GABF vs. NZAC
GABF (Gabelli Financial Services Opportunities ETF) and NZAC (SPDR MSCI ACWI Climate Paris Aligned ETF) are both exchange-traded funds - GABF is a Financials Equities fund actively managed by Gabelli, while NZAC is a Global Equities fund tracking the MSCI ACWI Climate Paris Aligned Index. GABF is actively managed, while NZAC is passively managed. Over the past 3 years, GABF returned 21.50%/yr vs 17.81%/yr for NZAC. A 0.72 correlation means they provide meaningful diversification when combined. GABF charges 0.10%/yr vs 0.12%/yr for NZAC.
Performance
GABF vs. NZAC - Performance Comparison
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Returns By Period
In the year-to-date period, GABF achieves a -4.42% return, which is significantly lower than NZAC's 6.02% return.
GABF
- 1D
- -0.39%
- 1M
- 0.90%
- YTD
- -4.42%
- 6M
- -5.68%
- 1Y
- -1.50%
- 3Y*
- 21.50%
- 5Y*
- —
- 10Y*
- —
NZAC
- 1D
- -1.70%
- 1M
- -1.26%
- YTD
- 6.02%
- 6M
- 5.37%
- 1Y
- 20.66%
- 3Y*
- 17.81%
- 5Y*
- 9.25%
- 10Y*
- 12.17%
GABF vs. NZAC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GABF Gabelli Financial Services Opportunities ETF | -4.42% | 3.60% | 44.38% | 38.92% | -0.04% |
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF | 6.02% | 20.55% | 16.67% | 23.22% | -2.04% |
Correlation
The correlation between GABF and NZAC is 0.62, 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 | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since May 10, 2022 | 0.72 |
The correlation between GABF and NZAC has been stable across timeframes, ranging from 0.62 to 0.72 - a consistent structural relationship.
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Return for Risk
GABF vs. NZAC — Risk / Return Rank
GABF
NZAC
GABF vs. NZAC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Gabelli Financial Services Opportunities ETF (GABF) and SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC). 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.
| GABF | NZAC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.60 | ||
| Sortino ratioReturn per unit of downside risk | -2.14 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.27 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | -0.09 | 2.05 | -2.14 |
| Martin ratioReturn relative to average drawdown | -0.20 | 8.63 | -8.83 |
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Drawdowns
GABF vs. NZAC - Drawdown Comparison
The maximum GABF drawdown since its inception was -20.86%, smaller than the maximum NZAC drawdown of -33.72%. Use the drawdown chart below to compare losses from any high point for GABF and NZAC.
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Drawdown Indicators
| GABF | NZAC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.86% | -33.72% | +12.86% |
Max Drawdown (1Y)Largest decline over 1 year | -17.16% | -10.10% | -7.06% |
Max Drawdown (3Y)Largest decline over 3 years | -20.86% | -16.19% | -4.67% |
Max Drawdown (5Y)Largest decline over 5 years | — | -28.31% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.72% | — |
Current DrawdownCurrent decline from peak | -9.12% | -3.38% | -5.74% |
Average DrawdownAverage peak-to-trough decline | -4.90% | -5.31% | +0.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.55% | 2.40% | +5.15% |
Volatility
GABF vs. NZAC - Volatility Comparison
The current volatility for Gabelli Financial Services Opportunities ETF (GABF) is 4.38%, while SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC) has a volatility of 5.41%. This indicates that GABF experiences smaller price fluctuations and is considered to be less risky than NZAC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GABF | NZAC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.38% | 5.41% | -1.03% |
Volatility (6M)Calculated over the trailing 6-month period | 13.29% | 11.34% | +1.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.47% | 13.73% | +3.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.48% | 16.94% | +3.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.48% | 17.13% | +3.35% |
GABF vs. NZAC - Expense Ratio Comparison
GABF has a 0.10% expense ratio, which is lower than NZAC's 0.12% expense ratio. Despite the difference, 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. NZAC - Dividend Comparison
GABF's dividend yield for the trailing twelve months is around 2.05%, less than NZAC's 2.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GABF Gabelli Financial Services Opportunities ETF | 2.05% | 1.96% | 4.19% | 4.95% | 1.31% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF | 2.09% | 1.90% | 1.88% | 1.65% | 1.81% | 1.62% | 1.59% | 2.17% | 2.53% | 2.20% | 2.00% | 2.40% |
Frequently Asked Questions
GABF and NZAC have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NZAC has higher volatility (5.41%) compared to GABF (4.38%). In terms of maximum drawdown, GABF dropped -20.86% vs NZAC's -33.72%.
On 3-year performance, GABF leads with 21.50% vs 17.81% for NZAC. On fees, GABF is cheaper at 0.10% per year. On volatility, GABF has been the lower-risk option at 4.38%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, GABF has performed better with a 21.50% return vs 17.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GABF is cheaper with a 0.10% expense ratio, compared with 0.12% for NZAC.
NZAC has the higher dividend yield at 2.09%, compared with 2.05% for GABF.
GABF is categorized as Financials Equities, while NZAC is Global Equities. They also come from different issuers: Gabelli and State Street. Their fees differ too: 0.10% for GABF and 0.12% for NZAC.
NZAC currently has the higher Sharpe Ratio (1.52 vs -0.09), 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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