GCAD vs. WAR

Last updated Jun 4, 2026

GCAD (Gabelli Commercial Aerospace & Defense ETF) and WAR (U.S. Global Technology and Aerospace & Defense ETF) are both Aerospace & Defense funds. Both are actively managed. A 0.54 correlation means they provide meaningful diversification when combined. GCAD charges 0.00%/yr vs 0.60%/yr for WAR.

Performance

GCAD vs. WAR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Gabelli Commercial Aerospace & Defense ETF (GCAD) and U.S. Global Technology and Aerospace & Defense ETF (WAR). 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*: —

WAR

• 1D: -1.92%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GCAD vs. WAR - Yearly Performance Comparison

	2026 (YTD)
GCAD Gabelli Commercial Aerospace & Defense ETF	-1.61%
WAR U.S. Global Technology and Aerospace & Defense ETF	2.67%

Correlation

The correlation between GCAD and WAR is 0.54, 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 May 27, 2026	0.54

GCAD vs. WAR - Sectors Allocation Comparison

Sectors	GCAD	WAR
Industrials	78.6%	31.1%
Consumer Cyclical	6.4%	-
Technology	3.3%	63.8%
Basic Materials	0.7%	-
Real Estate	0.7%	-
Communication Services	-	2.0%
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	0.5%
Healthcare	-	-
Utilities	-	-

Return for Risk

GCAD vs. WAR — 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. WAR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gabelli Commercial Aerospace & Defense ETF (GCAD) and U.S. Global Technology and Aerospace & Defense ETF (WAR). 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	WAR	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	WAR	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	5.18	-3.62

Drawdowns

GCAD vs. WAR - Drawdown Comparison

The maximum GCAD drawdown since its inception was -16.14%, which is greater than WAR's maximum drawdown of -1.92%. Use the drawdown chart below to compare losses from any high point for GCAD and WAR.

Drawdown Indicators

	GCAD	WAR	Difference
Max Drawdown Largest peak-to-trough decline	-16.14%	-1.92%	-14.22%
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%	-1.92%	-4.00%
Average Drawdown Average peak-to-trough decline	-3.03%	-0.88%	-2.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.32%	—	—

Volatility

Volatility by Period

	GCAD	WAR	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%	42.90%	-23.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.49%	42.90%	-24.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.49%	42.90%	-24.41%

GCAD vs. WAR - Expense Ratio Comparison

GCAD has a 0.00% expense ratio, which is lower than WAR's 0.60% expense ratio.

Dividends

GCAD vs. WAR - Dividend Comparison

GCAD's dividend yield for the trailing twelve months is around 1.81%, while WAR 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%
WAR U.S. Global Technology and Aerospace & Defense ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GCAD and WAR in my portfolio?

GCAD and WAR have a correlation of 0.54, 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 WAR?

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 WAR?

GCAD is cheaper with a 0.00% expense ratio, compared with 0.60% for WAR.

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

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

What is the main difference between GCAD and WAR?

They also come from different issuers: Gabelli and US Global. Their fees differ too: 0.00% for GCAD and 0.60% for WAR.