Fund Evaluator:
ALPS Global Opportunity I (LPEIX)
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Best Performing in Global Small/Mid Stock Over the Last Year
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Fund Details
ALPS Global Opportunity I Overview
ALPS Global Opportunity I (LPEIX) is an actively managed International Equity Global Small/Mid Stock fund. ALPS launched the fund in 2007.
The investment seeks to maximize total return, which consists of appreciation on its investments and a variable income stream. The fund will invest at least 80% of its net assets in (i) securities of U.S. and non-U.S. companies, including those in emerging markets, listed on a national securities exchange, or foreign equivalent, that have a majority of their assets invested in or exposed to private companies or have as their stated intention to have a majority of their assets invested in or exposed to private companies and (ii) derivatives that otherwise have the economic characteristics of Listed Private Equity Companies.
About ALPS Global Opportunity I (LPEIX)
There are 1 members of the management team with an average tenure of 9.34 years: Andrew Drummond (2017). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Morningstar DM NR USD index with a weighting of 100% and Red Rocks Gbl Listed Private Eqty TR USD index with a weighting of 100%. ALPS Global Opportunity I has 54 securities in its portfolio. The top 10 holdings constitute 39.3% 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.
ALPS Global Opportunity I is part of the Equity global asset class and is within the International Equity fund group. ALPS Global Opportunity I has 32.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 53.0%. There is 32.6% 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). ALPS Global Opportunity I has 2.9% of the portfolio in cash.
Assets Under Management
The fund has $26 million in total assets, which is below the $892 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.
LPEIX 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 ALPS Global Opportunity I expense ratio is high compared to funds in the Global Small/Mid Stock category. ALPS Global Opportunity I has an expense ratio of 1.62%, which is 29% 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. ALPS Global Opportunity I has a portfolio turnover rate of 31%, 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 July 2026, ALPS Global Opportunity I returned 4.7%, which earned it a grade of A, as the Global Small/Mid Stock category had an average return of -2.0%. 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.
ALPS Global Opportunity I has a trailing yield of 5.22%, which is above 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.
ALPS Global Opportunity I Grades
Year to date, the fund has returned -4.5%, 15.4 percentage points worse than the category, which translates into a grade of F. The fund has returned -6.1% over the past year (grade of F), 8.3% over the past three years (grade of D) and 2.1% per year over the past five years (grade of C) and 9.1% per year over the past 10 years (grade of C).
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LPEIX 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 |
|
| LPEIX Return (NAV) | 4.7% | 4.9% | -6.1% | 8.3% | 2.1% | 9.1% |
| LPEIX Grade | A | B | F | D | C | C |
| +/- Category | 6.7% | 3.2% | -22.9% | -1.1% | -0.9% | 0.8% |
| Global Small/Mid Stock Avg | -2.0% | 1.7% | 16.8% | 9.4% | 2.9% | 8.3% |
| LPEIX Tax Cost Ratio | na | na | 3.9% | 3.6% | 3.7% | 3.1% |
LPEIX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| LPEIX Return (NAV) | -4.5% | 1.6% | 18.1% | 28.8% | -28.7% | 24.3% | 9.6% | 40.3% | -12.4% | 27.5% | 7.4% |
| LPEIX Grade | F | F | A | A | D | A | D | A | C | B | C |
| +/- Category | -15.4% | -12.6% | 15.2% | 12.3% | -6.4% | 8.2% | -17.9% | 12.7% | 1.6% | 1.5% | -0.4% |
| Global Small/Mid Stock Avg | 10.9% | 14.2% | 2.9% | 16.5% | -22.3% | 16.1% | 27.5% | 27.6% | -14.0% | 26.0% | 7.9% |
| Risk Measures | |
| Standard Deviation: | 15.3% |
| Total Risk Index: | 1.25 - Above Average |
| Category Risk Index: | 0.91 - Below Average |
| Category Risk Grade: | B (33% Rank) |
| Beta: | 0.89 |
| R-Squared: | 54% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 5.2% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $43 Mil |
| Fund Total Assets: | $ 27 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 31% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 9.3 years | |||
| Average Tenure: 9.3 years | |||
| Managers (Year): Drummond Andrew (2017) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 54 |
| % in Top 10 Holdings: | 39.3% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 32.6% |
Portfolio Allocation |
|
| Domestic Stock: | 53.0% |
| Foreign Stock: | 32.6% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 11.5% |
| Cash: | 2.9% |
Purchase Information
| Fund Family: | ALPS |
| Phone Number: | 866-759-5679 |
| Website: |
| Status: | Open |
| Inception Date: | December 31, 2007 |
| Min. Initial Purchase: | $100,000 |
| Min. Initial IRA Purchase: | $ 500 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.00% |
Expenses and Fees | |
| Expense Ratio (%): | 1.62% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.26% |
| Share Class: | ALPS Global Opportunity I |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
