GPROX vs. PGVFX

Last updated Jun 25, 2026

GPROX (Grandeur Peak Global Reach Fund) and PGVFX (Polaris Global Value Fund) are both Global Equities funds. Over the past 10 years, GPROX returned 9.11%/yr vs 11.58%/yr for PGVFX. A 0.78 correlation means they provide meaningful diversification when combined. GPROX charges 1.49%/yr vs 0.99%/yr for PGVFX.

Performance

GPROX vs. PGVFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grandeur Peak Global Reach Fund (GPROX) and Polaris Global Value Fund (PGVFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GPROX achieves a 4.79% return, which is significantly lower than PGVFX's 18.86% return. Over the past 10 years, GPROX has underperformed PGVFX with an annualized return of 9.11%, while PGVFX has yielded a comparatively higher 11.58% annualized return.

GPROX

• 1D: -1.70%
• 1M: -1.57%
• YTD: 4.79%
• 6M: 4.26%
• 1Y: 7.10%
• 3Y*: 9.97%
• 5Y*: -1.21%
• 10Y*: 9.11%

PGVFX

• 1D: -1.95%
• 1M: 0.48%
• YTD: 18.86%
• 6M: 18.76%
• 1Y: 35.91%
• 3Y*: 21.35%
• 5Y*: 9.99%
• 10Y*: 11.58%

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

GPROX vs. PGVFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GPROX Grandeur Peak Global Reach Fund	4.79%	8.87%	5.51%	14.86%	-34.54%	19.78%	41.16%	29.39%	-15.86%	30.73%
PGVFX Polaris Global Value Fund	18.86%	27.01%	5.33%	14.76%	-12.00%	15.38%	6.65%	22.83%	-12.64%	20.60%

Correlation

The correlation between GPROX and PGVFX is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (10Y) Calculated over the trailing 10-year period	0.77
Correlation (All Time) Calculated using the full available price history since Jan 2, 2014	0.78

The correlation between GPROX and PGVFX has been stable across timeframes, ranging from 0.70 to 0.78 - a consistent structural relationship.

Return for Risk

GPROX vs. PGVFX — Risk / Return Rank

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

GPROX

GPROX Risk / Return Rank: 10
GPROX Sharpe Ratio Rank: 9
GPROX Sortino Ratio Rank: 10
GPROX Omega Ratio Rank: 9
GPROX Calmar Ratio Rank: 9
GPROX Martin Ratio Rank: 11

PGVFX

PGVFX Risk / Return Rank: 91
PGVFX Sharpe Ratio Rank: 96
PGVFX Sortino Ratio Rank: 93
PGVFX Omega Ratio Rank: 89
PGVFX Calmar Ratio Rank: 91
PGVFX Martin Ratio Rank: 89

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.

GPROX vs. PGVFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grandeur Peak Global Reach Fund (GPROX) and Polaris Global Value Fund (PGVFX). 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.

	GPROX	PGVFX	Difference
Sharpe ratio: Return per unit of total volatility	0.63	3.06	-2.43
Sortino ratio: Return per unit of downside risk	1.04	4.22	-3.18
Omega ratio: Gain probability vs. loss probability	1.12	1.57	-0.45
Calmar ratio: Return relative to maximum drawdown	0.75	4.35	-3.59
Martin ratio: Return relative to average drawdown	2.54	15.62	-13.09

GPROX vs. PGVFX - Sharpe Ratio Comparison

The current GPROX Sharpe Ratio is 0.63, which is lower than the PGVFX Sharpe Ratio of 3.06. The chart below compares the historical Sharpe Ratios of GPROX and PGVFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GPROX vs. PGVFX - Drawdown Comparison

The maximum GPROX drawdown since its inception was -43.86%, smaller than the maximum PGVFX drawdown of -68.09%. Use the drawdown chart below to compare losses from any high point for GPROX and PGVFX.

Drawdown Indicators

	GPROX	PGVFX	Difference
Max Drawdown Largest peak-to-trough decline	-43.86%	-68.09%	+24.23%
Max Drawdown (1Y) Largest decline over 1 year	-12.29%	-8.76%	-3.53%
Max Drawdown (3Y) Largest decline over 3 years	-17.51%	-12.53%	-4.98%
Max Drawdown (5Y) Largest decline over 5 years	-43.86%	-27.58%	-16.28%
Max Drawdown (10Y) Largest decline over 10 years	-43.86%	-41.26%	-2.60%
Current Drawdown Current decline from peak	-13.79%	-1.95%	-11.84%
Average Drawdown Average peak-to-trough decline	-12.98%	-11.28%	-1.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.63%	2.43%	+1.20%

Volatility

GPROX vs. PGVFX - Volatility Comparison

Grandeur Peak Global Reach Fund (GPROX) has a higher volatility of 5.30% compared to Polaris Global Value Fund (PGVFX) at 4.64%. This indicates that GPROX's price experiences larger fluctuations and is considered to be riskier than PGVFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GPROX	PGVFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.30%	4.64%	+0.66%
Volatility (6M) Calculated over the trailing 6-month period	12.23%	10.38%	+1.85%
Volatility (1Y) Calculated over the trailing 1-year period	14.58%	12.42%	+2.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.00%	13.89%	+4.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.05%	15.72%	+1.33%

GPROX vs. PGVFX - Expense Ratio Comparison

GPROX has a 1.49% expense ratio, which is higher than PGVFX's 0.99% expense ratio.

Dividends

GPROX vs. PGVFX - Dividend Comparison

GPROX's dividend yield for the trailing twelve months is around 18.79%, more than PGVFX's 4.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GPROX Grandeur Peak Global Reach Fund	18.79%	19.69%	12.03%	0.14%	0.00%	15.32%	8.09%	2.58%	11.25%	1.49%	0.13%	3.75%
PGVFX Polaris Global Value Fund	4.35%	5.17%	5.65%	1.68%	3.55%	4.05%	1.55%	3.69%	3.39%	1.50%	1.32%	1.26%

Frequently Asked Questions

Can I hold both GPROX and PGVFX in my portfolio?

GPROX and PGVFX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GPROX or PGVFX?

GPROX has higher volatility (5.30%) compared to PGVFX (4.64%). In terms of maximum drawdown, GPROX dropped -43.86% vs PGVFX's -68.09%.

Which has better risk-adjusted returns?

PGVFX currently has the higher Sharpe Ratio (3.06 vs 0.63), 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.