IRCZX vs. GISOX

Last updated Jun 5, 2026

IRCZX (AB International Small Cap Portfolio) and GISOX (Grandeur Peak International Stalwarts Fund) are both Foreign Small & Mid Cap Equities funds. Over the past 10 years, IRCZX returned 8.76%/yr vs 7.90%/yr for GISOX. Their correlation of 0.84 suggests significant overlap in exposure. IRCZX charges 1.07%/yr vs 1.15%/yr for GISOX.

Performance

IRCZX vs. GISOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AB International Small Cap Portfolio (IRCZX) 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, IRCZX achieves a 13.06% return, which is significantly lower than GISOX's 19.73% return. Over the past 10 years, IRCZX has outperformed GISOX with an annualized return of 8.76%, while GISOX has yielded a comparatively lower 7.90% annualized return.

IRCZX

• 1D: -1.03%
• 1M: -0.32%
• YTD: 13.06%
• 6M: 16.08%
• 1Y: 26.80%
• 3Y*: 20.09%
• 5Y*: 7.58%
• 10Y*: 8.76%

GISOX

• 1D: -0.28%
• 1M: 0.57%
• YTD: 19.73%
• 6M: 20.89%
• 1Y: 18.92%
• 3Y*: 9.16%
• 5Y*: -1.39%
• 10Y*: 7.90%

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

IRCZX vs. GISOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IRCZX AB International Small Cap Portfolio	13.06%	34.96%	7.69%	13.19%	-20.89%	12.49%	8.23%	19.37%	-17.67%	32.14%
GISOX Grandeur Peak International Stalwarts Fund	19.73%	9.82%	-10.00%	14.58%	-37.61%	24.41%	38.16%	31.57%	-17.66%	36.78%

Correlation

The correlation between IRCZX 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	0.82
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.84

The correlation between IRCZX and GISOX has been stable across timeframes, ranging from 0.80 to 0.84 - a consistent structural relationship.

Return for Risk

IRCZX vs. GISOX — Risk / Return Rank

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

IRCZX

IRCZX Risk / Return Rank: 46
IRCZX Sharpe Ratio Rank: 47
IRCZX Sortino Ratio Rank: 44
IRCZX Omega Ratio Rank: 50
IRCZX Calmar Ratio Rank: 42
IRCZX Martin Ratio Rank: 48

GISOX

GISOX Risk / Return Rank: 21
GISOX Sharpe Ratio Rank: 18
GISOX Sortino Ratio Rank: 20
GISOX Omega Ratio Rank: 19
GISOX Calmar Ratio Rank: 28
GISOX Martin Ratio Rank: 18

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.

IRCZX vs. GISOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AB International Small Cap Portfolio (IRCZX) 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.

	IRCZX	GISOX	Difference
Sharpe ratio: Return per unit of total volatility	1.94	1.17	+0.78
Sortino ratio: Return per unit of downside risk	2.69	1.83	+0.86
Omega ratio: Gain probability vs. loss probability	1.37	1.22	+0.15
Calmar ratio: Return relative to maximum drawdown	2.41	1.92	+0.49
Martin ratio: Return relative to average drawdown	9.65	4.79	+4.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IRCZX vs. GISOX - Sharpe Ratio Comparison

The current IRCZX Sharpe Ratio is 1.94, which is higher than the GISOX Sharpe Ratio of 1.17. The chart below compares the historical Sharpe Ratios of IRCZX 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

	IRCZX	GISOX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.94	1.17	+0.78
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.49	-0.07	+0.56
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	0.42	+0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.45	+0.11

Drawdowns

IRCZX vs. GISOX - Drawdown Comparison

The maximum IRCZX drawdown since its inception was -44.50%, smaller than the maximum GISOX drawdown of -47.98%. Use the drawdown chart below to compare losses from any high point for IRCZX and GISOX.

Drawdown Indicators

	IRCZX	GISOX	Difference
Max Drawdown Largest peak-to-trough decline	-44.50%	-47.98%	+3.48%
Max Drawdown (1Y) Largest decline over 1 year	-11.59%	-10.42%	-1.17%
Max Drawdown (3Y) Largest decline over 3 years	-13.74%	-22.45%	+8.71%
Max Drawdown (5Y) Largest decline over 5 years	-34.68%	-47.98%	+13.30%
Max Drawdown (10Y) Largest decline over 10 years	-44.50%	-47.98%	+3.48%
Current Drawdown Current decline from peak	-2.53%	-18.73%	+16.20%
Average Drawdown Average peak-to-trough decline	-9.35%	-17.48%	+8.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.89%	4.16%	-1.27%

Volatility

IRCZX vs. GISOX - Volatility Comparison

The current volatility for AB International Small Cap Portfolio (IRCZX) is 5.01%, while Grandeur Peak International Stalwarts Fund (GISOX) has a volatility of 5.69%. This indicates that IRCZX 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

	IRCZX	GISOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.01%	5.69%	-0.68%
Volatility (6M) Calculated over the trailing 6-month period	12.15%	14.26%	-2.11%
Volatility (1Y) Calculated over the trailing 1-year period	14.37%	17.09%	-2.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.69%	20.12%	-4.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.16%	18.84%	-2.68%

IRCZX vs. GISOX - Expense Ratio Comparison

IRCZX has a 1.07% expense ratio, which is lower than GISOX's 1.15% expense ratio.

Dividends

IRCZX vs. GISOX - Dividend Comparison

IRCZX's dividend yield for the trailing twelve months is around 13.66%, 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%
IRCZX AB International Small Cap Portfolio	13.66%	15.44%	2.70%	2.95%	1.07%	3.88%	1.14%	1.96%	10.24%	3.79%	2.72%

Frequently Asked Questions

Can I hold both IRCZX and GISOX in my portfolio?

IRCZX 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, IRCZX or GISOX?

GISOX has higher volatility (5.69%) compared to IRCZX (5.01%). In terms of maximum drawdown, IRCZX dropped -44.50% vs GISOX's -47.98%.

Which has better risk-adjusted returns?

IRCZX currently has the higher Sharpe Ratio (1.94 vs 1.17), 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.