NMKBX vs. FEDUX

Last updated Apr 1, 2026

Compare and contrast key facts about North Square McKee Bond Fund (NMKBX) and Fidelity Education Income Fund (FEDUX).

NMKBX is managed by North Square. It was launched on Dec 27, 2020. FEDUX is managed by Fidelity. It was launched on Mar 16, 2021.

Performance

NMKBX vs. FEDUX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in North Square McKee Bond Fund (NMKBX) and Fidelity Education Income Fund (FEDUX). The values are adjusted to include any dividend payments, if applicable.

NMKBX vs. FEDUX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
NMKBX North Square McKee Bond Fund	-0.06%	7.26%	1.78%	5.96%	-9.46%	-0.57%
FEDUX Fidelity Education Income Fund	-0.29%	6.40%	-0.29%	1.62%	-8.38%	-1.27%

Returns By Period

In the year-to-date period, NMKBX achieves a -0.06% return, which is significantly higher than FEDUX's -0.29% return.

NMKBX

• 1D: 0.57%
• 1M: -1.88%
• YTD: -0.06%
• 6M: 0.91%
• 1Y: 4.30%
• 3Y*: 4.08%
• 5Y*: 0.99%
• 10Y*: —

FEDUX

• 1D: 0.22%
• 1M: -1.40%
• YTD: -0.29%
• 6M: 0.82%
• 1Y: 3.87%
• 3Y*: 2.10%
• 5Y*: —
• 10Y*: —

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

NMKBX vs. FEDUX - Expense Ratio Comparison

NMKBX has a 0.28% expense ratio, which is higher than FEDUX's 0.00% expense ratio.

NMKBX

North Square McKee Bond Fund

FEDUX

Fidelity Education Income Fund

Return for Risk

NMKBX vs. FEDUX — Risk / Return Rank

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

NMKBX

NMKBX Risk / Return Rank: 58
NMKBX Sharpe Ratio Rank: 57
NMKBX Sortino Ratio Rank: 55
NMKBX Omega Ratio Rank: 41
NMKBX Calmar Ratio Rank: 81
NMKBX Martin Ratio Rank: 57

FEDUX

FEDUX Risk / Return Rank: 88
FEDUX Sharpe Ratio Rank: 85
FEDUX Sortino Ratio Rank: 91
FEDUX Omega Ratio Rank: 82
FEDUX Calmar Ratio Rank: 91
FEDUX Martin Ratio Rank: 89

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. FEDUX - Risk-Adjusted Trends Comparison

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

	NMKBX	FEDUX	Difference
Sharpe ratio Return per unit of total volatility	1.07	1.64	-0.57
Sortino ratio Return per unit of downside risk	1.53	2.65	-1.13
Omega ratio Gain probability vs. loss probability	1.19	1.33	-0.14
Calmar ratio Return relative to maximum drawdown	1.99	2.68	-0.69
Martin ratio Return relative to average drawdown	5.59	9.90	-4.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NMKBX vs. FEDUX - Sharpe Ratio Comparison

The current NMKBX Sharpe Ratio is 1.07, which is lower than the FEDUX Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of NMKBX and FEDUX, 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

	NMKBX	FEDUX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.07	1.64	-0.57
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.19	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.12	-0.19	+0.31

Correlation

The correlation between NMKBX and FEDUX is 0.86, 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

NMKBX vs. FEDUX - Dividend Comparison

NMKBX's dividend yield for the trailing twelve months is around 4.24%, more than FEDUX's 4.04% yield.

	TTM	2025	2024	2023	2022	2021
NMKBX North Square McKee Bond Fund	4.24%	4.25%	4.19%	3.54%	2.12%	0.77%
FEDUX Fidelity Education Income Fund	4.04%	4.43%	0.36%	0.71%	0.00%	0.13%

Drawdowns

NMKBX vs. FEDUX - Drawdown Comparison

The maximum NMKBX drawdown since its inception was -14.25%, which is greater than FEDUX's maximum drawdown of -12.00%. Use the drawdown chart below to compare losses from any high point for NMKBX and FEDUX.

Drawdown Indicators

	NMKBX	FEDUX	Difference
Max Drawdown Largest peak-to-trough decline	-14.25%	-12.00%	-2.25%
Max Drawdown (1Y) Largest decline over 1 year	-2.58%	-1.72%	-0.86%
Max Drawdown (5Y) Largest decline over 5 years	-14.25%	—	—
Current Drawdown Current decline from peak	-1.88%	-3.07%	+1.19%
Average Drawdown Average peak-to-trough decline	-4.63%	-6.61%	+1.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.92%	0.47%	+0.45%

Volatility

NMKBX vs. FEDUX - Volatility Comparison

North Square McKee Bond Fund (NMKBX) has a higher volatility of 1.61% compared to Fidelity Education Income Fund (FEDUX) at 0.80%. This indicates that NMKBX's price experiences larger fluctuations and is considered to be riskier than FEDUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NMKBX	FEDUX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.61%	0.80%	+0.81%
Volatility (6M) Calculated over the trailing 6-month period	2.53%	1.67%	+0.86%
Volatility (1Y) Calculated over the trailing 1-year period	4.27%	2.69%	+1.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.39%	3.14%	+2.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.28%	3.14%	+2.14%