers and Acquisitions Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.78 | $0.78 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.46 | $0.46 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.12 | $0.12 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.13 | $1.13 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Gabelli Enterprise Mergers and Acquisitions Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Gabelli Enterprise Mergers and Acquisitions Fund was 47.93%, occurring on Mar 5, 2009. Recovery took 886 trading sessions.
The current Gabelli Enterprise Mergers and Acquisitions Fund drawdown is 1.92%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -47.93%Mar 2009 | 1y 7mo | 3y 6mo | 5y 1moJul 2007 - Sep 2012 |
COVID crash2020 | -24.90%Mar 2020 | 26d | 8mo 3d | 8mo 29dFeb 2020 - Nov 2020 |
Bear market2022 | -15.95%Sep 2022 | 10mo 16d | 1y 9mo | 2y 8moNov 2021 - Jul 2024 |
2025 selloff2025 | -12.32%Apr 2025 | 4mo 4d | 2mo 16d | 6mo 20dDec 2024 - Jun 2025 |
Dot-com crash2000–2002 | -11.30%Oct 2002 | 1y 2mo | 7mo 28d | 1y 10moAug 2001 - Jun 2003 |
Drawdown Indicators
| EMAYX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.93% | -56.78% | +8.85% |
Max Drawdown (1Y)Largest decline over 1 year | -5.82% | -9.10% | +3.28% |
Max Drawdown (3Y)Largest decline over 3 years | -12.32% | -18.90% | +6.58% |
Max Drawdown (5Y)Largest decline over 5 years | -15.95% | -25.43% | +9.48% |
Max Drawdown (10Y)Largest decline over 10 years | -24.90% | -33.92% | +9.02% |
Current DrawdownCurrent decline from peak | -1.92% | -1.80% | -0.12% |
Average DrawdownAverage peak-to-trough decline | -4.47% | -10.71% | +6.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.45% | 2.03% | -0.58% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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