GCAD vs. ORBX

Last updated Jun 4, 2026

GCAD (Gabelli Commercial Aerospace & Defense ETF) and ORBX (Global X Space Tech ETF) are both Aerospace & Defense funds. GCAD is actively managed, while ORBX is passively managed. A 0.59 correlation means they provide meaningful diversification when combined. GCAD charges 0.00%/yr vs 0.50%/yr for ORBX.

Performance

GCAD vs. ORBX - Performance Comparison

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

Returns By Period

GCAD

• 1D: -1.56%
• 1M: 5.29%
• YTD: 14.09%
• 6M: 19.16%
• 1Y: 35.52%
• 3Y*: 33.27%
• 5Y*: —
• 10Y*: —

ORBX

• 1D: -7.31%
• 1M: 23.50%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GCAD vs. ORBX - Yearly Performance Comparison

	2026 (YTD)
GCAD Gabelli Commercial Aerospace & Defense ETF	-1.05%
ORBX Global X Space Tech ETF	22.02%

Correlation

The correlation between GCAD and ORBX is 0.59, 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 Apr 16, 2026	0.59

Return for Risk

GCAD vs. ORBX — Risk / Return Rank

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

GCAD

GCAD Risk / Return Rank: 52
GCAD Sharpe Ratio Rank: 54
GCAD Sortino Ratio Rank: 57
GCAD Omega Ratio Rank: 52
GCAD Calmar Ratio Rank: 48
GCAD Martin Ratio Rank: 49

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. ORBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gabelli Commercial Aerospace & Defense ETF (GCAD) and Global X Space Tech ETF (ORBX). 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.

	GCAD	ORBX	Difference
Sharpe ratio: Return per unit of total volatility	1.86	—	—
Sortino ratio: Return per unit of downside risk	2.70	—	—
Omega ratio: Gain probability vs. loss probability	1.32	—	—
Calmar ratio: Return relative to maximum drawdown	2.38	—	—
Martin ratio: Return relative to average drawdown	8.24	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	GCAD	ORBX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.86	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.56	4.31	-2.75

Drawdowns

GCAD vs. ORBX - Drawdown Comparison

The maximum GCAD drawdown since its inception was -16.14%, smaller than the maximum ORBX drawdown of -18.53%. Use the drawdown chart below to compare losses from any high point for GCAD and ORBX.

Drawdown Indicators

	GCAD	ORBX	Difference
Max Drawdown Largest peak-to-trough decline	-16.14%	-18.53%	+2.39%
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	-5.92%	-18.53%	+12.61%
Average Drawdown Average peak-to-trough decline	-3.03%	-5.01%	+1.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.32%	—	—

Volatility

Volatility by Period

	GCAD	ORBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.14%	—	—
Volatility (6M) Calculated over the trailing 6-month period	16.33%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	19.25%	79.41%	-60.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.49%	79.41%	-60.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.49%	79.41%	-60.92%

GCAD vs. ORBX - Expense Ratio Comparison

GCAD has a 0.00% expense ratio, which is lower than ORBX's 0.50% expense ratio.

Dividends

GCAD vs. ORBX - Dividend Comparison

GCAD's dividend yield for the trailing twelve months is around 1.81%, while ORBX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
GCAD Gabelli Commercial Aerospace & Defense ETF	1.81%	2.06%	4.94%	3.62%
ORBX Global X Space Tech ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GCAD and ORBX in my portfolio?

GCAD and ORBX have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GCAD or ORBX?

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, GCAD or ORBX?

GCAD is cheaper with a 0.00% expense ratio, compared with 0.50% for ORBX.

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

GCAD has the higher dividend yield at 1.81%, compared with 0.00% for ORBX.

What is the main difference between GCAD and ORBX?

They also come from different issuers: Gabelli and Global X. Their fees differ too: 0.00% for GCAD and 0.50% for ORBX.