ORSIX Fees and Costs — North Square Dynamic Small Cap Fund, Class I
Data updated: 2026-09-25
The net expense ratio is 0.99%: a 0.90% management fee plus 0.24% other expenses, less a 0.15% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $676K in broker commissions, 0.1088% of average net assets, and portfolio turnover was 216%.
ORSIX Fees and Expenses
Annual operating expenses and sales charges of ORSIX. Prospectus, as of September 25, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.90% |
| 12b-1 fee | — |
| Other expenses | 0.24% |
| Gross expense ratio | 1.14% |
| Fee waiver | −0.15% |
| Net expense ratio | 0.99% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
ORSIX Costs Over Time
On $10,000 invested in ORSIX, assuming 5% a year before costs, total costs come to $686 over 5 years, cutting the return by 1.15% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.99%) | $104 | $324 | $561 |
| Trading costs (broker commissions) | $11 | $36 | $62 |
| Lost growth on money paid in costs | $0 | $18 | $63 |
| Total costs | $115 | $377 | $686 |
| Value after costs | $10,385 | $11,199 | $12,077 |
| Impact on return, per year | 1.15% | 1.15% | 1.15% |
ORSIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.1088%
- Total broker commissions: $676K
- Bought from dealers (principal trades, not a cost): $1.1M
- Portfolio turnover (prospectus): 216%
- Securities lending: none during the year
ORSIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JONES TRADING | $164K | 24.23% |
| VIRTU AMERICAS LLC | $109K | 16.12% |
| PENSERRA SECURITIES | $90K | 13.37% |
| INSTINET LLC | $84K | 12.37% |
| GOLDMAN SACHS & CO. | $66K | 9.82% |
| BOFA SECURITIES INC | $59K | 8.65% |
| BANK OF AMERICA, N.A. | $55K | 8.15% |
| UBS SECURITIES LLC | $48K | 7.04% |
| J.P. MORGAN SECURITIES LLC | $1K | 0.17% |
| MORGAN STANLEY AND CO LLC | $581 | 0.09% |
ORSIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| PENSERRA SECURITIES | $225 | 90.50% |
| US BANCORP INVESTMENTS INC | $24 | 9.50% |
North Square Dynamic Small Cap Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| ORSIX | Class I | 0.99% | none |
| ORSAX | Class A | 1.24% | 5.75% |
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.