GGMMX vs. HERO

Last updated Jun 24, 2026

GGMMX (Gabelli Global Mini MitesTM Fund) and HERO (Global X Video Games & Esports ETF) are both funds - GGMMX is a Global Equities fund managed by Gabelli, while HERO is a Large Cap Growth Equities fund tracking the Solactive Video Games & Esports Index. Over the past 5 years, GGMMX returned 7.31%/yr vs -4.68%/yr for HERO. At a 0.48 correlation, their price movements are largely independent. GGMMX charges 0.90%/yr vs 0.50%/yr for HERO.

Performance

GGMMX vs. HERO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Gabelli Global Mini MitesTM Fund (GGMMX) and Global X Video Games & Esports ETF (HERO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GGMMX achieves a 18.73% return, which is significantly higher than HERO's -19.06% return.

GGMMX

• 1D: -0.22%
• 1M: 3.65%
• YTD: 18.73%
• 6M: 18.06%
• 1Y: 34.31%
• 3Y*: 18.89%
• 5Y*: 7.31%
• 10Y*: —

HERO

• 1D: -1.41%
• 1M: -5.62%
• YTD: -19.06%
• 6M: -18.64%
• 1Y: -22.57%
• 3Y*: 7.77%
• 5Y*: -4.68%
• 10Y*: —

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

GGMMX vs. HERO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
GGMMX Gabelli Global Mini MitesTM Fund	18.73%	10.57%	1.65%	39.12%	-16.24%	19.30%	15.86%	6.50%
HERO Global X Video Games & Esports ETF	-19.06%	28.74%	17.65%	8.36%	-33.42%	-8.37%	91.02%	9.12%

Correlation

The correlation between GGMMX and HERO is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (5Y) Calculated over the trailing 5-year period	0.52
Correlation (All Time) Calculated using the full available price history since Oct 31, 2019	0.48

The correlation between GGMMX and HERO has been stable across timeframes, ranging from 0.44 to 0.52 - a consistent structural relationship.

Return for Risk

GGMMX vs. HERO — Risk / Return Rank

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

GGMMX

GGMMX Risk / Return Rank: 80
GGMMX Sharpe Ratio Rank: 80
GGMMX Sortino Ratio Rank: 81
GGMMX Omega Ratio Rank: 65
GGMMX Calmar Ratio Rank: 89
GGMMX Martin Ratio Rank: 84

HERO

HERO Risk / Return Rank: 1
HERO Sharpe Ratio Rank: 1
HERO Sortino Ratio Rank: 1
HERO Omega Ratio Rank: 1
HERO Calmar Ratio Rank: 2
HERO Martin Ratio Rank: 1

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.

GGMMX vs. HERO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gabelli Global Mini MitesTM Fund (GGMMX) and Global X Video Games & Esports ETF (HERO). 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.

	GGMMX	HERO	Difference
Sharpe ratio: Return per unit of total volatility	2.44	-1.17	+3.61
Sortino ratio: Return per unit of downside risk	3.52	-1.58	+5.10
Omega ratio: Gain probability vs. loss probability	1.41	0.81	+0.59
Calmar ratio: Return relative to maximum drawdown	4.29	-0.77	+5.07
Martin ratio: Return relative to average drawdown	14.69	-1.47	+16.15

GGMMX vs. HERO - Sharpe Ratio Comparison

The current GGMMX Sharpe Ratio is 2.44, which is higher than the HERO Sharpe Ratio of -1.17. The chart below compares the historical Sharpe Ratios of GGMMX and HERO, 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

GGMMX vs. HERO - Drawdown Comparison

The maximum GGMMX drawdown since its inception was -40.23%, smaller than the maximum HERO drawdown of -54.02%. Use the drawdown chart below to compare losses from any high point for GGMMX and HERO.

Drawdown Indicators

	GGMMX	HERO	Difference
Max Drawdown Largest peak-to-trough decline	-40.23%	-54.02%	+13.79%
Max Drawdown (1Y) Largest decline over 1 year	-8.11%	-29.33%	+21.22%
Max Drawdown (3Y) Largest decline over 3 years	-23.46%	-29.33%	+5.87%
Max Drawdown (5Y) Largest decline over 5 years	-30.80%	-48.06%	+17.26%
Current Drawdown Current decline from peak	-1.09%	-31.89%	+30.80%
Average Drawdown Average peak-to-trough decline	-9.77%	-25.98%	+16.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.37%	15.43%	-13.06%

Volatility

GGMMX vs. HERO - Volatility Comparison

Gabelli Global Mini MitesTM Fund (GGMMX) has a higher volatility of 5.06% compared to Global X Video Games & Esports ETF (HERO) at 4.32%. This indicates that GGMMX's price experiences larger fluctuations and is considered to be riskier than HERO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GGMMX	HERO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.06%	4.32%	+0.74%
Volatility (6M) Calculated over the trailing 6-month period	10.78%	15.11%	-4.33%
Volatility (1Y) Calculated over the trailing 1-year period	14.30%	19.36%	-5.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.85%	23.36%	-5.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.04%	24.43%	-4.39%

GGMMX vs. HERO - Expense Ratio Comparison

GGMMX has a 0.90% expense ratio, which is higher than HERO's 0.50% expense ratio.

Dividends

GGMMX vs. HERO - Dividend Comparison

GGMMX's dividend yield for the trailing twelve months is around 5.70%, more than HERO's 2.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
GGMMX Gabelli Global Mini MitesTM Fund	5.70%	6.77%	0.00%	11.14%	6.22%	14.98%	0.54%	3.96%
HERO Global X Video Games & Esports ETF	2.00%	1.62%	1.06%	0.73%	0.28%	0.79%	0.71%	0.17%

Frequently Asked Questions

Can I hold both GGMMX and HERO in my portfolio?

GGMMX and HERO have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GGMMX or HERO?

GGMMX has higher volatility (5.06%) compared to HERO (4.32%). In terms of maximum drawdown, GGMMX dropped -40.23% vs HERO's -54.02%.

Which has better risk-adjusted returns?

GGMMX currently has the higher Sharpe Ratio (2.44 vs -1.17), 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.