Fund Evaluator:
Gabelli Global Financial Services AAA (GAFSX)
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Fund Details
Gabelli Global Financial Services AAA Overview
Gabelli Global Financial Services AAA (GAFSX) is an actively managed Sector Equity Financial fund. Gabelli launched the fund in 2018.
The investment seeks to provide capital appreciation. Under normal market conditions, the fund invests at least 80% of the value of its net assets, plus any borrowings for investment purposes, in the securities of companies principally engaged in the group of industries comprising the financial services sector. It may invest in the equity securities of such companies, such as common stock, or in the debt securities of such companies, such as corporate bonds or other financial instruments, in accordance with the foregoing 80% policy. The fund is non-diversified.
About Gabelli Global Financial Services AAA (GAFSX)
There are 1 members of the management team with an average tenure of 7.75 years: Ian Lapey (2018). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and MSCI World/Financials GR USD index with a weighting of 100%. Gabelli Global Financial Services AAA has 61 securities in its portfolio. The top 10 holdings constitute 37.4% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Gabelli Global Financial Services AAA is part of the Equity global asset class and is within the Sector Equity fund group. Gabelli Global Financial Services AAA has 41.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 49.2%. There is 41.4% 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 Global Financial Services AAA has 9.4% of the portfolio in cash.
Assets Under Management
The fund has $10 million in total assets, which is below the $188 million average for the Financial 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.
GAFSX 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 Global Financial Services AAA expense ratio is high compared to funds in the Financial category. Gabelli Global Financial Services AAA has an expense ratio of 1.25%, which is 6% lower than its category average, making the fund expense ratio grade a C. 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 Global Financial Services AAA has a portfolio turnover rate of 9%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 78% for the Financial category.
Recently, in the month of June 2026, Gabelli Global Financial Services AAA returned 1.6%, which earned it a grade of F, as the Financial category had an average return of 5.9%. 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 funds in that category.
Gabelli Global Financial Services AAA has a trailing yield of 1.60%, which is above the 1.05% 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 Global Financial Services AAA Grades
Year to date, the fund has returned 6.8%, 2.0 percentage points better than the category, which translates into a grade of B. The fund has returned 25.5% over the past year (grade of B), 27.7% over the past three years (grade of A) and 17.1% per year over the past five years (grade of A).
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GAFSX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| GAFSX Return (NAV) | 1.6% | 9.5% | 25.5% | 27.7% | 17.1% | na |
| GAFSX Grade | F | D | B | A | A | na |
| +/- Category | -4.3% | -2.5% | 11.7% | 6.3% | 8.8% | na |
| Financial Avg | 5.9% | 12.1% | 13.8% | 21.4% | 8.3% | 11.3% |
| GAFSX Tax Cost Ratio | na | na | 0.7% | 0.9% | 0.9% | na |
GAFSX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| GAFSX Return (NAV) | 6.8% | 36.2% | 27.8% | 25.4% | -11.2% | 28.8% | -1.5% | 18.0% | na | na | na |
| GAFSX Grade | B | A | C | A | B | D | D | F | na | na | na |
| +/- Category | 2.0% | 20.9% | 2.2% | 13.6% | 5.5% | -4.7% | -2.0% | -10.3% | na | na | na |
| Financial Avg | 4.7% | 15.3% | 25.6% | 11.8% | -16.8% | 33.6% | 0.5% | 28.3% | -15.3% | 16.1% | 20.9% |
| Risk Measures | |
| Standard Deviation: | 14.5% |
| Total Risk Index: | 1.19 - Above Average |
| Category Risk Index: | 0.77 - Low |
| Category Risk Grade: | A (4% Rank) |
| Beta: | 0.87 |
| R-Squared: | 58% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Value |
| Bond Investment Style: | na |
| Yield: | 1.6% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | |
| Total Assets: | $142 Mil |
| Fund Total Assets: | $ 11 Mil |
| Share Class Type: | A |
| Portfolio Turnover: | 9% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 7.8 years | |||
| Average Tenure: 7.8 years | |||
| Managers (Year): Lapey Ian (2018) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 61 |
| % in Top 10 Holdings: | 37.4% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 41.4% |
Portfolio Allocation |
|
| Domestic Stock: | 49.2% |
| Foreign Stock: | 41.4% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 9.4% |
Purchase Information
| Fund Family: | Gabelli |
| Phone Number: | 800-422-3554 |
| Website: | www.gabelli.com |
| Status: | Open |
| Inception Date: | October 1, 2018 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 250 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 2.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 1.25% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.33% |
| Share Class: | Gabelli Global Financial Services I |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
