ETF Evaluator:
Gabelli Comm. Aerospace & Defense ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Industrials Over the Last Year
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ETF Details
Gabelli Comm. Aerospace & Defense ETF Overview
Gabelli Comm. Aerospace & Defense ETF (GCAD) is an actively managed Sector Equity Industrials exchange-traded fund (ETF). Gabelli launched the ETF in 2023.
The investment seeks a high level of total return on its assets with an emphasis on income.
The fund will seek to achieve its investment objective by investing, under normal market conditions, at least 80% of its net assets in securities in income producing equity securities including securities in the aerospace and defense sectors. Aerospace companies include manufacturers, assemblers and distributors of aircraft and aircraft parts. Defense companies include producers of components and equipment for the defense industry, such as military aircraft, radar equipment and weapons.
About Gabelli Comm. Aerospace & Defense ETF (GCAD)
There are 1 members of the management team with an average tenure of 3.58 years: Tony Bancroft (2023). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: S&P 500 (TR) (1970) index with a weighting of 100%. Gabelli Comm. Aerospace & Defense ETF has 49 securities in its portfolio. The top 10 holdings constitute 49.7% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Gabelli Comm. Aerospace & Defense ETF is part of the Equity global asset class and is within the Sector Equity ETF group. Gabelli Comm. Aerospace & Defense ETF has 5.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 92.5% There is 5.3% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Gabelli Comm. Aerospace & Defense ETF has 2.2% of the portfolio in cash.
Assets Under Management
The fund has $44 million in total assets, which is below the $1 billion average for the Industrials category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
GCAD Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Gabelli Comm. Aerospace & Defense ETF expense ratio is low compared to funds in the Industrials category. Gabelli Comm. Aerospace & Defense ETF has an expense ratio of 0.10%, which is 80% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Gabelli Comm. Aerospace & Defense ETF has a portfolio turnover rate of 9%, which indicates that it holds its assets around / 0.1 years. By way of comparison, the average portfolio turnover is 40% for the Industrials category.
Recently, in the month of July 2026, Gabelli Comm. Aerospace & Defense ETF returned -2.2%, which earned it a grade of C, as the Industrials category had an average return of -4.0%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Gabelli Comm. Aerospace & Defense ETF has a trailing yield of 1.75%, which is above the 1.11% category average.
The fund normally distributes its income annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Gabelli Comm. Aerospace & Defense ETF Grades
Year to date, the ETF has returned 18.1%, 5.5 percentage points better than the category, which translates into a grade of A. The fund has returned 31.3% over the past year (grade of B) and 29.6% over the past three years (grade of A).
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GCAD Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| GCAD Return (NAV) | -2.2% | 7.2% | 31.3% | 29.6% | na | na |
| GCAD Return (Price) | -1.9% | 7.6% | 31.7% | 29.8% | na | na |
| NAV +/- Price Return | -0.289% | -0.427% | -0.410% | -0.187% | na | na |
| Industrials Avg | -4.0% | -1.4% | 24.7% | 17.8% | 11.5% | 13.6% |
| GCAD Grade (NAV) | C | A | B | A | na | na |
| +/- Category (NAV) | 1.8% | 8.6% | 6.6% | 11.9% | na | na |
| GCAD Tax-Cost Ratio | na | na | 0.8% | 0.6% | na | na |
GCAD Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| GCAD Return (NAV) | 18.1% | 39.3% | 22.2% | na | na | na | na | na | na | na | na |
| GCAD Return (Price) | 18.4% | 39.3% | 22.2% | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.018% | -0.001% | 0.000% | na | na | na | na | na | na | na | na |
| Industrials Avg | 12.6% | 27.1% | 14.2% | 21.4% | -12.8% | 20.7% | 15.4% | 30.3% | -13.4% | 22.8% | 22.1% |
| GCAD Grade (NAV) | A | B | B | na | na | na | na | na | na | na | na |
| +/- Category | 5.5% | 12.3% | 8.1% | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | 1.01 |
| R-Squared: | 56% |
| Standard Deviation: | 16.9% |
| Category Risk Index: | 0.82 |
| Category Risk Rating: | Below Average |
| Total Risk Index: | 1.38 |
| Total Risk Rating: | Above Average |
| Portfolio Characteristics | |
| Yield: | 1.8% |
| Total Assets: | $ 45 Mil |
| Share Class Assets: | $ 45 Mil |
| Turnover: | 9.0% |
| Expense Ratio: | 0.10% |
| Index Fund: | No |
| Index Tracked: | S&P 500 (TR) (1970) |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 3.6 years | |||
| Average Tenure: 3.6 years | |||
| Managers (Year): Bancroft Tony (2023) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 49 |
| % in Top 10 Holdings: | 49.7% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 5.3% |
Portfolio Allocation |
|
| Domestic Stock: | 92.5% |
| Foreign Stock: | 5.3% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 2.2% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Gabelli |
| Phone Number: | 800-422-3554 |
| Website: | |
| Inception Date: | January 3, 2023 |
Expenses and Fees
| Expense Ratio (%): | 0.10% (Rating: Low) |
| Category Average Expense Ratio (%): | 0.51% |
