GPGCX vs. GISOX

Last updated Jun 3, 2026

GPGCX (Grandeur Peak Global Contrarian Fund) and GISOX (Grandeur Peak International Stalwarts Fund) are both mutual funds - GPGCX is a Global Equities fund managed by Grandeur Peak Funds, while GISOX is a Foreign Small & Mid Cap Equities fund managed by Grandeur Peak Funds. Over the past 5 years, GPGCX returned 9.43%/yr vs -1.43%/yr for GISOX. Their correlation of 0.81 suggests significant overlap in exposure. GPGCX charges 1.35%/yr vs 1.15%/yr for GISOX.

Performance

GPGCX vs. GISOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grandeur Peak Global Contrarian Fund (GPGCX) 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, GPGCX achieves a 7.69% return, which is significantly lower than GISOX's 20.07% return.

GPGCX

• 1D: -1.10%
• 1M: 2.63%
• YTD: 7.69%
• 6M: 12.41%
• 1Y: 20.42%
• 3Y*: 19.35%
• 5Y*: 9.43%
• 10Y*: —

GISOX

• 1D: -1.12%
• 1M: 2.38%
• YTD: 20.07%
• 6M: 22.99%
• 1Y: 19.94%
• 3Y*: 9.26%
• 5Y*: -1.43%
• 10Y*: 7.93%

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

GPGCX vs. GISOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
GPGCX Grandeur Peak Global Contrarian Fund	7.69%	20.03%	14.97%	21.28%	-14.60%	20.00%	24.99%	9.60%
GISOX Grandeur Peak International Stalwarts Fund	20.07%	9.82%	-10.00%	14.58%	-37.61%	24.41%	38.16%	10.63%

Correlation

The correlation between GPGCX and GISOX is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (All Time) Calculated using the full available price history since Sep 18, 2019	0.81

The correlation between GPGCX and GISOX has been stable across timeframes, ranging from 0.80 to 0.81 - a consistent structural relationship.

Return for Risk

GPGCX vs. GISOX — Risk / Return Rank

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

GPGCX

GPGCX Risk / Return Rank: 23
GPGCX Sharpe Ratio Rank: 26
GPGCX Sortino Ratio Rank: 27
GPGCX Omega Ratio Rank: 25
GPGCX Calmar Ratio Rank: 17
GPGCX Martin Ratio Rank: 19

GISOX

GISOX Risk / Return Rank: 19
GISOX Sharpe Ratio Rank: 17
GISOX Sortino Ratio Rank: 19
GISOX Omega Ratio Rank: 18
GISOX Calmar Ratio Rank: 26
GISOX Martin Ratio Rank: 17

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.

GPGCX vs. GISOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grandeur Peak Global Contrarian Fund (GPGCX) 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.

	GPGCX	GISOX	Difference
Sharpe ratio Return per unit of total volatility	1.48	1.19	+0.29
Sortino ratio Return per unit of downside risk	2.20	1.85	+0.34
Omega ratio Gain probability vs. loss probability	1.27	1.22	+0.04
Calmar ratio Return relative to maximum drawdown	1.53	1.91	-0.37
Martin ratio Return relative to average drawdown	5.25	4.79	+0.46
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GPGCX vs. GISOX - Sharpe Ratio Comparison

The current GPGCX Sharpe Ratio is 1.48, which is comparable to the GISOX Sharpe Ratio of 1.19. The chart below compares the historical Sharpe Ratios of GPGCX 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

	GPGCX	GISOX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.48	1.19	+0.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.66	-0.07	+0.73
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.42	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.92	0.45	+0.47

Drawdowns

GPGCX vs. GISOX - Drawdown Comparison

The maximum GPGCX drawdown since its inception was -37.17%, smaller than the maximum GISOX drawdown of -47.98%. Use the drawdown chart below to compare losses from any high point for GPGCX and GISOX.

Drawdown Indicators

	GPGCX	GISOX	Difference
Max Drawdown Largest peak-to-trough decline	-37.17%	-47.98%	+10.81%
Max Drawdown (1Y) Largest decline over 1 year	-13.17%	-10.42%	-2.75%
Max Drawdown (3Y) Largest decline over 3 years	-16.46%	-22.45%	+5.99%
Max Drawdown (5Y) Largest decline over 5 years	-25.70%	-47.98%	+22.28%
Max Drawdown (10Y) Largest decline over 10 years	—	-47.98%	—
Current Drawdown Current decline from peak	-1.10%	-18.50%	+17.40%
Average Drawdown Average peak-to-trough decline	-6.27%	-17.48%	+11.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.85%	4.15%	-0.30%

Volatility

GPGCX vs. GISOX - Volatility Comparison

The current volatility for Grandeur Peak Global Contrarian Fund (GPGCX) is 4.16%, while Grandeur Peak International Stalwarts Fund (GISOX) has a volatility of 5.82%. This indicates that GPGCX 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

	GPGCX	GISOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.16%	5.82%	-1.66%
Volatility (6M) Calculated over the trailing 6-month period	11.19%	14.35%	-3.16%
Volatility (1Y) Calculated over the trailing 1-year period	14.11%	17.12%	-3.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.41%	20.12%	-5.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.18%	18.85%	-2.67%

GPGCX vs. GISOX - Expense Ratio Comparison

GPGCX has a 1.35% expense ratio, which is higher than GISOX's 1.15% expense ratio.

Dividends

GPGCX vs. GISOX - Dividend Comparison

GPGCX's dividend yield for the trailing twelve months is around 14.54%, more than GISOX's 0.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
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%
GPGCX Grandeur Peak Global Contrarian Fund	14.54%	15.65%	7.19%	1.92%	2.98%	5.88%	1.70%	0.27%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GPGCX and GISOX in my portfolio?

GPGCX and GISOX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GPGCX or GISOX?

GISOX has higher volatility (5.82%) compared to GPGCX (4.16%). In terms of maximum drawdown, GPGCX dropped -37.17% vs GISOX's -47.98%.

Which has better risk-adjusted returns?

GPGCX currently has the higher Sharpe Ratio (1.48 vs 1.19), 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.