North Square Tactical Defensive I (ETFWX)

Fund Assets	54.70M
Expense Ratio	1.795%
Min. Investment	$1,000
Turnover	225.00%
Dividend (ttm)	0.13
Dividend Yield	0.63%
Dividend Growth	-34.84%
Payout Frequency	n/a
Ex-Dividend Date	Dec 19, 2025

Previous Close	21.04
YTD Return	6.91%
1-Year Return	7.80%
5-Year Return	28.32%
52-Week Low	19.08
52-Week High	21.50
Beta (5Y)	0.55
Holdings	6
Inception Date	May 28, 2010

About ETFWX

North Square Tactical Defensive Fund Class I is a tactical allocation mutual fund designed to achieve capital appreciation while reducing the risk of substantial losses. The fund primarily invests in a mix of actively managed and index-based exchange-traded funds (ETFs), mutual funds, and other investment vehicles, along with cash and short-term, highly liquid instruments such as U.S. government obligations and money market securities. Its strategy is grounded in a dual approach: identifying cyclical and short-term market trends to enable dynamic shifts between growth-oriented and defensive positions. This allows the fund to be fully invested during favorable market conditions and to shift holdings toward defensive assets or cash during downturns, aiming to temper volatility and protect capital. The fund typically maintains a concentrated portfolio, holding a small number of selected ETFs, and utilizes proprietary technical and risk-adjusted evaluation tools to guide allocation decisions. North Square Tactical Defensive Fund Class I plays a distinctive role for investors seeking a disciplined, rules-based approach to equity market participation, with flexibility to adapt to rapidly changing market environments.

• Fund Family: North Square
• Category: Tactical Allocation
• Performance Rating: Average
• Risk Rating: Average
• Stock Exchange: Nasdaq
• Ticker Symbol: ETFWX
• Share Class: Class I
• Index: Index is not available on Lipper Database

Performance

ETFWX had a total return of 7.80% in the past year, including dividends. Since the fund's inception, the average annual return has been 5.55%.

Other Share Classes

These are alternative share classes of the same fund, from the same provider.

Symbol	Share Class	Expense Ratio
ETFRX	Class A	2.04%
ETFZX	Class C	2.79%

Top Holdings

Name	Symbol	Weight
State Street SPDR Portfolio S&P 500 ETF	SPYM	29.62%
State Street® SPDR® S&P 500® ETF	n/a	26.02%
First American Treasury Obligs X	FXFXX	19.77%
State Street SPDR Portfolio Developed World ex-US ETF	SPDW	15.87%
State Street SPDR Portfolio Emerging Markets ETF	SPEM	5.30%
State Street SPDR Portfolio S&P 600 Small Cap ETF	SPSM	3.42%

Dividend History

Ex-Dividend	Amount	Pay Date
Dec 19, 2025	$0.1326	Dec 19, 2025
Dec 20, 2024	$0.2035	Dec 20, 2024
Jun 28, 2019	$0.05704	Jun 28, 2019
Dec 28, 2017	$0.27811	Dec 28, 2017
Sep 29, 2017	$0.03001	Sep 29, 2017
Dec 30, 2015	$0.3243	Dec 30, 2016

Data Sources: Tiingo, Twelve Data, and more

Historical data is provided by Tiingo. Delayed stock pricing data is provided by Twelve Data. Several fund data points are also provided by Finnhub.

Last checked:

Oct 16, 2026

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