EMAYX vs. VARBX
Compare and contrast key facts about Gabelli Enterprise Mergers and Acquisitions Fund (EMAYX) and Vivaldi Merger Arbitrage Fund Class I (VARBX).
EMAYX is managed by Gabelli. It was launched on Feb 27, 2001. VARBX is managed by First Trust. It was launched on Oct 1, 2015.
Performance
EMAYX vs. VARBX - Performance Comparison
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EMAYX vs. VARBX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EMAYX Gabelli Enterprise Mergers and Acquisitions Fund | 3.60% | 21.17% | 4.10% | 5.96% | -8.78% | 9.83% | 5.29% | 7.71% | -2.78% | 5.61% |
VARBX Vivaldi Merger Arbitrage Fund Class I | 0.85% | 6.06% | 12.64% | 3.30% | 2.38% | 5.42% | 4.00% | 4.28% | 4.11% | 2.39% |
Returns By Period
In the year-to-date period, EMAYX achieves a 3.60% return, which is significantly higher than VARBX's 0.85% return. Over the past 10 years, EMAYX has outperformed VARBX with an annualized return of 5.61%, while VARBX has yielded a comparatively lower 4.45% annualized return.
EMAYX
- 1D
- 1.15%
- 1M
- -3.21%
- YTD
- 3.60%
- 6M
- 8.05%
- 1Y
- 21.36%
- 3Y*
- 10.77%
- 5Y*
- 5.51%
- 10Y*
- 5.61%
VARBX
- 1D
- 0.09%
- 1M
- 0.47%
- YTD
- 0.85%
- 6M
- 2.21%
- 1Y
- 5.56%
- 3Y*
- 7.36%
- 5Y*
- 5.39%
- 10Y*
- 4.45%
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EMAYX vs. VARBX - Expense Ratio Comparison
EMAYX has a 1.01% expense ratio, which is lower than VARBX's 1.81% expense ratio.
Return for Risk
EMAYX vs. VARBX — Risk / Return Rank
EMAYX
VARBX
EMAYX vs. VARBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Gabelli Enterprise Mergers and Acquisitions Fund (EMAYX) and Vivaldi Merger Arbitrage Fund Class I (VARBX). 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.
| EMAYX | VARBX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.82 | 4.06 | -2.24 |
Sortino ratioReturn per unit of downside risk | 2.51 | 6.90 | -4.39 |
Omega ratioGain probability vs. loss probability | 1.35 | 2.36 | -1.01 |
Calmar ratioReturn relative to maximum drawdown | 2.25 | 8.71 | -6.46 |
Martin ratioReturn relative to average drawdown | 10.81 | 37.63 | -26.82 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EMAYX | VARBX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.82 | 4.06 | -2.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.51 | 1.64 | -1.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | 1.33 | -0.79 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 1.40 | -0.96 |
Correlation
The correlation between EMAYX and VARBX is 0.29, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
EMAYX vs. VARBX - Dividend Comparison
EMAYX's dividend yield for the trailing twelve months is around 4.06%, less than VARBX's 5.99% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMAYX Gabelli Enterprise Mergers and Acquisitions Fund | 4.06% | 4.21% | 0.00% | 3.00% | 0.80% | 6.84% | 0.24% | 1.80% | 5.52% | 1.24% | 0.00% | 0.00% |
VARBX Vivaldi Merger Arbitrage Fund Class I | 5.99% | 6.04% | 12.59% | 4.07% | 0.75% | 8.42% | 0.81% | 5.54% | 2.15% | 1.70% | 0.06% | 0.04% |
Drawdowns
EMAYX vs. VARBX - Drawdown Comparison
The maximum EMAYX drawdown since its inception was -47.93%, which is greater than VARBX's maximum drawdown of -5.12%. Use the drawdown chart below to compare losses from any high point for EMAYX and VARBX.
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Drawdown Indicators
| EMAYX | VARBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.93% | -5.12% | -42.81% |
Max Drawdown (1Y)Largest decline over 1 year | -9.69% | -0.64% | -9.05% |
Max Drawdown (5Y)Largest decline over 5 years | -15.95% | -1.79% | -14.16% |
Max Drawdown (10Y)Largest decline over 10 years | -24.90% | -5.12% | -19.78% |
Current DrawdownCurrent decline from peak | -3.21% | 0.00% | -3.21% |
Average DrawdownAverage peak-to-trough decline | -4.50% | -0.57% | -3.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.02% | 0.15% | +1.87% |
Volatility
EMAYX vs. VARBX - Volatility Comparison
Gabelli Enterprise Mergers and Acquisitions Fund (EMAYX) has a higher volatility of 3.47% compared to Vivaldi Merger Arbitrage Fund Class I (VARBX) at 0.33%. This indicates that EMAYX's price experiences larger fluctuations and is considered to be riskier than VARBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMAYX | VARBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.47% | 0.33% | +3.14% |
Volatility (6M)Calculated over the trailing 6-month period | 6.64% | 0.71% | +5.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.82% | 1.35% | +10.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.88% | 3.31% | +7.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.51% | 3.35% | +7.16% |