In plain terms — Gabelli Global Small & Mid Cap Value Trust
Shares currently cost about 11.7% less than the value of the assets behind them (a discount).
Over the past year it has averaged a 11.3% discount, so today's level is not high for this fund (Z-score +0.5). That describes the past; it does not predict where the discount goes next.
It pays regular distributions worth about 5.6% a year of the share price (4.9% of the assets). That is a payout rate, not a return: part of it may be capital being handed back.
Because the shares trade below the value of their assets, each dollar of reinvested distributions buys about $1.13 of assets — a ReinvestCapture™ rate of 6.3%, more than the payout rate itself. That is buying power, not a return.
The assets themselves grew 11.4% over the past year including distributions (NAV total return).
Annual costs are 3.54% of assets.
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Price and NAV, past year
Snapshot
Valuation vs. history
| Window | Average prem/disc | Std. dev. | Z-score | Observations |
|---|---|---|---|---|
| 3 months | -10.86% | 0.76% | +0.40 | 64 |
| 6 months | -10.90% | 1.04% | +0.34 | 126 |
| 1 year | -11.26% | 1.53% | +0.46 | 250 |
| 3 years | -14.39% | — | — | — |
| 5 years | -14.34% | — | — | — |
Current contemporaneous premium/discount -10.56% (close Oct 14, 2026 vs NAV Oct 13, 2026). 1-year range -14.94% to -7.72%. A negative Z-score means a wider discount than the window average — not that the fund is undervalued.
Performance
| Series | 1M | 3M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) |
|---|---|---|---|---|---|---|
| Market price return | -5.79% | -6.56% | -0.27% | +6.55% | +13.97% | -1.45% |
| Market price total return | -4.52% | -5.29% | +3.83% | +12.56% | +20.15% | +4.45% |
| NAV return | -4.32% | -4.70% | +3.08% | +6.16% | +11.53% | -1.29% |
| NAV total return | -3.17% | -3.55% | +6.84% | +11.42% | +16.69% | +3.76% |
Through Oct 14, 2026. Total return reinvests distributions at the series value on the ex-date. Cumulative ≤ 1 year, annualised beyond.
About the fund
Established by GAMCO Investors, Inc., The Gabelli Global Small and Mid Cap Value Trust functions as a closed-end equity investment vehicle managed by Gabelli Funds, LLC. This trust deploys capital across public equity markets worldwide, aiming to acquire shares in companies operating within diverse sectors. Its core investment approach concentrates on undervalued small and medium-sized enterprises, specifically those with a market capitalization of $12 billion or less. Portfolio performance is measured against the MSCI World SMID Cap Index. The fund was inaugurated on August 19, 2013, and is legally based in the United States.
CEF Explorer research page for Gabelli Global Small & Mid Cap Value Trust. Figures carry their own dates and sources; a discount to NAV does not guarantee convergence or any return. This is not investment advice.