PAYF.TO Alternatives & Similar ETFs

Purpose Enhanced Premium Yield Fund (PAYF.TO) belongs to the Derivative Income category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with PAYF.TO. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.

Cheapest Alternatives to PAYF.TO

PAYF.TO charges 0.94% annually. There are 87 ETFs in the Derivative Income category with lower expense ratios, going as low as 0.21%.

Symbol	Name	Expense Ratio	AUM	Inception
QQCI.TO	Invesco NASDAQ 100 Income Advantage ETF	0.21%	63.79M	Aug 2024	PAYF.TO vs QQCI.TO
ECHI.TO	Ninepoint Enhanced Canadian HighShares ETF	0.29%	—	Aug 2025	PAYF.TO vs ECHI.TO
EQLI.TO	Invesco S&P 500 Equal Weight Income Advantage ETF	0.29%	169.56M	Nov 2025	PAYF.TO vs EQLI.TO
JEPI.TO	JPMorgan US Equity Premium Income Active ETF	0.35%	—	Sep 2024	PAYF.TO vs JEPI.TO
JEPQ.TO	JPMorgan Nasdaq Equity Premium Income Active ETF	0.35%	136.22M	Sep 2024	PAYF.TO vs JEPQ.TO

Best Risk-Adjusted Alternatives to PAYF.TO

PAYF.TO has a PortfoliosLab risk / return rank of 30. There are 80 ETFs in the Derivative Income category with higher risk-adjusted ranks, going as high as 98.

Symbol	Name	Risk / Return Rank	AUM	Inception
HLIF.TO	Harvest Canadian Equity Income Leaders ETF Class A	98	186.23M	Jun 2022	PAYF.TO vs HLIF.TO
CBNK.TO	Mulvihill Canadian Bank Enhanced Yield ETF	98	—	Feb 2022	PAYF.TO vs CBNK.TO
BANK.TO	Evolve Canadian Banks and Lifecos Enhanced Yield I...	98	1.31B	Feb 2022	PAYF.TO vs BANK.TO
ZWB.TO	BMO Covered Call Canadian Banks ETF	97	4.90B	Jan 2011	PAYF.TO vs ZWB.TO
BKCL.TO	Global X Enhanced Equal Weight Canadian Banks Cove...	97	201.68M	Jul 2023	PAYF.TO vs BKCL.TO

Top Performing PAYF.TO Alternatives (YTD)

PAYF.TO is at 3.05% YTD. There are 81 ETFs in the Derivative Income category with higher YTD returns, going as high as 43.96%.

Symbol	Name	YTD Return	AUM	Inception
CBNK.TO	Mulvihill Canadian Bank Enhanced Yield ETF	43.96%	—	Feb 2022	PAYF.TO vs CBNK.TO
ENCL.TO	Global X Enhanced Canadian Oil and Gas Equity Cove...	41.62%	286.03M	Oct 2023	PAYF.TO vs ENCL.TO
CNQE.TO	Harvest CNQ Enhanced High Income Shares ETF	38.89%	—	Aug 2025	PAYF.TO vs CNQE.TO
HPF.TO	Harvest Energy Leaders Income ETF Class A CAD Hedg...	37.34%	67.16M	Oct 2014	PAYF.TO vs HPF.TO
ENCC.TO	Global X Canadian Oil and Gas Equity Covered Call ...	32.99%	754.66M	Apr 2011	PAYF.TO vs ENCC.TO

Lowest Volatility Alternatives to PAYF.TO

PAYF.TO has 7.02% 1-year volatility. There are 7 ETFs in the Derivative Income category with lower 1-year volatility, going as low as 1.77%.

Symbol	Name	Volatility 1Y	AUM	Inception
HBIL.TO	Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedg...	1.77%	225.10M	Sep 2024	PAYF.TO vs HBIL.TO
HBIL-U.TO	Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhed...	1.92%	160.53M	Sep 2024	PAYF.TO vs HBIL-U.TO
PYF.TO	Purpose Premium Yield Fund Series ETF	3.28%	684.20M	Nov 2018	PAYF.TO vs PYF.TO
HPYM.TO	Harvest Premium Yield 7-10 Year Treasury ETF - Cla...	4.72%	258.82M	Jan 2024	PAYF.TO vs HPYM.TO
PINC.TO	Purpose Multi-Asset Income Fund	6.35%	109.90M	Apr 2018	PAYF.TO vs PINC.TO

Lowest Drawdown Alternatives to PAYF.TO

PAYF.TO has a 1-year max drawdown of -5.73%. There are 16 ETFs in the Derivative Income category with shallower 1-year drawdowns, going as shallow as -0.95%.

