Fund Evaluator:
Grandeur Peak US Stalwarts Institutional (GUSYX)
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Best Performing in Mid-Cap Growth Over the Last Year
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Fund Details
Grandeur Peak US Stalwarts Institutional Overview
Grandeur Peak US Stalwarts Institutional (GUSYX) is an actively managed U.S. Equity Mid-Cap Growth fund. Grandeur Peak Funds launched the fund in 2020.
The investment seeks long-term growth of capital. Under normal market conditions, the Adviser will invest at least 80% of the fund's assets at the time of purchase in equity securities of companies that are economically tied to the United States. The Adviser will invest the fund’s assets primarily in equity securities with market capitalizations of more than $1.5 billion at the time of purchase.
About Grandeur Peak US Stalwarts Institutional (GUSYX)
There are 3 members of the management team with an average tenure of 5.27 years: Randy Pearce (2020), Brad Barth (2020), Phil Naylor (2023). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: MSCI USA IMI GR USD index with a weighting of 100% and MSCI USA Mid GR USD index with a weighting of 100%. Grandeur Peak US Stalwarts Institutional has 58 securities in its portfolio. The top 10 holdings constitute 38.4% 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 US Stalwarts Institutional is part of the Equity global asset class and is within the U.S. Equity fund group. Grandeur Peak US Stalwarts Institutional has 15.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 78.9%. There is 15.1% allocated to foreign stock, and 1.7% 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 US Stalwarts Institutional has 2.6% of the portfolio in cash.
Assets Under Management
The fund has $16 million in total assets, which is below the $658 million average for the Mid-Cap 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.
GUSYX 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 US Stalwarts Institutional expense ratio is high compared to funds in the Mid-Cap Growth category. Grandeur Peak US Stalwarts Institutional has an expense ratio of 0.90%, which is 18% 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 US Stalwarts Institutional has a portfolio turnover rate of 98%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 77% for the Mid-Cap Growth category.
Recently, in the month of July 2026, Grandeur Peak US Stalwarts Institutional returned -2.5%, which earned it a grade of A, as the Mid-Cap Growth category had an average return of -5.5%. 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 US Stalwarts Institutional has a trailing yield of 0.00%, which is below the 0.03% 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 US Stalwarts Institutional Grades
Year to date, the fund has returned 11.8%, 6.1 percentage points better than the category, which translates into a grade of A. The fund has returned 13.5% over the past year (grade of A), 8.5% over the past three years (grade of D) and -1.0% per year over the past five years (grade of F).
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GUSYX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| GUSYX Return (NAV) | -2.5% | -0.7% | 13.5% | 8.5% | -1.0% | na |
| GUSYX Grade | A | F | A | D | F | na |
| +/- Category | 3.0% | -2.8% | 8.0% | -2.0% | -3.4% | na |
| Mid-Cap Growth Avg | -5.5% | 2.1% | 5.5% | 10.5% | 2.5% | 10.9% |
| GUSYX Tax Cost Ratio | na | na | 0.0% | 0.0% | 0.1% | na |
GUSYX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| GUSYX Return (NAV) | 11.8% | 1.1% | 5.6% | 22.0% | -35.3% | 21.4% | na | na | na | na | na |
| GUSYX Grade | A | F | F | C | F | A | na | na | na | na | na |
| +/- Category | 6.1% | -5.0% | -11.7% | 1.2% | -7.2% | 9.1% | na | na | na | na | na |
| Mid-Cap Growth Avg | 5.7% | 6.1% | 17.3% | 20.8% | -28.1% | 12.3% | 40.4% | 33.9% | -4.6% | 25.3% | 5.3% |
| Risk Measures | |
| Standard Deviation: | 19.4% |
| Total Risk Index: | 1.58 - High |
| Category Risk Index: | 1.02 - Above Average |
| Category Risk Grade: | D (65% Rank) |
| Beta: | 1.21 |
| R-Squared: | 67% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Small-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 0.0% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | |
| Total Assets: | $16 Mil |
| Fund Total Assets: | $ 17 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 98% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 6.4 years | |||
| Average Tenure: 5.3 years | |||
| Managers (Year): Pearce Randy (2020), Barth Brad (2020), Naylor Phil (2023) | |||
Portfolio Composition (as of 4/30/26)
| # of Holdings: | 58 |
| % in Top 10 Holdings: | 38.4% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 15.1% |
Portfolio Allocation |
|
| Domestic Stock: | 78.9% |
| Foreign Stock: | 15.1% |
| Preferred Stock: | 1.7% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 1.8% |
| Cash: | 2.6% |
Purchase Information
| Fund Family: | Grandeur Peak Funds |
| Phone Number: | 855-377-7325 |
| Website: |
| Status: | Open |
| Inception Date: | March 19, 2020 |
| 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 (%): | 0.90% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.09% |
| Share Class: | Grandeur Peak US Stalwarts Institutional |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
