Fund Evaluator:
Gabelli Gold AAA (GOLDX)
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Best Performing in Equity Precious Metals Over the Last Year
| 69.9% | Midas Discovery (MIDSX) |
| 69.6% | Gabelli Gold I (GLDIX) |
| 68.3% | US Global Investors World Prec Mnral (UNWPX) |
| 67.6% | US Global Investors Gld & Prec Mtls (USERX) |
| 64.0% | Sprott Gold Equity Investor (SGDLX) |
Fund Details
Gabelli Gold AAA Overview
Gabelli Gold AAA (GOLDX) is an actively managed Sector Equity Equity Precious Metals fund. Gabelli launched the fund in 1994.
The investment seeks long-term capital appreciation. The fund normally invests at least 80% of its net assets in equity securities of foreign and domestic issuers principally engaged in gold related activities and gold bullion. The adviser focuses on stocks that are undervalued, but which appear to have favorable prospects for growth. Because most of the world's gold production is outside of the United States, the advisor expects that a significant portion of the fund's assets may be invested in securities of foreign issuers, including those located in emerging markets.
About Gabelli Gold AAA (GOLDX)
There are 2 members of the management team with an average tenure of 18.87 years: Christopher Mancini (2021), Caesar Bryan (1994). 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 PHLX Gold & Silver TR USD index with a weighting of 100%. Gabelli Gold AAA has 54 securities in its portfolio. The top 10 holdings constitute 45.1% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Gabelli Gold AAA is part of the Equity global asset class and is within the Sector Equity fund group. Gabelli Gold AAA has 85.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 14.5%. There is 85.3% 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 Gold AAA has 0.2% of the portfolio in cash.
Assets Under Management
The fund has $280 million in total assets, which is below the $547 million average for the Equity Precious Metals 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.
GOLDX 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 Gold AAA expense ratio is high compared to funds in the Equity Precious Metals category. Gabelli Gold AAA has an expense ratio of 1.44%, which is 13% higher than its category average, making the fund expense ratio grade a D. 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 Gold AAA has a portfolio turnover rate of 24%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 58% for the Equity Precious Metals category.
Recently, in the month of August 2026, Gabelli Gold AAA returned 34.3%, which earned it a grade of A, as the Equity Precious Metals category had an average return of 31.4%. 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 Gold AAA has a trailing yield of 6.22%, which is above the 4.40% category average. The fund normally distributes its income annually and its capital gains 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 Gold AAA Grades
Year to date, the fund has returned 16.4%, 0.4 percentage points worse than the category, which translates into a grade of C. The fund has returned 69.2% over the past year (grade of B), 55.7% over the past three years (grade of B) and 27.8% per year over the past five years (grade of A) and 15.5% per year over the past 10 years (grade of B).
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GOLDX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| GOLDX Return (NAV) | 34.3% | 11.6% | 69.2% | 55.7% | 27.8% | 15.5% |
| GOLDX Grade | A | A | B | B | A | B |
| +/- Category | 3.0% | 1.9% | 7.1% | 3.5% | 2.9% | 0.8% |
| Equity Precious Metals Avg | 31.4% | 9.7% | 62.2% | 52.2% | 25.0% | 14.7% |
| GOLDX Tax Cost Ratio | na | na | 4.3% | 1.9% | 1.1% | 0.8% |
GOLDX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| GOLDX Return (NAV) | 16.4% | 167.3% | 14.9% | 7.8% | -11.0% | -9.0% | 26.3% | 43.9% | -14.8% | 6.2% | 53.5% |
| GOLDX Grade | C | A | B | A | A | B | D | B | D | F | B |
| +/- Category | -0.4% | 13.6% | 0.8% | 3.2% | 2.5% | 0.4% | -5.7% | 1.9% | -0.5% | -2.9% | 2.0% |
| Equity Precious Metals Avg | 16.7% | 153.6% | 14.1% | 4.6% | -13.5% | -9.4% | 32.0% | 42.1% | -14.4% | 9.1% | 51.4% |
| Risk Measures | |
| Standard Deviation: | 40.1% |
| Total Risk Index: | 3.30 - High |
| Category Risk Index: | 1.05 - High |
| Category Risk Grade: | F (81% Rank) |
| Beta: | 0.89 |
| R-Squared: | 8% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 6.2% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $826 Mil |
| Fund Total Assets: | $ 281 Mil |
| Share Class Type: | Other |
| Portfolio Turnover: | 24% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 32.2 years | |||
| Average Tenure: 18.9 years | |||
| Managers (Year): Bryan Caesar (1994), Mancini Christopher (2021) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 54 |
| % in Top 10 Holdings: | 45.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 85.3% |
Portfolio Allocation |
|
| Domestic Stock: | 14.5% |
| Foreign Stock: | 85.3% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.2% |
Purchase Information
| Fund Family: | Gabelli |
| Phone Number: | 800-422-3554 |
| Website: | www.gabelli.com |
| Status: | Open |
| Inception Date: | July 11, 1994 |
| 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 (%): | 1.44% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.28% |
| Share Class: | Gabelli Gold AAA |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
