GGMMX vs. TAVFX

Last updated Jun 24, 2026

GGMMX (Gabelli Global Mini MitesTM Fund) and TAVFX (Third Avenue Value Fund) are both Global Equities funds. Over the past 5 years, GGMMX returned 7.31%/yr vs 15.02%/yr for TAVFX. A 0.69 correlation means they provide meaningful diversification when combined. GGMMX charges 0.90%/yr vs 1.15%/yr for TAVFX.

Performance

GGMMX vs. TAVFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Gabelli Global Mini MitesTM Fund (GGMMX) and Third Avenue Value Fund (TAVFX). 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 TAVFX's 10.91% return.

GGMMX

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

TAVFX

• 1D: -0.31%
• 1M: -2.08%
• YTD: 10.91%
• 6M: 10.76%
• 1Y: 38.11%
• 3Y*: 18.25%
• 5Y*: 15.02%
• 10Y*: 11.06%

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

GGMMX vs. TAVFX - 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%	3.52%
TAVFX Third Avenue Value Fund	10.91%	35.93%	-2.43%	20.26%	17.46%	22.39%	7.76%	2.61%

Correlation

The correlation between GGMMX and TAVFX is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (All Time) Calculated using the full available price history since May 20, 2019	0.69

The correlation between GGMMX and TAVFX has been stable across timeframes, ranging from 0.60 to 0.69 - a consistent structural relationship.

Return for Risk

GGMMX vs. TAVFX — 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

TAVFX

TAVFX Risk / Return Rank: 75
TAVFX Sharpe Ratio Rank: 80
TAVFX Sortino Ratio Rank: 74
TAVFX Omega Ratio Rank: 69
TAVFX Calmar Ratio Rank: 78
TAVFX Martin Ratio Rank: 75

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. TAVFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gabelli Global Mini MitesTM Fund (GGMMX) and Third Avenue Value Fund (TAVFX). 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	TAVFX	Difference
Sharpe ratio: Return per unit of total volatility	2.44	2.43	+0.02
Sortino ratio: Return per unit of downside risk	3.52	3.29	+0.23
Omega ratio: Gain probability vs. loss probability	1.41	1.42	-0.01
Calmar ratio: Return relative to maximum drawdown	4.29	3.34	+0.95
Martin ratio: Return relative to average drawdown	14.69	13.26	+1.43

GGMMX vs. TAVFX - Sharpe Ratio Comparison

The current GGMMX Sharpe Ratio is 2.44, which is comparable to the TAVFX Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of GGMMX and TAVFX, 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. TAVFX - Drawdown Comparison

The maximum GGMMX drawdown since its inception was -40.23%, smaller than the maximum TAVFX drawdown of -66.11%. Use the drawdown chart below to compare losses from any high point for GGMMX and TAVFX.

Drawdown Indicators

	GGMMX	TAVFX	Difference
Max Drawdown Largest peak-to-trough decline	-40.23%	-66.11%	+25.88%
Max Drawdown (1Y) Largest decline over 1 year	-8.11%	-11.48%	+3.37%
Max Drawdown (3Y) Largest decline over 3 years	-23.46%	-66.11%	+42.65%
Max Drawdown (5Y) Largest decline over 5 years	-30.80%	-66.11%	+35.31%
Max Drawdown (10Y) Largest decline over 10 years	—	-66.11%	—
Current Drawdown Current decline from peak	-1.09%	-4.62%	+3.53%
Average Drawdown Average peak-to-trough decline	-9.77%	-9.56%	-0.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.37%	2.89%	-0.52%

Volatility

GGMMX vs. TAVFX - Volatility Comparison

Gabelli Global Mini MitesTM Fund (GGMMX) and Third Avenue Value Fund (TAVFX) have volatilities of 5.06% and 5.15%, 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

	GGMMX	TAVFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.06%	5.15%	-0.09%
Volatility (6M) Calculated over the trailing 6-month period	10.78%	11.52%	-0.74%
Volatility (1Y) Calculated over the trailing 1-year period	14.30%	15.84%	-1.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.85%	82.03%	-64.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.04%	60.33%	-40.29%

GGMMX vs. TAVFX - Expense Ratio Comparison

GGMMX has a 0.90% expense ratio, which is lower than TAVFX's 1.15% expense ratio.

Dividends

GGMMX vs. TAVFX - Dividend Comparison

GGMMX's dividend yield for the trailing twelve months is around 5.70%, less than TAVFX's 6.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GGMMX Gabelli Global Mini MitesTM Fund	5.70%	6.77%	0.00%	11.14%	6.22%	14.98%	0.54%	3.96%	0.00%	0.00%	0.00%	0.00%
TAVFX Third Avenue Value Fund	6.25%	6.93%	9.86%	4.48%	5.67%	3.74%	0.70%	5.95%	4.45%	3.03%	8.24%	8.43%

Frequently Asked Questions

Can I hold both GGMMX and TAVFX in my portfolio?

GGMMX and TAVFX have a correlation of 0.68, 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 TAVFX?

TAVFX has higher volatility (5.15%) compared to GGMMX (5.06%). In terms of maximum drawdown, GGMMX dropped -40.23% vs TAVFX's -66.11%.

Which has better risk-adjusted returns?

GGMMX currently has the higher Sharpe Ratio (2.44 vs 2.43), 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.