ORSIX vs. ADVGX

Last updated Jun 23, 2026

ORSIX (North Square Dynamic Small Cap Fund) and ADVGX (North Square Advisory Research Small Cap Value Fund) are both mutual funds - ORSIX is a Small Cap Blend Equities fund managed by North Square, while ADVGX is a Large Cap Value Equities fund managed by North Square. Over the past 10 years, ORSIX returned 14.60%/yr vs 12.30%/yr for ADVGX. Their correlation of 0.86 suggests significant overlap in exposure. ORSIX charges 1.36%/yr vs 0.95%/yr for ADVGX.

Performance

ORSIX vs. ADVGX - Performance Comparison

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

Returns By Period

In the year-to-date period, ORSIX achieves a 20.49% return, which is significantly higher than ADVGX's 17.40% return. Over the past 10 years, ORSIX has outperformed ADVGX with an annualized return of 14.60%, while ADVGX has yielded a comparatively lower 12.30% annualized return.

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%

ADVGX

• 1D: 1.64%
• 1M: 7.93%
• YTD: 17.40%
• 6M: 13.87%
• 1Y: 33.24%
• 3Y*: 19.25%
• 5Y*: 11.72%
• 10Y*: 12.30%

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

ORSIX vs. ADVGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
ADVGX North Square Advisory Research Small Cap Value Fund	17.40%	7.13%	15.52%	20.90%	-12.98%	29.94%	-2.61%	27.64%	-3.27%	19.60%

Correlation

The correlation between ORSIX and ADVGX is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Oct 2, 2015	0.86

The correlation between ORSIX and ADVGX shifts across timeframes, from 0.78 (1 year) to 0.89 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

ORSIX vs. ADVGX — Risk / Return Rank

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

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

ADVGX

ADVGX Risk / Return Rank: 37
ADVGX Sharpe Ratio Rank: 40
ADVGX Sortino Ratio Rank: 43
ADVGX Omega Ratio Rank: 35
ADVGX Calmar Ratio Rank: 39
ADVGX Martin Ratio Rank: 27

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.

ORSIX vs. ADVGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for North Square Dynamic Small Cap Fund (ORSIX) and North Square Advisory Research Small Cap Value Fund (ADVGX). 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.

	ORSIX	ADVGX	Difference
Sharpe ratio: Return per unit of total volatility	2.26	1.72	+0.54
Sortino ratio: Return per unit of downside risk	3.11	2.54	+0.57
Omega ratio: Gain probability vs. loss probability	1.38	1.29	+0.08
Calmar ratio: Return relative to maximum drawdown	4.77	2.25	+2.53
Martin ratio: Return relative to average drawdown	16.18	5.98	+10.20

ORSIX vs. ADVGX - Sharpe Ratio Comparison

The current ORSIX Sharpe Ratio is 2.26, which is higher than the ADVGX Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of ORSIX and ADVGX, 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

ORSIX vs. ADVGX - Drawdown Comparison

The maximum ORSIX drawdown since its inception was -42.58%, roughly equal to the maximum ADVGX drawdown of -41.34%. Use the drawdown chart below to compare losses from any high point for ORSIX and ADVGX.

Drawdown Indicators

	ORSIX	ADVGX	Difference
Max Drawdown Largest peak-to-trough decline	-42.58%	-41.34%	-1.24%
Max Drawdown (1Y) Largest decline over 1 year	-9.00%	-14.92%	+5.92%
Max Drawdown (3Y) Largest decline over 3 years	-26.57%	-27.69%	+1.12%
Max Drawdown (5Y) Largest decline over 5 years	-31.32%	-27.69%	-3.63%
Max Drawdown (10Y) Largest decline over 10 years	-42.58%	-41.34%	-1.24%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-8.23%	-5.56%	-2.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.65%	5.59%	-2.94%

Volatility

ORSIX vs. ADVGX - Volatility Comparison

North Square Dynamic Small Cap Fund (ORSIX) has a higher volatility of 6.13% compared to North Square Advisory Research Small Cap Value Fund (ADVGX) at 5.11%. This indicates that ORSIX's price experiences larger fluctuations and is considered to be riskier than ADVGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ORSIX	ADVGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.13%	5.11%	+1.02%
Volatility (6M) Calculated over the trailing 6-month period	14.06%	14.09%	-0.03%
Volatility (1Y) Calculated over the trailing 1-year period	18.97%	19.46%	-0.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.59%	21.52%	+1.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.40%	21.10%	+2.30%

ORSIX vs. ADVGX - Expense Ratio Comparison

ORSIX has a 1.36% expense ratio, which is higher than ADVGX's 0.95% expense ratio.

Dividends

ORSIX vs. ADVGX - Dividend Comparison

ORSIX's dividend yield for the trailing twelve months is around 2.34%, less than ADVGX's 4.84% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ADVGX North Square Advisory Research Small Cap Value Fund	4.84%	5.68%	1.16%	0.85%	6.87%	7.52%	11.47%	11.43%	41.46%	9.66%	7.34%	19.79%
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 ORSIX and ADVGX in my portfolio?

ORSIX and ADVGX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ORSIX or ADVGX?

ORSIX has higher volatility (6.13%) compared to ADVGX (5.11%). In terms of maximum drawdown, ORSIX dropped -42.58% vs ADVGX's -41.34%.

Which has better risk-adjusted returns?

ORSIX currently has the higher Sharpe Ratio (2.26 vs 1.72), 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.