Yes. The GIA Diamond Cut Grading System, introduced in 2005 after years of extensive research, assigns one of five grades to describe the overall cut quality of a standard round brilliant diamond in the GIA D-to-Z color range. Fancy shape diamonds (Cushion, Princess, Oval, Radiant, Emerald, Heart, Marquise, Asscher, Pear) however, are not graded for Cut as yet by GIA.