GABEX vs. RSPA

Last updated Apr 1, 2026

Compare and contrast key facts about Gabelli Equity Income Fund (GABEX) and Invesco S&P 500 Equal Weight Income Advantage ETF (RSPA).

GABEX is managed by Gabelli. It was launched on Jan 2, 1992. RSPA is a passively managed fund by Invesco that tracks the performance of the S&P 500 Equal Weight Index. It was launched on Jul 17, 2025.

Performance

GABEX vs. RSPA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Gabelli Equity Income Fund (GABEX) and Invesco S&P 500 Equal Weight Income Advantage ETF (RSPA). The values are adjusted to include any dividend payments, if applicable.

GABEX vs. RSPA - Yearly Performance Comparison

	2026 (YTD)	2025	2024
GABEX Gabelli Equity Income Fund	-1.84%	4.33%	-0.18%
RSPA Invesco S&P 500 Equal Weight Income Advantage ETF	0.42%	11.07%	3.68%

Returns By Period

In the year-to-date period, GABEX achieves a -1.84% return, which is significantly lower than RSPA's 0.42% return.

GABEX

• 1D: -0.20%
• 1M: -10.07%
• YTD: -1.84%
• 6M: 0.40%
• 1Y: 0.54%
• 3Y*: 4.95%
• 5Y*: 4.76%
• 10Y*: 11.16%

RSPA

• 1D: 1.49%
• 1M: -4.59%
• YTD: 0.42%
• 6M: 2.58%
• 1Y: 11.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GABEX vs. RSPA - Expense Ratio Comparison

GABEX has a 1.42% expense ratio, which is higher than RSPA's 0.29% expense ratio.

GABEX

Gabelli Equity Income Fund

RSPA

Invesco S&P 500 Equal Weight Income Advantage ETF

Return for Risk

GABEX vs. RSPA — Risk / Return Rank

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

GABEX

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

RSPA

RSPA Risk / Return Rank: 49
RSPA Sharpe Ratio Rank: 46
RSPA Sortino Ratio Rank: 45
RSPA Omega Ratio Rank: 51
RSPA Calmar Ratio Rank: 45
RSPA Martin Ratio Rank: 57

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.

GABEX vs. RSPA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gabelli Equity Income Fund (GABEX) and Invesco S&P 500 Equal Weight Income Advantage ETF (RSPA). 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.

	GABEX	RSPA	Difference
Sharpe ratio Return per unit of total volatility	0.04	0.78	-0.74
Sortino ratio Return per unit of downside risk	0.17	1.19	-1.03
Omega ratio Gain probability vs. loss probability	1.03	1.18	-0.16
Calmar ratio Return relative to maximum drawdown	-0.06	1.08	-1.14
Martin ratio Return relative to average drawdown	-0.13	5.32	-5.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GABEX vs. RSPA - Sharpe Ratio Comparison

The current GABEX Sharpe Ratio is 0.04, which is lower than the RSPA Sharpe Ratio of 0.78. The chart below compares the historical Sharpe Ratios of GABEX and RSPA, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	GABEX	RSPA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.04	0.78	-0.74
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.31	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	0.67	-0.08

Correlation

The correlation between GABEX and RSPA is 0.84, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

GABEX vs. RSPA - Dividend Comparison

GABEX's dividend yield for the trailing twelve months is around 20.00%, more than RSPA's 9.37% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GABEX Gabelli Equity Income Fund	20.00%	20.83%	33.06%	23.48%	20.49%	19.96%	32.82%	65.43%	31.87%	17.83%	16.63%	7.78%
RSPA Invesco S&P 500 Equal Weight Income Advantage ETF	9.37%	9.14%	4.03%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

GABEX vs. RSPA - Drawdown Comparison

The maximum GABEX drawdown since its inception was -52.25%, which is greater than RSPA's maximum drawdown of -15.37%. Use the drawdown chart below to compare losses from any high point for GABEX and RSPA.

Drawdown Indicators

	GABEX	RSPA	Difference
Max Drawdown Largest peak-to-trough decline	-52.25%	-15.37%	-36.88%
Max Drawdown (1Y) Largest decline over 1 year	-13.11%	-11.45%	-1.66%
Max Drawdown (5Y) Largest decline over 5 years	-17.59%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-37.27%	—	—
Current Drawdown Current decline from peak	-11.17%	-4.81%	-6.36%
Average Drawdown Average peak-to-trough decline	-5.16%	-2.16%	-3.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.12%	2.32%	+3.80%

Volatility

GABEX vs. RSPA - Volatility Comparison

Gabelli Equity Income Fund (GABEX) has a higher volatility of 4.86% compared to Invesco S&P 500 Equal Weight Income Advantage ETF (RSPA) at 3.81%. This indicates that GABEX's price experiences larger fluctuations and is considered to be riskier than RSPA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GABEX	RSPA	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.86%	3.81%	+1.05%
Volatility (6M) Calculated over the trailing 6-month period	13.31%	7.51%	+5.80%
Volatility (1Y) Calculated over the trailing 1-year period	18.01%	14.79%	+3.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.24%	13.39%	+1.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.31%	13.39%	+7.92%