TMAT vs. GGTL

Last updated Jun 24, 2026

TMAT (Main Thematic Innovation ETF) and GGTL (Gabelli Global Technology Leaders ETF) are both Technology Equities funds. TMAT is passively managed, while GGTL is actively managed. Over the past 3 years, TMAT returned 27.57%/yr vs 21.46%/yr for GGTL. A 0.76 correlation means they provide meaningful diversification when combined. TMAT charges 1.49%/yr vs 0.90%/yr for GGTL.

Performance

TMAT vs. GGTL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Main Thematic Innovation ETF (TMAT) and Gabelli Global Technology Leaders ETF (GGTL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TMAT achieves a 18.93% return, which is significantly lower than GGTL's 23.84% return.

TMAT

• 1D: -3.52%
• 1M: 3.97%
• YTD: 18.93%
• 6M: 16.10%
• 1Y: 34.95%
• 3Y*: 27.57%
• 5Y*: 4.62%
• 10Y*: —

GGTL

• 1D: -4.64%
• 1M: 2.58%
• YTD: 23.84%
• 6M: 23.84%
• 1Y: 40.67%
• 3Y*: 21.46%
• 5Y*: —
• 10Y*: —

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

TMAT vs. GGTL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
TMAT Main Thematic Innovation ETF	18.93%	20.06%	27.20%	32.32%	-38.27%
GGTL Gabelli Global Technology Leaders ETF	23.84%	19.78%	11.07%	18.17%	-16.10%

Correlation

The correlation between TMAT and GGTL is 0.72, 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	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (All Time) Calculated using the full available price history since Jan 5, 2022	0.76

The correlation between TMAT and GGTL has been stable across timeframes, ranging from 0.72 to 0.76 - a consistent structural relationship.

TMAT vs. GGTL - Sectors Allocation Comparison

Sectors	TMAT	GGTL
Technology	53.0%	55.5%
Industrials	23.0%	0.1%
Basic Materials	11.2%	-
Healthcare	8.7%	-
Communication Services	2.4%	2.9%
Utilities	2.2%	-
Financial Services	2.1%	-
Consumer Cyclical	1.6%	0.9%
Energy	0.3%	-
Consumer Defensive	-	-
Real Estate	-	-

Return for Risk

TMAT vs. GGTL — Risk / Return Rank

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

TMAT

TMAT Risk / Return Rank: 36
TMAT Sharpe Ratio Rank: 41
TMAT Sortino Ratio Rank: 38
TMAT Omega Ratio Rank: 37
TMAT Calmar Ratio Rank: 35
TMAT Martin Ratio Rank: 29

GGTL

GGTL Risk / Return Rank: 76
GGTL Sharpe Ratio Rank: 73
GGTL Sortino Ratio Rank: 67
GGTL Omega Ratio Rank: 73
GGTL Calmar Ratio Rank: 87
GGTL Martin Ratio Rank: 83

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.

TMAT vs. GGTL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Main Thematic Innovation ETF (TMAT) and Gabelli Global Technology Leaders ETF (GGTL). 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.

	TMAT	GGTL	Difference
Sharpe ratio: Return per unit of total volatility	1.36	2.10	-0.74
Sortino ratio: Return per unit of downside risk	1.85	2.75	-0.90
Omega ratio: Gain probability vs. loss probability	1.23	1.39	-0.16
Calmar ratio: Return relative to maximum drawdown	1.62	4.44	-2.82
Martin ratio: Return relative to average drawdown	3.77	15.15	-11.38

TMAT vs. GGTL - Sharpe Ratio Comparison

The current TMAT Sharpe Ratio is 1.36, which is lower than the GGTL Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of TMAT and GGTL, 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

TMAT vs. GGTL - Drawdown Comparison

The maximum TMAT drawdown since its inception was -58.55%, which is greater than GGTL's maximum drawdown of -23.65%. Use the drawdown chart below to compare losses from any high point for TMAT and GGTL.

Drawdown Indicators

	TMAT	GGTL	Difference
Max Drawdown Largest peak-to-trough decline	-58.55%	-23.65%	-34.90%
Max Drawdown (1Y) Largest decline over 1 year	-21.63%	-9.20%	-12.43%
Max Drawdown (3Y) Largest decline over 3 years	-33.42%	-21.46%	-11.96%
Max Drawdown (5Y) Largest decline over 5 years	-52.10%	—	—
Current Drawdown Current decline from peak	-4.36%	-4.64%	+0.28%
Average Drawdown Average peak-to-trough decline	-31.93%	-7.40%	-24.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.30%	2.69%	+6.61%

Volatility

TMAT vs. GGTL - Volatility Comparison

Main Thematic Innovation ETF (TMAT) and Gabelli Global Technology Leaders ETF (GGTL) have volatilities of 11.45% and 11.18%, 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

	TMAT	GGTL	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.45%	11.18%	+0.27%
Volatility (6M) Calculated over the trailing 6-month period	18.86%	16.84%	+2.02%
Volatility (1Y) Calculated over the trailing 1-year period	25.75%	19.45%	+6.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.83%	18.19%	+12.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.75%	18.19%	+12.56%

TMAT vs. GGTL - Expense Ratio Comparison

TMAT has a 1.49% expense ratio, which is higher than GGTL's 0.90% expense ratio.

Dividends

TMAT vs. GGTL - Dividend Comparison

TMAT's dividend yield for the trailing twelve months is around 0.02%, less than GGTL's 0.84% yield.

Position	TTM	2025	2024	2023	2022	2021
GGTL Gabelli Global Technology Leaders ETF	0.84%	1.04%	0.75%	0.84%	0.78%	0.00%
TMAT Main Thematic Innovation ETF	0.02%	0.02%	0.00%	0.00%	0.34%	0.20%

Frequently Asked Questions

Can I hold both TMAT and GGTL in my portfolio?

TMAT and GGTL have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TMAT or GGTL?

TMAT has higher volatility (11.45%) compared to GGTL (11.18%). In terms of maximum drawdown, TMAT dropped -58.55% vs GGTL's -23.65%.

Which ETF is better, TMAT or GGTL?

On 3-year performance, TMAT leads with 27.57% vs 21.46% for GGTL. On fees, GGTL is cheaper at 0.90% per year. On volatility, GGTL has been the lower-risk option at 11.18%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TMAT or GGTL?

Over the 3-year period, TMAT has performed better with a 27.57% return vs 21.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TMAT or GGTL?

GGTL is cheaper with a 0.90% expense ratio, compared with 1.49% for TMAT.

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

GGTL has the higher dividend yield at 0.84%, compared with 0.02% for TMAT.

What is the main difference between TMAT and GGTL?

They also come from different issuers: Main Management and Gabelli. Their fees differ too: 1.49% for TMAT and 0.90% for GGTL.

Which has better risk-adjusted returns?

GGTL currently has the higher Sharpe Ratio (2.10 vs 1.36), 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.