GABF vs. ^GSPC
GABF (Gabelli Financial Services Opportunities ETF) is Financials Equities fund actively managed by Gabelli, while ^GSPC (S&P 500 Index) is an index. Over the past 3 years, GABF returned 21.78%/yr vs 21.07%/yr for ^GSPC. A 0.76 correlation means they provide meaningful diversification when combined.
Performance
GABF vs. ^GSPC - Performance Comparison
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Returns By Period
In the year-to-date period, GABF achieves a -4.77% return, which is significantly lower than ^GSPC's 10.79% return.
GABF
- 1D
- 2.43%
- 1M
- -0.68%
- YTD
- -4.77%
- 6M
- -4.12%
- 1Y
- -1.19%
- 3Y*
- 21.78%
- 5Y*
- —
- 10Y*
- —
^GSPC
- 1D
- 0.41%
- 1M
- 4.48%
- YTD
- 10.79%
- 6M
- 10.60%
- 1Y
- 27.02%
- 3Y*
- 21.07%
- 5Y*
- 12.39%
- 10Y*
- 13.65%
GABF vs. ^GSPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GABF Gabelli Financial Services Opportunities ETF | -4.77% | 3.60% | 44.38% | 38.92% | 0.40% |
^GSPC S&P 500 Index | 10.79% | 16.39% | 23.31% | 24.23% | -4.04% |
Correlation
The correlation between GABF and ^GSPC is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since May 11, 2022 | 0.76 |
The correlation between GABF and ^GSPC has been stable across timeframes, ranging from 0.68 to 0.76 - a consistent structural relationship.
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Return for Risk
GABF vs. ^GSPC — Risk / Return Rank
GABF
^GSPC
GABF vs. ^GSPC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Gabelli Financial Services Opportunities ETF (GABF) and S&P 500 Index (^GSPC). 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.
| GABF | ^GSPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.35 | ||
| Sortino ratioReturn per unit of downside risk | -3.10 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.41 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | -0.07 | 2.98 | -3.05 |
| Martin ratioReturn relative to average drawdown | -0.16 | 13.78 | -13.94 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GABF | ^GSPC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.07 | 2.28 | -2.35 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.74 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.76 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.90 | 0.47 | +0.43 |
Drawdowns
GABF vs. ^GSPC - Drawdown Comparison
The maximum GABF drawdown since its inception was -20.86%, smaller than the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for GABF and ^GSPC.
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Drawdown Indicators
| GABF | ^GSPC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.86% | -56.78% | +35.92% |
Max Drawdown (1Y)Largest decline over 1 year | -17.16% | -9.10% | -8.06% |
Max Drawdown (3Y)Largest decline over 3 years | -20.86% | -18.90% | -1.96% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -9.45% | -0.33% | -9.12% |
Average DrawdownAverage peak-to-trough decline | -4.86% | -10.72% | +5.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.29% | 1.97% | +5.32% |
Volatility
GABF vs. ^GSPC - Volatility Comparison
Gabelli Financial Services Opportunities ETF (GABF) has a higher volatility of 4.98% compared to S&P 500 Index (^GSPC) at 2.88%. This indicates that GABF's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GABF | ^GSPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.98% | 2.88% | +2.10% |
Volatility (6M)Calculated over the trailing 6-month period | 13.36% | 9.00% | +4.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.53% | 11.89% | +5.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.57% | 16.90% | +3.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.57% | 18.06% | +2.51% |
Frequently Asked Questions
GABF and ^GSPC have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GABF has higher volatility (4.98%) compared to ^GSPC (2.88%). In terms of maximum drawdown, GABF dropped -20.86% vs ^GSPC's -56.78%.
^GSPC currently has the higher Sharpe Ratio (2.28 vs -0.07), 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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