GGSOX vs. AVDV

Last updated Jun 24, 2026

GGSOX (Grandeur Peak Global Stalwarts Fund) and AVDV (Avantis International Small Cap Value ETF) are both funds - GGSOX is a Global Equities fund managed by Grandeur Peak Funds, while AVDV is a Foreign Small & Mid Cap Equities fund actively managed by Avantis. Over the past 5 years, GGSOX returned -3.59%/yr vs 13.85%/yr for AVDV. A 0.75 correlation means they provide meaningful diversification when combined. GGSOX charges 1.21%/yr vs 0.36%/yr for AVDV.

Performance

GGSOX vs. AVDV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grandeur Peak Global Stalwarts Fund (GGSOX) and Avantis International Small Cap Value ETF (AVDV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with GGSOX having a 13.43% return and AVDV slightly lower at 13.23%.

GGSOX

• 1D: -0.87%
• 1M: -0.65%
• YTD: 13.43%
• 6M: 12.52%
• 1Y: 11.97%
• 3Y*: 8.07%
• 5Y*: -3.59%
• 10Y*: 7.69%

AVDV

• 1D: -2.28%
• 1M: -1.84%
• YTD: 13.23%
• 6M: 12.69%
• 1Y: 40.80%
• 3Y*: 27.46%
• 5Y*: 13.85%
• 10Y*: —

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

GGSOX vs. AVDV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
GGSOX Grandeur Peak Global Stalwarts Fund	13.43%	2.60%	-4.60%	16.89%	-39.55%	20.91%	40.70%	11.03%
AVDV Avantis International Small Cap Value ETF	13.23%	49.37%	8.67%	16.85%	-11.47%	15.80%	5.01%	11.78%

Correlation

The correlation between GGSOX and AVDV is 0.73, 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	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (All Time) Calculated using the full available price history since Sep 26, 2019	0.75

The correlation between GGSOX and AVDV has been stable across timeframes, ranging from 0.72 to 0.75 - a consistent structural relationship.

Return for Risk

GGSOX vs. AVDV — Risk / Return Rank

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

GGSOX

GGSOX Risk / Return Rank: 11
GGSOX Sharpe Ratio Rank: 9
GGSOX Sortino Ratio Rank: 10
GGSOX Omega Ratio Rank: 10
GGSOX Calmar Ratio Rank: 15
GGSOX Martin Ratio Rank: 12

AVDV

AVDV Risk / Return Rank: 74
AVDV Sharpe Ratio Rank: 81
AVDV Sortino Ratio Rank: 77
AVDV Omega Ratio Rank: 79
AVDV Calmar Ratio Rank: 65
AVDV Martin Ratio Rank: 69

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.

GGSOX vs. AVDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grandeur Peak Global Stalwarts Fund (GGSOX) and Avantis International Small Cap Value ETF (AVDV). 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.

	GGSOX	AVDV	Difference
Sharpe ratio: Return per unit of total volatility	0.72	2.50	-1.77
Sortino ratio: Return per unit of downside risk	1.19	3.29	-2.10
Omega ratio: Gain probability vs. loss probability	1.14	1.45	-0.30
Calmar ratio: Return relative to maximum drawdown	1.26	3.11	-1.84
Martin ratio: Return relative to average drawdown	3.22	12.36	-9.13

GGSOX vs. AVDV - Sharpe Ratio Comparison

The current GGSOX Sharpe Ratio is 0.72, which is lower than the AVDV Sharpe Ratio of 2.50. The chart below compares the historical Sharpe Ratios of GGSOX and AVDV, 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

GGSOX vs. AVDV - Drawdown Comparison

The maximum GGSOX drawdown since its inception was -48.71%, which is greater than AVDV's maximum drawdown of -43.01%. Use the drawdown chart below to compare losses from any high point for GGSOX and AVDV.

Drawdown Indicators

	GGSOX	AVDV	Difference
Max Drawdown Largest peak-to-trough decline	-48.71%	-43.01%	-5.70%
Max Drawdown (1Y) Largest decline over 1 year	-10.28%	-13.19%	+2.91%
Max Drawdown (3Y) Largest decline over 3 years	-20.76%	-14.17%	-6.59%
Max Drawdown (5Y) Largest decline over 5 years	-48.71%	-28.08%	-20.63%
Max Drawdown (10Y) Largest decline over 10 years	-48.71%	—	—
Current Drawdown Current decline from peak	-26.13%	-3.73%	-22.40%
Average Drawdown Average peak-to-trough decline	-17.61%	-6.74%	-10.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.02%	3.31%	+0.71%

Volatility

GGSOX vs. AVDV - Volatility Comparison

Grandeur Peak Global Stalwarts Fund (GGSOX) has a higher volatility of 7.70% compared to Avantis International Small Cap Value ETF (AVDV) at 6.23%. This indicates that GGSOX's price experiences larger fluctuations and is considered to be riskier than AVDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GGSOX	AVDV	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.70%	6.23%	+1.47%
Volatility (6M) Calculated over the trailing 6-month period	15.15%	14.14%	+1.01%
Volatility (1Y) Calculated over the trailing 1-year period	17.96%	16.42%	+1.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.24%	17.41%	+3.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.89%	19.76%	+0.13%

GGSOX vs. AVDV - Expense Ratio Comparison

GGSOX has a 1.21% expense ratio, which is higher than AVDV's 0.36% expense ratio.

Dividends

GGSOX vs. AVDV - Dividend Comparison

GGSOX has not paid dividends to shareholders, while AVDV's dividend yield for the trailing twelve months is around 4.17%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
AVDV Avantis International Small Cap Value ETF	4.17%	3.05%	4.31%	3.29%	3.17%	2.39%	1.67%	0.36%	0.00%	0.00%	0.00%
GGSOX Grandeur Peak Global Stalwarts Fund	0.00%	0.00%	0.00%	0.11%	0.00%	10.61%	3.19%	1.62%	3.30%	1.63%	0.08%

Frequently Asked Questions

Can I hold both GGSOX and AVDV in my portfolio?

GGSOX and AVDV have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GGSOX or AVDV?

GGSOX has higher volatility (7.70%) compared to AVDV (6.23%). In terms of maximum drawdown, GGSOX dropped -48.71% vs AVDV's -43.01%.

Which has better risk-adjusted returns?

AVDV currently has the higher Sharpe Ratio (2.50 vs 0.72), 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.