GBHI vs. GCAD

Last updated Jun 6, 2026

GBHI (Gabelli High Income ETF) and GCAD (Gabelli Commercial Aerospace & Defense ETF) are both exchange-traded funds - GBHI is a High Yield Bonds fund actively managed by Gabelli, while GCAD is a Aerospace & Defense fund actively managed by Gabelli. Both are actively managed. A 0.58 correlation means they provide meaningful diversification when combined. GBHI charges 0.55%/yr vs 0.00%/yr for GCAD.

Performance

GBHI vs. GCAD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Gabelli High Income ETF (GBHI) 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, GBHI achieves a 1.77% return, which is significantly lower than GCAD's 15.34% return.

GBHI

• 1D: -0.39%
• 1M: -0.24%
• YTD: 1.77%
• 6M: 2.11%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GCAD

• 1D: -1.44%
• 1M: 2.04%
• YTD: 15.34%
• 6M: 19.90%
• 1Y: 36.09%
• 3Y*: 33.96%
• 5Y*: —
• 10Y*: —

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

GBHI vs. GCAD - Yearly Performance Comparison

	2026 (YTD)	2025
GBHI Gabelli High Income ETF	1.77%	1.29%
GCAD Gabelli Commercial Aerospace & Defense ETF	15.34%	6.60%

Correlation

The correlation between GBHI and GCAD is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 18, 2025	0.58

Return for Risk

GBHI vs. GCAD — Risk / Return Rank

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

GCAD

GCAD Risk / Return Rank: 56
GCAD Sharpe Ratio Rank: 58
GCAD Sortino Ratio Rank: 62
GCAD Omega Ratio Rank: 56
GCAD Calmar Ratio Rank: 51
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.

GBHI vs. GCAD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gabelli High Income ETF (GBHI) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	GBHI	GCAD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.73	1.58	+0.15

Drawdowns

GBHI vs. GCAD - Drawdown Comparison

The maximum GBHI drawdown since its inception was -2.12%, smaller than the maximum GCAD drawdown of -16.14%. Use the drawdown chart below to compare losses from any high point for GBHI and GCAD.

Drawdown Indicators

	GBHI	GCAD	Difference
Max Drawdown Largest peak-to-trough decline	-2.12%	-16.14%	+14.02%
Max Drawdown (1Y) Largest decline over 1 year	—	-14.96%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-16.14%	—
Current Drawdown Current decline from peak	-0.43%	-4.89%	+4.46%
Average Drawdown Average peak-to-trough decline	-0.27%	-3.03%	+2.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.34%	—

Volatility

Volatility by Period

	GBHI	GCAD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.85%	—
Volatility (6M) Calculated over the trailing 6-month period	—	16.58%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.34%	19.42%	-16.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.34%	18.54%	-15.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.34%	18.54%	-15.20%

GBHI vs. GCAD - Expense Ratio Comparison

GBHI has a 0.55% expense ratio, which is higher than GCAD's 0.00% expense ratio.

Dividends

GBHI vs. GCAD - Dividend Comparison

GBHI's dividend yield for the trailing twelve months is around 1.85%, more than GCAD's 1.79% yield.

Position	TTM	2025	2024	2023
GBHI Gabelli High Income ETF	1.85%	0.59%	0.00%	0.00%
GCAD Gabelli Commercial Aerospace & Defense ETF	1.79%	2.06%	4.94%	3.62%

Frequently Asked Questions

Can I hold both GBHI and GCAD in my portfolio?

GBHI and GCAD have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GBHI or GCAD?

On fees, GCAD is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GBHI or GCAD?

GCAD is cheaper with a 0.00% expense ratio, compared with 0.55% for GBHI.

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

GBHI has the higher dividend yield at 1.85%, compared with 1.79% for GCAD.

What is the main difference between GBHI and GCAD?

GBHI is categorized as High Yield Bonds, while GCAD is Aerospace & Defense. Their fees differ too: 0.55% for GBHI and 0.00% for GCAD.