ORIGX vs. QISGX

Last updated Aug 4, 2026

ORIGX (North Square Spectrum Alpha Fund) and QISGX (Federated Hermes MDT Small Cap Growth Fund) are both Small Cap Growth Equities funds. Over the past 10 years, ORIGX returned 10.09%/yr vs 12.94%/yr for QISGX. Their correlation of 0.90 means they have usually moved in the same direction. ORIGX charges 1.60%/yr vs 0.89%/yr for QISGX.

Performance

ORIGX vs. QISGX - Performance Comparison

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

Returns By Period

In the year-to-date period, ORIGX achieves a 21.07% return, which is significantly higher than QISGX's 17.98% return. Over the past 10 years, ORIGX has underperformed QISGX with an annualized return of 10.09%, while QISGX has yielded a comparatively higher 12.94% annualized return.

ORIGX

• 1D: -0.37%
• 1M: -1.27%
• 6M: 14.00%
• YTD: 21.07%
• 1Y: 35.97%
• 3Y*: 17.79%
• 5Y*: 6.95%
• 10Y*: 10.09%
• ALL TIME*: 9.42%

QISGX

• 1D: -0.84%
• 1M: -3.49%
• 6M: 12.95%
• YTD: 17.98%
• 1Y: 34.12%
• 3Y*: 17.58%
• 5Y*: 8.32%
• 10Y*: 12.94%
• ALL TIME*: 9.73%

*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)
ORIGX North Square Spectrum Alpha Fund	$0.00	$0.00	$0.00
QISGX Federated Hermes MDT Small Cap Growth Fund	$0.00	$0.00	$0.00

ORIGX vs. QISGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ORIGX North Square Spectrum Alpha Fund	21.07%	9.45%	15.06%	24.70%	-27.57%	10.38%	29.92%	22.34%	-7.09%	18.20%
QISGX Federated Hermes MDT Small Cap Growth Fund	17.98%	17.72%	15.63%	19.63%	-27.94%	18.14%	29.91%	21.14%	-6.33%	25.17%

Correlation

The correlation between ORIGX and QISGX is 0.39, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.39
Correlation (3Y) Balances recent behavior with more history.	0.63
Correlation (5Y) Shows whether the relationship held over a longer period.	0.78
Correlation (10Y) Provides a long-term view across more market conditions.	0.85
Correlation (All Time) Calculated using the full available price history since Jan 3, 2006	0.90

Over the past year, the correlation between ORIGX and QISGX has dropped to 0.39 - well below their long-term average of 0.90, suggesting their price drivers have been diverging.

Return for Risk

ORIGX vs. QISGX — Risk / Return Rank

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

ORIGX

ORIGX Risk / Return Rank: 79
ORIGX Sharpe Ratio Rank: 76
ORIGX Sortino Ratio Rank: 76
ORIGX Omega Ratio Rank: 69
ORIGX Calmar Ratio Rank: 90
ORIGX Martin Ratio Rank: 83

QISGX

QISGX Risk / Return Rank: 63
QISGX Sharpe Ratio Rank: 55
QISGX Sortino Ratio Rank: 60
QISGX Omega Ratio Rank: 58
QISGX Calmar Ratio Rank: 74
QISGX Martin Ratio Rank: 67

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.

ORIGX vs. QISGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for North Square Spectrum Alpha Fund (ORIGX) and Federated Hermes MDT Small Cap Growth Fund (QISGX). 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	QISGX	Difference
Sharpe ratio: Return per unit of total volatility	1.86	1.54	+0.32
Sortino ratio: Return per unit of downside risk	2.69	2.28	+0.41
Omega ratio: Gain probability vs. loss probability	1.32	1.29	+0.03
Calmar ratio: Return relative to maximum drawdown	3.51	2.51	+0.99
Martin ratio: Return relative to average drawdown	10.87	9.01	+1.86

ORIGX vs. QISGX - Sharpe Ratio Comparison

The current ORIGX Sharpe Ratio is 1.86, which is comparable to the QISGX Sharpe Ratio of 1.54. The chart below compares the historical Sharpe Ratios of ORIGX and QISGX, 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. QISGX - Drawdown Comparison

The maximum ORIGX drawdown since its inception was -49.06%, smaller than the maximum QISGX drawdown of -60.75%. Use the drawdown chart below to compare losses from any high point for ORIGX and QISGX.

Drawdown Indicators

	ORIGX	QISGX	Difference
Max Drawdown Largest peak-to-trough decline	-49.06%	-60.75%	+11.69%
Max Drawdown (1Y) Largest decline over 1 year	-9.55%	-13.23%	+3.68%
Max Drawdown (3Y) Largest decline over 3 years	-26.25%	-27.28%	+1.03%
Max Drawdown (5Y) Largest decline over 5 years	-38.60%	-38.60%	0.00%
Max Drawdown (10Y) Largest decline over 10 years	-39.38%	-45.08%	+5.70%
Current Drawdown Current decline from peak	-2.60%	-5.10%	+2.50%
Average Drawdown Average peak-to-trough decline	-10.76%	-13.79%	+3.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.08%	3.69%	-0.61%

Volatility

ORIGX vs. QISGX - Volatility Comparison

The current volatility for North Square Spectrum Alpha Fund (ORIGX) is 3.88%, while Federated Hermes MDT Small Cap Growth Fund (QISGX) has a volatility of 5.19%. This indicates that ORIGX experiences smaller price fluctuations and is considered to be less risky than QISGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ORIGX	QISGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.88%	5.19%	-1.31%
Volatility (6M) Calculated over the trailing 6-month period	13.07%	16.29%	-3.22%
Volatility (1Y) Calculated over the trailing 1-year period	18.05%	21.63%	-3.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.84%	24.58%	-2.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.52%	24.68%	-3.16%

ORIGX vs. QISGX - Expense Ratio Comparison

ORIGX has a 1.60% expense ratio, which is higher than QISGX's 0.89% expense ratio.

Dividends

ORIGX vs. QISGX - Dividend Comparison

ORIGX's dividend yield for the trailing twelve months is around 0.48%, less than QISGX's 3.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ORIGX North Square Spectrum Alpha Fund	0.48%	0.00%	0.00%	0.00%	78.80%	15.09%	12.73%	16.48%	20.15%	146.42%	6.54%	6.73%
QISGX Federated Hermes MDT Small Cap Growth Fund	3.32%	3.91%	0.00%	0.05%	3.63%	29.34%	0.45%	0.00%	7.03%	5.09%	1.61%	18.51%

Frequently Asked Questions

Can I hold both ORIGX and QISGX in my portfolio?

ORIGX and QISGX have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ORIGX or QISGX?

QISGX has higher volatility (5.19%) compared to ORIGX (3.88%). In terms of maximum drawdown, ORIGX dropped -49.06% vs QISGX's -60.75%.

Which has better risk-adjusted returns?

ORIGX currently has the higher Sharpe Ratio (1.86 vs 1.54), 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.