RYIPX vs. GISOX

Last updated Aug 1, 2026

RYIPX (Royce International Premier Fund) and GISOX (Grandeur Peak International Stalwarts Fund) are both Foreign Small & Mid Cap Equities funds. Over the past 10 years, RYIPX returned 4.37%/yr vs 6.76%/yr for GISOX. Their correlation of 0.82 means they have usually moved in the same direction. RYIPX charges 1.44%/yr vs 1.15%/yr for GISOX.

Performance

RYIPX vs. GISOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Royce International Premier Fund (RYIPX) 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, RYIPX achieves a 1.70% return, which is significantly lower than GISOX's 10.86% return. Over the past 10 years, RYIPX has underperformed GISOX with an annualized return of 4.37%, while GISOX has yielded a comparatively higher 6.76% annualized return.

RYIPX

• 1D: 2.17%
• 1M: -0.26%
• 6M: 1.04%
• YTD: 1.70%
• 1Y: -3.06%
• 3Y*: 1.66%
• 5Y*: -4.83%
• 10Y*: 4.37%
• ALL TIME*: 4.80%

GISOX

• 1D: 3.83%
• 1M: -5.98%
• 6M: 8.45%
• YTD: 10.86%
• 1Y: 9.01%
• 3Y*: 5.61%
• 5Y*: -4.06%
• 10Y*: 6.76%
• ALL TIME*: 7.45%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GISOX Grandeur Peak International Stalwarts Fund	$0.00	$0.00	$0.00
RYIPX Royce International Premier Fund	$0.00	$0.00	$0.00

RYIPX vs. GISOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RYIPX Royce International Premier Fund	1.70%	9.37%	-7.37%	7.68%	-27.27%	5.77%	15.74%	34.22%	-12.76%	39.80%
GISOX Grandeur Peak International Stalwarts Fund	10.86%	9.82%	-10.00%	14.58%	-37.61%	24.41%	38.16%	31.57%	-17.66%	36.78%

Correlation

The correlation between RYIPX and GISOX is 0.75, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.75
Correlation (3Y) Balances recent behavior with more history.	0.79
Correlation (5Y) Shows whether the relationship held over a longer period.	0.83
Correlation (10Y) Provides a long-term view across more market conditions.	0.82
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.82

The correlation between RYIPX and GISOX has been stable across timeframes, ranging from 0.75 to 0.83 - a consistent structural relationship.

Return for Risk

RYIPX vs. GISOX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

RYIPX

RYIPX Risk / Return Rank: 3
RYIPX Sharpe Ratio Rank: 3
RYIPX Sortino Ratio Rank: 2
RYIPX Omega Ratio Rank: 2
RYIPX Calmar Ratio Rank: 3
RYIPX Martin Ratio Rank: 3

GISOX

GISOX Risk / Return Rank: 13
GISOX Sharpe Ratio Rank: 12
GISOX Sortino Ratio Rank: 12
GISOX Omega Ratio Rank: 12
GISOX Calmar Ratio Rank: 13
GISOX Martin Ratio Rank: 14

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

RYIPX vs. GISOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Royce International Premier Fund (RYIPX) 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.

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.

	RYIPX	GISOX	Difference
Sharpe ratio: Return per unit of total volatility	-0.22	0.44	-0.66
Sortino ratio: Return per unit of downside risk	-0.22	0.77	-0.99
Omega ratio: Gain probability vs. loss probability	0.97	1.09	-0.12
Calmar ratio: Return relative to maximum drawdown	-0.20	0.65	-0.85
Martin ratio: Return relative to average drawdown	-0.48	1.93	-2.41

RYIPX vs. GISOX - Sharpe Ratio Comparison

The current RYIPX Sharpe Ratio is -0.22, which is lower than the GISOX Sharpe Ratio of 0.44. The chart below compares the historical Sharpe Ratios of RYIPX 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.

Drawdowns

RYIPX vs. GISOX - Drawdown Comparison

The maximum RYIPX drawdown since its inception was -42.14%, smaller than the maximum GISOX drawdown of -47.98%. Use the drawdown chart below to compare losses from any high point for RYIPX and GISOX.

Drawdown Indicators

	RYIPX	GISOX	Difference
Max Drawdown Largest peak-to-trough decline	-42.14%	-47.98%	+5.84%
Max Drawdown (1Y) Largest decline over 1 year	-15.56%	-13.42%	-2.14%
Max Drawdown (3Y) Largest decline over 3 years	-17.41%	-22.45%	+5.04%
Max Drawdown (5Y) Largest decline over 5 years	-42.14%	-47.98%	+5.84%
Max Drawdown (10Y) Largest decline over 10 years	-42.14%	-47.98%	+5.84%
Current Drawdown Current decline from peak	-26.35%	-24.75%	-1.60%
Average Drawdown Average peak-to-trough decline	-12.51%	-17.54%	+5.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.37%	4.50%	+1.87%

Volatility

RYIPX vs. GISOX - Volatility Comparison

The current volatility for Royce International Premier Fund (RYIPX) is 4.63%, while Grandeur Peak International Stalwarts Fund (GISOX) has a volatility of 7.21%. This indicates that RYIPX 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

	RYIPX	GISOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.63%	7.21%	-2.58%
Volatility (6M) Calculated over the trailing 6-month period	11.57%	17.37%	-5.80%
Volatility (1Y) Calculated over the trailing 1-year period	13.79%	19.71%	-5.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.57%	20.59%	-5.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.08%	18.95%	-3.87%

RYIPX vs. GISOX - Expense Ratio Comparison

RYIPX has a 1.44% expense ratio, which is higher than GISOX's 1.15% expense ratio.

Dividends

RYIPX vs. GISOX - Dividend Comparison

RYIPX's dividend yield for the trailing twelve months is around 0.78%, more than GISOX's 0.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GISOX Grandeur Peak International Stalwarts Fund	0.45%	0.50%	0.45%	0.54%	0.10%	8.61%	0.21%	0.14%	2.76%	1.38%	0.29%	0.00%
RYIPX Royce International Premier Fund	0.78%	0.79%	4.10%	2.18%	3.18%	4.51%	0.00%	0.20%	0.00%	0.71%	2.40%	2.61%

Frequently Asked Questions

Can I hold both RYIPX and GISOX in my portfolio?

RYIPX and GISOX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RYIPX or GISOX?

GISOX has higher volatility (7.21%) compared to RYIPX (4.63%). In terms of maximum drawdown, RYIPX dropped -42.14% vs GISOX's -47.98%.

Which has better risk-adjusted returns?

GISOX currently has the higher Sharpe Ratio (0.44 vs -0.22), 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.