NMKBX vs. ADVGX

Last updated Jun 24, 2026

NMKBX (North Square McKee Bond Fund) and ADVGX (North Square Advisory Research Small Cap Value Fund) are both mutual funds - NMKBX is a Intermediate Core Bond fund managed by North Square, while ADVGX is a Large Cap Value Equities fund managed by North Square. Over the past 5 years, NMKBX returned 0.90%/yr vs 11.32%/yr for ADVGX. At a 0.18 correlation, their price movements are largely independent. NMKBX charges 0.28%/yr vs 0.95%/yr for ADVGX.

Performance

NMKBX vs. ADVGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in North Square McKee Bond Fund (NMKBX) 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, NMKBX achieves a 0.38% return, which is significantly lower than ADVGX's 17.70% return.

NMKBX

• 1D: -0.34%
• 1M: 0.47%
• YTD: 0.38%
• 6M: 0.56%
• 1Y: 4.36%
• 3Y*: 4.38%
• 5Y*: 0.90%
• 10Y*: —

ADVGX

• 1D: 0.26%
• 1M: 8.21%
• YTD: 17.70%
• 6M: 14.92%
• 1Y: 30.92%
• 3Y*: 20.30%
• 5Y*: 11.32%
• 10Y*: 12.61%

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

NMKBX vs. ADVGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
NMKBX North Square McKee Bond Fund	0.38%	7.26%	1.78%	5.96%	-9.46%	-1.24%	0.10%
ADVGX North Square Advisory Research Small Cap Value Fund	17.70%	7.13%	15.52%	20.90%	-12.98%	29.94%	0.21%

Correlation

The correlation between NMKBX and ADVGX is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (5Y) Calculated over the trailing 5-year period	0.19
Correlation (All Time) Calculated using the full available price history since Dec 29, 2020	0.18

The correlation between NMKBX and ADVGX shifts across timeframes, from 0.18 (all time) to 0.35 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

NMKBX vs. ADVGX — Risk / Return Rank

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

NMKBX

NMKBX Risk / Return Rank: 23
NMKBX Sharpe Ratio Rank: 22
NMKBX Sortino Ratio Rank: 23
NMKBX Omega Ratio Rank: 20
NMKBX Calmar Ratio Rank: 25
NMKBX Martin Ratio Rank: 22

ADVGX

ADVGX Risk / Return Rank: 37
ADVGX Sharpe Ratio Rank: 41
ADVGX Sortino Ratio Rank: 44
ADVGX Omega Ratio Rank: 36
ADVGX Calmar Ratio Rank: 39
ADVGX Martin Ratio Rank: 28

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.

NMKBX vs. ADVGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for North Square McKee Bond Fund (NMKBX) 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.

	NMKBX	ADVGX	Difference
Sharpe ratio: Return per unit of total volatility	1.23	1.74	-0.50
Sortino ratio: Return per unit of downside risk	1.84	2.56	-0.72
Omega ratio: Gain probability vs. loss probability	1.21	1.29	-0.08
Calmar ratio: Return relative to maximum drawdown	1.71	2.26	-0.55
Martin ratio: Return relative to average drawdown	4.95	6.02	-1.07

NMKBX vs. ADVGX - Sharpe Ratio Comparison

The current NMKBX Sharpe Ratio is 1.23, which is comparable to the ADVGX Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of NMKBX 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

NMKBX vs. ADVGX - Drawdown Comparison

The maximum NMKBX drawdown since its inception was -14.25%, smaller than the maximum ADVGX drawdown of -41.34%. Use the drawdown chart below to compare losses from any high point for NMKBX and ADVGX.

Drawdown Indicators

	NMKBX	ADVGX	Difference
Max Drawdown Largest peak-to-trough decline	-14.25%	-41.34%	+27.09%
Max Drawdown (1Y) Largest decline over 1 year	-2.69%	-14.92%	+12.23%
Max Drawdown (3Y) Largest decline over 3 years	-6.84%	-27.69%	+20.85%
Max Drawdown (5Y) Largest decline over 5 years	-14.25%	-27.69%	+13.44%
Max Drawdown (10Y) Largest decline over 10 years	—	-41.34%	—
Current Drawdown Current decline from peak	-1.45%	0.00%	-1.45%
Average Drawdown Average peak-to-trough decline	-4.50%	-5.55%	+1.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.93%	5.59%	-4.66%

Volatility

NMKBX vs. ADVGX - Volatility Comparison

The current volatility for North Square McKee Bond Fund (NMKBX) is 1.18%, while North Square Advisory Research Small Cap Value Fund (ADVGX) has a volatility of 4.91%. This indicates that NMKBX 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

	NMKBX	ADVGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.18%	4.91%	-3.73%
Volatility (6M) Calculated over the trailing 6-month period	2.80%	14.08%	-11.28%
Volatility (1Y) Calculated over the trailing 1-year period	3.75%	19.49%	-15.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.44%	21.51%	-16.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.23%	21.11%	-15.88%

NMKBX vs. ADVGX - Expense Ratio Comparison

NMKBX has a 0.28% expense ratio, which is lower than ADVGX's 0.95% expense ratio.

Dividends

NMKBX vs. ADVGX - Dividend Comparison

NMKBX's dividend yield for the trailing twelve months is around 4.19%, less than ADVGX's 4.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ADVGX North Square Advisory Research Small Cap Value Fund	4.83%	5.68%	1.16%	0.85%	6.87%	7.52%	11.47%	11.43%	41.46%	9.66%	7.34%	19.79%
NMKBX North Square McKee Bond Fund	4.19%	4.25%	4.19%	3.54%	2.12%	0.77%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NMKBX and ADVGX in my portfolio?

NMKBX and ADVGX have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NMKBX or ADVGX?

ADVGX has higher volatility (4.91%) compared to NMKBX (1.18%). In terms of maximum drawdown, NMKBX dropped -14.25% vs ADVGX's -41.34%.

Which has better risk-adjusted returns?

ADVGX currently has the higher Sharpe Ratio (1.74 vs 1.23), 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.