Fund Evaluator:
Grandeur Peak Emerg Mkts Opps Instl (GPEIX)
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Fund Details
Grandeur Peak Emerg Mkts Opps Instl Overview
Grandeur Peak Emerg Mkts Opps Instl (GPEIX) is an actively managed International Equity Diversified Emerging Mkts fund. Grandeur Peak Funds launched the fund in 2013.
The investment seeks long-term growth of capital. The fund currently invests primarily in micro- to mid-cap companies that are economically tied to emerging or frontier markets. Under normal market conditions, the adviser will invest at least 80% of the fund's assets in equity securities of such companies. Emerging and frontier markets include all countries excluded from the MSCI World Index of developed countries.
About Grandeur Peak Emerg Mkts Opps Instl (GPEIX)
There are 3 members of the management team with an average tenure of 7.46 years: Blake Walker (2013), Liping Cai (2018), Juliette Douglas (2025). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: MSCI EM IMI GR USD index with a weighting of 100% and MSCI EM SMID GR USD index with a weighting of 100%. Grandeur Peak Emerg Mkts Opps Instl has 68 securities in its portfolio. The top 10 holdings constitute 34.8% 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 Emerg Mkts Opps Instl is part of the Equity global asset class and is within the International Equity fund group. Grandeur Peak Emerg Mkts Opps Instl has 96.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 96.6% allocated to foreign stock, and 0.0% 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 Emerg Mkts Opps Instl has 3.4% of the portfolio in cash.
Assets Under Management
The fund has $28 million in total assets, which is below the $992 million average for the Diversified Emerging Mkts 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.
GPEIX 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 Emerg Mkts Opps Instl expense ratio is high compared to funds in the Diversified Emerging Mkts category. Grandeur Peak Emerg Mkts Opps Instl has an expense ratio of 1.55%, which is 34% higher than its category average, making the fund expense ratio grade a F. 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 Emerg Mkts Opps Instl has a portfolio turnover rate of 30%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 68% for the Diversified Emerging Mkts category.
Recently, in the month of August 2026, Grandeur Peak Emerg Mkts Opps Instl returned 7.3%, which earned it a grade of A, as the Diversified Emerging Mkts category had an average return of 3.9%. 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 Emerg Mkts Opps Instl has a trailing yield of 1.57%, which is below the 1.65% 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 Emerg Mkts Opps Instl Grades
Year to date, the fund has returned 23.3%, 0.4 percentage points worse than the category, which translates into a grade of C. The fund has returned 21.4% over the past year (grade of F), 8.9% over the past three years (grade of F) and -0.2% per year over the past five years (grade of F) and 6.2% per year over the past 10 years (grade of F).
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GPEIX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| GPEIX Return (NAV) | 7.3% | 2.6% | 21.4% | 8.9% | -0.2% | 6.2% |
| GPEIX Grade | A | A | F | F | F | F |
| +/- Category | 3.4% | 3.8% | -16.1% | -12.8% | -7.0% | -2.7% |
| Diversified Emerging Mkts Avg | 3.9% | -1.2% | 37.5% | 21.7% | 6.8% | 8.9% |
| GPEIX Tax Cost Ratio | na | na | 5.4% | 2.5% | 2.0% | 1.1% |
GPEIX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| GPEIX Return (NAV) | 23.3% | 9.1% | -8.6% | 12.2% | -24.5% | 9.0% | 31.0% | 23.6% | -20.5% | 28.3% | 6.9% |
| GPEIX Grade | C | F | F | B | D | A | B | B | F | F | D |
| +/- Category | -0.4% | -22.4% | -14.8% | 0.1% | -1.9% | 9.2% | 9.4% | 1.7% | -4.1% | -8.3% | -1.7% |
| Diversified Emerging Mkts Avg | 23.7% | 31.4% | 6.2% | 12.1% | -22.6% | -0.2% | 21.6% | 21.9% | -16.4% | 36.7% | 8.6% |
| Risk Measures | |
| Standard Deviation: | 17.0% |
| Total Risk Index: | 1.40 - High |
| Category Risk Index: | 1.04 - Above Average |
| Category Risk Grade: | D (73% Rank) |
| Beta: | 1.06 |
| R-Squared: | 69% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 1.6% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $32 Mil |
| Fund Total Assets: | $ 28 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 30% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 12.7 years | |||
| Average Tenure: 7.5 years | |||
| Managers (Year): Walker Blake (2013), Cai Liping (2018), Douglas Juliette (2025) | |||
Portfolio Composition (as of 4/30/26)
| # of Holdings: | 68 |
| % in Top 10 Holdings: | 34.8% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 96.6% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 96.6% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 3.4% |
Purchase Information
| Fund Family: | Grandeur Peak Funds |
| Phone Number: | 855-377-7325 |
| Website: |
| Status: | Open |
| Inception Date: | December 16, 2013 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 2.00% |
| 12b-1 Fee: | 0.00% |
Expenses and Fees | |
| Expense Ratio (%): | 1.55% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.15% |
| Share Class: | Grandeur Peak Emerg Mkts Opps Instl |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
