ETFAX Performance — North Square Tactical Growth Fund, Class A
Data updated: 2026-09-25
ETFAX returned −19.11% year to date and −39.93% over one year to May 2026. Over one year the fund trailed its US Multi-Cap Blend category average: $100 grew to $60, against $119 for the category. Volatility over the past 12 months was 10.08% a year. In the 12 months to May 2026 the fund lost a net $24.9M, and assets reached $616.27M.
ETFAX Growth of $100
What $100 invested in North Square Tactical Growth Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the US Multi-Cap Blend category average over the same months.
| Period | ETFAX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $60 | $119 |
| 3 years (Jun 2023 – May 2026) | $19 | $147 |
| 5 years (Jun 2021 – May 2026) | $15 | $136 |
ETFAX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | −19.11% |
| 1 year | −39.93% |
3- and 5-year figures withheld: returns differ from sibling classes.
ETFAX Annual Returns
Calendar-year total returns of North Square Tactical Growth Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | −19.11% |
| 2025 | −43.86% |
| 2024 | −43.35% |
| 2023 | −35.74% |
| 2022 | −14.34% |
| 2021 (Jun–Dec) | +4.54% |
ETFAX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | −4.1% | −6.0% | −10.1% | +1.5% | −1.6% | — | — | — | — | — | — | — |
| 2025 | −3.3% | −6.8% | −9.6% | −6.0% | −1.4% | −2.2% | −5.2% | −3.2% | −2.2% | −4.7% | −5.9% | −5.7% |
| 2024 | −5.1% | −0.9% | −3.6% | −10.0% | −2.4% | −3.8% | −4.6% | −3.8% | −4.4% | −7.1% | −1.0% | −8.3% |
| 2023 | +4.6% | −2.1% | −3.5% | −4.8% | −5.6% | −1.6% | −3.3% | −7.7% | −9.8% | −7.1% | −0.8% | −0.9% |
| 2022 | −4.7% | −1.5% | +3.3% | −7.2% | +0.1% | −4.5% | +4.4% | −2.1% | −4.7% | +3.7% | +2.9% | −4.1% |
| 2021 | — | — | — | — | — | +1.5% | −0.3% | +2.0% | −3.9% | +4.5% | −1.4% | +2.2% |
ETFAX Risk
Risk measures from monthly returns over Jun 2025 – May 2026.
- 1-year volatility (annualised): 10.08%
- Best month: +1.49% (Apr 2026)
- Worst month: −10.11% (Mar 2026)
ETFAX Fund Flows
Monthly money in and out of North Square Tactical Growth Fund, from SEC Form N-PORT.
- 12-month net flow: −$24.9M
- 12-month gross sales (incl. reinvestments): $76.4M
- Sales ÷ redemptions: 0.75×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $4.1M | $7.0M | −$2.8M |
| Apr 2026 | $4.8M | $7.0M | −$2.3M |
| Mar 2026 | $4.2M | $6.1M | −$1.9M |
| Feb 2026 | $9.6M | $7.1M | $2.5M |
| Jan 2026 | $9.4M | $15.7M | −$6.3M |
| Dec 2025 | $12.7M | $8.3M | $4.4M |
| Nov 2025 | $4.1M | $6.6M | −$2.5M |
| Oct 2025 | $6.5M | $9.5M | −$3.0M |
| Sep 2025 | $3.7M | $7.8M | −$4.1M |
| Aug 2025 | $5.5M | $7.4M | −$1.9M |
| Jul 2025 | $6.7M | $12.8M | −$6.1M |
| Jun 2025 | $5.0M | $6.0M | −$975K |
ETFAX Assets Under Management
Net assets of North Square Tactical Growth Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $616.27M |
| 2026-02-28 | $581.59M |
| 2025-11-30 | $579.03M |
| 2025-08-31 | $561.59M |
| 2025-05-31 | $531.99M |
| 2025-02-28 | $541.72M |
| 2024-11-30 | $557.56M |
| 2024-08-31 | $539.91M |
| 2024-05-31 | $515.43M |
| 2024-02-29 | $519.27M |
| 2023-11-30 | $482.92M |
| 2023-08-31 | $498.29M |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.