FLCO vs. GABF

Last updated Jun 4, 2026

FLCO (Franklin Liberty Investment Grade Corporate ETF) and GABF (Gabelli Financial Services Opportunities ETF) are both exchange-traded funds - FLCO is a Corporate Bonds fund actively managed by Franklin Templeton, while GABF is a Financials Equities fund actively managed by Gabelli. Both are actively managed. Over the past 3 years, FLCO returned 4.97%/yr vs 20.47%/yr for GABF. At a 0.27 correlation, their price movements are largely independent. FLCO charges 0.35%/yr vs 0.10%/yr for GABF.

Performance

FLCO vs. GABF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Liberty Investment Grade Corporate ETF (FLCO) and Gabelli Financial Services Opportunities ETF (GABF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLCO achieves a 0.40% return, which is significantly higher than GABF's -7.03% return.

FLCO

• 1D: -0.19%
• 1M: 0.57%
• YTD: 0.40%
• 6M: 0.31%
• 1Y: 5.64%
• 3Y*: 4.97%
• 5Y*: 0.17%
• 10Y*: —

GABF

• 1D: -1.89%
• 1M: -3.11%
• YTD: -7.03%
• 6M: -6.24%
• 1Y: -3.20%
• 3Y*: 20.47%
• 5Y*: —
• 10Y*: —

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

FLCO vs. GABF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FLCO Franklin Liberty Investment Grade Corporate ETF	0.40%	7.53%	1.93%	7.94%	-2.94%
GABF Gabelli Financial Services Opportunities ETF	-7.03%	3.60%	44.38%	38.92%	0.40%

Correlation

The correlation between FLCO and GABF is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (All Time) Calculated using the full available price history since May 11, 2022	0.27

FLCO vs. GABF - Sectors Allocation Comparison

Sectors	FLCO	GABF
Financial Services	12.6%	84.6%
Healthcare	2.8%	-
Communication Services	2.4%	-
Industrials	2.1%	4.6%
Energy	1.7%	-
Technology	1.1%	4.9%
Basic Materials	0.5%	-
Consumer Defensive	0.3%	-
Consumer Cyclical	0.0%	-
Real Estate	-	6.0%
Utilities	-	-

Return for Risk

FLCO vs. GABF — Risk / Return Rank

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

FLCO

FLCO Risk / Return Rank: 37
FLCO Sharpe Ratio Rank: 36
FLCO Sortino Ratio Rank: 36
FLCO Omega Ratio Rank: 33
FLCO Calmar Ratio Rank: 42
FLCO Martin Ratio Rank: 39

GABF

GABF Risk / Return Rank: 7
GABF Sharpe Ratio Rank: 7
GABF Sortino Ratio Rank: 6
GABF Omega Ratio Rank: 6
GABF Calmar Ratio Rank: 7
GABF Martin Ratio Rank: 7

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.

FLCO vs. GABF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Liberty Investment Grade Corporate ETF (FLCO) and Gabelli Financial Services Opportunities ETF (GABF). 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.

	FLCO	GABF	Difference
Sharpe ratio Return per unit of total volatility	1.28	-0.19	+1.47
Sortino ratio Return per unit of downside risk	1.89	-0.13	+2.03
Omega ratio Gain probability vs. loss probability	1.22	0.98	+0.24
Calmar ratio Return relative to maximum drawdown	2.05	-0.19	+2.24
Martin ratio Return relative to average drawdown	6.16	-0.44	+6.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FLCO vs. GABF - Sharpe Ratio Comparison

The current FLCO Sharpe Ratio is 1.28, which is higher than the GABF Sharpe Ratio of -0.19. The chart below compares the historical Sharpe Ratios of FLCO and GABF, 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

	FLCO	GABF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.28	-0.19	+1.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.02	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.87	-0.55

Drawdowns

FLCO vs. GABF - Drawdown Comparison

The maximum FLCO drawdown since its inception was -22.71%, which is greater than GABF's maximum drawdown of -20.86%. Use the drawdown chart below to compare losses from any high point for FLCO and GABF.

Drawdown Indicators

	FLCO	GABF	Difference
Max Drawdown Largest peak-to-trough decline	-22.71%	-20.86%	-1.85%
Max Drawdown (1Y) Largest decline over 1 year	-2.76%	-17.16%	+14.40%
Max Drawdown (3Y) Largest decline over 3 years	-6.59%	-20.86%	+14.27%
Max Drawdown (5Y) Largest decline over 5 years	-22.48%	—	—
Current Drawdown Current decline from peak	-2.37%	-11.60%	+9.23%
Average Drawdown Average peak-to-trough decline	-5.88%	-4.86%	-1.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.92%	7.27%	-6.35%

Volatility

FLCO vs. GABF - Volatility Comparison

The current volatility for Franklin Liberty Investment Grade Corporate ETF (FLCO) is 1.44%, while Gabelli Financial Services Opportunities ETF (GABF) has a volatility of 4.28%. This indicates that FLCO experiences smaller price fluctuations and is considered to be less risky than GABF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLCO	GABF	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.44%	4.28%	-2.84%
Volatility (6M) Calculated over the trailing 6-month period	3.24%	13.14%	-9.90%
Volatility (1Y) Calculated over the trailing 1-year period	4.42%	17.37%	-12.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.15%	20.54%	-13.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.83%	20.54%	-13.71%

FLCO vs. GABF - Expense Ratio Comparison

FLCO has a 0.35% expense ratio, which is higher than GABF's 0.10% expense ratio.

Dividends

FLCO vs. GABF - Dividend Comparison

FLCO's dividend yield for the trailing twelve months is around 4.66%, more than GABF's 2.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FLCO Franklin Liberty Investment Grade Corporate ETF	4.66%	4.60%	4.63%	3.83%	3.85%	2.85%	3.99%	3.39%	3.86%	3.33%	0.51%
GABF Gabelli Financial Services Opportunities ETF	2.11%	1.96%	4.19%	4.95%	1.31%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FLCO and GABF in my portfolio?

FLCO and GABF have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLCO or GABF?

GABF has higher volatility (4.28%) compared to FLCO (1.44%). In terms of maximum drawdown, FLCO dropped -22.71% vs GABF's -20.86%.

Which ETF is better, FLCO or GABF?

On 3-year performance, GABF leads with 20.47% vs 4.97% for FLCO. On fees, GABF is cheaper at 0.10% per year. On volatility, FLCO has been the lower-risk option at 1.44%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLCO or GABF?

Over the 3-year period, GABF has performed better with a 20.47% return vs 4.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLCO or GABF?

GABF is cheaper with a 0.10% expense ratio, compared with 0.35% for FLCO.

Which ETF pays a higher dividend yield, FLCO or GABF?

FLCO has the higher dividend yield at 4.66%, compared with 2.11% for GABF.

What is the main difference between FLCO and GABF?

FLCO is categorized as Corporate Bonds, while GABF is Financials Equities. They also come from different issuers: Franklin Templeton and Gabelli. Their fees differ too: 0.35% for FLCO and 0.10% for GABF.

Which has better risk-adjusted returns?

FLCO currently has the higher Sharpe Ratio (1.28 vs -0.19), 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.