GABCX vs. ARBNX

Last updated Jun 5, 2026

GABCX (Gabelli ABC Fund) and ARBNX (The Arbitrage Fund Class Institutional) are both Event Driven funds. Over the past 10 years, GABCX returned 3.38%/yr vs 3.48%/yr for ARBNX. A 0.51 correlation means they provide meaningful diversification when combined. GABCX charges 0.79%/yr vs 1.49%/yr for ARBNX.

Performance

GABCX vs. ARBNX - Performance Comparison

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

Returns By Period

In the year-to-date period, GABCX achieves a 4.14% return, which is significantly higher than ARBNX's 1.21% return. Both investments have delivered pretty close results over the past 10 years, with GABCX having a 3.38% annualized return and ARBNX not far ahead at 3.48%.

GABCX

• 1D: -0.44%
• 1M: 0.35%
• YTD: 4.14%
• 6M: 4.13%
• 1Y: 8.62%
• 3Y*: 5.88%
• 5Y*: 3.71%
• 10Y*: 3.38%

ARBNX

• 1D: 0.00%
• 1M: 0.14%
• YTD: 1.21%
• 6M: 1.94%
• 1Y: 6.43%
• 3Y*: 6.73%
• 5Y*: 3.07%
• 10Y*: 3.48%

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

GABCX vs. ARBNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GABCX Gabelli ABC Fund	4.14%	5.86%	2.97%	6.84%	-2.02%	4.37%	2.90%	4.80%	0.20%	2.20%
ARBNX The Arbitrage Fund Class Institutional	1.21%	8.29%	2.95%	6.05%	-0.67%	1.05%	5.71%	3.84%	2.33%	2.87%

Correlation

The correlation between GABCX and ARBNX is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.48
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (10Y) Calculated over the trailing 10-year period	0.53
Correlation (All Time) Calculated using the full available price history since Oct 20, 2003	0.51

The correlation between GABCX and ARBNX has been stable across timeframes, ranging from 0.47 to 0.55 - a consistent structural relationship.

Return for Risk

GABCX vs. ARBNX — Risk / Return Rank

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

GABCX

GABCX Risk / Return Rank: 51
GABCX Sharpe Ratio Rank: 42
GABCX Sortino Ratio Rank: 45
GABCX Omega Ratio Rank: 41
GABCX Calmar Ratio Rank: 75
GABCX Martin Ratio Rank: 51

ARBNX

ARBNX Risk / Return Rank: 97
ARBNX Sharpe Ratio Rank: 96
ARBNX Sortino Ratio Rank: 98
ARBNX Omega Ratio Rank: 96
ARBNX Calmar Ratio Rank: 97
ARBNX 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. ARBNX - Risk-Adjusted Trends Comparison

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

	GABCX	ARBNX	Difference
Sharpe ratio: Return per unit of total volatility	1.83	3.49	-1.65
Sortino ratio: Return per unit of downside risk	2.76	6.20	-3.45
Omega ratio: Gain probability vs. loss probability	1.33	1.82	-0.49
Calmar ratio: Return relative to maximum drawdown	3.32	7.03	-3.71
Martin ratio: Return relative to average drawdown	10.24	33.62	-23.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GABCX vs. ARBNX - Sharpe Ratio Comparison

The current GABCX Sharpe Ratio is 1.83, which is lower than the ARBNX Sharpe Ratio of 3.49. The chart below compares the historical Sharpe Ratios of GABCX and ARBNX, 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

	GABCX	ARBNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.83	3.49	-1.65
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.78	0.85	-0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.79	0.79	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.89	0.58	+0.31

Drawdowns

GABCX vs. ARBNX - Drawdown Comparison

The maximum GABCX drawdown since its inception was -10.80%, smaller than the maximum ARBNX drawdown of -14.42%. Use the drawdown chart below to compare losses from any high point for GABCX and ARBNX.

Drawdown Indicators

	GABCX	ARBNX	Difference
Max Drawdown Largest peak-to-trough decline	-10.80%	-14.42%	+3.62%
Max Drawdown (1Y) Largest decline over 1 year	-2.67%	-0.92%	-1.75%
Max Drawdown (3Y) Largest decline over 3 years	-8.67%	-2.24%	-6.43%
Max Drawdown (5Y) Largest decline over 5 years	-8.67%	-7.44%	-1.23%
Max Drawdown (10Y) Largest decline over 10 years	-10.80%	-11.90%	+1.10%
Current Drawdown Current decline from peak	-0.44%	-0.07%	-0.37%
Average Drawdown Average peak-to-trough decline	-0.94%	-1.22%	+0.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.86%	0.19%	+0.67%

Volatility

GABCX vs. ARBNX - Volatility Comparison

Gabelli ABC Fund (GABCX) has a higher volatility of 1.55% compared to The Arbitrage Fund Class Institutional (ARBNX) at 0.28%. This indicates that GABCX's price experiences larger fluctuations and is considered to be riskier than ARBNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GABCX	ARBNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.55%	0.28%	+1.27%
Volatility (6M) Calculated over the trailing 6-month period	3.61%	1.14%	+2.47%
Volatility (1Y) Calculated over the trailing 1-year period	4.83%	1.86%	+2.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.76%	3.63%	+1.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.29%	4.42%	-0.13%

GABCX vs. ARBNX - Expense Ratio Comparison

GABCX has a 0.79% expense ratio, which is lower than ARBNX's 1.49% expense ratio.

Dividends

GABCX vs. ARBNX - Dividend Comparison

GABCX's dividend yield for the trailing twelve months is around 4.43%, more than ARBNX's 3.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARBNX The Arbitrage Fund Class Institutional	3.68%	3.72%	1.18%	2.11%	3.85%	0.51%	6.70%	2.12%	1.93%	3.80%	0.93%	2.30%
GABCX Gabelli ABC Fund	4.43%	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 ARBNX in my portfolio?

GABCX and ARBNX have a correlation of 0.47, 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 ARBNX?

GABCX has higher volatility (1.55%) compared to ARBNX (0.28%). In terms of maximum drawdown, GABCX dropped -10.80% vs ARBNX's -14.42%.

Which has better risk-adjusted returns?

ARBNX currently has the higher Sharpe Ratio (3.49 vs 1.83), 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.