GCAD vs. ITA

Last updated Jun 24, 2026

GCAD (Gabelli Commercial Aerospace & Defense ETF) and ITA (iShares U.S. Aerospace & Defense ETF) are both Aerospace & Defense funds. GCAD is actively managed, while ITA is passively managed. Over the past 3 years, GCAD returned 34.17%/yr vs 28.50%/yr for ITA. Their correlation of 0.89 suggests significant overlap in exposure. GCAD charges 0.00%/yr vs 0.38%/yr for ITA.

Performance

GCAD vs. ITA - Performance Comparison

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

Returns By Period

In the year-to-date period, GCAD achieves a 17.90% return, which is significantly higher than ITA's 10.04% return.

GCAD

• 1D: -0.80%
• 1M: 4.43%
• YTD: 17.90%
• 6M: 15.75%
• 1Y: 37.12%
• 3Y*: 34.17%
• 5Y*: —
• 10Y*: —

ITA

• 1D: 0.18%
• 1M: 4.76%
• YTD: 10.04%
• 6M: 7.54%
• 1Y: 29.57%
• 3Y*: 28.50%
• 5Y*: 17.14%
• 10Y*: 15.66%

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

GCAD vs. ITA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
GCAD Gabelli Commercial Aerospace & Defense ETF	17.90%	39.28%	26.61%	17.37%
ITA iShares U.S. Aerospace & Defense ETF	10.04%	48.64%	15.81%	14.73%

Correlation

The correlation between GCAD and ITA is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (All Time) Calculated using the full available price history since Jan 4, 2023	0.89

The correlation between GCAD and ITA has been stable across timeframes, ranging from 0.89 to 0.91 - a consistent structural relationship.

GCAD vs. ITA - Sectors Allocation Comparison

Sectors	GCAD	ITA
Industrials	77.7%	99.6%
Consumer Cyclical	6.6%	-
Technology	2.9%	0.1%
Basic Materials	0.7%	-
Real Estate	0.6%	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Utilities	-	-

Return for Risk

GCAD vs. ITA — Risk / Return Rank

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

GCAD

GCAD Risk / Return Rank: 57
GCAD Sharpe Ratio Rank: 59
GCAD Sortino Ratio Rank: 65
GCAD Omega Ratio Rank: 56
GCAD Calmar Ratio Rank: 54
GCAD Martin Ratio Rank: 53

ITA

ITA Risk / Return Rank: 38
ITA Sharpe Ratio Rank: 40
ITA Sortino Ratio Rank: 41
ITA Omega Ratio Rank: 37
ITA Calmar Ratio Rank: 39
ITA Martin Ratio Rank: 34

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.

GCAD vs. ITA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gabelli Commercial Aerospace & Defense ETF (GCAD) and iShares U.S. Aerospace & Defense ETF (ITA). 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.

	GCAD	ITA	Difference
Sharpe ratio: Return per unit of total volatility	1.83	1.36	+0.47
Sortino ratio: Return per unit of downside risk	2.76	2.01	+0.75
Omega ratio: Gain probability vs. loss probability	1.32	1.24	+0.09
Calmar ratio: Return relative to maximum drawdown	2.49	1.88	+0.62
Martin ratio: Return relative to average drawdown	8.52	4.93	+3.59

GCAD vs. ITA - Sharpe Ratio Comparison

The current GCAD Sharpe Ratio is 1.83, which is higher than the ITA Sharpe Ratio of 1.36. The chart below compares the historical Sharpe Ratios of GCAD and ITA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GCAD vs. ITA - Drawdown Comparison

The maximum GCAD drawdown since its inception was -16.14%, smaller than the maximum ITA drawdown of -59.72%. Use the drawdown chart below to compare losses from any high point for GCAD and ITA.

Drawdown Indicators

	GCAD	ITA	Difference
Max Drawdown Largest peak-to-trough decline	-16.14%	-59.72%	+43.58%
Max Drawdown (1Y) Largest decline over 1 year	-14.96%	-15.82%	+0.86%
Max Drawdown (3Y) Largest decline over 3 years	-16.14%	-15.82%	-0.32%
Max Drawdown (5Y) Largest decline over 5 years	—	-18.72%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-51.00%	—
Current Drawdown Current decline from peak	-2.79%	-5.72%	+2.93%
Average Drawdown Average peak-to-trough decline	-3.01%	-9.45%	+6.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.37%	6.01%	-1.64%

Volatility

GCAD vs. ITA - Volatility Comparison

Gabelli Commercial Aerospace & Defense ETF (GCAD) and iShares U.S. Aerospace & Defense ETF (ITA) have volatilities of 8.50% and 8.49%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GCAD	ITA	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.50%	8.49%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	17.61%	18.48%	-0.87%
Volatility (1Y) Calculated over the trailing 1-year period	20.36%	21.90%	-1.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.76%	20.23%	-1.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.76%	23.23%	-4.47%

GCAD vs. ITA - Expense Ratio Comparison

GCAD has a 0.00% expense ratio, which is lower than ITA's 0.38% expense ratio.

Dividends

GCAD vs. ITA - Dividend Comparison

GCAD's dividend yield for the trailing twelve months is around 1.75%, more than ITA's 0.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GCAD Gabelli Commercial Aerospace & Defense ETF	1.75%	2.06%	4.94%	3.62%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ITA iShares U.S. Aerospace & Defense ETF	0.45%	0.55%	0.85%	0.93%	0.95%	0.82%	1.07%	1.54%	1.13%	0.91%	1.07%	1.04%

Frequently Asked Questions

Can I hold both GCAD and ITA in my portfolio?

With a correlation of 0.91, GCAD and ITA move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, GCAD or ITA?

GCAD has higher volatility (8.50%) compared to ITA (8.49%). In terms of maximum drawdown, GCAD dropped -16.14% vs ITA's -59.72%.

Which ETF is better, GCAD or ITA?

On 3-year performance, GCAD leads with 34.17% vs 28.50% for ITA. On fees, GCAD is cheaper at 0.00% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GCAD or ITA?

Over the 3-year period, GCAD has performed better with a 34.17% return vs 28.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GCAD or ITA?

GCAD is cheaper with a 0.00% expense ratio, compared with 0.38% for ITA.

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

GCAD has the higher dividend yield at 1.75%, compared with 0.45% for ITA.

What is the main difference between GCAD and ITA?

They also come from different issuers: Gabelli and iShares. Their fees differ too: 0.00% for GCAD and 0.38% for ITA.

Which has better risk-adjusted returns?

GCAD currently has the higher Sharpe Ratio (1.83 vs 1.36), 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.