DRSVX vs. ADVGX

Last updated Aug 1, 2026

DRSVX (North Square Small Cap Value Fund) and ADVGX (North Square Advisory Research Small Cap Value Fund) are both mutual funds - DRSVX is a Small Cap Value Equities fund managed by North Square, while ADVGX is a Large Cap Value Equities fund managed by North Square. Over the past 10 years, DRSVX returned 9.56%/yr vs 12.39%/yr for ADVGX. Their correlation of 0.90 means they have usually moved in the same direction. DRSVX charges 1.28%/yr vs 0.95%/yr for ADVGX.

Performance

DRSVX vs. ADVGX - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with DRSVX having a 22.81% return and ADVGX slightly lower at 22.54%. Over the past 10 years, DRSVX has underperformed ADVGX with an annualized return of 9.56%, while ADVGX has yielded a comparatively higher 12.39% annualized return.

DRSVX

• 1D: 0.35%
• 1M: 0.78%
• 6M: 14.89%
• YTD: 22.81%
• 1Y: 36.84%
• 3Y*: 12.76%
• 5Y*: 10.57%
• 10Y*: 9.56%
• ALL TIME*: 9.92%

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%

*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
DRSVX North Square Small Cap Value Fund	$0.00	$0.00	$0.00

DRSVX vs. ADVGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DRSVX North Square Small Cap Value Fund	22.81%	7.88%	3.48%	16.49%	-3.94%	31.23%	-1.97%	22.52%	-16.58%	7.52%
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%

Correlation

The correlation between DRSVX and ADVGX is 0.82, 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.	0.82
Correlation (3Y) Balances recent behavior with more history.	0.89
Correlation (5Y) Shows whether the relationship held over a longer period.	0.91
Correlation (10Y) Provides a long-term view across more market conditions.	0.89
Correlation (All Time) Calculated using the full available price history since Nov 17, 2009	0.90

The correlation between DRSVX and ADVGX has been stable across timeframes, ranging from 0.82 to 0.91 - a consistent structural relationship.

Return for Risk

DRSVX vs. ADVGX — Risk / Return Rank

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

DRSVX

DRSVX Risk / Return Rank: 82
DRSVX Sharpe Ratio Rank: 82
DRSVX Sortino Ratio Rank: 82
DRSVX Omega Ratio Rank: 76
DRSVX Calmar Ratio Rank: 88
DRSVX Martin Ratio Rank: 80

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

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.

DRSVX vs. ADVGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for North Square Small Cap Value Fund (DRSVX) and North Square Advisory Research Small Cap Value Fund (ADVGX). 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.

	DRSVX	ADVGX	Difference
Sharpe ratio: Return per unit of total volatility	1.98	1.37	+0.62
Sortino ratio: Return per unit of downside risk	2.92	2.09	+0.83
Omega ratio: Gain probability vs. loss probability	1.35	1.24	+0.11
Calmar ratio: Return relative to maximum drawdown	3.29	1.77	+1.52
Martin ratio: Return relative to average drawdown	10.05	4.68	+5.37

DRSVX vs. ADVGX - Sharpe Ratio Comparison

The current DRSVX Sharpe Ratio is 1.98, which is higher than the ADVGX Sharpe Ratio of 1.37. The chart below compares the historical Sharpe Ratios of DRSVX and ADVGX, 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

DRSVX vs. ADVGX - Drawdown Comparison

The maximum DRSVX drawdown since its inception was -54.75%, which is greater than ADVGX's maximum drawdown of -41.34%. Use the drawdown chart below to compare losses from any high point for DRSVX and ADVGX.

Drawdown Indicators

	DRSVX	ADVGX	Difference
Max Drawdown Largest peak-to-trough decline	-54.75%	-41.34%	-13.41%
Max Drawdown (1Y) Largest decline over 1 year	-9.82%	-14.92%	+5.10%
Max Drawdown (3Y) Largest decline over 3 years	-25.81%	-27.69%	+1.88%
Max Drawdown (5Y) Largest decline over 5 years	-25.81%	-27.69%	+1.88%
Max Drawdown (10Y) Largest decline over 10 years	-47.46%	-41.34%	-6.12%
Current Drawdown Current decline from peak	-0.94%	-2.41%	+1.47%
Average Drawdown Average peak-to-trough decline	-7.85%	-5.53%	-2.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.22%	5.64%	-2.42%

Volatility

DRSVX vs. ADVGX - Volatility Comparison

The current volatility for North Square Small Cap Value Fund (DRSVX) is 3.27%, while North Square Advisory Research Small Cap Value Fund (ADVGX) has a volatility of 4.98%. This indicates that DRSVX experiences smaller price fluctuations and is considered to be less risky than ADVGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DRSVX	ADVGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.27%	4.98%	-1.71%
Volatility (6M) Calculated over the trailing 6-month period	10.87%	14.20%	-3.33%
Volatility (1Y) Calculated over the trailing 1-year period	16.36%	19.39%	-3.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.74%	21.57%	-0.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.23%	21.09%	+2.14%

DRSVX vs. ADVGX - Expense Ratio Comparison

DRSVX has a 1.28% expense ratio, which is higher than ADVGX's 0.95% expense ratio.

Dividends

DRSVX vs. ADVGX - Dividend Comparison

DRSVX's dividend yield for the trailing twelve months is around 0.79%, less than ADVGX's 4.64% 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%
DRSVX North Square Small Cap Value Fund	0.79%	0.97%	25.59%	11.12%	11.47%	15.14%	0.77%	3.45%	9.93%	3.39%	2.55%	13.22%

Frequently Asked Questions

Can I hold both DRSVX and ADVGX in my portfolio?

DRSVX and ADVGX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DRSVX or ADVGX?

ADVGX has higher volatility (4.98%) compared to DRSVX (3.27%). In terms of maximum drawdown, DRSVX dropped -54.75% vs ADVGX's -41.34%.

Which has better risk-adjusted returns?

DRSVX currently has the higher Sharpe Ratio (1.98 vs 1.37), 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.