GPEOX vs. GISOX

Last updated Jun 4, 2026

GPEOX (Grandeur Peak Emerging Markets Opportunities Fund) and GISOX (Grandeur Peak International Stalwarts Fund) are both mutual funds - GPEOX is a Emerging Markets Diversified fund managed by Grandeur Peak Funds, while GISOX is a Foreign Small & Mid Cap Equities fund managed by Grandeur Peak Funds. Over the past 10 years, GPEOX returned 6.47%/yr vs 7.93%/yr for GISOX. Their correlation of 0.82 suggests significant overlap in exposure. GPEOX charges 1.68%/yr vs 1.15%/yr for GISOX.

Performance

GPEOX vs. GISOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grandeur Peak Emerging Markets Opportunities Fund (GPEOX) 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, GPEOX achieves a 17.47% return, which is significantly lower than GISOX's 20.07% return. Over the past 10 years, GPEOX has underperformed GISOX with an annualized return of 6.47%, while GISOX has yielded a comparatively higher 7.93% annualized return.

GPEOX

• 1D: -1.83%
• 1M: -2.08%
• YTD: 17.47%
• 6M: 17.16%
• 1Y: 23.16%
• 3Y*: 8.12%
• 5Y*: -0.38%
• 10Y*: 6.47%

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)

GPEOX vs. GISOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GPEOX Grandeur Peak Emerging Markets Opportunities Fund	17.47%	9.08%	-7.19%	12.00%	-24.72%	8.87%	30.71%	23.35%	-20.66%	28.27%
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 GPEOX 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	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (10Y) Calculated over the trailing 10-year period	0.81
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.82

The correlation between GPEOX and GISOX has been stable across timeframes, ranging from 0.78 to 0.82 - a consistent structural relationship.

Return for Risk

GPEOX vs. GISOX — Risk / Return Rank

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

GPEOX

GPEOX Risk / Return Rank: 29
GPEOX Sharpe Ratio Rank: 26
GPEOX Sortino Ratio Rank: 26
GPEOX Omega Ratio Rank: 28
GPEOX Calmar Ratio Rank: 37
GPEOX Martin Ratio Rank: 28

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.

GPEOX vs. GISOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grandeur Peak Emerging Markets Opportunities Fund (GPEOX) 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.

	GPEOX	GISOX	Difference
Sharpe ratio: Return per unit of total volatility	1.46	1.17	+0.29
Sortino ratio: Return per unit of downside risk	2.15	1.83	+0.32
Omega ratio: Gain probability vs. loss probability	1.28	1.22	+0.06
Calmar ratio: Return relative to maximum drawdown	2.31	1.92	+0.38
Martin ratio: Return relative to average drawdown	6.69	4.81	+1.88
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GPEOX vs. GISOX - Sharpe Ratio Comparison

The current GPEOX Sharpe Ratio is 1.46, which is comparable to the GISOX Sharpe Ratio of 1.17. The chart below compares the historical Sharpe Ratios of GPEOX 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

	GPEOX	GISOX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.46	1.17	+0.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.03	-0.06	+0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	0.42	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.45	-0.07

Drawdowns

GPEOX vs. GISOX - Drawdown Comparison

The maximum GPEOX drawdown since its inception was -35.84%, smaller than the maximum GISOX drawdown of -47.98%. Use the drawdown chart below to compare losses from any high point for GPEOX and GISOX.

Drawdown Indicators

	GPEOX	GISOX	Difference
Max Drawdown Largest peak-to-trough decline	-35.84%	-47.98%	+12.14%
Max Drawdown (1Y) Largest decline over 1 year	-10.22%	-10.42%	+0.20%
Max Drawdown (3Y) Largest decline over 3 years	-19.53%	-22.45%	+2.92%
Max Drawdown (5Y) Largest decline over 5 years	-35.84%	-47.98%	+12.14%
Max Drawdown (10Y) Largest decline over 10 years	-35.84%	-47.98%	+12.14%
Current Drawdown Current decline from peak	-5.91%	-18.50%	+12.59%
Average Drawdown Average peak-to-trough decline	-13.18%	-17.48%	+4.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.52%	4.15%	-0.63%

Volatility

GPEOX vs. GISOX - Volatility Comparison

Grandeur Peak Emerging Markets Opportunities Fund (GPEOX) and Grandeur Peak International Stalwarts Fund (GISOX) have volatilities of 5.53% and 5.76%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GPEOX	GISOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.53%	5.76%	-0.23%
Volatility (6M) Calculated over the trailing 6-month period	13.72%	14.32%	-0.60%
Volatility (1Y) Calculated over the trailing 1-year period	16.13%	17.09%	-0.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.42%	20.12%	-5.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.53%	18.85%	-4.32%

GPEOX vs. GISOX - Expense Ratio Comparison

GPEOX has a 1.68% expense ratio, which is higher than GISOX's 1.15% expense ratio.

Dividends

GPEOX vs. GISOX - Dividend Comparison

GPEOX's dividend yield for the trailing twelve months is around 22.14%, more than GISOX's 0.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
GPEOX Grandeur Peak Emerging Markets Opportunities Fund	22.14%	26.01%	3.76%	3.73%	0.16%	12.45%	0.02%	0.06%	1.03%	0.23%	0.39%	3.58%

Frequently Asked Questions

Can I hold both GPEOX and GISOX in my portfolio?

GPEOX 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, GPEOX or GISOX?

GISOX has higher volatility (5.76%) compared to GPEOX (5.53%). In terms of maximum drawdown, GPEOX dropped -35.84% vs GISOX's -47.98%.

Which has better risk-adjusted returns?

GPEOX currently has the higher Sharpe Ratio (1.46 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.