Gabelli Launches Keeley Dividend ETF (KDVD)

Rhea-AI Summary

Gabelli launched the Keeley Dividend ETF (KDVD) on the NYSE on December 8, 2025. The actively managed ETF seeks current income and capital appreciation by investing in dividend‑paying small‑ and mid‑cap companies and will use Gabelli’s bottom‑up research framework.

The fund is managed by Thomas E. Browne Jr. and Brian P. Leonard, who have co‑managed dividend strategies for over 16 years and joined Gabelli after the May acquisition of Keeley Asset Management. Gabelli will waive the ETF's standard 0.90% management fee for the first year; the stated fee schedule resumes thereafter.

Positive

• ETF KDVD launched on the NYSE December 8, 2025
• Managers with 16+ years co‑managed dividend experience
• Waived standard 0.90% management fee for the first year

Negative

• Management fee reverts to 0.90% after one year
• Shares are bought and sold at market price (not NAV)
• Brokerage commissions and trading costs may reduce returns

Key Figures

Dividend strategy tenure 16+ years Co-managed dividend strategies track record of KDVD managers

Management fee 0.90% ETF’s standard management fee, waived for first year

Fee waiver period 1 year Management fee waived for first year following inception

Price vs 52-week high -9.38% GAMI price relative to 52-week high before ETF launch news

Market Reality Check

$24.77 Last Close

Volume Volume 3,840 vs 20-day average 3,905 suggests typical trading activity ahead of the ETF launch news. normal

Technical Price at 24.92 is trading above the 200-day MA of 23.93, indicating a pre-existing upward bias.

Peers on Argus

Peer asset managers showed mixed moves (e.g., WEDXF +2.23%, HKHC -2.14%), with no names in the momentum scanner, pointing to a company-specific catalyst in GAMI rather than a broad sector rotation.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 08	ETF launch	Positive	+0.2%	Launch of Keeley Dividend ETF targeting dividend-paying SMID-cap stocks.
Nov 17	ETF launch	Positive	+3.5%	Launch of Gabelli High Income ETF focused on high-yield bonds.
Nov 12	Distribution declaration	Positive	+0.2%	Ellsworth fund declared a $0.41 per share cash distribution.
Nov 12	Dividend increase	Positive	+0.2%	Gabelli Dividend & Income Trust raised annual and monthly distributions.
Nov 12	Distribution declaration	Positive	+0.2%	Gabelli Healthcare & WellnessRx Trust declared a $0.17 per share distribution.

Pattern Detected

Recent Gabelli-related launches and distribution announcements have generally coincided with modest positive price reactions, suggesting the stock has tended to move in the same direction as upbeat fund and dividend news.

Recent Company History

Over the last several months, Gabelli-related vehicles have issued multiple distribution announcements and launched new ETFs. On Nov 12, 2025, Gabelli Dividend & Income Trust raised its annual distribution to $1.80 per share and set a new $0.15 monthly rate. Other funds such as Ellsworth Growth and Income Fund and Gabelli Healthcare & WellnessRx Trust declared cash distributions, while on Nov 17, 2025 Gabelli launched the Gabelli High Income ETF. Today’s Keeley Dividend ETF launch fits this pattern of expanding income-focused offerings.

Market Pulse Summary

This announcement introduced the Keeley Dividend ETF, an actively managed NYSE-listed product targeting dividend-paying small- and mid-cap companies. The managers bring over 16 years of dividend-strategy experience, and Gabelli is waiving the usual 0.90% management fee for the first year. In the context of other recent Gabelli distribution and ETF launches, investors may watch how KDVD’s portfolio, yield profile, and asset growth evolve versus the firm’s established income funds.

Key Terms

ETF financial

"Keeley Dividend ETF (“KDVD”) on the NYSE. KDVD is an actively managed ETF"

An ETF, or exchange-traded fund, is like a basket of different investments such as stocks or bonds that you can buy or sell easily on the stock market, just like a regular share. It allows people to invest in many companies at once, making it a simple way to grow savings without picking individual stocks.

management fee financial

"Gabelli is waiving the ETF’s standard 0.90% management fee for the first year"

A management fee is the regular charge that a fund or investment firm takes for running and overseeing investors’ money, typically expressed as a percentage of assets under management. It matters because this ongoing cost reduces the net returns you receive—like paying a caretaker a slice of a garden’s harvest—and higher fees can significantly erode long-term investment gains.

NAV financial

"Shares of this ETF are bought and sold at market price (not NAV)"

Net asset value (NAV) is the total value of all the investments and assets in a fund or company, minus any debts or liabilities, divided by the number of shares or units outstanding. It represents the per-share worth, giving investors an idea of what each share is truly worth based on the underlying assets. Think of it like a company's total worth divided among its shares, helping investors assess whether a share is fairly priced.

