GGTL vs. GCAD

Last updated Jun 26, 2026

GGTL (Gabelli Global Technology Leaders ETF) and GCAD (Gabelli Commercial Aerospace & Defense ETF) are both exchange-traded funds - GGTL is a Technology Equities fund actively managed by Gabelli, while GCAD is a Aerospace & Defense fund actively managed by Gabelli. Both are actively managed. Over the past 3 years, GGTL returned 21.77%/yr vs 34.40%/yr for GCAD. A 0.67 correlation means they provide meaningful diversification when combined. GGTL charges 0.90%/yr vs 0.00%/yr for GCAD.

Performance

GGTL vs. GCAD - Performance Comparison

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

Returns By Period

In the year-to-date period, GGTL achieves a 24.82% return, which is significantly higher than GCAD's 19.65% return.

GGTL

• 1D: 1.40%
• 1M: 0.91%
• YTD: 24.82%
• 6M: 24.68%
• 1Y: 41.24%
• 3Y*: 21.77%
• 5Y*: —
• 10Y*: —

GCAD

• 1D: 0.63%
• 1M: 3.01%
• YTD: 19.65%
• 6M: 18.05%
• 1Y: 37.67%
• 3Y*: 34.40%
• 5Y*: —
• 10Y*: —

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

GGTL vs. GCAD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
GGTL Gabelli Global Technology Leaders ETF	24.82%	19.78%	11.07%	17.08%
GCAD Gabelli Commercial Aerospace & Defense ETF	19.65%	39.28%	26.61%	17.37%

Correlation

The correlation between GGTL and GCAD is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (All Time) Calculated using the full available price history since Jan 4, 2023	0.67

Over the past year, the correlation between GGTL and GCAD has dropped to 0.46 - well below their long-term average of 0.67, suggesting their price drivers have been diverging.

GGTL vs. GCAD - Sectors Allocation Comparison

Sectors	GGTL	GCAD
Technology	55.5%	2.9%
Communication Services	2.9%	-
Consumer Cyclical	0.9%	6.6%
Industrials	0.1%	77.7%
Basic Materials	-	0.7%
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	0.6%
Utilities	-	-

Return for Risk

GGTL vs. GCAD — Risk / Return Rank

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

GGTL

GGTL Risk / Return Rank: 79
GGTL Sharpe Ratio Rank: 76
GGTL Sortino Ratio Rank: 69
GGTL Omega Ratio Rank: 75
GGTL Calmar Ratio Rank: 88
GGTL Martin Ratio Rank: 84

GCAD

GCAD Risk / Return Rank: 63
GCAD Sharpe Ratio Rank: 65
GCAD Sortino Ratio Rank: 71
GCAD Omega Ratio Rank: 63
GCAD Calmar Ratio Rank: 59
GCAD Martin Ratio Rank: 56

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.

GGTL vs. GCAD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gabelli Global Technology Leaders ETF (GGTL) and Gabelli Commercial Aerospace & Defense ETF (GCAD). 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.

	GGTL	GCAD	Difference
Sharpe ratio: Return per unit of total volatility	2.13	1.86	+0.27
Sortino ratio: Return per unit of downside risk	2.78	2.79	-0.01
Omega ratio: Gain probability vs. loss probability	1.39	1.33	+0.06
Calmar ratio: Return relative to maximum drawdown	4.51	2.53	+1.98
Martin ratio: Return relative to average drawdown	15.19	8.63	+6.56

GGTL vs. GCAD - Sharpe Ratio Comparison

The current GGTL Sharpe Ratio is 2.13, which is comparable to the GCAD Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of GGTL and GCAD, 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

GGTL vs. GCAD - Drawdown Comparison

The maximum GGTL drawdown since its inception was -23.65%, which is greater than GCAD's maximum drawdown of -16.14%. Use the drawdown chart below to compare losses from any high point for GGTL and GCAD.

Drawdown Indicators

	GGTL	GCAD	Difference
Max Drawdown Largest peak-to-trough decline	-23.65%	-16.14%	-7.51%
Max Drawdown (1Y) Largest decline over 1 year	-9.20%	-14.96%	+5.76%
Max Drawdown (3Y) Largest decline over 3 years	-21.46%	-16.14%	-5.32%
Current Drawdown Current decline from peak	-3.88%	-1.35%	-2.53%
Average Drawdown Average peak-to-trough decline	-7.39%	-3.01%	-4.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.72%	4.38%	-1.66%

Volatility

GGTL vs. GCAD - Volatility Comparison

Gabelli Global Technology Leaders ETF (GGTL) has a higher volatility of 10.73% compared to Gabelli Commercial Aerospace & Defense ETF (GCAD) at 8.12%. This indicates that GGTL's price experiences larger fluctuations and is considered to be riskier than GCAD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GGTL	GCAD	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.73%	8.12%	+2.61%
Volatility (6M) Calculated over the trailing 6-month period	16.89%	17.46%	-0.57%
Volatility (1Y) Calculated over the trailing 1-year period	19.47%	20.37%	-0.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.19%	18.73%	-0.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.19%	18.73%	-0.54%

GGTL vs. GCAD - Expense Ratio Comparison

GGTL has a 0.90% expense ratio, which is higher than GCAD's 0.00% expense ratio.

Dividends

GGTL vs. GCAD - Dividend Comparison

GGTL's dividend yield for the trailing twelve months is around 0.83%, less than GCAD's 1.72% yield.

Position	TTM	2025	2024	2023	2022
GCAD Gabelli Commercial Aerospace & Defense ETF	1.72%	2.06%	4.94%	3.62%	0.00%
GGTL Gabelli Global Technology Leaders ETF	0.83%	1.04%	0.75%	0.84%	0.78%

Frequently Asked Questions

Can I hold both GGTL and GCAD in my portfolio?

GGTL and GCAD have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GGTL or GCAD?

GGTL has higher volatility (10.73%) compared to GCAD (8.12%). In terms of maximum drawdown, GGTL dropped -23.65% vs GCAD's -16.14%.

Which ETF is better, GGTL or GCAD?

On 3-year performance, GCAD leads with 34.40% vs 21.77% for GGTL. On fees, GCAD is cheaper at 0.00% per year. On volatility, GCAD has been the lower-risk option at 8.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GGTL or GCAD?

Over the 3-year period, GCAD has performed better with a 34.40% return vs 21.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GGTL or GCAD?

GCAD is cheaper with a 0.00% expense ratio, compared with 0.90% for GGTL.

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

GCAD has the higher dividend yield at 1.72%, compared with 0.83% for GGTL.

What is the main difference between GGTL and GCAD?

GGTL is categorized as Technology Equities, while GCAD is Aerospace & Defense. Their fees differ too: 0.90% for GGTL and 0.00% for GCAD.

Which has better risk-adjusted returns?

GGTL currently has the higher Sharpe Ratio (2.13 vs 1.86), 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.