PFO vs. ORDNX
PFO (Flaherty & Crumrine Preferred and Income Opportunity Fund) and ORDNX (North Square Preferred and Income Securities Fund) are both Preferred Stock funds. Over the past 10 years, PFO returned 3.96%/yr vs 11.18%/yr for ORDNX. Their 0.29 correlation means their historical movements had little consistent relationship. PFO charges 1.40%/yr vs 1.27%/yr for ORDNX.
Performance
PFO vs. ORDNX - Performance Comparison
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Returns By Period
In the year-to-date period, PFO achieves a 0.83% return, which is significantly lower than ORDNX's 1.10% return. Over the past 10 years, PFO has underperformed ORDNX with an annualized return of 3.96%, while ORDNX has yielded a comparatively higher 11.18% annualized return.
PFO
- 1D
- 0.55%
- 1M
- -0.36%
- 6M
- -1.72%
- YTD
- 0.83%
- 1Y
- 5.86%
- 3Y*
- 12.55%
- 5Y*
- 0.10%
- 10Y*
- 3.96%
- ALL TIME*
- 5.16%
ORDNX
- 1D
- -0.06%
- 1M
- -0.86%
- 6M
- 0.40%
- YTD
- 1.10%
- 1Y
- 3.83%
- 3Y*
- 9.50%
- 5Y*
- 5.87%
- 10Y*
- 11.18%
- ALL TIME*
- 10.18%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $273.61K | $212.78K | $249.77K |
PFO vs. ORDNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PFO Flaherty & Crumrine Preferred and Income Opportunity Fund | 0.83% | 12.47% | 21.42% | -0.59% | -27.25% | 3.57% | 14.06% | 24.93% | -4.20% | 13.98% |
ORDNX North Square Preferred and Income Securities Fund | 1.10% | 7.30% | 14.81% | 15.24% | -14.22% | 27.51% | 12.29% | 31.10% | -0.98% | 20.57% |
Correlation
The correlation between PFO and ORDNX is 0.38, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.38 |
Correlation (3Y) Balances recent behavior with more history. | 0.44 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.42 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.30 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2014 | 0.29 |
The correlation between PFO and ORDNX shifts across timeframes, from 0.29 (all time) to 0.44 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
PFO vs. ORDNX — Risk / Return Rank
PFO
ORDNX
PFO vs. ORDNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Flaherty & Crumrine Preferred and Income Opportunity Fund (PFO) and North Square Preferred and Income Securities Fund (ORDNX). 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.
| PFO | ORDNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.87 | ||
| Sortino ratioReturn per unit of downside risk | -1.27 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.33 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 0.80 | 1.45 | -0.64 |
| Martin ratioReturn relative to average drawdown | 2.17 | 5.86 | -3.69 |
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Drawdowns
PFO vs. ORDNX - Drawdown Comparison
The maximum PFO drawdown since its inception was -77.36%, which is greater than ORDNX's maximum drawdown of -34.40%. Use the drawdown chart below to compare losses from any high point for PFO and ORDNX.
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Drawdown Indicators
| PFO | ORDNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.36% | -34.40% | -42.96% |
Max Drawdown (1Y)Largest decline over 1 year | -7.47% | -2.66% | -4.81% |
Max Drawdown (3Y)Largest decline over 3 years | -11.64% | -5.50% | -6.14% |
Max Drawdown (5Y)Largest decline over 5 years | -39.29% | -18.77% | -20.52% |
Max Drawdown (10Y)Largest decline over 10 years | -48.97% | -34.40% | -14.57% |
Current DrawdownCurrent decline from peak | -3.89% | -0.90% | -2.99% |
Average DrawdownAverage peak-to-trough decline | -12.46% | -3.77% | -8.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.77% | 0.66% | +2.11% |
Volatility
PFO vs. ORDNX - Volatility Comparison
Flaherty & Crumrine Preferred and Income Opportunity Fund (PFO) has a higher volatility of 1.91% compared to North Square Preferred and Income Securities Fund (ORDNX) at 0.49%. This indicates that PFO's price experiences larger fluctuations and is considered to be riskier than ORDNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PFO | ORDNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.91% | 0.49% | +1.42% |
Volatility (6M)Calculated over the trailing 6-month period | 5.29% | 2.00% | +3.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.49% | 2.30% | +5.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.81% | 6.39% | +8.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.78% | 14.07% | +7.71% |
PFO vs. ORDNX - Expense Ratio Comparison
PFO has a 1.40% expense ratio, which is higher than ORDNX's 1.27% expense ratio.
Dividends
PFO vs. ORDNX - Dividend Comparison
PFO's dividend yield for the trailing twelve months is around 7.39%, more than ORDNX's 6.78% 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% |
PFO Flaherty & Crumrine Preferred and Income Opportunity Fund | 7.39% | 6.84% | 6.75% | 7.18% | 8.73% | 6.49% | 6.10% | 6.31% | 7.55% | 7.25% | 8.03% | 8.21% |
Frequently Asked Questions
PFO and ORDNX have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PFO has higher volatility (1.91%) compared to ORDNX (0.49%). In terms of maximum drawdown, PFO dropped -77.36% vs ORDNX's -34.40%.
ORDNX currently has the higher Sharpe Ratio (1.67 vs 0.80), 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.
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