EUAD vs. GCAD

Last updated Jun 4, 2026

EUAD (Select STOXX Europe Aerospace & Defense ETF) and GCAD (Gabelli Commercial Aerospace & Defense ETF) are both Aerospace & Defense funds. EUAD is passively managed, while GCAD is actively managed. Over the past year, EUAD returned -3.68% vs 35.52% for GCAD. A 0.51 correlation means they provide meaningful diversification when combined. EUAD charges 0.50%/yr vs 0.00%/yr for GCAD.

Performance

EUAD vs. GCAD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Select STOXX Europe Aerospace & Defense ETF (EUAD) 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, EUAD achieves a -5.41% return, which is significantly lower than GCAD's 14.09% return.

EUAD

• 1D: -1.53%
• 1M: -1.14%
• YTD: -5.41%
• 6M: -1.74%
• 1Y: -3.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GCAD

• 1D: -1.56%
• 1M: 5.29%
• YTD: 14.09%
• 6M: 19.16%
• 1Y: 35.52%
• 3Y*: 33.27%
• 5Y*: —
• 10Y*: —

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

EUAD vs. GCAD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EUAD Select STOXX Europe Aerospace & Defense ETF	-5.41%	74.51%	-3.62%
GCAD Gabelli Commercial Aerospace & Defense ETF	14.09%	39.28%	1.21%

Correlation

The correlation between EUAD and GCAD is 0.58, 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	0.58
Correlation (All Time) Calculated using the full available price history since Oct 23, 2024	0.51

The correlation between EUAD and GCAD has been stable across timeframes, ranging from 0.51 to 0.58 - a consistent structural relationship.

EUAD vs. GCAD - Sectors Allocation Comparison

Sectors	EUAD	GCAD
Industrials	99.4%	78.6%
Healthcare	0.1%	-
Basic Materials	-	0.7%
Communication Services	-	-
Consumer Cyclical	-	6.4%
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Real Estate	-	0.7%
Technology	-	3.3%
Utilities	-	-

Return for Risk

EUAD vs. GCAD — Risk / Return Rank

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

EUAD

EUAD Risk / Return Rank: 7
EUAD Sharpe Ratio Rank: 7
EUAD Sortino Ratio Rank: 7
EUAD Omega Ratio Rank: 7
EUAD Calmar Ratio Rank: 7
EUAD Martin Ratio Rank: 7

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.

EUAD vs. GCAD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Select STOXX Europe Aerospace & Defense ETF (EUAD) 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.

	EUAD	GCAD	Difference
Sharpe ratio: Return per unit of total volatility	-0.13	1.86	-1.98
Sortino ratio: Return per unit of downside risk	0.02	2.70	-2.68
Omega ratio: Gain probability vs. loss probability	1.00	1.32	-0.32
Calmar ratio: Return relative to maximum drawdown	-0.17	2.38	-2.55
Martin ratio: Return relative to average drawdown	-0.41	8.24	-8.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EUAD vs. GCAD - Sharpe Ratio Comparison

The current EUAD Sharpe Ratio is -0.13, which is lower than the GCAD Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of EUAD 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.

Sharpe Ratios by Period

	EUAD	GCAD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.13	1.86	-1.98
Sharpe Ratio (All Time) Calculated using the full available price history	1.13	1.56	-0.43

Drawdowns

EUAD vs. GCAD - Drawdown Comparison

The maximum EUAD drawdown since its inception was -22.04%, which is greater than GCAD's maximum drawdown of -16.14%. Use the drawdown chart below to compare losses from any high point for EUAD and GCAD.

Drawdown Indicators

	EUAD	GCAD	Difference
Max Drawdown Largest peak-to-trough decline	-22.04%	-16.14%	-5.90%
Max Drawdown (1Y) Largest decline over 1 year	-22.04%	-14.96%	-7.08%
Max Drawdown (3Y) Largest decline over 3 years	—	-16.14%	—
Current Drawdown Current decline from peak	-17.46%	-5.92%	-11.54%
Average Drawdown Average peak-to-trough decline	-5.62%	-3.03%	-2.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.99%	4.32%	+4.67%

Volatility

EUAD vs. GCAD - Volatility Comparison

Select STOXX Europe Aerospace & Defense ETF (EUAD) has a higher volatility of 11.32% compared to Gabelli Commercial Aerospace & Defense ETF (GCAD) at 7.14%. This indicates that EUAD'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

	EUAD	GCAD	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.32%	7.14%	+4.18%
Volatility (6M) Calculated over the trailing 6-month period	24.20%	16.33%	+7.87%
Volatility (1Y) Calculated over the trailing 1-year period	29.14%	19.25%	+9.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.84%	18.49%	+11.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.84%	18.49%	+11.35%

EUAD vs. GCAD - Expense Ratio Comparison

EUAD has a 0.50% expense ratio, which is higher than GCAD's 0.00% expense ratio.

Dividends

EUAD vs. GCAD - Dividend Comparison

EUAD's dividend yield for the trailing twelve months is around 0.42%, less than GCAD's 1.81% yield.

Position	TTM	2025	2024	2023
EUAD Select STOXX Europe Aerospace & Defense ETF	0.42%	0.40%	0.10%	0.00%
GCAD Gabelli Commercial Aerospace & Defense ETF	1.81%	2.06%	4.94%	3.62%

Frequently Asked Questions

Can I hold both EUAD and GCAD in my portfolio?

EUAD and GCAD have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EUAD or GCAD?

EUAD has higher volatility (11.32%) compared to GCAD (7.14%). In terms of maximum drawdown, EUAD dropped -22.04% vs GCAD's -16.14%.

Which ETF is better, EUAD or GCAD?

On 1-year performance, GCAD leads with 35.52% vs -3.68% for EUAD. On fees, GCAD is cheaper at 0.00% per year. On volatility, GCAD has been the lower-risk option at 7.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EUAD or GCAD?

Over the 1-year period, GCAD has performed better with a 35.52% return vs -3.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EUAD or GCAD?

GCAD is cheaper with a 0.00% expense ratio, compared with 0.50% for EUAD.

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

GCAD has the higher dividend yield at 1.81%, compared with 0.42% for EUAD.

What is the main difference between EUAD and GCAD?

They also come from different issuers: Select Funds and Gabelli. Their fees differ too: 0.50% for EUAD and 0.00% for GCAD.

Which has better risk-adjusted returns?

GCAD currently has the higher Sharpe Ratio (1.86 vs -0.13), 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.