Prospectus regulatory

"You should consider the ETF's investment objectives... The ETF's Prospectus is available"

A prospectus is a detailed document that explains a company's plans for offering new shares or investments to the public. It’s important because it provides potential investors with key information about the company’s business, risks, and how they might make money, helping them decide whether to invest. Think of it as a guidebook for understanding what you're buying into.

broker-dealer regulatory

"g.distributors, LLC, a registered broker-dealer and FINRA member firm"

A broker-dealer is a licensed firm or individual that both executes trades on behalf of clients (acting as a broker) and buys or sells securities for its own account (acting as a dealer). Investors care because broker-dealers provide the plumbing of markets — they place orders, hold or move cash and securities, offer research or advice, and their stability and fees directly affect trade execution, costs, and the safety of client funds; think of them as a combined travel agent and taxi for your investments.

FINRA regulatory

"g.distributors, LLC, a registered broker-dealer and FINRA member firm"

FINRA is the U.S. self‑regulatory organization that oversees brokerage firms and individual brokers, setting and enforcing rules to protect investors and keep markets orderly. Think of it as a referee and rulebook keeper for the broker industry: it licenses brokers, monitors their behavior, enforces standards, and runs complaint and arbitration systems, so investors can check records and have a path to resolve disputes.

AI-generated analysis. Not financial advice.

Harnessing 16+ years of dividend-strategy expertise in an actively managed ETF

GREENWICH, Conn., Dec. 08, 2025 (GLOBE NEWSWIRE) -- Gabelli Funds, LLC (“Gabelli”) today announced the launch of the Keeley Dividend ETF (“KDVD”) on the NYSE. KDVD is an actively managed ETF that seeks to generate current income and capital appreciation by investing in dividend-paying small- and mid-cap companies. The fund is managed by Chicago-based portfolio managers Thomas E. Browne, Jr., CFA and Brian P. Leonard, CFA, who have co-managed dividend strategies for over 16 years and recently joined Gabelli following the acquisition of Keeley Asset Management in May.

“We believe this is a particularly compelling moment for dividend investors,” said Leonard. “Valuations in SMID-cap equities remain more attractive than their large-cap peers, while dividend strategies have lagged in recent years, creating a favorable setup for active, research-driven stock selection.” KDVD is designed to invest across the full spectrum of dividend paying stocks (ranging from modest payers with high reinvestment opportunities to stable growers and higher yielding names), using Gabelli’s fundamental, bottom-up research framework.

To underscore its commitment to the strategy’s launch, Gabelli is waiving the ETF’s standard 0.90% management fee for the first year following inception, after which the fund will revert to its stated management fee schedule.

Click here to learn more about KDVD.

Contact

Charles LaRosa
Vice President
P: 914-921-8395
E: clarosa@gabelli.com

Gabelli Funds, LLC is a registered investment adviser with the Securities and Exchange Commission and is a wholly owned subsidiary of GAMCO Investors, Inc.

Important Disclosures

• Shares of this ETF are bought and sold at market price (not NAV) and are not individually redeemed from the fund.
• Buying or selling ETF shares may require additional fees such as brokerage commissions, which will reduce returns.
• These additional risks may be even greater in bad or uncertain market conditions.
• Dividend paying stocks do not assure a profit or guarantee against a loss. Companies may choose to stop paying dividends at their own discretion.

You should consider the ETF's investment objectives, risks, charges, and expenses carefully before you invest. The ETF's Prospectus is available from g.distributors, LLC, a registered broker-dealer and FINRA member firm, and contains this and other information about the ETF, and should be read carefully before investing. To obtain a Prospectus, please visit https://www.Gabelli.com/funds/etfs or call 800-GABELLI.

Distributed by g.distributors, LLC, a registered broker-dealer and FINRA member firm. 

One Corporate Center, Rye, NY 10580

Contact:

Charles LaRosa (914) 921-8395

FAQ

What is the investment objective of KDVD (Keeley Dividend ETF)?

KDVD seeks current income and capital appreciation by investing in dividend‑paying small‑ and mid‑cap companies.

Who manages Gabelli's KDVD and what experience do they have?

KDVD is managed by Thomas E. Browne Jr. and Brian P. Leonard, who have co‑managed dividend strategies for over 16 years.

What is the management fee for KDVD and is there a fee promotion?

The fund's standard management fee is 0.90%, which Gabelli is waiving for the first year after inception.

When did Gabelli acquire Keeley Asset Management referenced in the KDVD launch?

Gabelli acquired Keeley Asset Management in May (the press release notes the acquisition month).

How are KDVD shares bought and redeemed?

Shares are bought and sold at market price (not NAV) and are not individually redeemed from the fund.

Where can investors obtain the KDVD prospectus and more information?

The prospectus is available at https://www.Gabelli.com/funds/etfs or by calling 800‑GABELLI.