FEIFX vs. ADVGX

Last updated Jul 2, 2026

FEIFX (Franklin Equity Income Fund) and ADVGX (North Square Advisory Research Small Cap Value Fund) are both Large Cap Value Equities funds. Over the past 10 years, FEIFX returned 13.52%/yr vs 12.94%/yr for ADVGX. Their correlation of 0.88 suggests significant overlap in exposure. FEIFX charges 0.58%/yr vs 0.95%/yr for ADVGX.

Performance

FEIFX vs. ADVGX - Performance Comparison

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

Returns By Period

In the year-to-date period, FEIFX achieves a 9.38% return, which is significantly lower than ADVGX's 25.49% return. Both investments have delivered pretty close results over the past 10 years, with FEIFX having a 13.52% annualized return and ADVGX not far behind at 12.94%.

FEIFX

• 1D: 0.00%
• 1M: 0.88%
• YTD: 9.38%
• 6M: 9.38%
• 1Y: 19.76%
• 3Y*: 16.53%
• 5Y*: 13.72%
• 10Y*: 13.52%

ADVGX

• 1D: 1.78%
• 1M: 12.40%
• YTD: 25.49%
• 6M: 25.49%
• 1Y: 33.62%
• 3Y*: 21.40%
• 5Y*: 12.30%
• 10Y*: 12.94%

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

FEIFX vs. ADVGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FEIFX Franklin Equity Income Fund	9.38%	16.58%	18.44%	9.30%	-6.64%	41.33%	5.79%	29.55%	-4.55%	16.29%
ADVGX North Square Advisory Research Small Cap Value Fund	25.49%	7.13%	15.52%	20.90%	-12.98%	29.94%	-2.61%	27.64%	-3.27%	19.60%

Correlation

The correlation between FEIFX and ADVGX is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Nov 17, 2009	0.88

The correlation between FEIFX and ADVGX shifts across timeframes, from 0.69 (1 year) to 0.88 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FEIFX vs. ADVGX — Risk / Return Rank

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

FEIFX

FEIFX Risk / Return Rank: 79
FEIFX Sharpe Ratio Rank: 77
FEIFX Sortino Ratio Rank: 78
FEIFX Omega Ratio Rank: 73
FEIFX Calmar Ratio Rank: 83
FEIFX Martin Ratio Rank: 84

ADVGX

ADVGX Risk / Return Rank: 55
ADVGX Sharpe Ratio Rank: 64
ADVGX Sortino Ratio Rank: 68
ADVGX Omega Ratio Rank: 52
ADVGX Calmar Ratio Rank: 57
ADVGX Martin Ratio Rank: 35

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.

FEIFX vs. ADVGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Equity Income Fund (FEIFX) 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.

	FEIFX	ADVGX	Difference
Sharpe ratio: Return per unit of total volatility	2.13	1.87	+0.26
Sortino ratio: Return per unit of downside risk	3.04	2.73	+0.30
Omega ratio: Gain probability vs. loss probability	1.38	1.32	+0.06
Calmar ratio: Return relative to maximum drawdown	3.27	2.45	+0.82
Martin ratio: Return relative to average drawdown	12.81	6.51	+6.29

FEIFX vs. ADVGX - Sharpe Ratio Comparison

The current FEIFX Sharpe Ratio is 2.13, which is comparable to the ADVGX Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of FEIFX 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

FEIFX vs. ADVGX - Drawdown Comparison

The maximum FEIFX drawdown since its inception was -35.39%, smaller than the maximum ADVGX drawdown of -41.34%. Use the drawdown chart below to compare losses from any high point for FEIFX and ADVGX.

Drawdown Indicators

	FEIFX	ADVGX	Difference
Max Drawdown Largest peak-to-trough decline	-35.39%	-41.34%	+5.95%
Max Drawdown (1Y) Largest decline over 1 year	-6.39%	-14.92%	+8.53%
Max Drawdown (3Y) Largest decline over 3 years	-16.69%	-27.69%	+11.00%
Max Drawdown (5Y) Largest decline over 5 years	-18.53%	-27.69%	+9.16%
Max Drawdown (10Y) Largest decline over 10 years	-35.39%	-41.34%	+5.95%
Current Drawdown Current decline from peak	-1.32%	0.00%	-1.32%
Average Drawdown Average peak-to-trough decline	-3.50%	-5.55%	+2.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.63%	5.59%	-3.96%

Volatility

FEIFX vs. ADVGX - Volatility Comparison

The current volatility for Franklin Equity Income Fund (FEIFX) is 2.82%, while North Square Advisory Research Small Cap Value Fund (ADVGX) has a volatility of 5.29%. This indicates that FEIFX 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

	FEIFX	ADVGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.82%	5.29%	-2.47%
Volatility (6M) Calculated over the trailing 6-month period	7.64%	14.37%	-6.73%
Volatility (1Y) Calculated over the trailing 1-year period	9.83%	19.49%	-9.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.78%	21.55%	-5.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.05%	21.06%	-4.01%

FEIFX vs. ADVGX - Expense Ratio Comparison

FEIFX has a 0.58% expense ratio, which is lower than ADVGX's 0.95% expense ratio.

Dividends

FEIFX vs. ADVGX - Dividend Comparison

FEIFX's dividend yield for the trailing twelve months is around 9.29%, more than ADVGX's 4.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ADVGX North Square Advisory Research Small Cap Value Fund	4.53%	5.68%	1.16%	0.85%	6.87%	7.52%	11.47%	11.43%	41.46%	9.66%	7.34%	19.79%
FEIFX Franklin Equity Income Fund	9.29%	9.72%	10.73%	4.45%	5.84%	18.19%	3.28%	8.06%	7.27%	5.04%	6.70%	5.63%

Frequently Asked Questions

Can I hold both FEIFX and ADVGX in my portfolio?

FEIFX and ADVGX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FEIFX or ADVGX?

ADVGX has higher volatility (5.29%) compared to FEIFX (2.82%). In terms of maximum drawdown, FEIFX dropped -35.39% vs ADVGX's -41.34%.

Which has better risk-adjusted returns?

FEIFX currently has the higher Sharpe Ratio (2.13 vs 1.87), 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.