Returns
| Series | 1 week | 1 month | 3 months | 6 months | YTD | 1 year | 3 years (ann.) | 5 years (ann.) | 10 years (ann.) | Since inception (ann.) |
|---|---|---|---|---|---|---|---|---|---|---|
| Market-price return | +0.12% | -1.07% | -1.30% | -1.07% | -1.77% | -1.89% | +2.70% | -1.54% | -1.65% | -4.35% |
| Market-price total return | +0.12% | +0.34% | +0.11% | +1.78% | +2.51% | +3.85% | +8.85% | +4.40% | +3.89% | +2.74% |
| NAV return | -0.09% | -1.12% | -0.75% | -0.65% | +0.66% | +0.76% | +1.96% | +0.04% | -0.96% | -2.94% |
| NAV total return | -0.09% | +0.00% | +0.38% | +1.60% | +4.12% | +5.40% | +6.75% | +4.81% | +3.53% | +3.15% |
Performance through Oct 14, 2026. Price and NAV returns are simple changes; total returns reinvest each distribution at the series value on its ex-date (first observation on/after). Periods of one year or less are cumulative; longer periods are annualised. Series are built from unadjusted prices plus the distribution record so no distribution is counted twice. Corporate actions: the vendor price series is split-adjusted; rights offerings and mergers are not restated — check Corporate Actions.
Growth of $10,000, five years
Risk statistics
| Statistic | Market price | NAV | Specification |
|---|---|---|---|
| Volatility, 1 year | 0.06% | 0.05% | annualised SD of daily total returns, √252 |
| Volatility, 3 years | 0.08% | 0.04% | as above |
| Volatility, 5 years | 0.09% | 0.04% | as above |
| Maximum drawdown, 3 years | -6.00% | -3.27% | peak-to-trough on the total-return index |
| Sharpe ratio, 3 years | 0.53 | 0.49 | excess over FRED DGS3MO (window average) (avg 4.52%), annualised |
| Sortino ratio, 3 years | 0.72 | 0.72 | downside deviation of excess returns |
| Beta vs. benchmark proxy, 3 years | 0.11 | — | SPY (U.S. equity ETF proxy), daily, aligned dates |
| Correlation, 3 years | 0.23 | — | as above |
| Observations (3y) | 751 | — | minimum 60; rankings require 500 |
Market-price and NAV volatility are different quantities and are never mixed. NAV volatility for funds holding stale-marked or illiquid assets can understate economic risk.
CEF Explorer research page for GDL Fund. Figures carry their own dates and sources; a discount to NAV does not guarantee convergence or any return. This is not investment advice.