FNKLX vs. GABF
FNKLX (Fidelity Series Value Discovery Fund) and GABF (Gabelli Financial Services Opportunities ETF) are both funds - FNKLX is a Large Cap Value Equities fund managed by Fidelity, while GABF is a Financials Equities fund actively managed by Gabelli. Over the past 3 years, FNKLX returned 16.85%/yr vs 21.50%/yr for GABF. A 0.76 correlation means they provide meaningful diversification when combined. FNKLX charges 0.00%/yr vs 0.10%/yr for GABF.
Performance
FNKLX vs. GABF - Performance Comparison
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Returns By Period
In the year-to-date period, FNKLX achieves a 11.21% return, which is significantly higher than GABF's -4.42% return.
FNKLX
- 1D
- 0.33%
- 1M
- 0.99%
- YTD
- 11.21%
- 6M
- 10.50%
- 1Y
- 25.56%
- 3Y*
- 16.85%
- 5Y*
- 10.59%
- 10Y*
- 11.81%
GABF
- 1D
- -0.39%
- 1M
- 0.90%
- YTD
- -4.42%
- 6M
- -5.68%
- 1Y
- -1.50%
- 3Y*
- 21.50%
- 5Y*
- —
- 10Y*
- —
FNKLX vs. GABF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FNKLX Fidelity Series Value Discovery Fund | 11.21% | 17.47% | 13.74% | 6.15% | 3.31% |
GABF Gabelli Financial Services Opportunities ETF | -4.42% | 3.60% | 44.38% | 38.92% | -0.04% |
Correlation
The correlation between FNKLX and GABF is 0.75, 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 | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since May 10, 2022 | 0.76 |
The correlation between FNKLX and GABF has been stable across timeframes, ranging from 0.73 to 0.76 - a consistent structural relationship.
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Return for Risk
FNKLX vs. GABF — Risk / Return Rank
FNKLX
GABF
FNKLX vs. GABF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Series Value Discovery Fund (FNKLX) 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.
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.
| FNKLX | GABF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.57 | ||
| Sortino ratioReturn per unit of downside risk | +3.56 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.00 | +0.45 |
| Calmar ratioReturn relative to maximum drawdown | 3.88 | -0.09 | +3.96 |
| Martin ratioReturn relative to average drawdown | 15.71 | -0.20 | +15.91 |
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Drawdowns
FNKLX vs. GABF - Drawdown Comparison
The maximum FNKLX drawdown since its inception was -37.31%, which is greater than GABF's maximum drawdown of -20.86%. Use the drawdown chart below to compare losses from any high point for FNKLX and GABF.
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Drawdown Indicators
| FNKLX | GABF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.31% | -20.86% | -16.45% |
Max Drawdown (1Y)Largest decline over 1 year | -6.79% | -17.16% | +10.37% |
Max Drawdown (3Y)Largest decline over 3 years | -10.41% | -20.86% | +10.45% |
Max Drawdown (5Y)Largest decline over 5 years | -15.88% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -37.31% | — | — |
Current DrawdownCurrent decline from peak | -0.70% | -9.12% | +8.42% |
Average DrawdownAverage peak-to-trough decline | -3.43% | -4.90% | +1.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.67% | 7.55% | -5.88% |
Volatility
FNKLX vs. GABF - Volatility Comparison
The current volatility for Fidelity Series Value Discovery Fund (FNKLX) is 3.18%, while Gabelli Financial Services Opportunities ETF (GABF) has a volatility of 4.38%. This indicates that FNKLX 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.
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Volatility by Period
| FNKLX | GABF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.18% | 4.38% | -1.20% |
Volatility (6M)Calculated over the trailing 6-month period | 7.86% | 13.29% | -5.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.60% | 17.47% | -6.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.50% | 20.48% | -6.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.72% | 20.48% | -3.76% |
FNKLX vs. GABF - Expense Ratio Comparison
FNKLX has a 0.00% expense ratio, which is lower than GABF's 0.10% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
FNKLX vs. GABF - Dividend Comparison
FNKLX's dividend yield for the trailing twelve months is around 7.89%, more than GABF's 2.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FNKLX Fidelity Series Value Discovery Fund | 7.89% | 6.65% | 9.10% | 5.08% | 9.13% | 8.50% | 3.01% | 3.89% | 7.22% | 7.74% | 3.94% | 8.72% |
GABF Gabelli Financial Services Opportunities ETF | 2.05% | 1.96% | 4.19% | 4.95% | 1.31% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FNKLX and GABF have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GABF has higher volatility (4.38%) compared to FNKLX (3.18%). In terms of maximum drawdown, FNKLX dropped -37.31% vs GABF's -20.86%.
FNKLX currently has the higher Sharpe Ratio (2.49 vs -0.09), 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.
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