ARMY vs. GCAD

Last updated Jun 4, 2026

ARMY (HANetf Future of European Defence Screened UCITS ETF) and GCAD (Gabelli Commercial Aerospace & Defense ETF) are both Aerospace & Defense funds. ARMY is passively managed, while GCAD is actively managed. Their correlation of 0.83 suggests significant overlap in exposure. ARMY charges 0.39%/yr vs 0.00%/yr for GCAD.

Performance

ARMY vs. GCAD - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in HANetf Future of European Defence Screened UCITS ETF (ARMY) and Gabelli Commercial Aerospace & Defense ETF (GCAD). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

ARMY is traded in EUR, while GCAD is traded in USD. To make them comparable, the GCAD values have been converted to EUR using the latest available exchange rates.

Returns By Period

ARMY

• 1D: -2.48%
• 1M: -0.63%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GCAD

• 1D: -1.35%
• 1M: 6.04%
• YTD: 15.45%
• 6M: 19.82%
• 1Y: 32.82%
• 3Y*: 29.73%
• 5Y*: —
• 10Y*: —

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

ARMY vs. GCAD - Yearly Performance Comparison

	2026 (YTD)
ARMY HANetf Future of European Defence Screened UCITS ETF	-2.38%
GCAD Gabelli Commercial Aerospace & Defense ETF	6.03%

Correlation

The correlation between ARMY and GCAD is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 1, 2026	0.83

Return for Risk

ARMY vs. GCAD — Risk / Return Rank

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

GCAD

GCAD Risk / Return Rank: 52
GCAD Sharpe Ratio Rank: 54
GCAD Sortino Ratio Rank: 57
GCAD Omega Ratio Rank: 52
GCAD Calmar Ratio Rank: 48
GCAD Martin Ratio Rank: 49

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.

ARMY vs. GCAD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HANetf Future of European Defence Screened UCITS ETF (ARMY) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	ARMY	GCAD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.73	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.40	1.33	-1.73

Drawdowns

ARMY vs. GCAD - Drawdown Comparison

The maximum ARMY drawdown since its inception was -13.11%, smaller than the maximum GCAD drawdown of -20.22%. Use the drawdown chart below to compare losses from any high point for ARMY and GCAD.

Drawdown Indicators

	ARMY	GCAD	Difference
Max Drawdown Largest peak-to-trough decline	-13.11%	-20.22%	+7.11%
Max Drawdown (1Y) Largest decline over 1 year	—	-13.27%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-20.22%	—
Current Drawdown Current decline from peak	-8.65%	-5.25%	-3.40%
Average Drawdown Average peak-to-trough decline	-5.34%	-3.42%	-1.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.32%	—

Volatility

Volatility by Period

	ARMY	GCAD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.50%	—
Volatility (6M) Calculated over the trailing 6-month period	—	15.66%	—
Volatility (1Y) Calculated over the trailing 1-year period	32.70%	19.09%	+13.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.70%	19.23%	+13.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.70%	19.23%	+13.47%

ARMY vs. GCAD - Expense Ratio Comparison

ARMY has a 0.39% expense ratio, which is higher than GCAD's 0.00% expense ratio.

Dividends

ARMY vs. GCAD - Dividend Comparison

ARMY has not paid dividends to shareholders, while GCAD's dividend yield for the trailing twelve months is around 1.81%.

Position	TTM	2025	2024	2023
ARMY HANetf Future of European Defence Screened UCITS ETF	0.00%	0.00%	0.00%	0.00%
GCAD Gabelli Commercial Aerospace & Defense ETF	1.81%	2.06%	4.94%	3.62%

Frequently Asked Questions

Can I hold both ARMY and GCAD in my portfolio?

ARMY and GCAD have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ARMY or GCAD?

On fees, GCAD is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ARMY or GCAD?

GCAD is cheaper with a 0.00% expense ratio, compared with 0.39% for ARMY.

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

GCAD has the higher dividend yield at 1.81%, compared with 0.00% for ARMY.

What is the main difference between ARMY and GCAD?

They also come from different issuers: HANetf and Gabelli. Their fees differ too: 0.39% for ARMY and 0.00% for GCAD.