GDL vs. GAB
GDL (The GDL Fund) and GAB (The Gabelli Equity Trust Inc) are both mutual funds - GDL is a Event Driven fund managed by Gabelli, while GAB is a Large Cap Value Equities fund managed by Gabelli. Over the past 10 years, GDL returned 3.97%/yr vs 11.08%/yr for GAB. Their 0.37 correlation means their historical movements had little consistent relationship. GDL charges 0.03%/yr vs 0.01%/yr for GAB.
Performance
GDL vs. GAB - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, GDL achieves a 2.42% return, which is significantly higher than GAB's -1.89% return. Over the past 10 years, GDL has underperformed GAB with an annualized return of 3.97%, while GAB has yielded a comparatively higher 11.08% annualized return.
GDL
- 1D
- 0.60%
- 1M
- -0.30%
- 6M
- 0.45%
- YTD
- 2.42%
- 1Y
- 8.68%
- 3Y*
- 8.34%
- 5Y*
- 4.66%
- 10Y*
- 3.97%
- ALL TIME*
- 3.31%
GAB
- 1D
- 1.25%
- 1M
- 0.18%
- 6M
- -1.42%
- YTD
- -1.89%
- 1Y
- 9.18%
- 3Y*
- 13.05%
- 5Y*
- 7.40%
- 10Y*
- 11.08%
- ALL TIME*
- 7.94%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $3.59M | $4.67M | $6.04M | |
GDL The GDL Fund | $49.10K | $62.00K | $73.18K |
GDL vs. GAB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GDL The GDL Fund | 2.42% | 11.83% | 5.94% | 9.02% | -6.88% | 8.04% | -0.99% | 5.87% | -1.60% | 4.74% |
GAB The Gabelli Equity Trust Inc | -1.89% | 27.03% | 18.05% | 3.37% | -16.30% | 28.26% | 14.70% | 31.62% | -8.77% | 24.66% |
Correlation
The correlation between GDL and GAB is 0.16, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.16 |
Correlation (3Y) Balances recent behavior with more history. | 0.21 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.21 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.24 |
Correlation (All Time) Calculated using the full available price history since Apr 23, 2007 | 0.37 |
Over the past year, the correlation between GDL and GAB has dropped to 0.16 - well below their long-term average of 0.37, suggesting their price drivers have been diverging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
GDL vs. GAB — Risk / Return Rank
GDL
GAB
GDL vs. GAB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for The GDL Fund (GDL) and The Gabelli Equity Trust Inc (GAB). 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.
| GDL | GAB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.67 | ||
| Sortino ratioReturn per unit of downside risk | +0.85 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.11 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.72 | 0.72 | +2.00 |
| Martin ratioReturn relative to average drawdown | 8.75 | 1.68 | +7.06 |
Loading charts...
Drawdowns
GDL vs. GAB - Drawdown Comparison
The maximum GDL drawdown since its inception was -38.74%, smaller than the maximum GAB drawdown of -74.62%. Use the drawdown chart below to compare losses from any high point for GDL and GAB.
Loading charts...
Drawdown Indicators
| GDL | GAB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.74% | -74.62% | +35.88% |
Max Drawdown (1Y)Largest decline over 1 year | -3.21% | -12.90% | +9.69% |
Max Drawdown (3Y)Largest decline over 3 years | -6.00% | -14.84% | +8.84% |
Max Drawdown (5Y)Largest decline over 5 years | -9.48% | -26.60% | +17.12% |
Max Drawdown (10Y)Largest decline over 10 years | -38.74% | -46.92% | +8.18% |
Current DrawdownCurrent decline from peak | -0.71% | -4.83% | +4.12% |
Average DrawdownAverage peak-to-trough decline | -4.89% | -10.63% | +5.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.99% | 5.47% | -4.48% |
Volatility
GDL vs. GAB - Volatility Comparison
The current volatility for The GDL Fund (GDL) is 1.25%, while The Gabelli Equity Trust Inc (GAB) has a volatility of 4.32%. This indicates that GDL experiences smaller price fluctuations and is considered to be less risky than GAB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| GDL | GAB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.25% | 4.32% | -3.07% |
Volatility (6M)Calculated over the trailing 6-month period | 4.28% | 12.19% | -7.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.85% | 15.18% | -8.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.59% | 18.10% | -9.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.97% | 21.91% | -8.94% |
GDL vs. GAB - Expense Ratio Comparison
GDL has a 0.03% expense ratio, which is higher than GAB's 0.01% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
GDL vs. GAB - Dividend Comparison
GDL's dividend yield for the trailing twelve months is around 5.69%, less than GAB's 10.51% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GAB The Gabelli Equity Trust Inc | 10.51% | 9.72% | 11.15% | 11.81% | 10.95% | 8.72% | 9.57% | 9.85% | 12.55% | 9.80% | 10.87% | 12.05% |
GDL The GDL Fund | 5.69% | 5.67% | 5.99% | 5.97% | 6.12% | 5.38% | 5.28% | 4.30% | 4.36% | 5.96% | 6.50% | 6.39% |
Frequently Asked Questions
GDL and GAB have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GAB has higher volatility (4.32%) compared to GDL (1.25%). In terms of maximum drawdown, GDL dropped -38.74% vs GAB's -74.62%.
GDL currently has the higher Sharpe Ratio (1.28 vs 0.61), 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.
Find the right allocation for GDL and GAB
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer