FICSX vs. GISOX

Last updated Jun 4, 2026

FICSX (Fidelity Advisor International Small Cap Fund Class C) and GISOX (Grandeur Peak International Stalwarts Fund) are both Foreign Small & Mid Cap Equities funds. Over the past 10 years, FICSX returned 7.84%/yr vs 7.93%/yr for GISOX. Their correlation of 0.82 suggests significant overlap in exposure. FICSX charges 2.05%/yr vs 1.15%/yr for GISOX.

Performance

FICSX vs. GISOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor International Small Cap Fund Class C (FICSX) and Grandeur Peak International Stalwarts Fund (GISOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FICSX achieves a 9.70% return, which is significantly lower than GISOX's 20.07% return. Both investments have delivered pretty close results over the past 10 years, with FICSX having a 7.84% annualized return and GISOX not far ahead at 7.93%.

FICSX

• 1D: -0.39%
• 1M: 3.33%
• YTD: 9.70%
• 6M: 11.56%
• 1Y: 17.70%
• 3Y*: 13.26%
• 5Y*: 5.20%
• 10Y*: 7.84%

GISOX

• 1D: 0.00%
• 1M: 1.29%
• YTD: 20.07%
• 6M: 22.01%
• 1Y: 20.21%
• 3Y*: 9.26%
• 5Y*: -1.28%
• 10Y*: 7.93%

*Multi-year figures are annualized to reflect compound growth (CAGR)

FICSX vs. GISOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FICSX Fidelity Advisor International Small Cap Fund Class C	9.70%	23.45%	-1.00%	18.40%	-17.50%	12.27%	8.81%	20.21%	-16.98%	30.98%
GISOX Grandeur Peak International Stalwarts Fund	20.07%	9.82%	-10.00%	14.58%	-37.61%	24.41%	38.16%	31.57%	-17.66%	36.78%

Correlation

The correlation between FICSX and GISOX is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.82
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.82

The correlation between FICSX and GISOX has been stable across timeframes, ranging from 0.79 to 0.82 - a consistent structural relationship.

Return for Risk

FICSX vs. GISOX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FICSX

FICSX Risk / Return Rank: 23
FICSX Sharpe Ratio Rank: 24
FICSX Sortino Ratio Rank: 24
FICSX Omega Ratio Rank: 26
FICSX Calmar Ratio Rank: 20
FICSX Martin Ratio Rank: 23

GISOX

GISOX Risk / Return Rank: 20
GISOX Sharpe Ratio Rank: 17
GISOX Sortino Ratio Rank: 19
GISOX Omega Ratio Rank: 18
GISOX Calmar Ratio Rank: 27
GISOX Martin Ratio Rank: 18

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FICSX vs. GISOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor International Small Cap Fund Class C (FICSX) and Grandeur Peak International Stalwarts Fund (GISOX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	FICSX	GISOX	Difference
Sharpe ratio: Return per unit of total volatility	1.42	1.17	+0.25
Sortino ratio: Return per unit of downside risk	2.07	1.83	+0.24
Omega ratio: Gain probability vs. loss probability	1.27	1.22	+0.05
Calmar ratio: Return relative to maximum drawdown	1.61	1.92	-0.31
Martin ratio: Return relative to average drawdown	5.72	4.81	+0.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FICSX vs. GISOX - Sharpe Ratio Comparison

The current FICSX Sharpe Ratio is 1.42, which is comparable to the GISOX Sharpe Ratio of 1.17. The chart below compares the historical Sharpe Ratios of FICSX and GISOX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FICSX	GISOX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.42	1.17	+0.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.38	-0.06	+0.45
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	0.42	+0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	0.45	+0.23

Drawdowns

FICSX vs. GISOX - Drawdown Comparison

The maximum FICSX drawdown since its inception was -61.39%, which is greater than GISOX's maximum drawdown of -47.98%. Use the drawdown chart below to compare losses from any high point for FICSX and GISOX.

Drawdown Indicators

	FICSX	GISOX	Difference
Max Drawdown Largest peak-to-trough decline	-61.39%	-47.98%	-13.41%
Max Drawdown (1Y) Largest decline over 1 year	-10.77%	-10.42%	-0.35%
Max Drawdown (3Y) Largest decline over 3 years	-13.15%	-22.45%	+9.30%
Max Drawdown (5Y) Largest decline over 5 years	-31.79%	-47.98%	+16.19%
Max Drawdown (10Y) Largest decline over 10 years	-40.18%	-47.98%	+7.80%
Current Drawdown Current decline from peak	-1.10%	-18.50%	+17.40%
Average Drawdown Average peak-to-trough decline	-11.39%	-17.48%	+6.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.03%	4.15%	-1.12%

Volatility

FICSX vs. GISOX - Volatility Comparison

The current volatility for Fidelity Advisor International Small Cap Fund Class C (FICSX) is 3.80%, while Grandeur Peak International Stalwarts Fund (GISOX) has a volatility of 5.76%. This indicates that FICSX experiences smaller price fluctuations and is considered to be less risky than GISOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FICSX	GISOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.80%	5.76%	-1.96%
Volatility (6M) Calculated over the trailing 6-month period	10.16%	14.32%	-4.16%
Volatility (1Y) Calculated over the trailing 1-year period	12.25%	17.09%	-4.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.58%	20.12%	-6.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.06%	18.85%	-4.79%

FICSX vs. GISOX - Expense Ratio Comparison

FICSX has a 2.05% expense ratio, which is higher than GISOX's 1.15% expense ratio.

Dividends

FICSX vs. GISOX - Dividend Comparison

FICSX's dividend yield for the trailing twelve months is around 2.49%, more than GISOX's 0.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FICSX Fidelity Advisor International Small Cap Fund Class C	2.49%	2.73%	1.59%	0.97%	0.00%	6.57%	0.00%	1.20%	5.20%	2.59%	1.66%	2.93%
GISOX Grandeur Peak International Stalwarts Fund	0.42%	0.50%	0.45%	0.54%	0.10%	8.61%	0.21%	0.14%	2.76%	1.38%	0.29%	0.00%

Frequently Asked Questions

Can I hold both FICSX and GISOX in my portfolio?

FICSX and GISOX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FICSX or GISOX?

GISOX has higher volatility (5.76%) compared to FICSX (3.80%). In terms of maximum drawdown, FICSX dropped -61.39% vs GISOX's -47.98%.

Which has better risk-adjusted returns?

FICSX currently has the higher Sharpe Ratio (1.42 vs 1.17), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.