Fund Evaluator:

Grandeur Peak Global Micro Cap Instl Overview

Grandeur Peak Global Micro Cap Instl (GPMCX) is an actively managed International Equity Foreign Small/Mid Growth 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 micro-cap companies. The Adviser will invest at least 80% of the fund's assets in equity securities of foreign and domestic companies with market capitalizations of less than $1 billion at the time of purchase. The fund will invest a significant portion of its 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 Micro Cap Instl (GPMCX)

There are 3 members of the management team with an average tenure of 5.62 years: Amy Sunderland (2015), Spencer Hackett (2021), 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 Small NR USD index with a weighting of 100%. Grandeur Peak Global Micro Cap Instl has 108 securities in its portfolio. The top 10 holdings constitute 23.9% 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 Micro Cap Instl is part of the Equity global asset class and is within the International Equity fund group. Grandeur Peak Global Micro Cap Instl has 84.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 15.2%. There is 84.2% 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 Micro Cap Instl has 0.7% of the portfolio in cash.

Assets Under Management

The fund has $47 million in total assets, which is below the $325 million average for the Foreign Small/Mid Growth 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.

GPMCX 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 Micro Cap Instl expense ratio is high compared to funds in the Foreign Small/Mid Growth category. Grandeur Peak Global Micro Cap Instl has an expense ratio of 2.00%, which is 63% 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 Global Micro Cap Instl has a portfolio turnover rate of 51%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 65% for the Foreign Small/Mid Growth category.

Recently, in the month of August 2026, Grandeur Peak Global Micro Cap Instl returned 6.5%, which earned it a grade of A, as the Foreign Small/Mid Growth category had an average return of 4.3%. 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 Micro Cap Instl has a trailing yield of 1.73%, which is above the 1.38% 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 Micro Cap Instl Grades

Year to date, the fund has returned 8.4%, 2.9 percentage points worse than the category, which translates into a grade of F. The fund has returned 7.5% over the past year (grade of D), 11.2% over the past three years (grade of C) and -1.6% per year over the past five years (grade of D) and 9.1% per year over the past 10 years (grade of A).

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