ARKX vs. GCAD

Last updated Jun 24, 2026

ARKX (ARK Space Exploration & Innovation ETF) and GCAD (Gabelli Commercial Aerospace & Defense ETF) are both Aerospace & Defense funds. Both are actively managed. Over the past 3 years, ARKX returned 32.05%/yr vs 34.17%/yr for GCAD. A 0.73 correlation means they provide meaningful diversification when combined. ARKX charges 0.75%/yr vs 0.00%/yr for GCAD.

Performance

ARKX vs. GCAD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ARK Space Exploration & Innovation ETF (ARKX) and Gabelli Commercial Aerospace & Defense ETF (GCAD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ARKX achieves a 13.18% return, which is significantly lower than GCAD's 17.90% return.

ARKX

• 1D: -1.68%
• 1M: -7.40%
• YTD: 13.18%
• 6M: 8.86%
• 1Y: 46.62%
• 3Y*: 32.05%
• 5Y*: 9.28%
• 10Y*: —

GCAD

• 1D: -0.80%
• 1M: 4.43%
• YTD: 17.90%
• 6M: 15.75%
• 1Y: 37.12%
• 3Y*: 34.17%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ARKX vs. GCAD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
ARKX ARK Space Exploration & Innovation ETF	13.18%	48.46%	26.67%	24.78%
GCAD Gabelli Commercial Aerospace & Defense ETF	17.90%	39.28%	26.61%	17.37%

Correlation

The correlation between ARKX and GCAD is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (All Time) Calculated using the full available price history since Jan 4, 2023	0.73

The correlation between ARKX and GCAD has been stable across timeframes, ranging from 0.73 to 0.79 - a consistent structural relationship.

ARKX vs. GCAD - Sectors Allocation Comparison

Sectors	ARKX	GCAD
Industrials	56.2%	77.7%
Technology	27.0%	2.9%
Communication Services	7.6%	-
Consumer Cyclical	7.5%	6.6%
Healthcare	1.7%	-
Basic Materials	0.0%	0.7%
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Real Estate	-	0.6%
Utilities	-	-

Return for Risk

ARKX vs. GCAD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ARKX

ARKX Risk / Return Rank: 40
ARKX Sharpe Ratio Rank: 41
ARKX Sortino Ratio Rank: 39
ARKX Omega Ratio Rank: 35
ARKX Calmar Ratio Rank: 48
ARKX Martin Ratio Rank: 39

GCAD

GCAD Risk / Return Rank: 57
GCAD Sharpe Ratio Rank: 59
GCAD Sortino Ratio Rank: 65
GCAD Omega Ratio Rank: 56
GCAD Calmar Ratio Rank: 54
GCAD Martin Ratio Rank: 53

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ARKX vs. GCAD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ARK Space Exploration & Innovation ETF (ARKX) and Gabelli Commercial Aerospace & Defense ETF (GCAD). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

	ARKX	GCAD	Difference
Sharpe ratio: Return per unit of total volatility	1.38	1.83	-0.45
Sortino ratio: Return per unit of downside risk	1.94	2.76	-0.82
Omega ratio: Gain probability vs. loss probability	1.23	1.32	-0.10
Calmar ratio: Return relative to maximum drawdown	2.29	2.49	-0.20
Martin ratio: Return relative to average drawdown	5.93	8.52	-2.58

ARKX vs. GCAD - Sharpe Ratio Comparison

The current ARKX Sharpe Ratio is 1.38, which is comparable to the GCAD Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of ARKX and GCAD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ARKX vs. GCAD - Drawdown Comparison

The maximum ARKX drawdown since its inception was -43.61%, which is greater than GCAD's maximum drawdown of -16.14%. Use the drawdown chart below to compare losses from any high point for ARKX and GCAD.

Drawdown Indicators

	ARKX	GCAD	Difference
Max Drawdown Largest peak-to-trough decline	-43.61%	-16.14%	-27.47%
Max Drawdown (1Y) Largest decline over 1 year	-20.42%	-14.96%	-5.46%
Max Drawdown (3Y) Largest decline over 3 years	-25.47%	-16.14%	-9.33%
Max Drawdown (5Y) Largest decline over 5 years	-43.61%	—	—
Current Drawdown Current decline from peak	-13.09%	-2.79%	-10.30%
Average Drawdown Average peak-to-trough decline	-19.87%	-3.01%	-16.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.88%	4.37%	+3.51%

Volatility

ARKX vs. GCAD - Volatility Comparison

ARK Space Exploration & Innovation ETF (ARKX) has a higher volatility of 13.12% compared to Gabelli Commercial Aerospace & Defense ETF (GCAD) at 8.50%. This indicates that ARKX's price experiences larger fluctuations and is considered to be riskier than GCAD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ARKX	GCAD	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.12%	8.50%	+4.62%
Volatility (6M) Calculated over the trailing 6-month period	26.61%	17.61%	+9.00%
Volatility (1Y) Calculated over the trailing 1-year period	33.88%	20.36%	+13.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.15%	18.76%	+9.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.71%	18.76%	+8.95%

ARKX vs. GCAD - Expense Ratio Comparison

ARKX has a 0.75% expense ratio, which is higher than GCAD's 0.00% expense ratio.

Dividends

ARKX vs. GCAD - Dividend Comparison

ARKX has not paid dividends to shareholders, while GCAD's dividend yield for the trailing twelve months is around 1.75%.

Position	TTM	2025	2024	2023
ARKX ARK Space Exploration & Innovation ETF	0.00%	0.00%	0.00%	0.00%
GCAD Gabelli Commercial Aerospace & Defense ETF	1.75%	2.06%	4.94%	3.62%

Frequently Asked Questions

Can I hold both ARKX and GCAD in my portfolio?

ARKX and GCAD have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ARKX or GCAD?

ARKX has higher volatility (13.12%) compared to GCAD (8.50%). In terms of maximum drawdown, ARKX dropped -43.61% vs GCAD's -16.14%.

Which ETF is better, ARKX or GCAD?

On 3-year performance, GCAD leads with 34.17% vs 32.05% for ARKX. On fees, GCAD is cheaper at 0.00% per year. On volatility, GCAD has been the lower-risk option at 8.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ARKX or GCAD?

Over the 3-year period, GCAD has performed better with a 34.17% return vs 32.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ARKX or GCAD?

GCAD is cheaper with a 0.00% expense ratio, compared with 0.75% for ARKX.

Which ETF pays a higher dividend yield, ARKX or GCAD?

GCAD has the higher dividend yield at 1.75%, compared with 0.00% for ARKX.

What is the main difference between ARKX and GCAD?

They also come from different issuers: ARK and Gabelli. Their fees differ too: 0.75% for ARKX and 0.00% for GCAD.

Which has better risk-adjusted returns?

GCAD currently has the higher Sharpe Ratio (1.83 vs 1.38), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.