ORIGX vs. ORSIX

Last updated Jun 23, 2026

ORIGX (North Square Spectrum Alpha Fund) and ORSIX (North Square Dynamic Small Cap Fund) are both mutual funds - ORIGX is a Small Cap Growth Equities fund managed by North Square, while ORSIX is a Small Cap Blend Equities fund managed by North Square. Over the past 10 years, ORIGX returned 10.39%/yr vs 14.60%/yr for ORSIX. Their correlation of 0.93 suggests significant overlap in exposure. ORIGX charges 1.60%/yr vs 1.36%/yr for ORSIX.

Performance

ORIGX vs. ORSIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in North Square Spectrum Alpha Fund (ORIGX) and North Square Dynamic Small Cap Fund (ORSIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with ORIGX having a 19.62% return and ORSIX slightly higher at 20.49%. Over the past 10 years, ORIGX has underperformed ORSIX with an annualized return of 10.39%, while ORSIX has yielded a comparatively higher 14.60% annualized return.

ORIGX

• 1D: 1.70%
• 1M: 4.88%
• YTD: 19.62%
• 6M: 16.65%
• 1Y: 39.55%
• 3Y*: 19.69%
• 5Y*: 7.59%
• 10Y*: 10.39%

ORSIX

• 1D: 1.72%
• 1M: 3.12%
• YTD: 20.49%
• 6M: 17.66%
• 1Y: 42.94%
• 3Y*: 21.13%
• 5Y*: 11.87%
• 10Y*: 14.60%

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

ORIGX vs. ORSIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ORIGX North Square Spectrum Alpha Fund	19.62%	9.45%	15.06%	24.70%	-27.57%	10.38%	29.92%	22.34%	-7.09%	18.20%
ORSIX North Square Dynamic Small Cap Fund	20.49%	10.44%	14.94%	29.16%	-18.46%	24.36%	19.34%	27.72%	-9.57%	15.63%

Correlation

The correlation between ORIGX and ORSIX is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Oct 2, 2015	0.93

The correlation between ORIGX and ORSIX has been stable across timeframes, ranging from 0.93 to 0.98 - a consistent structural relationship.

Return for Risk

ORIGX vs. ORSIX — Risk / Return Rank

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

ORIGX

ORIGX Risk / Return Rank: 69
ORIGX Sharpe Ratio Rank: 65
ORIGX Sortino Ratio Rank: 65
ORIGX Omega Ratio Rank: 53
ORIGX Calmar Ratio Rank: 88
ORIGX Martin Ratio Rank: 72

ORSIX

ORSIX Risk / Return Rank: 75
ORSIX Sharpe Ratio Rank: 72
ORSIX Sortino Ratio Rank: 67
ORSIX Omega Ratio Rank: 55
ORSIX Calmar Ratio Rank: 93
ORSIX 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.

ORIGX vs. ORSIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for North Square Spectrum Alpha Fund (ORIGX) and North Square Dynamic Small Cap Fund (ORSIX). 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.

	ORIGX	ORSIX	Difference
Sharpe ratio: Return per unit of total volatility	2.17	2.26	-0.09
Sortino ratio: Return per unit of downside risk	3.06	3.11	-0.04
Omega ratio: Gain probability vs. loss probability	1.37	1.38	-0.01
Calmar ratio: Return relative to maximum drawdown	4.14	4.77	-0.63
Martin ratio: Return relative to average drawdown	12.86	16.18	-3.32

ORIGX vs. ORSIX - Sharpe Ratio Comparison

The current ORIGX Sharpe Ratio is 2.17, which is comparable to the ORSIX Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of ORIGX and ORSIX, 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

ORIGX vs. ORSIX - Drawdown Comparison

The maximum ORIGX drawdown since its inception was -49.06%, which is greater than ORSIX's maximum drawdown of -42.58%. Use the drawdown chart below to compare losses from any high point for ORIGX and ORSIX.

Drawdown Indicators

	ORIGX	ORSIX	Difference
Max Drawdown Largest peak-to-trough decline	-49.06%	-42.58%	-6.48%
Max Drawdown (1Y) Largest decline over 1 year	-9.55%	-9.00%	-0.55%
Max Drawdown (3Y) Largest decline over 3 years	-26.25%	-26.57%	+0.32%
Max Drawdown (5Y) Largest decline over 5 years	-38.60%	-31.32%	-7.28%
Max Drawdown (10Y) Largest decline over 10 years	-39.38%	-42.58%	+3.20%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-10.79%	-8.23%	-2.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.07%	2.65%	+0.42%

Volatility

ORIGX vs. ORSIX - Volatility Comparison

The current volatility for North Square Spectrum Alpha Fund (ORIGX) is 5.64%, while North Square Dynamic Small Cap Fund (ORSIX) has a volatility of 6.13%. This indicates that ORIGX experiences smaller price fluctuations and is considered to be less risky than ORSIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ORIGX	ORSIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.64%	6.13%	-0.49%
Volatility (6M) Calculated over the trailing 6-month period	13.20%	14.06%	-0.86%
Volatility (1Y) Calculated over the trailing 1-year period	18.24%	18.97%	-0.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.87%	22.59%	-0.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.63%	23.40%	-1.77%

ORIGX vs. ORSIX - Expense Ratio Comparison

ORIGX has a 1.60% expense ratio, which is higher than ORSIX's 1.36% expense ratio.

Dividends

ORIGX vs. ORSIX - Dividend Comparison

ORIGX's dividend yield for the trailing twelve months is around 0.49%, less than ORSIX's 2.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ORIGX North Square Spectrum Alpha Fund	0.49%	0.00%	0.00%	0.00%	78.80%	15.09%	12.73%	16.48%	20.15%	146.42%	6.54%	6.73%
ORSIX North Square Dynamic Small Cap Fund	2.34%	2.82%	5.56%	0.16%	0.21%	46.91%	1.85%	0.26%	21.64%	0.31%	0.29%	0.37%

Frequently Asked Questions

Can I hold both ORIGX and ORSIX in my portfolio?

With a correlation of 0.97, ORIGX and ORSIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, ORIGX or ORSIX?

ORSIX has higher volatility (6.13%) compared to ORIGX (5.64%). In terms of maximum drawdown, ORIGX dropped -49.06% vs ORSIX's -42.58%.

Which has better risk-adjusted returns?

ORSIX currently has the higher Sharpe Ratio (2.26 vs 2.17), 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.