ETFOX vs. VXUS

Last updated Jun 3, 2026

ETFOX (North Square Tactical Growth Fund) and VXUS (Vanguard Total International Stock ETF) are both funds - ETFOX is a Tactical Allocation fund managed by Stadion Funds, while VXUS is a Global Equities fund tracking the FTSE Global All Cap ex US Index. Over the past 10 years, ETFOX returned 9.73%/yr vs 9.86%/yr for VXUS. Their correlation of 0.81 suggests significant overlap in exposure. ETFOX charges 1.30%/yr vs 0.05%/yr for VXUS.

Performance

ETFOX vs. VXUS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in North Square Tactical Growth Fund (ETFOX) and Vanguard Total International Stock ETF (VXUS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ETFOX achieves a 9.18% return, which is significantly lower than VXUS's 15.39% return. Both investments have delivered pretty close results over the past 10 years, with ETFOX having a 9.73% annualized return and VXUS not far ahead at 9.86%.

ETFOX

• 1D: 0.25%
• 1M: 4.39%
• YTD: 9.18%
• 6M: 9.39%
• 1Y: 22.23%
• 3Y*: 15.92%
• 5Y*: 8.53%
• 10Y*: 9.73%

VXUS

• 1D: 0.75%
• 1M: 4.81%
• YTD: 15.39%
• 6M: 18.56%
• 1Y: 32.67%
• 3Y*: 19.70%
• 5Y*: 8.88%
• 10Y*: 9.86%

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

ETFOX vs. VXUS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ETFOX North Square Tactical Growth Fund	9.18%	14.69%	15.45%	16.55%	-14.19%	12.43%	15.74%	15.00%	-4.12%	12.23%
VXUS Vanguard Total International Stock ETF	15.39%	32.35%	5.08%	15.86%	-16.08%	8.98%	10.66%	21.75%	-14.43%	27.46%

Correlation

The correlation between ETFOX and VXUS is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.80
Correlation (All Time) Calculated using the full available price history since Jan 31, 2011	0.81

The correlation between ETFOX and VXUS has been stable across timeframes, ranging from 0.80 to 0.86 - a consistent structural relationship.

Return for Risk

ETFOX vs. VXUS — Risk / Return Rank

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

ETFOX

ETFOX Risk / Return Rank: 57
ETFOX Sharpe Ratio Rank: 59
ETFOX Sortino Ratio Rank: 56
ETFOX Omega Ratio Rank: 54
ETFOX Calmar Ratio Rank: 54
ETFOX Martin Ratio Rank: 60

VXUS

VXUS Risk / Return Rank: 63
VXUS Sharpe Ratio Rank: 64
VXUS Sortino Ratio Rank: 63
VXUS Omega Ratio Rank: 65
VXUS Calmar Ratio Rank: 60
VXUS Martin Ratio Rank: 65

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. VXUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for North Square Tactical Growth Fund (ETFOX) and Vanguard Total International Stock ETF (VXUS). 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	VXUS	Difference
Sharpe ratio Return per unit of total volatility	2.28	2.16	+0.12
Sortino ratio Return per unit of downside risk	3.16	2.96	+0.20
Omega ratio Gain probability vs. loss probability	1.41	1.40	+0.01
Calmar ratio Return relative to maximum drawdown	2.83	3.02	-0.19
Martin ratio Return relative to average drawdown	11.97	11.82	+0.15
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. VXUS - Sharpe Ratio Comparison

The current ETFOX Sharpe Ratio is 2.28, which is comparable to the VXUS Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of ETFOX and VXUS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ETFOX	VXUS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.28	2.16	+0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	0.56	+0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.79	0.58	+0.21
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.39	+0.13

Drawdowns

ETFOX vs. VXUS - Drawdown Comparison

The maximum ETFOX drawdown since its inception was -41.32%, which is greater than VXUS's maximum drawdown of -35.97%. Use the drawdown chart below to compare losses from any high point for ETFOX and VXUS.

Drawdown Indicators

	ETFOX	VXUS	Difference
Max Drawdown Largest peak-to-trough decline	-41.32%	-35.97%	-5.35%
Max Drawdown (1Y) Largest decline over 1 year	-8.15%	-11.27%	+3.12%
Max Drawdown (3Y) Largest decline over 3 years	-14.63%	-13.58%	-1.05%
Max Drawdown (5Y) Largest decline over 5 years	-17.86%	-29.44%	+11.58%
Max Drawdown (10Y) Largest decline over 10 years	-18.47%	-35.97%	+17.50%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.43%	-8.22%	+2.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.93%	2.88%	-0.95%

Volatility

ETFOX vs. VXUS - Volatility Comparison

The current volatility for North Square Tactical Growth Fund (ETFOX) is 2.47%, while Vanguard Total International Stock ETF (VXUS) has a volatility of 5.57%. This indicates that ETFOX experiences smaller price fluctuations and is considered to be less risky than VXUS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ETFOX	VXUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.47%	5.57%	-3.10%
Volatility (6M) Calculated over the trailing 6-month period	7.65%	12.97%	-5.32%
Volatility (1Y) Calculated over the trailing 1-year period	10.14%	15.19%	-5.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.42%	16.04%	-3.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.40%	17.16%	-4.76%

ETFOX vs. VXUS - Expense Ratio Comparison

ETFOX has a 1.30% expense ratio, which is higher than VXUS's 0.05% expense ratio.

Dividends

ETFOX vs. VXUS - Dividend Comparison

ETFOX's dividend yield for the trailing twelve months is around 1.19%, less than VXUS's 2.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ETFOX North Square Tactical Growth Fund	1.19%	1.29%	2.36%	0.98%	7.75%	4.75%	0.02%	4.81%	2.65%	0.00%	0.20%	0.64%
VXUS Vanguard Total International Stock ETF	2.63%	3.18%	3.37%	3.24%	3.09%	3.10%	2.14%	3.06%	3.18%	2.73%	2.93%	2.83%

Frequently Asked Questions

Can I hold both ETFOX and VXUS in my portfolio?

ETFOX and VXUS have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ETFOX or VXUS?

VXUS has higher volatility (5.57%) compared to ETFOX (2.47%). In terms of maximum drawdown, ETFOX dropped -41.32% vs VXUS's -35.97%.

Which has better risk-adjusted returns?

ETFOX currently has the higher Sharpe Ratio (2.28 vs 2.16), 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.