ORDNX vs. FEQHX

Last updated Apr 2, 2026

Compare and contrast key facts about North Square Preferred and Income Securities Fund (ORDNX) and Fidelity Hedged Equity Fund (FEQHX).

ORDNX is managed by North Square. It was launched on Jun 28, 2013. FEQHX is an actively managed fund by Fidelity. It was launched on Sep 8, 2022.

Performance

ORDNX vs. FEQHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in North Square Preferred and Income Securities Fund (ORDNX) and Fidelity Hedged Equity Fund (FEQHX). The values are adjusted to include any dividend payments, if applicable.

ORDNX vs. FEQHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
ORDNX North Square Preferred and Income Securities Fund	-0.77%	7.30%	14.81%	15.24%	0.75%
FEQHX Fidelity Hedged Equity Fund	-4.09%	13.61%	19.46%	17.65%	-4.85%

Returns By Period

In the year-to-date period, ORDNX achieves a -0.77% return, which is significantly higher than FEQHX's -4.09% return.

ORDNX

• 1D: 0.43%
• 1M: -1.55%
• YTD: -0.77%
• 6M: -0.18%
• 1Y: 5.08%
• 3Y*: 12.10%
• 5Y*: 7.57%
• 10Y*: 11.45%

FEQHX

• 1D: 1.71%
• 1M: -4.16%
• YTD: -4.09%
• 6M: -3.55%
• 1Y: 13.00%
• 3Y*: 13.67%
• 5Y*: —
• 10Y*: —

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

ORDNX vs. FEQHX - Expense Ratio Comparison

ORDNX has a 1.27% expense ratio, which is higher than FEQHX's 0.55% expense ratio.

ORDNX

North Square Preferred and Income Securities Fund

FEQHX

Fidelity Hedged Equity Fund

Return for Risk

ORDNX vs. FEQHX — Risk / Return Rank

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

ORDNX

ORDNX Risk / Return Rank: 83
ORDNX Sharpe Ratio Rank: 90
ORDNX Sortino Ratio Rank: 87
ORDNX Omega Ratio Rank: 91
ORDNX Calmar Ratio Rank: 75
ORDNX Martin Ratio Rank: 70

FEQHX

FEQHX Risk / Return Rank: 65
FEQHX Sharpe Ratio Rank: 63
FEQHX Sortino Ratio Rank: 67
FEQHX Omega Ratio Rank: 55
FEQHX Calmar Ratio Rank: 72
FEQHX Martin Ratio Rank: 69

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.

ORDNX vs. FEQHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for North Square Preferred and Income Securities Fund (ORDNX) and Fidelity Hedged Equity Fund (FEQHX). 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.

	ORDNX	FEQHX	Difference
Sharpe ratio Return per unit of total volatility	1.92	1.21	+0.71
Sortino ratio Return per unit of downside risk	2.42	1.82	+0.61
Omega ratio Gain probability vs. loss probability	1.43	1.24	+0.20
Calmar ratio Return relative to maximum drawdown	1.87	1.84	+0.03
Martin ratio Return relative to average drawdown	7.04	7.27	-0.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ORDNX vs. FEQHX - Sharpe Ratio Comparison

The current ORDNX Sharpe Ratio is 1.92, which is higher than the FEQHX Sharpe Ratio of 1.21. The chart below compares the historical Sharpe Ratios of ORDNX and FEQHX, 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

	ORDNX	FEQHX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.92	1.21	+0.71
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.08	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.81	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	1.00	-0.27

Correlation

The correlation between ORDNX and FEQHX is 0.33, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

ORDNX vs. FEQHX - Dividend Comparison

ORDNX's dividend yield for the trailing twelve months is around 6.74%, more than FEQHX's 0.45% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ORDNX North Square Preferred and Income Securities Fund	6.74%	6.99%	5.50%	5.72%	15.30%	8.48%	2.77%	1.85%	3.13%	1.22%	2.65%	2.98%
FEQHX Fidelity Hedged Equity Fund	0.45%	0.43%	0.61%	0.77%	0.37%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

ORDNX vs. FEQHX - Drawdown Comparison

The maximum ORDNX drawdown since its inception was -34.40%, which is greater than FEQHX's maximum drawdown of -10.42%. Use the drawdown chart below to compare losses from any high point for ORDNX and FEQHX.

Drawdown Indicators

	ORDNX	FEQHX	Difference
Max Drawdown Largest peak-to-trough decline	-34.40%	-10.42%	-23.98%
Max Drawdown (1Y) Largest decline over 1 year	-2.66%	-7.40%	+4.74%
Max Drawdown (5Y) Largest decline over 5 years	-18.77%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-34.40%	—	—
Current Drawdown Current decline from peak	-2.15%	-5.82%	+3.67%
Average Drawdown Average peak-to-trough decline	-3.86%	-2.28%	-1.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.71%	1.87%	-1.16%

Volatility

ORDNX vs. FEQHX - Volatility Comparison

The current volatility for North Square Preferred and Income Securities Fund (ORDNX) is 1.18%, while Fidelity Hedged Equity Fund (FEQHX) has a volatility of 3.11%. This indicates that ORDNX experiences smaller price fluctuations and is considered to be less risky than FEQHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ORDNX	FEQHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.18%	3.11%	-1.93%
Volatility (6M) Calculated over the trailing 6-month period	1.74%	6.85%	-5.11%
Volatility (1Y) Calculated over the trailing 1-year period	2.66%	11.04%	-8.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.08%	11.29%	-4.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.24%	11.29%	+2.95%