GPIOX vs. KGGIX
GPIOX (Grandeur Peak International Opportunities Fund) and KGGIX (Kopernik Global All-Cap Fund) are both Foreign Small & Mid Cap Equities funds. Over the past 10 years, GPIOX returned 6.07%/yr vs 12.73%/yr for KGGIX. A 0.53 correlation means they provide meaningful diversification when combined. GPIOX charges 1.55%/yr vs 1.01%/yr for KGGIX.
Performance
GPIOX vs. KGGIX - Performance Comparison
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Returns By Period
In the year-to-date period, GPIOX achieves a 9.12% return, which is significantly higher than KGGIX's 4.96% return. Over the past 10 years, GPIOX has underperformed KGGIX with an annualized return of 6.07%, while KGGIX has yielded a comparatively higher 12.73% annualized return.
GPIOX
- 1D
- 1.13%
- 1M
- 0.56%
- YTD
- 9.12%
- 6M
- 9.79%
- 1Y
- 11.71%
- 3Y*
- 3.94%
- 5Y*
- -3.62%
- 10Y*
- 6.07%
KGGIX
- 1D
- -1.63%
- 1M
- -4.18%
- YTD
- 4.96%
- 6M
- 4.99%
- 1Y
- 32.02%
- 3Y*
- 20.59%
- 5Y*
- 11.07%
- 10Y*
- 12.73%
GPIOX vs. KGGIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GPIOX Grandeur Peak International Opportunities Fund | 9.12% | 11.78% | -11.63% | 11.37% | -34.48% | 18.43% | 36.89% | 28.23% | -21.77% | 38.69% |
KGGIX Kopernik Global All-Cap Fund | 4.96% | 64.88% | -4.91% | 13.43% | -9.05% | 16.86% | 37.23% | 10.00% | -11.07% | 8.98% |
Correlation
The correlation between GPIOX and KGGIX is 0.51, 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 | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Nov 6, 2013 | 0.53 |
The correlation between GPIOX and KGGIX has been stable across timeframes, ranging from 0.49 to 0.54 - a consistent structural relationship.
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Return for Risk
GPIOX vs. KGGIX — Risk / Return Rank
GPIOX
KGGIX
GPIOX vs. KGGIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grandeur Peak International Opportunities Fund (GPIOX) and Kopernik Global All-Cap Fund (KGGIX). 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.
| GPIOX | KGGIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.32 | ||
| Sortino ratioReturn per unit of downside risk | -1.46 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.35 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 0.80 | 2.86 | -2.05 |
| Martin ratioReturn relative to average drawdown | 2.46 | 8.36 | -5.90 |
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Drawdowns
GPIOX vs. KGGIX - Drawdown Comparison
The maximum GPIOX drawdown since its inception was -45.01%, roughly equal to the maximum KGGIX drawdown of -45.11%. Use the drawdown chart below to compare losses from any high point for GPIOX and KGGIX.
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Drawdown Indicators
| GPIOX | KGGIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.01% | -45.11% | +0.10% |
Max Drawdown (1Y)Largest decline over 1 year | -13.37% | -10.65% | -2.72% |
Max Drawdown (3Y)Largest decline over 3 years | -22.28% | -13.76% | -8.52% |
Max Drawdown (5Y)Largest decline over 5 years | -45.01% | -26.43% | -18.58% |
Max Drawdown (10Y)Largest decline over 10 years | -45.01% | -31.59% | -13.42% |
Current DrawdownCurrent decline from peak | -23.95% | -9.20% | -14.75% |
Average DrawdownAverage peak-to-trough decline | -13.95% | -9.50% | -4.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.36% | 3.64% | +0.72% |
Volatility
GPIOX vs. KGGIX - Volatility Comparison
Grandeur Peak International Opportunities Fund (GPIOX) has a higher volatility of 5.87% compared to Kopernik Global All-Cap Fund (KGGIX) at 4.81%. This indicates that GPIOX's price experiences larger fluctuations and is considered to be riskier than KGGIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GPIOX | KGGIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.87% | 4.81% | +1.06% |
Volatility (6M)Calculated over the trailing 6-month period | 13.88% | 12.80% | +1.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.40% | 15.39% | +1.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.05% | 15.26% | +1.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.38% | 15.00% | +1.38% |
GPIOX vs. KGGIX - Expense Ratio Comparison
GPIOX has a 1.55% expense ratio, which is higher than KGGIX's 1.01% expense ratio.
Dividends
GPIOX vs. KGGIX - Dividend Comparison
GPIOX's dividend yield for the trailing twelve months is around 3.25%, less than KGGIX's 15.68% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GPIOX Grandeur Peak International Opportunities Fund | 3.25% | 3.55% | 2.26% | 0.62% | 0.03% | 13.37% | 3.40% | 3.50% | 13.44% | 3.45% | 2.26% | 4.56% |
KGGIX Kopernik Global All-Cap Fund | 15.68% | 16.46% | 1.04% | 8.60% | 13.59% | 9.30% | 4.81% | 3.02% | 0.25% | 4.40% | 3.34% | 0.81% |
Frequently Asked Questions
GPIOX and KGGIX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GPIOX has higher volatility (5.87%) compared to KGGIX (4.81%). In terms of maximum drawdown, GPIOX dropped -45.01% vs KGGIX's -45.11%.
KGGIX currently has the higher Sharpe Ratio (1.98 vs 0.66), 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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