GPGOX vs. MBXAX
GPGOX (Grandeur Peak Global Opportunities Fund) and MBXAX (Catalyst/Millburn Hedge Strategy Fund) are both mutual funds - GPGOX is a Global Equities fund managed by Grandeur Peak Funds, while MBXAX is a Multistrategy fund managed by Catalyst Mutual Funds. Over the past 10 years, GPGOX returned 7.79%/yr vs 7.41%/yr for MBXAX. Their 0.45 correlation means their historical movements had little consistent relationship. GPGOX charges 1.54%/yr vs 2.18%/yr for MBXAX.
Performance
GPGOX vs. MBXAX - Performance Comparison
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Returns By Period
In the year-to-date period, GPGOX achieves a 10.79% return, which is significantly lower than MBXAX's 12.74% return. Both investments have delivered pretty close results over the past 10 years, with GPGOX having a 7.79% annualized return and MBXAX not far behind at 7.41%.
GPGOX
- 1D
- 2.15%
- 1M
- -1.81%
- 6M
- 8.26%
- YTD
- 10.79%
- 1Y
- 12.83%
- 3Y*
- 4.50%
- 5Y*
- -3.32%
- 10Y*
- 7.79%
- ALL TIME*
- 9.80%
MBXAX
- 1D
- -0.29%
- 1M
- -2.04%
- 6M
- 8.41%
- YTD
- 12.74%
- 1Y
- 17.15%
- 3Y*
- 9.84%
- 5Y*
- 7.12%
- 10Y*
- 7.41%
- ALL TIME*
- 8.86%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
GPGOX vs. MBXAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GPGOX Grandeur Peak Global Opportunities Fund | 10.79% | 8.59% | -10.10% | 16.25% | -33.55% | 21.59% | 44.61% | 31.15% | -17.95% | 32.53% |
MBXAX Catalyst/Millburn Hedge Strategy Fund | 12.74% | 4.13% | 13.17% | -0.91% | 7.46% | 16.62% | -0.72% | 13.59% | -2.43% | 13.69% |
Correlation
The correlation between GPGOX and MBXAX is 0.36, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.36 |
Correlation (3Y) Balances recent behavior with more history. | 0.25 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.27 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.44 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 0.45 |
The correlation between GPGOX and MBXAX shifts across timeframes, from 0.25 (3 years) to 0.45 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GPGOX vs. MBXAX — Risk / Return Rank
GPGOX
MBXAX
GPGOX vs. MBXAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grandeur Peak Global Opportunities Fund (GPGOX) and Catalyst/Millburn Hedge Strategy Fund (MBXAX). 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.
| GPGOX | MBXAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.44 | ||
| Sortino ratioReturn per unit of downside risk | -2.00 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.40 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 0.87 | 3.77 | -2.91 |
| Martin ratioReturn relative to average drawdown | 2.67 | 14.56 | -11.89 |
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Drawdowns
GPGOX vs. MBXAX - Drawdown Comparison
The maximum GPGOX drawdown since its inception was -43.46%, which is greater than MBXAX's maximum drawdown of -31.75%. Use the drawdown chart below to compare losses from any high point for GPGOX and MBXAX.
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Drawdown Indicators
| GPGOX | MBXAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.46% | -31.75% | -11.71% |
Max Drawdown (1Y)Largest decline over 1 year | -13.06% | -3.89% | -9.17% |
Max Drawdown (3Y)Largest decline over 3 years | -24.05% | -15.66% | -8.39% |
Max Drawdown (5Y)Largest decline over 5 years | -43.46% | -15.66% | -27.80% |
Max Drawdown (10Y)Largest decline over 10 years | -43.46% | -31.75% | -11.71% |
Current DrawdownCurrent decline from peak | -19.49% | -2.69% | -16.80% |
Average DrawdownAverage peak-to-trough decline | -12.44% | -4.00% | -8.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.23% | 1.05% | +3.18% |
Volatility
GPGOX vs. MBXAX - Volatility Comparison
Grandeur Peak Global Opportunities Fund (GPGOX) has a higher volatility of 4.69% compared to Catalyst/Millburn Hedge Strategy Fund (MBXAX) at 1.59%. This indicates that GPGOX's price experiences larger fluctuations and is considered to be riskier than MBXAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GPGOX | MBXAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.69% | 1.59% | +3.10% |
Volatility (6M)Calculated over the trailing 6-month period | 13.71% | 4.87% | +8.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.26% | 6.87% | +9.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.46% | 11.39% | +6.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.98% | 13.36% | +3.62% |
GPGOX vs. MBXAX - Expense Ratio Comparison
GPGOX has a 1.54% expense ratio, which is lower than MBXAX's 2.18% expense ratio.
Dividends
GPGOX vs. MBXAX - Dividend Comparison
GPGOX's dividend yield for the trailing twelve months is around 4.58%, while MBXAX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GPGOX Grandeur Peak Global Opportunities Fund | 4.58% | 5.08% | 1.54% | 0.43% | 1.70% | 19.69% | 7.51% | 5.55% | 11.23% | 5.50% | 0.12% | 8.28% |
MBXAX Catalyst/Millburn Hedge Strategy Fund | 0.00% | 0.00% | 2.43% | 2.02% | 7.57% | 0.00% | 3.92% | 4.96% | 3.07% | 3.35% | 1.82% | 0.00% |
Frequently Asked Questions
GPGOX and MBXAX have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GPGOX has higher volatility (4.69%) compared to MBXAX (1.59%). In terms of maximum drawdown, GPGOX dropped -43.46% vs MBXAX's -31.75%.
MBXAX currently has the higher Sharpe Ratio (2.13 vs 0.70), 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.
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