GABCX vs. ARBFX

Last updated Jun 23, 2026

GABCX (Gabelli ABC Fund) and ARBFX (The Arbitrage Fund) are both Event Driven funds. Over the past 10 years, GABCX returned 3.34%/yr vs 3.24%/yr for ARBFX. At a 0.49 correlation, their price movements are largely independent. GABCX charges 0.79%/yr vs 1.43%/yr for ARBFX.

Performance

GABCX vs. ARBFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Gabelli ABC Fund (GABCX) and The Arbitrage Fund (ARBFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GABCX achieves a 3.68% return, which is significantly higher than ARBFX's 1.12% return. Both investments have delivered pretty close results over the past 10 years, with GABCX having a 3.34% annualized return and ARBFX not far behind at 3.24%.

GABCX

• 1D: 0.09%
• 1M: -0.35%
• YTD: 3.68%
• 6M: 3.67%
• 1Y: 7.84%
• 3Y*: 5.45%
• 5Y*: 3.70%
• 10Y*: 3.34%

ARBFX

• 1D: 0.15%
• 1M: 0.07%
• YTD: 1.12%
• 6M: 1.19%
• 1Y: 5.93%
• 3Y*: 6.36%
• 5Y*: 2.96%
• 10Y*: 3.24%

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

GABCX vs. ARBFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GABCX Gabelli ABC Fund	3.68%	5.86%	2.97%	6.84%	-2.02%	4.37%	2.90%	4.80%	0.20%	2.20%
ARBFX The Arbitrage Fund	1.12%	8.01%	2.61%	5.94%	-1.02%	0.85%	5.42%	3.57%	2.12%	2.59%

Correlation

The correlation between GABCX and ARBFX is 0.54, 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	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (5Y) Calculated over the trailing 5-year period	0.56
Correlation (10Y) Calculated over the trailing 10-year period	0.54
Correlation (All Time) Calculated using the full available price history since Sep 18, 2000	0.49

The correlation between GABCX and ARBFX has been stable across timeframes, ranging from 0.49 to 0.56 - a consistent structural relationship.

Return for Risk

GABCX vs. ARBFX — Risk / Return Rank

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

GABCX

GABCX Risk / Return Rank: 44
GABCX Sharpe Ratio Rank: 36
GABCX Sortino Ratio Rank: 39
GABCX Omega Ratio Rank: 34
GABCX Calmar Ratio Rank: 66
GABCX Martin Ratio Rank: 46

ARBFX

ARBFX Risk / Return Rank: 97
ARBFX Sharpe Ratio Rank: 96
ARBFX Sortino Ratio Rank: 97
ARBFX Omega Ratio Rank: 95
ARBFX Calmar Ratio Rank: 97
ARBFX Martin Ratio Rank: 98

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.

GABCX vs. ARBFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gabelli ABC Fund (GABCX) and The Arbitrage Fund (ARBFX). 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.

	GABCX	ARBFX	Difference
Sharpe ratio: Return per unit of total volatility	1.61	3.20	-1.60
Sortino ratio: Return per unit of downside risk	2.41	5.55	-3.15
Omega ratio: Gain probability vs. loss probability	1.29	1.74	-0.45
Calmar ratio: Return relative to maximum drawdown	2.99	6.74	-3.75
Martin ratio: Return relative to average drawdown	9.16	29.71	-20.56

GABCX vs. ARBFX - Sharpe Ratio Comparison

The current GABCX Sharpe Ratio is 1.61, which is lower than the ARBFX Sharpe Ratio of 3.20. The chart below compares the historical Sharpe Ratios of GABCX and ARBFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GABCX vs. ARBFX - Drawdown Comparison

The maximum GABCX drawdown since its inception was -10.80%, smaller than the maximum ARBFX drawdown of -38.01%. Use the drawdown chart below to compare losses from any high point for GABCX and ARBFX.

Drawdown Indicators

	GABCX	ARBFX	Difference
Max Drawdown Largest peak-to-trough decline	-10.80%	-38.01%	+27.21%
Max Drawdown (1Y) Largest decline over 1 year	-2.67%	-0.88%	-1.79%
Max Drawdown (3Y) Largest decline over 3 years	-8.67%	-2.26%	-6.41%
Max Drawdown (5Y) Largest decline over 5 years	-8.67%	-6.87%	-1.80%
Max Drawdown (10Y) Largest decline over 10 years	-10.80%	-11.90%	+1.10%
Current Drawdown Current decline from peak	-0.88%	-0.07%	-0.81%
Average Drawdown Average peak-to-trough decline	-0.94%	-2.36%	+1.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.87%	0.20%	+0.67%

Volatility

GABCX vs. ARBFX - Volatility Comparison

Gabelli ABC Fund (GABCX) has a higher volatility of 1.71% compared to The Arbitrage Fund (ARBFX) at 0.46%. This indicates that GABCX's price experiences larger fluctuations and is considered to be riskier than ARBFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GABCX	ARBFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.71%	0.46%	+1.25%
Volatility (6M) Calculated over the trailing 6-month period	3.75%	1.14%	+2.61%
Volatility (1Y) Calculated over the trailing 1-year period	4.97%	1.86%	+3.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.80%	3.64%	+1.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.31%	4.42%	-0.11%

GABCX vs. ARBFX - Expense Ratio Comparison

GABCX has a 0.79% expense ratio, which is lower than ARBFX's 1.43% expense ratio.

Dividends

GABCX vs. ARBFX - Dividend Comparison

GABCX's dividend yield for the trailing twelve months is around 4.45%, more than ARBFX's 3.55% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARBFX The Arbitrage Fund	3.55%	3.59%	0.94%	1.92%	3.67%	0.53%	6.94%	2.12%	1.71%	3.55%	0.96%	2.36%
GABCX Gabelli ABC Fund	4.45%	4.61%	0.00%	3.35%	1.38%	4.55%	0.44%	2.95%	3.69%	0.13%	2.37%	2.63%

Frequently Asked Questions

Can I hold both GABCX and ARBFX in my portfolio?

GABCX and ARBFX have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GABCX or ARBFX?

GABCX has higher volatility (1.71%) compared to ARBFX (0.46%). In terms of maximum drawdown, GABCX dropped -10.80% vs ARBFX's -38.01%.

Which has better risk-adjusted returns?

ARBFX currently has the higher Sharpe Ratio (3.20 vs 1.61), 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.