GDL vs SBI

Comparison between GDL Fund (GDL, ETF) and Western Asset Intermediate Muni Fund Inc (SBI, ETF).

5-Year PerformanceGDL has outperformed SBI, delivering a return of +4.5% compared to +0.1%

GDL vs SBI - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	GDL(ETF)	SBI(ETF)
Net Assets	$117M	$117M
Max Drawdown	71.51%	43.86%
Sharpe Ratio	0.24	0.46
5Y Beta	0.10	0.14
5Y Dividends CAGR	-4.36%	12.31%

Net Assets

Winner

GDL

$117M

SBI

$117M

Max Drawdown

GDL

71.51%

Winner

SBI

43.86%

Sharpe Ratio

GDL

0.24

Winner

SBI

0.46

5Y Beta

Winner

GDL

0.10

SBI

0.14

5Y Dividends CAGR

GDL

-4.36%

Winner

SBI

12.31%

GDL vs SBI - Historical Returns

Returns include dividend reinvestment.

Period	GDL	SBI
1 month	-0.24%	-0.62%
3 months	+0.59%	-0.32%
6 months	+0.76%	-1.10%
1 year	+5.52%	+6.42%
5 years(CAGR)	+4.49%	+0.12%
10 years(CAGR)	+3.83%	+1.15%
Max(CAGR)	+3.26%	+4.39%

Winner

GDL

-0.24%

SBI

-0.62%

Winner

GDL

+0.59%

SBI

-0.32%

Winner

GDL

+0.76%

SBI

-1.10%

GDL

+5.52%

Winner

SBI

+6.42%

5Y(CAGR)

Winner

GDL

+4.49%

SBI

+0.12%

10Y(CAGR)

Winner

GDL

+3.83%

SBI

+1.15%

Max(CAGR)

GDL

+3.26%

Winner

SBI

+4.39%

GDL vs SBI - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	GDL	SBI
2026	+3.19%	+3.21%
2025	+11.53%	+4.71%
2024	+6.46%	+6.01%
2023	+8.16%	+4.41%
2022	-6.27%	-18.11%
2021	+8.15%	+8.51%
2020	-0.36%	+4.27%
2019	+6.91%	+11.05%
2018	-2.79%	-7.08%
2017	+4.29%	+1.98%
2016	+5.32%	-2.28%
2015	+4.44%	+11.06%
2014	+0.89%	+11.62%
2013	+6.69%	-13.11%
2012	+6.56%	+13.15%
2011	+5.01%	+10.53%
2010	+1.10%	+9.39%
2009	+17.35%	+25.05%
2008	-9.24%	-10.17%
2007	-13.32%	+0.97%
2006	N/A	+9.01%
2005	N/A	-3.44%
2004	N/A	-2.07%
2003	N/A	+14.58%
2002	N/A	+5.71%
2001	N/A	+13.21%
2000	N/A	+9.55%
1999	N/A	-7.92%

GDL vs SBI Drawdown Comparison

The maximum drawdown for GDL was -38.67%, occurring on Mar 18, 2020. Recovery took 261 trading sessions.

The maximum drawdown for SBI was -33.69%, occurring on Oct 10, 2008. Recovery took 365 trading sessions.

The current GDL drawdown is -1.06%. The current SBI drawdown is -2.11%.

Rank	GDL	SBI
#1	-38.67% Jan 15, 2020 - Jan 28, 2021	-33.69% Feb 12, 2008 - Jul 24, 2009
#2	-36.33% Jun 4, 2007 - Mar 17, 2011	-25.21% Sep 21, 2021 - Jun 22, 2026
#3	-14.35% Jun 28, 2011 - Sep 12, 2012	-20.05% Feb 21, 2020 - Feb 2, 2021
#4	-13.30% Oct 12, 2017 - Jan 8, 2020	-19.30% Jan 25, 2013 - Feb 2, 2015
#5	-9.51% Dec 17, 2021 - Dec 14, 2023	-16.12% Apr 1, 2004 - Jun 28, 2005
#6	-7.91% May 13, 2014 - May 13, 2015	-15.62% Sep 6, 2016 - Aug 23, 2019
#7	-7.01% Oct 5, 2012 - Jan 23, 2013	-11.57% Sep 3, 2010 - Aug 31, 2011
#8	-6.41% Jan 5, 2016 - Mar 21, 2016	-10.68% Jul 22, 2005 - Dec 1, 2006
#9	-6.00% Mar 25, 2025 - May 21, 2025	-9.49% Jun 12, 2003 - Nov 10, 2003
#10	-4.89% May 18, 2015 - Dec 22, 2015	-8.39% Nov 1, 1999 - Jun 30, 2000
#11	-4.17% May 20, 2013 - Sep 26, 2013	-7.67% Jul 25, 2000 - Dec 7, 2000
#12	-3.54% Mar 26, 2013 - May 16, 2013	-7.53% Sep 28, 2007 - Jan 4, 2008
#13	-3.34% Dec 26, 2023 - Mar 21, 2024	-7.48% Sep 20, 2002 - May 1, 2003
#14	-3.22% Sep 30, 2016 - Dec 20, 2016	-7.17% Nov 5, 2001 - May 23, 2002
#15	-3.22% Feb 2, 2026 - May 14, 2026	-6.95% Aug 13, 2001 - Oct 3, 2001

Correlation

Correlation between GDL and SBI is 0.92 which considered as a very strong positive correlation - the stocks move almost identically together.

0.92

-101

Dividend Comparison (1999 - 2026)

GDL vs SBI dividend yield comparison.

Year	GDL	SBI
2026	2.86%	4.41%
2025	5.67%	6.56%
2024	5.99%	6.23%
2023	5.97%	3.76%
2022	6.12%	3.72%
2021	5.38%	2.93%
2020	5.28%	3.07%
2019	4.30%	3.59%
2018	4.36%	4.32%
2017	5.96%	4.58%
2016	6.50%	5.01%
2015	6.39%	4.70%
2014	7.82%	4.92%
2013	11.62%	5.30%
2012	11.21%	4.54%
2011	19.85%	4.90%
2010	9.57%	5.03%
2009	8.88%	4.69%
2008	12.18%	5.42%
2007	7.50%	4.83%
2006	0.00%	4.87%
2005	0.00%	6.45%
2004	0.00%	6.54%
2003	0.00%	6.01%
2002	0.00%	6.04%
2001	0.00%	5.66%
2000	0.00%	6.16%
1999	0.00%	1.05%