ADVNX vs. ORSIX

Last updated Jun 23, 2026

ADVNX (North Square Strategic Income Fund) and ORSIX (North Square Dynamic Small Cap Fund) are both mutual funds - ADVNX is a Multisector Bonds fund managed by North Square, while ORSIX is a Small Cap Blend Equities fund managed by North Square. Over the past 10 years, ADVNX returned 4.86%/yr vs 14.60%/yr for ORSIX. At a 0.30 correlation, their price movements are largely independent. ADVNX charges 0.90%/yr vs 1.36%/yr for ORSIX.

Performance

ADVNX vs. ORSIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in North Square Strategic Income Fund (ADVNX) and North Square Dynamic Small Cap Fund (ORSIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ADVNX achieves a 1.55% return, which is significantly lower than ORSIX's 20.49% return. Over the past 10 years, ADVNX has underperformed ORSIX with an annualized return of 4.86%, while ORSIX has yielded a comparatively higher 14.60% annualized return.

ADVNX

• 1D: 0.00%
• 1M: 0.34%
• YTD: 1.55%
• 6M: 1.38%
• 1Y: 6.78%
• 3Y*: 9.15%
• 5Y*: 4.15%
• 10Y*: 4.86%

ORSIX

• 1D: 1.72%
• 1M: 3.12%
• YTD: 20.49%
• 6M: 17.66%
• 1Y: 42.94%
• 3Y*: 21.13%
• 5Y*: 11.87%
• 10Y*: 14.60%

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

ADVNX vs. ORSIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ADVNX North Square Strategic Income Fund	1.55%	11.20%	9.71%	5.07%	-8.43%	5.32%	11.67%	11.04%	-1.98%	6.07%
ORSIX North Square Dynamic Small Cap Fund	20.49%	10.44%	14.94%	29.16%	-18.46%	24.36%	19.34%	27.72%	-9.57%	15.63%

Correlation

The correlation between ADVNX and ORSIX is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.30
Correlation (10Y) Calculated over the trailing 10-year period	0.29
Correlation (All Time) Calculated using the full available price history since Oct 2, 2015	0.30

Return for Risk

ADVNX vs. ORSIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ADVNX

ADVNX Risk / Return Rank: 48
ADVNX Sharpe Ratio Rank: 48
ADVNX Sortino Ratio Rank: 53
ADVNX Omega Ratio Rank: 50
ADVNX Calmar Ratio Rank: 54
ADVNX Martin Ratio Rank: 36

ORSIX

ORSIX Risk / Return Rank: 75
ORSIX Sharpe Ratio Rank: 72
ORSIX Sortino Ratio Rank: 67
ORSIX Omega Ratio Rank: 55
ORSIX Calmar Ratio Rank: 93
ORSIX Martin Ratio Rank: 89

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ADVNX vs. ORSIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for North Square Strategic Income Fund (ADVNX) and North Square Dynamic Small Cap Fund (ORSIX). 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.

	ADVNX	ORSIX	Difference
Sharpe ratio: Return per unit of total volatility	1.88	2.26	-0.38
Sortino ratio: Return per unit of downside risk	2.82	3.11	-0.29
Omega ratio: Gain probability vs. loss probability	1.36	1.38	-0.02
Calmar ratio: Return relative to maximum drawdown	2.69	4.77	-2.08
Martin ratio: Return relative to average drawdown	7.49	16.18	-8.69

ADVNX vs. ORSIX - Sharpe Ratio Comparison

The current ADVNX Sharpe Ratio is 1.88, which is comparable to the ORSIX Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of ADVNX and ORSIX, 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

ADVNX vs. ORSIX - Drawdown Comparison

The maximum ADVNX drawdown since its inception was -11.86%, smaller than the maximum ORSIX drawdown of -42.58%. Use the drawdown chart below to compare losses from any high point for ADVNX and ORSIX.

Drawdown Indicators

	ADVNX	ORSIX	Difference
Max Drawdown Largest peak-to-trough decline	-11.86%	-42.58%	+30.72%
Max Drawdown (1Y) Largest decline over 1 year	-2.57%	-9.00%	+6.43%
Max Drawdown (3Y) Largest decline over 3 years	-5.22%	-26.57%	+21.35%
Max Drawdown (5Y) Largest decline over 5 years	-11.86%	-31.32%	+19.46%
Max Drawdown (10Y) Largest decline over 10 years	-11.86%	-42.58%	+30.72%
Current Drawdown Current decline from peak	-1.20%	0.00%	-1.20%
Average Drawdown Average peak-to-trough decline	-1.91%	-8.23%	+6.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.92%	2.65%	-1.73%

Volatility

ADVNX vs. ORSIX - Volatility Comparison

The current volatility for North Square Strategic Income Fund (ADVNX) is 0.78%, while North Square Dynamic Small Cap Fund (ORSIX) has a volatility of 6.13%. This indicates that ADVNX experiences smaller price fluctuations and is considered to be less risky than ORSIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ADVNX	ORSIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.78%	6.13%	-5.35%
Volatility (6M) Calculated over the trailing 6-month period	2.55%	14.06%	-11.51%
Volatility (1Y) Calculated over the trailing 1-year period	3.68%	18.97%	-15.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.24%	22.59%	-18.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.76%	23.40%	-19.64%

ADVNX vs. ORSIX - Expense Ratio Comparison

ADVNX has a 0.90% expense ratio, which is lower than ORSIX's 1.36% expense ratio.

Dividends

ADVNX vs. ORSIX - Dividend Comparison

ADVNX's dividend yield for the trailing twelve months is around 4.84%, more than ORSIX's 2.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ADVNX North Square Strategic Income Fund	4.84%	4.73%	4.02%	4.38%	2.80%	5.23%	6.80%	3.33%	3.92%	4.09%	4.19%	6.30%
ORSIX North Square Dynamic Small Cap Fund	2.34%	2.82%	5.56%	0.16%	0.21%	46.91%	1.85%	0.26%	21.64%	0.31%	0.29%	0.37%

Frequently Asked Questions

Can I hold both ADVNX and ORSIX in my portfolio?

ADVNX and ORSIX have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ADVNX or ORSIX?

ORSIX has higher volatility (6.13%) compared to ADVNX (0.78%). In terms of maximum drawdown, ADVNX dropped -11.86% vs ORSIX's -42.58%.

Which has better risk-adjusted returns?

ORSIX currently has the higher Sharpe Ratio (2.26 vs 1.88), 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.