HERO vs. GGMMX

Last updated Jun 24, 2026

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

Performance

HERO vs. GGMMX - Performance Comparison

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

Returns By Period

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

HERO

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

GGMMX

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

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

HERO vs. GGMMX - Yearly Performance Comparison

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

Correlation

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

Return for Risk

HERO vs. GGMMX — Risk / Return Rank

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

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

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

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.

HERO vs. GGMMX - Risk-Adjusted Trends Comparison

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

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

HERO vs. GGMMX - Sharpe Ratio Comparison

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

HERO vs. GGMMX - Drawdown Comparison

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

Drawdown Indicators

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

Volatility

HERO vs. GGMMX - Volatility Comparison

The current volatility for Global X Video Games & Esports ETF (HERO) is 4.32%, while Gabelli Global Mini MitesTM Fund (GGMMX) has a volatility of 5.06%. This indicates that HERO experiences smaller price fluctuations and is considered to be less risky than GGMMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

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

HERO vs. GGMMX - Expense Ratio Comparison

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

Dividends

HERO vs. GGMMX - Dividend Comparison

HERO's dividend yield for the trailing twelve months is around 2.00%, less than GGMMX's 5.70% 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 HERO and GGMMX in my portfolio?

HERO and GGMMX 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, HERO or GGMMX?

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

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.