Gabelli Global Technology Leaders ETF

Gabelli Global Technology Leaders ETF (GGTL) is an actively managed GAMCO Investors fund that holds technology stocks from around the world. As of June 30, 2026, Taiwan Semiconductor was its largest holding, Japan made up 29.7% of assets, and net assets were a small $13.3 million. Its 0.9% management fee was fully waived for a 0% expense ratio in the April 30, 2026 prospectus, but the SEC's $10,000 example shows $1,047 in costs over 10 years.

• Over the year to Oct 27, 2026, GGTL returned +19.0%, 1st of 7 among similar funds.
• Its worst full calendar year was 2024 (+11.1%); its best was 2025 (+19.8%).
• The deepest fall in its price history was 23.6% (Jan 6, 2022 to Sep 27, 2022), recovered by Feb 15, 2024.

As of Jun 30, 2026, the fund held 65 securities; the ten largest made up 42.13% of assets.

• Over the three months to Jun 30, 2026, investors added a net $0.00 (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +14.63%, +14.12%, +0.99%.

GGTL tracks no index; GAMCO's managers pick the stocks. At least 80% of assets go to technology companies, meaning firms with half their revenue or assets in areas such as software, semiconductors or communications equipment. It normally keeps at least 40% in non-U.S. companies, held directly or through American Depositary Receipts (ADRs), U.S.-traded certificates for foreign shares.

They favor industry leaders with high returns on capital, proprietary technology or strong research records. Then comes a value test: does the stock trade below its private market value, the price an informed purchaser would pay for the whole business? They also want a catalyst, such as a spin-off or management change, that could close the gap, and exit when a price target is reached or the outlook worsens. Portfolio turnover was 37% in the April 2026 prospectus, meaning roughly a third of holdings changed over a year.

As of June 30, 2026, it held 65 positions, with 42% in the top 10, led by Taiwan Semiconductor (8.9%), AMD (4.9%) and Oracle (3.8%). About 9.5% sat in short-term U.S. Treasury bills, a cash-like holding. Options may be used for extra return or to hedge against losses, but none were held. The stated goal is high total return mainly from current income, yet the trailing yield was 0.86% as of October 27, 2026.

• GGTL charges 0% a year, versus an average of 0.28% for the similar funds below (1st of 7, cheapest first).
• Of that, 0.9% is the management fee; the rest covers other fund expenses.
• The fee includes a 0.9% waiver from the adviser, which may end.
• Using the prospectus's standard example, $10,000 invested would cost about $0 in the first year and $1,047 over 10 years (assuming a 5% annual return).

It is a concentrated technology fund that tended to move about 1.4 times as much as the stock market in the year to October 27, 2026.

GGTL could add global technology exposure, but its record is short. It launched on January 5, 2022, after the 2008 and 2020 crashes, then fell 23.6% by September 27 in the 2022 market slump, ending that year down about 16%. It took about 17 months from that low to regain its old high, in February 2024. Withdrawals in late 2022 would have meant cashing out shares at depressed prices. Its weakest full calendar year since then, 2024, gained about 11%.

Income is small: a 0.86% yield as of October 27, 2026, paid once a year. Costs are 0% while the 0.90% fee waiver lasts; the SEC's $10,000 example shows $1,047 in costs over 10 years. From launch through 2025, it returned 7.24% a year versus 11.53% for the S&P 500. Past results don't predict future ones, and a plan needs to look at the whole portfolio, not one fund.

Matched by closest holdings overlap from the latest N-PORT reports (no similar fund shares 20% or more of its holdings).