FIQJX vs. GISOX

Last updated Jun 23, 2026

FIQJX (Fidelity Advisor International Small Cap Opportunities Fund Class Z) and GISOX (Grandeur Peak International Stalwarts Fund) are both Foreign Small & Mid Cap Equities funds. Over the past 5 years, FIQJX returned 5.14%/yr vs -1.25%/yr for GISOX. Their correlation of 0.86 suggests significant overlap in exposure. FIQJX charges 1.11%/yr vs 1.15%/yr for GISOX.

Performance

FIQJX vs. GISOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor International Small Cap Opportunities Fund Class Z (FIQJX) 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, FIQJX achieves a 6.77% return, which is significantly lower than GISOX's 20.69% return.

FIQJX

• 1D: 0.43%
• 1M: -1.15%
• YTD: 6.77%
• 6M: 7.42%
• 1Y: 15.76%
• 3Y*: 13.72%
• 5Y*: 5.14%
• 10Y*: —

GISOX

• 1D: 1.82%
• 1M: 0.05%
• YTD: 20.69%
• 6M: 21.04%
• 1Y: 20.77%
• 3Y*: 8.36%
• 5Y*: -1.25%
• 10Y*: 7.99%

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

FIQJX vs. GISOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FIQJX Fidelity Advisor International Small Cap Opportunities Fund Class Z	6.77%	25.17%	4.17%	17.10%	-28.85%	17.85%	19.73%	29.22%	-8.85%
GISOX Grandeur Peak International Stalwarts Fund	20.69%	9.82%	-10.00%	14.58%	-37.61%	24.41%	38.16%	31.57%	-11.12%

Correlation

The correlation between FIQJX and GISOX is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (All Time) Calculated using the full available price history since Oct 17, 2018	0.86

The correlation between FIQJX and GISOX has been stable across timeframes, ranging from 0.81 to 0.86 - a consistent structural relationship.

Return for Risk

FIQJX vs. GISOX — Risk / Return Rank

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

FIQJX

FIQJX Risk / Return Rank: 17
FIQJX Sharpe Ratio Rank: 17
FIQJX Sortino Ratio Rank: 18
FIQJX Omega Ratio Rank: 17
FIQJX Calmar Ratio Rank: 17
FIQJX Martin Ratio Rank: 19

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: 29
GISOX Martin Ratio Rank: 19

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.

FIQJX vs. GISOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor International Small Cap Opportunities Fund Class Z (FIQJX) 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	FIQJX	GISOX	Difference
Sharpe ratio: Return per unit of total volatility	1.09	1.08	+0.01
Sortino ratio: Return per unit of downside risk	1.63	1.69	-0.05
Omega ratio: Gain probability vs. loss probability	1.20	1.21	-0.01
Calmar ratio: Return relative to maximum drawdown	1.39	1.90	-0.52
Martin ratio: Return relative to average drawdown	4.57	4.65	-0.09

FIQJX vs. GISOX - Sharpe Ratio Comparison

The current FIQJX Sharpe Ratio is 1.09, which is comparable to the GISOX Sharpe Ratio of 1.08. The chart below compares the historical Sharpe Ratios of FIQJX 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.

Drawdowns

FIQJX vs. GISOX - Drawdown Comparison

The maximum FIQJX drawdown since its inception was -40.67%, smaller than the maximum GISOX drawdown of -47.98%. Use the drawdown chart below to compare losses from any high point for FIQJX and GISOX.

Drawdown Indicators

	FIQJX	GISOX	Difference
Max Drawdown Largest peak-to-trough decline	-40.67%	-47.98%	+7.31%
Max Drawdown (1Y) Largest decline over 1 year	-10.99%	-10.42%	-0.57%
Max Drawdown (3Y) Largest decline over 3 years	-14.60%	-22.45%	+7.85%
Max Drawdown (5Y) Largest decline over 5 years	-40.67%	-47.98%	+7.31%
Max Drawdown (10Y) Largest decline over 10 years	—	-47.98%	—
Current Drawdown Current decline from peak	-1.86%	-18.08%	+16.22%
Average Drawdown Average peak-to-trough decline	-11.76%	-17.48%	+5.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.34%	4.26%	-0.92%

Volatility

FIQJX vs. GISOX - Volatility Comparison

The current volatility for Fidelity Advisor International Small Cap Opportunities Fund Class Z (FIQJX) is 4.74%, while Grandeur Peak International Stalwarts Fund (GISOX) has a volatility of 7.96%. This indicates that FIQJX 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

	FIQJX	GISOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.74%	7.96%	-3.22%
Volatility (6M) Calculated over the trailing 6-month period	11.44%	15.73%	-4.29%
Volatility (1Y) Calculated over the trailing 1-year period	13.97%	18.30%	-4.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.81%	20.34%	-3.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.35%	18.93%	-1.58%

FIQJX vs. GISOX - Expense Ratio Comparison

FIQJX has a 1.11% expense ratio, which is lower than GISOX's 1.15% expense ratio.

Dividends

FIQJX vs. GISOX - Dividend Comparison

FIQJX's dividend yield for the trailing twelve months is around 11.37%, more than GISOX's 0.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FIQJX Fidelity Advisor International Small Cap Opportunities Fund Class Z	11.37%	12.14%	6.63%	3.88%	6.61%	9.01%	0.00%	1.24%	3.21%	0.00%	0.00%
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%

Frequently Asked Questions

Can I hold both FIQJX and GISOX in my portfolio?

FIQJX and GISOX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FIQJX or GISOX?

GISOX has higher volatility (7.96%) compared to FIQJX (4.74%). In terms of maximum drawdown, FIQJX dropped -40.67% vs GISOX's -47.98%.

Which has better risk-adjusted returns?

FIQJX currently has the higher Sharpe Ratio (1.09 vs 1.08), 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.