FNKLX vs. GABF

Last updated Jun 4, 2026

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 16.59%/yr vs 20.47%/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

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Series Value Discovery Fund (FNKLX) 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, FNKLX achieves a 10.55% return, which is significantly higher than GABF's -7.03% return.

FNKLX

• 1D: 0.27%
• 1M: 2.92%
• YTD: 10.55%
• 6M: 12.23%
• 1Y: 25.68%
• 3Y*: 16.59%
• 5Y*: 9.77%
• 10Y*: 11.44%

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)

FNKLX vs. GABF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FNKLX Fidelity Series Value Discovery Fund	10.55%	17.47%	13.74%	6.15%	3.51%
GABF Gabelli Financial Services Opportunities ETF	-7.03%	3.60%	44.38%	38.92%	0.40%

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 11, 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.

Return for Risk

FNKLX vs. GABF — Risk / Return Rank

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

FNKLX

FNKLX Risk / Return Rank: 78
FNKLX Sharpe Ratio Rank: 76
FNKLX Sortino Ratio Rank: 76
FNKLX Omega Ratio Rank: 69
FNKLX Calmar Ratio Rank: 83
FNKLX Martin Ratio Rank: 83

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.

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.

	FNKLX	GABF	Difference
Sharpe ratio: Return per unit of total volatility	2.54	-0.19	+2.73
Sortino ratio: Return per unit of downside risk	3.68	-0.13	+3.82
Omega ratio: Gain probability vs. loss probability	1.47	0.98	+0.48
Calmar ratio: Return relative to maximum drawdown	3.86	-0.19	+4.05
Martin ratio: Return relative to average drawdown	15.71	-0.44	+16.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FNKLX vs. GABF - Sharpe Ratio Comparison

The current FNKLX Sharpe Ratio is 2.54, which is higher than the GABF Sharpe Ratio of -0.19. The chart below compares the historical Sharpe Ratios of FNKLX 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

	FNKLX	GABF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.54	-0.19	+2.73
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.72	0.87	-0.15

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.

Drawdown Indicators

	FNKLX	GABF	Difference
Max Drawdown Largest 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 Drawdown Current decline from peak	-0.27%	-11.60%	+11.33%
Average Drawdown Average peak-to-trough decline	-3.44%	-4.86%	+1.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.66%	7.27%	-5.61%

Volatility

FNKLX vs. GABF - Volatility Comparison

The current volatility for Fidelity Series Value Discovery Fund (FNKLX) is 2.53%, while Gabelli Financial Services Opportunities ETF (GABF) has a volatility of 4.28%. 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.

Volatility by Period

	FNKLX	GABF	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.53%	4.28%	-1.75%
Volatility (6M) Calculated over the trailing 6-month period	7.55%	13.14%	-5.59%
Volatility (1Y) Calculated over the trailing 1-year period	10.30%	17.37%	-7.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.49%	20.54%	-7.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.71%	20.54%	-3.83%

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 7.94%, more than GABF's 2.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FNKLX Fidelity Series Value Discovery Fund	7.94%	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	2.11%	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

Can I hold both FNKLX and GABF in my portfolio?

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.

Which is riskier, FNKLX or GABF?

GABF has higher volatility (4.28%) compared to FNKLX (2.53%). In terms of maximum drawdown, FNKLX dropped -37.31% vs GABF's -20.86%.

Which has better risk-adjusted returns?

FNKLX currently has the higher Sharpe Ratio (2.54 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.