IAK vs. GABF

Last updated Jun 4, 2026

IAK (iShares U.S. Insurance ETF) and GABF (Gabelli Financial Services Opportunities ETF) are both Financials Equities funds. IAK is passively managed, while GABF is actively managed. Over the past 3 years, IAK returned 16.73%/yr vs 20.47%/yr for GABF. A 0.61 correlation means they provide meaningful diversification when combined. IAK charges 0.43%/yr vs 0.10%/yr for GABF.

Performance

IAK vs. GABF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Insurance ETF (IAK) and Gabelli Financial Services Opportunities ETF (GABF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IAK achieves a -4.56% return, which is significantly higher than GABF's -7.03% return.

IAK

• 1D: -0.88%
• 1M: -2.27%
• YTD: -4.56%
• 6M: -1.81%
• 1Y: -4.16%
• 3Y*: 16.73%
• 5Y*: 11.50%
• 10Y*: 11.66%

GABF

• 1D: -1.89%
• 1M: -3.11%
• YTD: -7.03%
• 6M: -6.24%
• 1Y: -3.20%
• 3Y*: 20.47%
• 5Y*: —
• 10Y*: —

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

IAK vs. GABF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
IAK iShares U.S. Insurance ETF	-4.56%	9.50%	28.25%	11.28%	9.49%
GABF Gabelli Financial Services Opportunities ETF	-7.03%	3.60%	44.38%	38.92%	0.40%

Correlation

The correlation between IAK and GABF is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (All Time) Calculated using the full available price history since May 11, 2022	0.61

The correlation between IAK and GABF shifts across timeframes, from 0.48 (1 year) to 0.61 (all time), reflecting how their relationship changes across market environments.

IAK vs. GABF - Sectors Allocation Comparison

Sectors	IAK	GABF
Financial Services	99.5%	84.6%
Healthcare	0.5%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Industrials	-	4.6%
Real Estate	-	6.0%
Technology	-	4.9%
Utilities	-	-

Return for Risk

IAK vs. GABF — Risk / Return Rank

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

IAK

IAK Risk / Return Rank: 5
IAK Sharpe Ratio Rank: 6
IAK Sortino Ratio Rank: 6
IAK Omega Ratio Rank: 5
IAK Calmar Ratio Rank: 4
IAK Martin Ratio Rank: 3

GABF

GABF Risk / Return Rank: 7
GABF Sharpe Ratio Rank: 7
GABF Sortino Ratio Rank: 6
GABF Omega Ratio Rank: 6
GABF Calmar Ratio Rank: 7
GABF Martin Ratio Rank: 7

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.

IAK vs. GABF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Insurance ETF (IAK) and Gabelli Financial Services Opportunities ETF (GABF). 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.

	IAK	GABF	Difference
Sharpe ratio: Return per unit of total volatility	-0.28	-0.19	-0.10
Sortino ratio: Return per unit of downside risk	-0.29	-0.13	-0.16
Omega ratio: Gain probability vs. loss probability	0.97	0.98	-0.02
Calmar ratio: Return relative to maximum drawdown	-0.55	-0.19	-0.36
Martin ratio: Return relative to average drawdown	-1.14	-0.44	-0.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IAK vs. GABF - Sharpe Ratio Comparison

The current IAK Sharpe Ratio is -0.28, which is lower than the GABF Sharpe Ratio of -0.19. The chart below compares the historical Sharpe Ratios of IAK and GABF, 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

	IAK	GABF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.28	-0.19	-0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.64	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.26	0.87	-0.61

Drawdowns

IAK vs. GABF - Drawdown Comparison

The maximum IAK drawdown since its inception was -77.38%, which is greater than GABF's maximum drawdown of -20.86%. Use the drawdown chart below to compare losses from any high point for IAK and GABF.

Drawdown Indicators

	IAK	GABF	Difference
Max Drawdown Largest peak-to-trough decline	-77.38%	-20.86%	-56.52%
Max Drawdown (1Y) Largest decline over 1 year	-7.62%	-17.16%	+9.54%
Max Drawdown (3Y) Largest decline over 3 years	-11.58%	-20.86%	+9.28%
Max Drawdown (5Y) Largest decline over 5 years	-14.76%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-44.95%	—	—
Current Drawdown Current decline from peak	-5.82%	-11.60%	+5.78%
Average Drawdown Average peak-to-trough decline	-16.13%	-4.86%	-11.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.96%	7.27%	-3.31%

Volatility

IAK vs. GABF - Volatility Comparison

The current volatility for iShares U.S. Insurance ETF (IAK) is 3.82%, while Gabelli Financial Services Opportunities ETF (GABF) has a volatility of 4.28%. This indicates that IAK experiences smaller price fluctuations and is considered to be less risky than GABF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IAK	GABF	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.82%	4.28%	-0.46%
Volatility (6M) Calculated over the trailing 6-month period	9.98%	13.14%	-3.16%
Volatility (1Y) Calculated over the trailing 1-year period	14.77%	17.37%	-2.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.07%	20.54%	-2.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.89%	20.54%	+0.35%

IAK vs. GABF - Expense Ratio Comparison

IAK has a 0.43% expense ratio, which is higher than GABF's 0.10% expense ratio.

Dividends

IAK vs. GABF - Dividend Comparison

IAK's dividend yield for the trailing twelve months is around 2.76%, more than GABF's 2.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GABF Gabelli Financial Services Opportunities ETF	2.11%	1.96%	4.19%	4.95%	1.31%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IAK iShares U.S. Insurance ETF	2.76%	1.69%	1.49%	1.44%	1.69%	2.26%	2.07%	1.84%	2.33%	1.62%	1.68%	1.62%

Frequently Asked Questions

Can I hold both IAK and GABF in my portfolio?

IAK and GABF have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IAK or GABF?

GABF has higher volatility (4.28%) compared to IAK (3.82%). In terms of maximum drawdown, IAK dropped -77.38% vs GABF's -20.86%.

Which ETF is better, IAK or GABF?

On 3-year performance, GABF leads with 20.47% vs 16.73% for IAK. On fees, GABF is cheaper at 0.10% per year. On volatility, IAK has been the lower-risk option at 3.82%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IAK or GABF?

Over the 3-year period, GABF has performed better with a 20.47% return vs 16.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IAK or GABF?

GABF is cheaper with a 0.10% expense ratio, compared with 0.43% for IAK.

Which ETF pays a higher dividend yield, IAK or GABF?

IAK has the higher dividend yield at 2.76%, compared with 2.11% for GABF.

What is the main difference between IAK and GABF?

They also come from different issuers: iShares and Gabelli. Their fees differ too: 0.43% for IAK and 0.10% for GABF.

Which has better risk-adjusted returns?

GABF currently has the higher Sharpe Ratio (-0.19 vs -0.28), 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.