ETFRX Performance — North Square Tactical Defensive Fund, Class A
Data updated: 2026-09-25
ETFRX returned −20.12% year to date and −41.00% over one year to May 2026. Over one year the fund trailed its US Multi-Cap Blend category average: $100 grew to $59, against $119 for the category. Volatility over the past 12 months was 8.60% a year. In the 12 months to May 2026 the fund lost a net $8.4M, and assets reached $51.36M.
ETFRX Growth of $100
What $100 invested in North Square Tactical Defensive 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 | ETFRX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $59 | $119 |
| 3 years (Jun 2023 – May 2026) | $16 | $147 |
| 5 years (Jun 2021 – May 2026) | $13 | $136 |
ETFRX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | −20.12% |
| 1 year | −41.00% |
3- and 5-year figures withheld: returns differ from sibling classes.
ETFRX Annual Returns
Calendar-year total returns of North Square Tactical Defensive Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | −20.12% |
| 2025 | −46.69% |
| 2024 | −47.28% |
| 2023 | −41.53% |
| 2022 | −8.25% |
| 2021 (Jun–Dec) | +7.22% |
ETFRX 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 | −3.9% | −5.5% | −9.3% | −0.8% | −2.3% | — | — | — | — | — | — | — |
| 2025 | −4.5% | −6.9% | −7.3% | −10.9% | −1.8% | −2.3% | −4.4% | −3.8% | −2.2% | −3.2% | −8.0% | −5.6% |
| 2024 | −5.7% | −2.1% | −3.4% | −8.6% | −3.2% | −2.9% | −5.0% | −7.4% | −5.9% | −7.6% | −1.0% | −9.0% |
| 2023 | +2.1% | −3.0% | −6.5% | −5.4% | −6.3% | −2.1% | −2.5% | −8.3% | −7.7% | −6.3% | −4.1% | −1.9% |
| 2022 | −4.7% | −0.9% | +1.1% | −1.9% | −0.1% | −3.2% | +3.8% | −2.1% | −0.3% | +0.1% | +1.8% | −2.0% |
| 2021 | — | — | — | — | — | +2.4% | +1.4% | +1.6% | −4.1% | +4.1% | −0.5% | +2.3% |
ETFRX Risk
Risk measures from monthly returns over Jun 2025 – May 2026.
- 1-year volatility (annualised): 8.60%
- Best month: −0.75% (Apr 2026)
- Worst month: −9.28% (Mar 2026)
ETFRX Fund Flows
Monthly money in and out of North Square Tactical Defensive Fund, from SEC Form N-PORT.
- 12-month net flow: −$8.4M
- 12-month gross sales (incl. reinvestments): $2.7M
- Sales ÷ redemptions: 0.24×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $68K | $514K | −$446K |
| Apr 2026 | $120K | $650K | −$530K |
| Mar 2026 | $140K | $4.1M | −$3.9M |
| Feb 2026 | $270K | $437K | −$168K |
| Jan 2026 | $66K | $1.2M | −$1.1M |
| Dec 2025 | $374K | $385K | −$11K |
| Nov 2025 | $205K | $403K | −$198K |
| Oct 2025 | $277K | $669K | −$392K |
| Sep 2025 | $382K | $554K | −$172K |
| Aug 2025 | $179K | $792K | −$614K |
| Jul 2025 | $325K | $356K | −$32K |
| Jun 2025 | $247K | $1.0M | −$785K |
ETFRX Assets Under Management
Net assets of North Square Tactical Defensive Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $51.36M |
| 2026-02-28 | $53.96M |
| 2025-11-30 | $54.27M |
| 2025-08-31 | $52.90M |
| 2025-05-31 | $50.65M |
| 2025-02-28 | $53.76M |
| 2024-11-30 | $57.57M |
| 2024-08-31 | $56.70M |
| 2024-05-31 | $55.73M |
| 2024-02-29 | $56.39M |
| 2023-11-30 | $57.36M |
| 2023-08-31 | $61.86M |
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.