Fund Evaluator:

Grandeur Peak Global Stalwarts Investor Overview

Grandeur Peak Global Stalwarts Investor (GGSOX) is an actively managed International Equity Global Small/Mid Stock fund. Grandeur Peak Funds launched the fund in 2015.

The investment seeks long-term growth of capital. The fund invests primarily in foreign and domestic companies. Under normal market conditions, the Adviser will invest the fund's assets primarily in equity securities of foreign and domestic companies with market capitalizations of more than $1.5 billion at the time of purchase. The fund will invest a significant portion of its total assets in securities issued by companies that are economically tied to countries outside the United States. It may invest a significant amount of its total assets in securities issued by companies economically tied to emerging and frontier market countries.

About Grandeur Peak Global Stalwarts Investor (GGSOX)

There are 4 members of the management team with an average tenure of 5.63 years: Randy Pearce (2015), Brad Barth (2019), Phil Naylor (2022), Robert Gardiner (2025). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: MSCI ACWI IMI NR USD index with a weighting of 100% and MSCI ACWI Mid Cap NR USD index with a weighting of 100%. Grandeur Peak Global Stalwarts Investor has 88 securities in its portfolio. The top 10 holdings constitute 27.0% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

Grandeur Peak Global Stalwarts Investor is part of the Equity global asset class and is within the International Equity fund group. Grandeur Peak Global Stalwarts Investor has 66.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 29.7%. There is 66.9% allocated to foreign stock, and 0.7% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Grandeur Peak Global Stalwarts Investor has 2.1% of the portfolio in cash.

Assets Under Management

The fund has $11 million in total assets, which is below the $865 million average for the Global Small/Mid Stock category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

GGSOX Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Grandeur Peak Global Stalwarts Investor expense ratio is high compared to funds in the Global Small/Mid Stock category. Grandeur Peak Global Stalwarts Investor has an expense ratio of 1.35%, which is 8% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. Grandeur Peak Global Stalwarts Investor has a portfolio turnover rate of 79%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 56% for the Global Small/Mid Stock category.

Recently, in the month of June 2026, Grandeur Peak Global Stalwarts Investor returned -1.6%, which earned it a grade of D, as the Global Small/Mid Stock category had an average return of 1.2%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.

Grandeur Peak Global Stalwarts Investor has a trailing yield of 0.00%, which is below the 1.34% category average. The fund normally distributes its income annually and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

Grandeur Peak Global Stalwarts Investor Grades

Year to date, the fund has returned 13.0%, 0.3 percentage points worse than the category, which translates into a grade of C. The fund has returned 8.0% over the past year (grade of F), 7.1% over the past three years (grade of F) and -4.0% per year over the past five years (grade of F) and 7.4% per year over the past 10 years (grade of F).

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