GABF vs. GCAD

Last updated Jun 5, 2026

GABF (Gabelli Financial Services Opportunities ETF) and GCAD (Gabelli Commercial Aerospace & Defense ETF) are both exchange-traded funds - GABF is a Financials Equities fund actively managed by Gabelli, while GCAD is a Aerospace & Defense fund actively managed by Gabelli. Both are actively managed. Over the past 3 years, GABF returned 21.78%/yr vs 35.11%/yr for GCAD. A 0.64 correlation means they provide meaningful diversification when combined. GABF charges 0.10%/yr vs 0.00%/yr for GCAD.

Performance

GABF vs. GCAD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Gabelli Financial Services Opportunities ETF (GABF) and Gabelli Commercial Aerospace & Defense ETF (GCAD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GABF achieves a -4.77% return, which is significantly lower than GCAD's 17.02% return.

GABF

• 1D: 2.43%
• 1M: -0.68%
• YTD: -4.77%
• 6M: -4.12%
• 1Y: -1.19%
• 3Y*: 21.78%
• 5Y*: —
• 10Y*: —

GCAD

• 1D: 2.57%
• 1M: 7.35%
• YTD: 17.02%
• 6M: 21.35%
• 1Y: 37.73%
• 3Y*: 35.11%
• 5Y*: —
• 10Y*: —

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

GABF vs. GCAD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
GABF Gabelli Financial Services Opportunities ETF	-4.77%	3.60%	44.38%	35.11%
GCAD Gabelli Commercial Aerospace & Defense ETF	17.02%	39.28%	26.61%	17.61%

Correlation

The correlation between GABF and GCAD is 0.53, 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	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (All Time) Calculated using the full available price history since Jan 5, 2023	0.64

The correlation between GABF and GCAD shifts across timeframes, from 0.53 (1 year) to 0.64 (all time), reflecting how their relationship changes across market environments.

GABF vs. GCAD - Sectors Allocation Comparison

Sectors	GABF	GCAD
Financial Services	84.6%	-
Real Estate	6.0%	0.7%
Technology	4.9%	3.3%
Industrials	4.6%	78.6%
Basic Materials	-	0.7%
Communication Services	-	-
Consumer Cyclical	-	6.4%
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Utilities	-	-

Return for Risk

GABF vs. GCAD — Risk / Return Rank

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

GABF

GABF Risk / Return Rank: 8
GABF Sharpe Ratio Rank: 8
GABF Sortino Ratio Rank: 8
GABF Omega Ratio Rank: 8
GABF Calmar Ratio Rank: 9
GABF Martin Ratio Rank: 8

GCAD

GCAD Risk / Return Rank: 56
GCAD Sharpe Ratio Rank: 59
GCAD Sortino Ratio Rank: 62
GCAD Omega Ratio Rank: 56
GCAD Calmar Ratio Rank: 52
GCAD Martin Ratio Rank: 52

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.

GABF vs. GCAD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gabelli Financial Services Opportunities ETF (GABF) and Gabelli Commercial Aerospace & Defense ETF (GCAD). 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	GCAD	Difference
Sharpe ratio: Return per unit of total volatility	-0.07	1.96	-2.03
Sortino ratio: Return per unit of downside risk	0.03	2.84	-2.81
Omega ratio: Gain probability vs. loss probability	1.00	1.34	-0.34
Calmar ratio: Return relative to maximum drawdown	-0.07	2.53	-2.60
Martin ratio: Return relative to average drawdown	-0.16	8.74	-8.90
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GABF vs. GCAD - Sharpe Ratio Comparison

The current GABF Sharpe Ratio is -0.07, which is lower than the GCAD Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of GABF and GCAD, 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

	GABF	GCAD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.07	1.96	-2.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.90	1.61	-0.71

Drawdowns

GABF vs. GCAD - Drawdown Comparison

The maximum GABF drawdown since its inception was -20.86%, which is greater than GCAD's maximum drawdown of -16.14%. Use the drawdown chart below to compare losses from any high point for GABF and GCAD.

Drawdown Indicators

	GABF	GCAD	Difference
Max Drawdown Largest peak-to-trough decline	-20.86%	-16.14%	-4.72%
Max Drawdown (1Y) Largest decline over 1 year	-17.16%	-14.96%	-2.20%
Max Drawdown (3Y) Largest decline over 3 years	-20.86%	-16.14%	-4.72%
Current Drawdown Current decline from peak	-9.45%	-3.51%	-5.94%
Average Drawdown Average peak-to-trough decline	-4.86%	-3.03%	-1.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.29%	4.33%	+2.96%

Volatility

GABF vs. GCAD - Volatility Comparison

The current volatility for Gabelli Financial Services Opportunities ETF (GABF) is 4.98%, while Gabelli Commercial Aerospace & Defense ETF (GCAD) has a volatility of 7.49%. This indicates that GABF experiences smaller price fluctuations and is considered to be less risky than GCAD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GABF	GCAD	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.98%	7.49%	-2.51%
Volatility (6M) Calculated over the trailing 6-month period	13.36%	16.50%	-3.14%
Volatility (1Y) Calculated over the trailing 1-year period	17.53%	19.37%	-1.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.57%	18.53%	+2.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.57%	18.53%	+2.04%

GABF vs. GCAD - Expense Ratio Comparison

GABF has a 0.10% expense ratio, which is higher than GCAD's 0.00% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

GABF vs. GCAD - Dividend Comparison

GABF's dividend yield for the trailing twelve months is around 2.06%, more than GCAD's 1.76% yield.

Position	TTM	2025	2024	2023	2022
GABF Gabelli Financial Services Opportunities ETF	2.06%	1.96%	4.19%	4.95%	1.31%
GCAD Gabelli Commercial Aerospace & Defense ETF	1.76%	2.06%	4.94%	3.62%	0.00%

Frequently Asked Questions

Can I hold both GABF and GCAD in my portfolio?

GABF and GCAD have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GABF or GCAD?

GCAD has higher volatility (7.49%) compared to GABF (4.98%). In terms of maximum drawdown, GABF dropped -20.86% vs GCAD's -16.14%.

Which ETF is better, GABF or GCAD?

On 3-year performance, GCAD leads with 35.11% vs 21.78% for GABF. On fees, GCAD is cheaper at 0.00% per year. On volatility, GABF has been the lower-risk option at 4.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GABF or GCAD?

Over the 3-year period, GCAD has performed better with a 35.11% return vs 21.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GABF or GCAD?

GCAD is cheaper with a 0.00% expense ratio, compared with 0.10% for GABF.

Which ETF pays a higher dividend yield, GABF or GCAD?

GABF has the higher dividend yield at 2.06%, compared with 1.76% for GCAD.

What is the main difference between GABF and GCAD?

GABF is categorized as Financials Equities, while GCAD is Aerospace & Defense. Their fees differ too: 0.10% for GABF and 0.00% for GCAD.

Which has better risk-adjusted returns?

GCAD currently has the higher Sharpe Ratio (1.96 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.