ORDNX vs. PISHX

Last updated Aug 4, 2026

ORDNX (North Square Preferred and Income Securities Fund) and PISHX (Cohen & Steers Preferred Securities and Income SMA Shares) are both Preferred Stock funds. Over the past 5 years, ORDNX returned 5.87%/yr vs 3.75%/yr for PISHX. Their 0.57 correlation means they have sometimes moved together and sometimes differently. ORDNX charges 1.27%/yr vs 0.00%/yr for PISHX.

Performance

ORDNX vs. PISHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in North Square Preferred and Income Securities Fund (ORDNX) and Cohen & Steers Preferred Securities and Income SMA Shares (PISHX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ORDNX achieves a 1.10% return, which is significantly lower than PISHX's 1.85% return.

ORDNX

• 1D: 0.00%
• 1M: -0.86%
• 6M: 0.40%
• YTD: 1.10%
• 1Y: 3.83%
• 3Y*: 9.48%
• 5Y*: 5.87%
• 10Y*: 11.21%
• ALL TIME*: 10.18%

PISHX

• 1D: -0.38%
• 1M: -0.96%
• 6M: 1.06%
• YTD: 1.85%
• 1Y: 5.56%
• 3Y*: 10.17%
• 5Y*: 3.75%
• 10Y*: —
• ALL TIME*: 5.85%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ORDNX North Square Preferred and Income Securities Fund	$0.00	$0.00	$0.00
PISHX Cohen & Steers Preferred Securities and Income SMA Shares	$0.00	$0.00	$0.00

ORDNX vs. PISHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
ORDNX North Square Preferred and Income Securities Fund	1.10%	7.30%	14.81%	15.24%	-14.22%	27.51%	12.29%	20.58%
PISHX Cohen & Steers Preferred Securities and Income SMA Shares	1.85%	9.65%	12.50%	7.91%	-11.73%	4.30%	8.57%	12.46%

Correlation

The correlation between ORDNX and PISHX is 0.80, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.80
Correlation (3Y) Balances recent behavior with more history.	0.80
Correlation (5Y) Shows whether the relationship held over a longer period.	0.76
Correlation (All Time) Calculated using the full available price history since Mar 1, 2019	0.57

Over the past year, ORDNX and PISHX have become more correlated (0.80) than their long-term average of 0.57, meaning their price movements have been converging.

Return for Risk

ORDNX vs. PISHX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ORDNX

ORDNX Risk / Return Rank: 54
ORDNX Sharpe Ratio Rank: 66
ORDNX Sortino Ratio Rank: 65
ORDNX Omega Ratio Rank: 72
ORDNX Calmar Ratio Rank: 30
ORDNX Martin Ratio Rank: 36

PISHX

PISHX Risk / Return Rank: 77
PISHX Sharpe Ratio Rank: 90
PISHX Sortino Ratio Rank: 90
PISHX Omega Ratio Rank: 92
PISHX Calmar Ratio Rank: 49
PISHX Martin Ratio Rank: 66

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ORDNX vs. PISHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for North Square Preferred and Income Securities Fund (ORDNX) and Cohen & Steers Preferred Securities and Income SMA Shares (PISHX). 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.

	ORDNX	PISHX	Difference
Sharpe ratio: Return per unit of total volatility	1.65	2.28	-0.63
Sortino ratio: Return per unit of downside risk	2.37	3.39	-1.02
Omega ratio: Gain probability vs. loss probability	1.33	1.52	-0.18
Calmar ratio: Return relative to maximum drawdown	1.43	1.98	-0.55
Martin ratio: Return relative to average drawdown	5.76	8.85	-3.09

ORDNX vs. PISHX - Sharpe Ratio Comparison

The current ORDNX Sharpe Ratio is 1.65, which is comparable to the PISHX Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of ORDNX and PISHX, 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

ORDNX vs. PISHX - Drawdown Comparison

The maximum ORDNX drawdown since its inception was -34.40%, which is greater than PISHX's maximum drawdown of -27.12%. Use the drawdown chart below to compare losses from any high point for ORDNX and PISHX.

Drawdown Indicators

	ORDNX	PISHX	Difference
Max Drawdown Largest peak-to-trough decline	-34.40%	-27.12%	-7.28%
Max Drawdown (1Y) Largest decline over 1 year	-2.66%	-2.83%	+0.17%
Max Drawdown (3Y) Largest decline over 3 years	-5.50%	-3.90%	-1.60%
Max Drawdown (5Y) Largest decline over 5 years	-18.77%	-19.14%	+0.37%
Max Drawdown (10Y) Largest decline over 10 years	-34.40%	—	—
Current Drawdown Current decline from peak	-0.90%	-1.05%	+0.15%
Average Drawdown Average peak-to-trough decline	-3.77%	-3.86%	+0.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.66%	0.63%	+0.03%

Volatility

ORDNX vs. PISHX - Volatility Comparison

The current volatility for North Square Preferred and Income Securities Fund (ORDNX) is 0.47%, while Cohen & Steers Preferred Securities and Income SMA Shares (PISHX) has a volatility of 0.62%. This indicates that ORDNX experiences smaller price fluctuations and is considered to be less risky than PISHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ORDNX	PISHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.47%	0.62%	-0.15%
Volatility (6M) Calculated over the trailing 6-month period	2.00%	2.12%	-0.12%
Volatility (1Y) Calculated over the trailing 1-year period	2.30%	2.46%	-0.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.39%	4.58%	+1.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.07%	7.28%	+6.79%

ORDNX vs. PISHX - Expense Ratio Comparison

ORDNX has a 1.27% expense ratio, which is higher than PISHX's 0.00% expense ratio.

Dividends

ORDNX vs. PISHX - Dividend Comparison

ORDNX's dividend yield for the trailing twelve months is around 6.78%, more than PISHX's 5.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ORDNX North Square Preferred and Income Securities Fund	6.78%	6.99%	5.50%	5.72%	15.30%	8.48%	2.77%	1.85%	3.13%	1.22%	2.65%	2.98%
PISHX Cohen & Steers Preferred Securities and Income SMA Shares	5.17%	5.52%	5.89%	5.92%	5.45%	4.25%	4.59%	3.38%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ORDNX and PISHX in my portfolio?

ORDNX and PISHX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ORDNX or PISHX?

PISHX has higher volatility (0.62%) compared to ORDNX (0.47%). In terms of maximum drawdown, ORDNX dropped -34.40% vs PISHX's -27.12%.

Which has better risk-adjusted returns?

PISHX currently has the higher Sharpe Ratio (2.28 vs 1.65), 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.