ASCGX vs. ORIGX

Last updated Aug 1, 2026

ASCGX (Lisanti Small Cap Growth Fund) and ORIGX (North Square Spectrum Alpha Fund) are both Small Cap Growth Equities funds. Over the past 10 years, ASCGX returned 12.13%/yr vs 9.92%/yr for ORIGX. Their correlation of 0.92 means they have usually moved in the same direction. ASCGX charges 1.35%/yr vs 1.60%/yr for ORIGX.

Performance

ASCGX vs. ORIGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Lisanti Small Cap Growth Fund (ASCGX) and North Square Spectrum Alpha Fund (ORIGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ASCGX achieves a 19.01% return, which is significantly lower than ORIGX's 21.51% return. Over the past 10 years, ASCGX has outperformed ORIGX with an annualized return of 12.13%, while ORIGX has yielded a comparatively lower 9.92% annualized return.

ASCGX

• 1D: 2.07%
• 1M: -6.70%
• 6M: 16.56%
• YTD: 19.01%
• 1Y: 33.58%
• 3Y*: 16.85%
• 5Y*: 2.44%
• 10Y*: 12.13%
• ALL TIME*: 8.97%

ORIGX

• 1D: 0.83%
• 1M: -0.91%
• 6M: 15.87%
• YTD: 21.51%
• 1Y: 36.47%
• 3Y*: 17.81%
• 5Y*: 7.02%
• 10Y*: 9.92%
• ALL TIME*: 9.43%

*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)
ASCGX Lisanti Small Cap Growth Fund	$0.00	$0.00	$0.00
ORIGX North Square Spectrum Alpha Fund	$0.00	$0.00	$0.00

ASCGX vs. ORIGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ASCGX Lisanti Small Cap Growth Fund	19.01%	9.80%	27.71%	4.36%	-37.35%	10.35%	52.78%	25.62%	-1.96%	28.28%
ORIGX North Square Spectrum Alpha Fund	21.51%	9.45%	15.06%	24.70%	-27.57%	10.38%	29.92%	22.34%	-7.09%	18.20%

Correlation

The correlation between ASCGX and ORIGX is 0.85, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.85
Correlation (3Y) Balances recent behavior with more history.	0.86
Correlation (5Y) Shows whether the relationship held over a longer period.	0.90
Correlation (10Y) Provides a long-term view across more market conditions.	0.90
Correlation (All Time) Calculated using the full available price history since Mar 1, 2004	0.92

The correlation between ASCGX and ORIGX has been stable across timeframes, ranging from 0.85 to 0.92 - a consistent structural relationship.

Return for Risk

ASCGX vs. ORIGX — Risk / Return Rank

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

ASCGX

ASCGX Risk / Return Rank: 43
ASCGX Sharpe Ratio Rank: 33
ASCGX Sortino Ratio Rank: 32
ASCGX Omega Ratio Rank: 31
ASCGX Calmar Ratio Rank: 67
ASCGX Martin Ratio Rank: 51

ORIGX

ORIGX Risk / Return Rank: 80
ORIGX Sharpe Ratio Rank: 77
ORIGX Sortino Ratio Rank: 77
ORIGX Omega Ratio Rank: 72
ORIGX Calmar Ratio Rank: 91
ORIGX Martin Ratio Rank: 85

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.

ASCGX vs. ORIGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lisanti Small Cap Growth Fund (ASCGX) and North Square Spectrum Alpha Fund (ORIGX). 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.

	ASCGX	ORIGX	Difference
Sharpe ratio: Return per unit of total volatility	1.12	1.83	-0.70
Sortino ratio: Return per unit of downside risk	1.61	2.66	-1.04
Omega ratio: Gain probability vs. loss probability	1.20	1.32	-0.12
Calmar ratio: Return relative to maximum drawdown	2.29	3.46	-1.16
Martin ratio: Return relative to average drawdown	7.26	10.72	-3.47

ASCGX vs. ORIGX - Sharpe Ratio Comparison

The current ASCGX Sharpe Ratio is 1.12, which is lower than the ORIGX Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of ASCGX and ORIGX, 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

ASCGX vs. ORIGX - Drawdown Comparison

The maximum ASCGX drawdown since its inception was -59.31%, which is greater than ORIGX's maximum drawdown of -49.06%. Use the drawdown chart below to compare losses from any high point for ASCGX and ORIGX.

Drawdown Indicators

	ASCGX	ORIGX	Difference
Max Drawdown Largest peak-to-trough decline	-59.31%	-49.06%	-10.25%
Max Drawdown (1Y) Largest decline over 1 year	-13.24%	-9.55%	-3.69%
Max Drawdown (3Y) Largest decline over 3 years	-32.25%	-26.25%	-6.00%
Max Drawdown (5Y) Largest decline over 5 years	-50.73%	-38.60%	-12.13%
Max Drawdown (10Y) Largest decline over 10 years	-50.73%	-39.38%	-11.35%
Current Drawdown Current decline from peak	-10.39%	-2.24%	-8.15%
Average Drawdown Average peak-to-trough decline	-15.82%	-10.76%	-5.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.17%	3.07%	+1.10%

Volatility

ASCGX vs. ORIGX - Volatility Comparison

Lisanti Small Cap Growth Fund (ASCGX) has a higher volatility of 6.97% compared to North Square Spectrum Alpha Fund (ORIGX) at 3.87%. This indicates that ASCGX's price experiences larger fluctuations and is considered to be riskier than ORIGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ASCGX	ORIGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.97%	3.87%	+3.10%
Volatility (6M) Calculated over the trailing 6-month period	20.95%	13.06%	+7.89%
Volatility (1Y) Calculated over the trailing 1-year period	26.98%	18.06%	+8.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.36%	21.85%	+4.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.73%	21.52%	+4.21%

ASCGX vs. ORIGX - Expense Ratio Comparison

ASCGX has a 1.35% expense ratio, which is lower than ORIGX's 1.60% expense ratio.

Dividends

ASCGX vs. ORIGX - Dividend Comparison

ASCGX has not paid dividends to shareholders, while ORIGX's dividend yield for the trailing twelve months is around 0.48%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASCGX Lisanti Small Cap Growth Fund	0.00%	1.14%	0.00%	0.00%	2.72%	30.62%	7.05%	2.20%	4.36%	26.72%	1.67%	5.31%
ORIGX North Square Spectrum Alpha Fund	0.48%	0.00%	0.00%	0.00%	78.80%	15.09%	12.73%	16.48%	20.15%	146.42%	6.54%	6.73%

Frequently Asked Questions

Can I hold both ASCGX and ORIGX in my portfolio?

ASCGX and ORIGX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ASCGX or ORIGX?

ASCGX has higher volatility (6.97%) compared to ORIGX (3.87%). In terms of maximum drawdown, ASCGX dropped -59.31% vs ORIGX's -49.06%.

Which has better risk-adjusted returns?

ORIGX currently has the higher Sharpe Ratio (1.83 vs 1.12), 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.