ETFOX vs. HFSAX

Last updated Apr 2, 2026

Compare and contrast key facts about North Square Tactical Growth Fund (ETFOX) and Hundredfold Select Alternative Fund Investor Class (HFSAX).

ETFOX is managed by Stadion Funds. It was launched on Apr 29, 2004. HFSAX is managed by Advisors Preferred.

Performance

ETFOX vs. HFSAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in North Square Tactical Growth Fund (ETFOX) and Hundredfold Select Alternative Fund Investor Class (HFSAX). The values are adjusted to include any dividend payments, if applicable.

ETFOX vs. HFSAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ETFOX North Square Tactical Growth Fund	-3.21%	14.69%	15.45%	16.55%	-14.19%	12.43%	15.74%	15.00%	-4.12%	12.23%
HFSAX Hundredfold Select Alternative Fund Investor Class	-0.83%	11.97%	3.75%	10.93%	-9.44%	9.05%	38.71%	10.35%	-1.97%	9.91%

Returns By Period

In the year-to-date period, ETFOX achieves a -3.21% return, which is significantly lower than HFSAX's -0.83% return. Both investments have delivered pretty close results over the past 10 years, with ETFOX having a 8.57% annualized return and HFSAX not far behind at 8.41%.

ETFOX

• 1D: 2.16%
• 1M: -4.58%
• YTD: -3.21%
• 6M: -2.49%
• 1Y: 13.64%
• 3Y*: 12.48%
• 5Y*: 6.73%
• 10Y*: 8.57%

HFSAX

• 1D: 0.08%
• 1M: -2.57%
• YTD: -0.83%
• 6M: 2.12%
• 1Y: 10.29%
• 3Y*: 8.45%
• 5Y*: 3.86%
• 10Y*: 8.41%

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

ETFOX vs. HFSAX - Expense Ratio Comparison

ETFOX has a 1.30% expense ratio, which is lower than HFSAX's 1.75% expense ratio.

HFSAX

Hundredfold Select Alternative Fund Investor Class

ETFOX

North Square Tactical Growth Fund

Return for Risk

ETFOX vs. HFSAX — Risk / Return Rank

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

ETFOX

ETFOX Risk / Return Rank: 54
ETFOX Sharpe Ratio Rank: 47
ETFOX Sortino Ratio Rank: 50
ETFOX Omega Ratio Rank: 48
ETFOX Calmar Ratio Rank: 62
ETFOX Martin Ratio Rank: 65

HFSAX

HFSAX Risk / Return Rank: 93
HFSAX Sharpe Ratio Rank: 96
HFSAX Sortino Ratio Rank: 95
HFSAX Omega Ratio Rank: 93
HFSAX Calmar Ratio Rank: 92
HFSAX Martin Ratio Rank: 88

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.

ETFOX vs. HFSAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for North Square Tactical Growth Fund (ETFOX) and Hundredfold Select Alternative Fund Investor Class (HFSAX). 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.

	ETFOX	HFSAX	Difference
Sharpe ratio Return per unit of total volatility	0.99	2.37	-1.38
Sortino ratio Return per unit of downside risk	1.48	3.18	-1.70
Omega ratio Gain probability vs. loss probability	1.21	1.48	-0.26
Calmar ratio Return relative to maximum drawdown	1.55	2.78	-1.23
Martin ratio Return relative to average drawdown	6.53	9.69	-3.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ETFOX vs. HFSAX - Sharpe Ratio Comparison

The current ETFOX Sharpe Ratio is 0.99, which is lower than the HFSAX Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of ETFOX and HFSAX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ETFOX	HFSAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.99	2.37	-1.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	0.62	-0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	1.35	-0.66
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	1.30	-0.82

Correlation

The correlation between ETFOX and HFSAX is 0.70, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

ETFOX vs. HFSAX - Dividend Comparison

ETFOX's dividend yield for the trailing twelve months is around 1.34%, less than HFSAX's 9.83% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ETFOX North Square Tactical Growth Fund	1.34%	1.29%	2.36%	0.98%	7.75%	4.75%	0.02%	4.81%	2.65%	0.00%	0.20%	0.64%
HFSAX Hundredfold Select Alternative Fund Investor Class	9.83%	9.75%	5.87%	5.17%	4.92%	10.98%	13.58%	6.44%	3.11%	11.06%	5.60%	1.85%

Drawdowns

ETFOX vs. HFSAX - Drawdown Comparison

The maximum ETFOX drawdown since its inception was -41.32%, which is greater than HFSAX's maximum drawdown of -12.81%. Use the drawdown chart below to compare losses from any high point for ETFOX and HFSAX.

Drawdown Indicators

	ETFOX	HFSAX	Difference
Max Drawdown Largest peak-to-trough decline	-41.32%	-12.81%	-28.51%
Max Drawdown (1Y) Largest decline over 1 year	-9.13%	-3.68%	-5.45%
Max Drawdown (5Y) Largest decline over 5 years	-17.86%	-12.81%	-5.05%
Max Drawdown (10Y) Largest decline over 10 years	-18.47%	-12.81%	-5.66%
Current Drawdown Current decline from peak	-6.17%	-3.60%	-2.57%
Average Drawdown Average peak-to-trough decline	-5.47%	-2.39%	-3.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.17%	1.06%	+1.11%

Volatility

ETFOX vs. HFSAX - Volatility Comparison

North Square Tactical Growth Fund (ETFOX) has a higher volatility of 4.54% compared to Hundredfold Select Alternative Fund Investor Class (HFSAX) at 1.72%. This indicates that ETFOX's price experiences larger fluctuations and is considered to be riskier than HFSAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ETFOX	HFSAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.54%	1.72%	+2.82%
Volatility (6M) Calculated over the trailing 6-month period	8.14%	3.68%	+4.46%
Volatility (1Y) Calculated over the trailing 1-year period	14.07%	4.41%	+9.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.46%	6.31%	+6.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.38%	6.25%	+6.13%