GPGOX vs. GLOSX

Last updated Jun 3, 2026

GPGOX (Grandeur Peak Global Opportunities Fund) and GLOSX (Pioneer Global Sustainable Equity Fund Class A) are both Global Equities funds. Over the past 10 years, GPGOX returned 8.18%/yr vs 13.90%/yr for GLOSX. A 0.78 correlation means they provide meaningful diversification when combined. GPGOX charges 1.54%/yr vs 1.10%/yr for GLOSX.

Performance

GPGOX vs. GLOSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grandeur Peak Global Opportunities Fund (GPGOX) and Pioneer Global Sustainable Equity Fund Class A (GLOSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GPGOX achieves a 10.50% return, which is significantly lower than GLOSX's 15.61% return. Over the past 10 years, GPGOX has underperformed GLOSX with an annualized return of 8.18%, while GLOSX has yielded a comparatively higher 13.90% annualized return.

GPGOX

• 1D: -1.04%
• 1M: 2.71%
• YTD: 10.50%
• 6M: 13.17%
• 1Y: 15.14%
• 3Y*: 5.81%
• 5Y*: -2.66%
• 10Y*: 8.18%

GLOSX

• 1D: 0.49%
• 1M: 4.64%
• YTD: 15.61%
• 6M: 17.27%
• 1Y: 41.02%
• 3Y*: 25.62%
• 5Y*: 15.07%
• 10Y*: 13.90%

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

GPGOX vs. GLOSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GPGOX Grandeur Peak Global Opportunities Fund	10.50%	8.59%	-10.10%	16.25%	-33.55%	21.59%	44.61%	31.15%	-17.95%	32.53%
GLOSX Pioneer Global Sustainable Equity Fund Class A	15.61%	41.25%	11.45%	16.70%	-9.75%	23.28%	17.79%	23.30%	-16.32%	21.90%

Correlation

The correlation between GPGOX and GLOSX is 0.76, 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	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (10Y) Calculated over the trailing 10-year period	0.78
Correlation (All Time) Calculated using the full available price history since Oct 24, 2011	0.78

The correlation between GPGOX and GLOSX has been stable across timeframes, ranging from 0.76 to 0.78 - a consistent structural relationship.

Return for Risk

GPGOX vs. GLOSX — Risk / Return Rank

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

GPGOX

GPGOX Risk / Return Rank: 13
GPGOX Sharpe Ratio Rank: 13
GPGOX Sortino Ratio Rank: 15
GPGOX Omega Ratio Rank: 14
GPGOX Calmar Ratio Rank: 11
GPGOX Martin Ratio Rank: 12

GLOSX

GLOSX Risk / Return Rank: 88
GLOSX Sharpe Ratio Rank: 94
GLOSX Sortino Ratio Rank: 88
GLOSX Omega Ratio Rank: 85
GLOSX Calmar Ratio Rank: 87
GLOSX Martin Ratio Rank: 88

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.

GPGOX vs. GLOSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grandeur Peak Global Opportunities Fund (GPGOX) and Pioneer Global Sustainable Equity Fund Class A (GLOSX). 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.

	GPGOX	GLOSX	Difference
Sharpe ratio Return per unit of total volatility	1.00	3.22	-2.22
Sortino ratio Return per unit of downside risk	1.58	4.25	-2.67
Omega ratio Gain probability vs. loss probability	1.19	1.58	-0.38
Calmar ratio Return relative to maximum drawdown	1.13	4.23	-3.09
Martin ratio Return relative to average drawdown	3.59	17.07	-13.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GPGOX vs. GLOSX - Sharpe Ratio Comparison

The current GPGOX Sharpe Ratio is 1.00, which is lower than the GLOSX Sharpe Ratio of 3.22. The chart below compares the historical Sharpe Ratios of GPGOX and GLOSX, 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

	GPGOX	GLOSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.00	3.22	-2.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.16	0.97	-1.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.48	0.83	-0.35
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.49	+0.15

Drawdowns

GPGOX vs. GLOSX - Drawdown Comparison

The maximum GPGOX drawdown since its inception was -43.46%, smaller than the maximum GLOSX drawdown of -54.40%. Use the drawdown chart below to compare losses from any high point for GPGOX and GLOSX.

Drawdown Indicators

	GPGOX	GLOSX	Difference
Max Drawdown Largest peak-to-trough decline	-43.46%	-54.40%	+10.94%
Max Drawdown (1Y) Largest decline over 1 year	-13.06%	-10.04%	-3.02%
Max Drawdown (3Y) Largest decline over 3 years	-24.05%	-14.66%	-9.39%
Max Drawdown (5Y) Largest decline over 5 years	-43.46%	-23.72%	-19.74%
Max Drawdown (10Y) Largest decline over 10 years	-43.46%	-33.59%	-9.87%
Current Drawdown Current decline from peak	-19.70%	0.00%	-19.70%
Average Drawdown Average peak-to-trough decline	-12.36%	-9.79%	-2.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.13%	2.49%	+1.64%

Volatility

GPGOX vs. GLOSX - Volatility Comparison

Grandeur Peak Global Opportunities Fund (GPGOX) and Pioneer Global Sustainable Equity Fund Class A (GLOSX) have volatilities of 4.37% and 4.33%, 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

	GPGOX	GLOSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.37%	4.33%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	12.50%	10.25%	+2.25%
Volatility (1Y) Calculated over the trailing 1-year period	15.30%	13.30%	+2.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.25%	15.59%	+1.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.04%	16.84%	+0.20%

GPGOX vs. GLOSX - Expense Ratio Comparison

GPGOX has a 1.54% expense ratio, which is higher than GLOSX's 1.10% expense ratio.

Dividends

GPGOX vs. GLOSX - Dividend Comparison

GPGOX's dividend yield for the trailing twelve months is around 4.59%, less than GLOSX's 9.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GLOSX Pioneer Global Sustainable Equity Fund Class A	9.97%	11.53%	7.73%	1.55%	6.04%	21.00%	0.87%	0.93%	10.44%	1.27%	1.25%	0.60%
GPGOX Grandeur Peak Global Opportunities Fund	4.59%	5.08%	1.54%	0.43%	1.70%	19.69%	7.51%	5.55%	11.23%	5.50%	0.12%	8.28%

Frequently Asked Questions

Can I hold both GPGOX and GLOSX in my portfolio?

GPGOX and GLOSX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GPGOX or GLOSX?

GPGOX has higher volatility (4.37%) compared to GLOSX (4.33%). In terms of maximum drawdown, GPGOX dropped -43.46% vs GLOSX's -54.40%.

Which has better risk-adjusted returns?

GLOSX currently has the higher Sharpe Ratio (3.22 vs 1.00), 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.