ADVGX vs. CFLGX

Last updated Aug 1, 2026

ADVGX (North Square Advisory Research Small Cap Value Fund) and CFLGX (ClearBridge Tactical Dividend Income Fund) are both Large Cap Value Equities funds. Over the past 10 years, ADVGX returned 12.39%/yr vs 9.26%/yr for CFLGX. Their correlation of 0.81 means they have usually moved in the same direction. ADVGX charges 0.95%/yr vs 1.44%/yr for CFLGX.

Performance

ADVGX vs. CFLGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in North Square Advisory Research Small Cap Value Fund (ADVGX) and ClearBridge Tactical Dividend Income Fund (CFLGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ADVGX achieves a 22.54% return, which is significantly higher than CFLGX's 9.74% return. Over the past 10 years, ADVGX has outperformed CFLGX with an annualized return of 12.39%, while CFLGX has yielded a comparatively lower 9.26% annualized return.

ADVGX

• 1D: -0.98%
• 1M: -0.37%
• 6M: 16.21%
• YTD: 22.54%
• 1Y: 29.59%
• 3Y*: 18.38%
• 5Y*: 11.48%
• 10Y*: 12.39%
• ALL TIME*: 11.52%

CFLGX

• 1D: 0.75%
• 1M: 0.68%
• 6M: 6.22%
• YTD: 9.74%
• 1Y: 14.85%
• 3Y*: 13.17%
• 5Y*: 9.34%
• 10Y*: 9.26%
• ALL TIME*: 7.43%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ADVGX North Square Advisory Research Small Cap Value Fund	$0.00	$0.00	$0.00
CFLGX ClearBridge Tactical Dividend Income Fund	$0.00	$0.00	$0.00

ADVGX vs. CFLGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ADVGX North Square Advisory Research Small Cap Value Fund	22.54%	7.13%	15.52%	20.90%	-12.98%	29.94%	-2.61%	27.64%	-3.27%	19.60%
CFLGX ClearBridge Tactical Dividend Income Fund	9.74%	4.21%	19.62%	19.36%	-10.34%	25.71%	0.32%	30.94%	-6.04%	6.69%

Correlation

The correlation between ADVGX and CFLGX is 0.58, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.58
Correlation (3Y) Balances recent behavior with more history.	0.71
Correlation (5Y) Shows whether the relationship held over a longer period.	0.79
Correlation (10Y) Provides a long-term view across more market conditions.	0.79
Correlation (All Time) Calculated using the full available price history since Nov 17, 2009	0.81

Over the past year, the correlation between ADVGX and CFLGX has dropped to 0.58 - well below their long-term average of 0.81, suggesting their price drivers have been diverging.

Return for Risk

ADVGX vs. CFLGX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ADVGX

ADVGX Risk / Return Rank: 46
ADVGX Sharpe Ratio Rank: 52
ADVGX Sortino Ratio Rank: 58
ADVGX Omega Ratio Rank: 45
ADVGX Calmar Ratio Rank: 45
ADVGX Martin Ratio Rank: 32

CFLGX

CFLGX Risk / Return Rank: 50
CFLGX Sharpe Ratio Rank: 46
CFLGX Sortino Ratio Rank: 46
CFLGX Omega Ratio Rank: 43
CFLGX Calmar Ratio Rank: 55
CFLGX Martin Ratio Rank: 58

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ADVGX vs. CFLGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for North Square Advisory Research Small Cap Value Fund (ADVGX) and ClearBridge Tactical Dividend Income Fund (CFLGX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	ADVGX	CFLGX	Difference
Sharpe ratio: Return per unit of total volatility	1.37	1.31	+0.05
Sortino ratio: Return per unit of downside risk	2.09	1.88	+0.21
Omega ratio: Gain probability vs. loss probability	1.24	1.23	0.00
Calmar ratio: Return relative to maximum drawdown	1.77	1.98	-0.21
Martin ratio: Return relative to average drawdown	4.68	7.73	-3.05

ADVGX vs. CFLGX - Sharpe Ratio Comparison

The current ADVGX Sharpe Ratio is 1.37, which is comparable to the CFLGX Sharpe Ratio of 1.31. The chart below compares the historical Sharpe Ratios of ADVGX and CFLGX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ADVGX vs. CFLGX - Drawdown Comparison

The maximum ADVGX drawdown since its inception was -41.34%, smaller than the maximum CFLGX drawdown of -61.49%. Use the drawdown chart below to compare losses from any high point for ADVGX and CFLGX.

Drawdown Indicators

	ADVGX	CFLGX	Difference
Max Drawdown Largest peak-to-trough decline	-41.34%	-61.49%	+20.15%
Max Drawdown (1Y) Largest decline over 1 year	-14.92%	-6.56%	-8.36%
Max Drawdown (3Y) Largest decline over 3 years	-27.69%	-17.46%	-10.23%
Max Drawdown (5Y) Largest decline over 5 years	-27.69%	-18.39%	-9.30%
Max Drawdown (10Y) Largest decline over 10 years	-41.34%	-42.07%	+0.73%
Current Drawdown Current decline from peak	-2.41%	-0.48%	-1.93%
Average Drawdown Average peak-to-trough decline	-5.53%	-15.42%	+9.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.64%	1.69%	+3.95%

Volatility

ADVGX vs. CFLGX - Volatility Comparison

North Square Advisory Research Small Cap Value Fund (ADVGX) has a higher volatility of 4.98% compared to ClearBridge Tactical Dividend Income Fund (CFLGX) at 2.35%. This indicates that ADVGX's price experiences larger fluctuations and is considered to be riskier than CFLGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ADVGX	CFLGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.98%	2.35%	+2.63%
Volatility (6M) Calculated over the trailing 6-month period	14.20%	7.30%	+6.90%
Volatility (1Y) Calculated over the trailing 1-year period	19.39%	9.91%	+9.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.57%	14.23%	+7.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.09%	16.43%	+4.66%

ADVGX vs. CFLGX - Expense Ratio Comparison

ADVGX has a 0.95% expense ratio, which is lower than CFLGX's 1.44% expense ratio.

Dividends

ADVGX vs. CFLGX - Dividend Comparison

ADVGX's dividend yield for the trailing twelve months is around 4.64%, more than CFLGX's 4.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ADVGX North Square Advisory Research Small Cap Value Fund	4.64%	5.68%	1.16%	0.85%	6.87%	7.52%	11.47%	11.43%	41.46%	9.66%	7.34%	19.79%
CFLGX ClearBridge Tactical Dividend Income Fund	4.05%	4.38%	3.14%	3.61%	4.15%	3.62%	4.47%	4.17%	5.20%	4.89%	5.15%	6.13%

Frequently Asked Questions

Can I hold both ADVGX and CFLGX in my portfolio?

ADVGX and CFLGX have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ADVGX or CFLGX?

ADVGX has higher volatility (4.98%) compared to CFLGX (2.35%). In terms of maximum drawdown, ADVGX dropped -41.34% vs CFLGX's -61.49%.

Which has better risk-adjusted returns?

ADVGX currently has the higher Sharpe Ratio (1.37 vs 1.31), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.