The GDL Fund (GDL) belongs to the Event Driven category. Below you'll find alternative mutual funds from the same category, ranked by key criteria, plus funds that investors commonly compare with GDL. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to GDL
GDL charges 0.03% annually. No mutual funds in the Event Driven category have lower expense ratios; the lowest-cost alternatives shown here go as low as 0.79%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Gabelli ABC Fund | 0.79% | — | May 1993 | GDL vs GABCX | |
| Gabelli Enterprise Mergers and Acquisitions Fund | 1.01% | — | Feb 2001 | GDL vs EMAYX | |
| BlackRock Event Driven Equity Fund | 1.16% | — | Dec 2007 | GDL vs BILPX | |
| The Merger Fund Class I | 1.32% | — | Aug 2013 | GDL vs MERIX | |
| The Arbitrage Fund | 1.43% | — | Sep 2000 | GDL vs ARBFX |
Best Risk-Adjusted Alternatives to GDL
GDL has a PortfoliosLab risk / return rank of 51. There are 13 mutual funds in the Event Driven category with higher risk-adjusted ranks, going as high as 99.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| Vivaldi Merger Arbitrage Fund Class I | 99 | — | Oct 2015 | GDL vs VARBX | |
| NexPoint Merger Arbitrage Fund | 99 | — | Aug 2016 | GDL vs HMEZX | |
| The Merger Fund Class I | 98 | — | Aug 2013 | GDL vs MERIX | |
| The Merger Fund | 97 | — | Jan 1989 | GDL vs MERFX | |
| The Arbitrage Fund Class Institutional | 97 | — | Oct 2003 | GDL vs ARBNX |
Top Performing GDL Alternatives (YTD)
GDL is at 2.42% YTD. There are 8 mutual funds in the Event Driven category with higher YTD returns, going as high as 8.11%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Gabelli Enterprise Mergers and Acquisitions Fund | 8.11% | — | Feb 2001 | GDL vs EMAYX | |
| Water Island Event-Driven Fund | 4.38% | — | Sep 2010 | GDL vs AEDNX | |
| Gabelli ABC Fund | 3.59% | — | May 1993 | GDL vs GABCX | |
| Camelot Event-Driven Fund Institutional Class | 3.58% | — | Jun 2010 | GDL vs EVDIX | |
| Camelot Event Driven Fund Class A | 3.44% | — | Nov 2003 | GDL vs EVDAX |
Lowest Volatility Alternatives to GDL
GDL has 6.85% 1-year volatility. There are 15 mutual funds in the Event Driven category with lower 1-year volatility, going as low as 1.00%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Vivaldi Merger Arbitrage Fund Class I | 1.00% | — | Oct 2015 | GDL vs VARBX | |
| NexPoint Merger Arbitrage Fund | 1.25% | — | Aug 2016 | GDL vs HMEZX | |
| The Merger Fund Class I | 1.49% | — | Aug 2013 | GDL vs MERIX | |
| The Merger Fund | 1.54% | — | Jan 1989 | GDL vs MERFX | |
| Dunham Monthly Distribution Fund | 1.87% | — | Jul 2008 | GDL vs DAMDX |
Lowest Drawdown Alternatives to GDL
GDL has a 1-year max drawdown of -3.21%. There are 15 mutual funds in the Event Driven category with shallower 1-year drawdowns, going as shallow as -0.28%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Vivaldi Merger Arbitrage Fund Class I | -0.28% | — | Oct 2015 | GDL vs VARBX | |
| The Merger Fund Class I | -0.47% | — | Aug 2013 | GDL vs MERIX | |
| The Merger Fund | -0.52% | — | Jan 1989 | GDL vs MERFX | |
| NexPoint Merger Arbitrage Fund | -0.55% | — | Aug 2016 | GDL vs HMEZX | |
| The Arbitrage Fund | -0.88% | — | Sep 2000 | GDL vs ARBFX |
Other Mutual Funds from Gabelli
The 10 most viewed Gabelli mutual funds shown here include GOLDX, GABEX, GABSX and span 10 categories.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Gabelli Gold Fund | Gold, Precious Metals | 29 | -13.39% | — | Jul 1994 | GDL vs GOLDX | |
| Gabelli Equity Income Fund | Dividend, Large Cap Blend Equities | 11 | 11.95% | — | Jan 1992 | GDL vs GABEX | |
| Gabelli Small Cap Growth Fund | Small Cap Blend Equities | 40 | 13.92% | — | Oct 1991 | GDL vs GABSX | |
| Gabelli Utilities Fund | Utilities Equities | 33 | 8.13% | — | Aug 1999 | GDL vs GABUX | |
| Gabelli Asset Fund | Large Cap Blend Equities | 49 | 9.91% | — | Mar 1986 | GDL vs GABAX | |
| The Gabelli Equity Trust Inc | Large Cap Value Equities | 13 | -1.89% | — | Aug 1986 | GDL vs GAB | |
| The Gabelli Dividend and Income Trust | Dividend | 79 | 12.00% | — | Nov 2003 | GDL vs GDV | |
| Gabelli Growth Fund | Large Cap Growth Equities | 9 | 2.70% | — | Apr 1987 | GDL vs GABGX | |
| Gabelli Global Content & Connectivity Fund | Communications Equities | 56 | 11.76% | — | Oct 1993 | GDL vs GABTX | |
| Gabelli Value 25 Fund | Mid Cap Blend Equities | 78 | 9.64% | — | Sep 1989 | GDL vs GABVX |
Often Compared With GDL
Investors most often compare GDL with GDX, WCFRX, IAU. These 10 comparison targets span 7 categories, based on PortfoliosLab usage data.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| VanEck Gold Miners ETF | Gold, Precious Metals | 36 | -11.33% | 22.65B | May 2006 | GDL vs GDX | |
| Virtus Westchester Credit Event Fund | Event Driven | 30 | 0.92% | — | Dec 2017 | GDL vs WCFRX | |
| iShares Gold Trust | Gold, Precious Metals | 28 | -6.14% | 59.74B | Jan 2005 | GDL vs IAU | |
| WisdomTree Efficient Gold Plus Equity Strategy Fun... | Gold, Precious Metals | 42 | 0.83% | 433.45M | Mar 2022 | GDL vs GDE | |
| Gabelli Dividend Growth Fund | Large Cap Value Equities | 77 | 10.87% | — | Aug 1999 | GDL vs GABBX | |
| Gabelli Global Growth Fund | Global Equities | 13 | 3.94% | — | Feb 1994 | GDL vs GICPX | |
| Gabelli Focused Growth and Income Fund | Mid Cap Blend Equities | 25 | 4.53% | — | Dec 2002 | GDL vs GWSAX | |
| BlackRock Event Driven Equity Fund Investor Class ... | Event Driven | 81 | 2.84% | — | Dec 2007 | GDL vs BALPX | |
| Cohen & Steers Closed-End Opportunity Fund | Large Cap Value Equities | 24 | 7.58% | — | Nov 2006 | GDL vs FOF | |
| State Street Financial Select Sector SPDR ETF | Financials Equities | 32 | 5.67% | 57.61B | Dec 1998 | GDL vs XLF |
Compare GDL with Any Fund or Stock
Compare GDL with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair GDL with funds that move differently
The GDL Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to GDL.
Explore GDL Diversifiers