GICPX vs. GAFSX

Last updated Jun 5, 2026

GICPX (Gabelli Global Growth Fund) and GAFSX (Gabelli Global Financial Services Fund Class AAA) are both mutual funds - GICPX is a Global Equities fund managed by Gabelli, while GAFSX is a Financials Equities fund actively managed by Gabelli. Over the past 5 years, GICPX returned 7.87%/yr vs 15.23%/yr for GAFSX. A 0.50 correlation means they provide meaningful diversification when combined. GICPX charges 0.90%/yr vs 1.25%/yr for GAFSX.

Performance

GICPX vs. GAFSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Gabelli Global Growth Fund (GICPX) and Gabelli Global Financial Services Fund Class AAA (GAFSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GICPX achieves a 4.13% return, which is significantly higher than GAFSX's 3.84% return.

GICPX

• 1D: -0.88%
• 1M: 2.35%
• YTD: 4.13%
• 6M: 4.08%
• 1Y: 13.03%
• 3Y*: 18.25%
• 5Y*: 7.87%
• 10Y*: 13.17%

GAFSX

• 1D: -1.22%
• 1M: 0.60%
• YTD: 3.84%
• 6M: 7.61%
• 1Y: 28.14%
• 3Y*: 27.84%
• 5Y*: 15.23%
• 10Y*: —

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

GICPX vs. GAFSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
GICPX Gabelli Global Growth Fund	4.13%	13.90%	26.70%	34.47%	-37.45%	21.09%	35.45%	30.76%	-14.23%
GAFSX Gabelli Global Financial Services Fund Class AAA	3.84%	36.22%	27.78%	25.43%	-11.28%	28.74%	-1.51%	8.88%	0.34%

Correlation

The correlation between GICPX and GAFSX is 0.55, 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	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (5Y) Calculated over the trailing 5-year period	0.56
Correlation (All Time) Calculated using the full available price history since Oct 3, 2018	0.50

The correlation between GICPX and GAFSX has been stable across timeframes, ranging from 0.49 to 0.56 - a consistent structural relationship.

Return for Risk

GICPX vs. GAFSX — Risk / Return Rank

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

GICPX

GICPX Risk / Return Rank: 14
GICPX Sharpe Ratio Rank: 15
GICPX Sortino Ratio Rank: 15
GICPX Omega Ratio Rank: 13
GICPX Calmar Ratio Rank: 12
GICPX Martin Ratio Rank: 16

GAFSX

GAFSX Risk / Return Rank: 56
GAFSX Sharpe Ratio Rank: 57
GAFSX Sortino Ratio Rank: 61
GAFSX Omega Ratio Rank: 52
GAFSX Calmar Ratio Rank: 62
GAFSX Martin Ratio Rank: 47

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.

GICPX vs. GAFSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gabelli Global Growth Fund (GICPX) and Gabelli Global Financial Services Fund Class AAA (GAFSX). 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.

	GICPX	GAFSX	Difference
Sharpe ratio: Return per unit of total volatility	1.04	2.18	-1.14
Sortino ratio: Return per unit of downside risk	1.54	3.21	-1.67
Omega ratio: Gain probability vs. loss probability	1.19	1.39	-0.20
Calmar ratio: Return relative to maximum drawdown	1.11	2.95	-1.85
Martin ratio: Return relative to average drawdown	4.42	9.61	-5.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GICPX vs. GAFSX - Sharpe Ratio Comparison

The current GICPX Sharpe Ratio is 1.04, which is lower than the GAFSX Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of GICPX and GAFSX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GICPX	GAFSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.04	2.18	-1.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	0.88	-0.52
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.64	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.66	-0.16

Drawdowns

GICPX vs. GAFSX - Drawdown Comparison

The maximum GICPX drawdown since its inception was -72.92%, which is greater than GAFSX's maximum drawdown of -46.40%. Use the drawdown chart below to compare losses from any high point for GICPX and GAFSX.

Drawdown Indicators

	GICPX	GAFSX	Difference
Max Drawdown Largest peak-to-trough decline	-72.92%	-46.40%	-26.52%
Max Drawdown (1Y) Largest decline over 1 year	-12.45%	-9.47%	-2.98%
Max Drawdown (3Y) Largest decline over 3 years	-18.66%	-14.49%	-4.17%
Max Drawdown (5Y) Largest decline over 5 years	-43.93%	-28.21%	-15.72%
Max Drawdown (10Y) Largest decline over 10 years	-43.93%	—	—
Current Drawdown Current decline from peak	-1.21%	-2.19%	+0.98%
Average Drawdown Average peak-to-trough decline	-22.12%	-7.67%	-14.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.11%	2.90%	+0.21%

Volatility

GICPX vs. GAFSX - Volatility Comparison

Gabelli Global Growth Fund (GICPX) and Gabelli Global Financial Services Fund Class AAA (GAFSX) have volatilities of 3.43% and 3.53%, 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

	GICPX	GAFSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.43%	3.53%	-0.10%
Volatility (6M) Calculated over the trailing 6-month period	10.69%	9.52%	+1.17%
Volatility (1Y) Calculated over the trailing 1-year period	13.21%	12.80%	+0.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.13%	17.41%	+4.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.76%	21.83%	-1.07%

GICPX vs. GAFSX - Expense Ratio Comparison

GICPX has a 0.90% expense ratio, which is lower than GAFSX's 1.25% expense ratio.

Dividends

GICPX vs. GAFSX - Dividend Comparison

GICPX's dividend yield for the trailing twelve months is around 13.30%, more than GAFSX's 1.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GAFSX Gabelli Global Financial Services Fund Class AAA	1.65%	1.71%	2.22%	2.45%	2.66%	1.94%	1.35%	2.26%	0.34%	0.00%	0.00%	0.00%
GICPX Gabelli Global Growth Fund	13.30%	13.85%	0.00%	0.30%	0.18%	4.21%	2.37%	10.11%	8.42%	3.16%	7.08%	5.73%

Frequently Asked Questions

Can I hold both GICPX and GAFSX in my portfolio?

GICPX and GAFSX have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GICPX or GAFSX?

GAFSX has higher volatility (3.53%) compared to GICPX (3.43%). In terms of maximum drawdown, GICPX dropped -72.92% vs GAFSX's -46.40%.

Which has better risk-adjusted returns?

GAFSX currently has the higher Sharpe Ratio (2.18 vs 1.04), 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.