Fund Evaluator:

Grandeur Peak Global Contrarian Instl Overview

Grandeur Peak Global Contrarian Instl (GPGCX) is an actively managed International Equity Global Small/Mid Stock fund. Grandeur Peak Funds launched the fund in 2019.

The investment seeks long-term growth of capital. The fund invests primarily in foreign and domestic small- and micro-cap companies. It will invest a significant portion of its total assets (at least 40% under normal market conditions) at the time of purchase in securities issued by companies that are economically tied to multiple countries outside the United States. The fund may invest a significant amount of its total assets (up to 50% under normal market conditions) at the time of purchase in securities issued by companies that are economically tied to emerging and frontier markets.

About Grandeur Peak Global Contrarian Instl (GPGCX)

There are 4 members of the management team with an average tenure of 3.43 years: Blake Walker (2025), Spencer Hackett (2022), Dane Nielson (2025), Robert Gardiner (2019). 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 Small NR USD index with a weighting of 100%. Grandeur Peak Global Contrarian Instl has 102 securities in its portfolio. The top 10 holdings constitute 27.5% 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 Contrarian Instl is part of the Equity global asset class and is within the International Equity fund group. Grandeur Peak Global Contrarian Instl has 80.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 19.1%. There is 80.1% 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 Global Contrarian Instl has 0.7% of the portfolio in cash.

Assets Under Management

The fund has $149 million in total assets, which is below the $858 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.

GPGCX 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 Contrarian Instl expense ratio is high compared to funds in the Global Small/Mid Stock category. Grandeur Peak Global Contrarian Instl has an expense ratio of 1.19%, which is 5% lower than its category average, making the fund expense ratio grade a C. 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 Contrarian Instl has a portfolio turnover rate of 67%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 57% for the Global Small/Mid Stock category.

Recently, in the month of August 2026, Grandeur Peak Global Contrarian Instl returned 4.8%, which earned it a grade of A, as the Global Small/Mid Stock category had an average return of 1.9%. 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 Global Contrarian Instl has a trailing yield of 3.99%, which is above the 1.30% category average. The fund normally distributes its income 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 Contrarian Instl Grades

Year to date, the fund has returned 17.5%, 4.5 percentage points better than the category, which translates into a grade of A. The fund has returned 19.9% over the past year (grade of B), 20.6% over the past three years (grade of A) and 10.7% per year over the past five years (grade of A).

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