Symbol	Name	Max Drawdown 1Y	AUM	Inception
HBIL.TO	Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedg...	-0.95%	225.10M	Sep 2024	PAYF.TO vs HBIL.TO
HBIL-U.TO	Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhed...	-1.13%	160.53M	Sep 2024	PAYF.TO vs HBIL-U.TO
PYF.TO	Purpose Premium Yield Fund Series ETF	-2.11%	684.20M	Nov 2018	PAYF.TO vs PYF.TO
HLIF.TO	Harvest Canadian Equity Income Leaders ETF Class A	-3.09%	186.23M	Jun 2022	PAYF.TO vs HLIF.TO
PINC.TO	Purpose Multi-Asset Income Fund	-3.59%	109.90M	Apr 2018	PAYF.TO vs PINC.TO

Other ETFs from Purpose Investments Inc.

The 10 most viewed Purpose Investments Inc. ETFs shown here include BND.TO, SYLD.TO, PDF.TO and span 17 categories. AUM among these funds goes as high as $3B.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
BND.TO	Purpose Global Bond Fund	Global Bonds	41	0.04%	2.50B	Oct 2015	PAYF.TO vs BND.TO
SYLD.TO	Purpose Strategic Yield Fund	High Yield Bonds, Corporate Bonds	96	3.38%	526.10M	Apr 2018	PAYF.TO vs SYLD.TO
PDF.TO	Purpose Core Dividend Fund	Dividend, Canada Equities, Actively Managed	97	20.07%	473.40M	Sep 2013	PAYF.TO vs PDF.TO
BTCY.TO	Purpose Bitcoin Yield ETF	Cryptocurrency, Derivative Income	2	-31.07%	121.00M	Dec 2021	PAYF.TO vs BTCY.TO
CROP.TO	Purpose Credit Opportunities Fund	Nontraditional Bonds, Multisector Bonds	96	3.58%	—	Sep 2021	PAYF.TO vs CROP.TO
PRA.TO	Purpose Diversified Real Asset Fund	Diversified Portfolio, Global Allocation, Natural Resources, Actively Managed	95	26.15%	331.30M	Sep 2013	PAYF.TO vs PRA.TO
PID.TO	Purpose International Dividend Fund	Foreign Large Cap Equities, Dividend, Actively Managed	81	14.90%	312.20M	Apr 2015	PAYF.TO vs PID.TO
IGB.TO	Purpose Global Bond Class	Global Bonds, Investment Grade Bonds, Actively Managed	25	-0.32%	1.20B	Dec 2013	PAYF.TO vs IGB.TO
PBI.TO	Purpose Best Ideas Fund	Large Cap Blend Equities, Equal Weight	24	3.12%	70.80M	Apr 2014	PAYF.TO vs PBI.TO
PBD.TO	Purpose Total Return Bond Fund	Multisector Bonds, Corporate Bonds, High Yield Bonds, Actively Managed	22	0.08%	30.90M	Sep 2013	PAYF.TO vs PBD.TO

Often Compared With PAYF.TO

Investors most often compare PAYF.TO with ZWU.TO, ZUQ.TO, VOO. These 10 comparison targets span 16 categories, based on PortfoliosLab usage data.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
ZWU.TO	BMO Covered Call Utilities ETF	Utilities Equities, Derivative Income	82	13.60%	2.24B	Oct 2011	PAYF.TO vs ZWU.TO
ZUQ.TO	BMO MSCI USA High Quality Index ETF	Quality Factor, Large Cap Blend Equities	53	11.62%	1.29B	Nov 2014	PAYF.TO vs ZUQ.TO
VOO	Vanguard S&P 500 ETF	S&P 500	61	8.95%	1.70T	Sep 2010	PAYF.TO vs VOO
VGG.TO	Vanguard U.S. Dividend Appreciation Index ETF	Dividend, Large Cap Blend Equities	80	11.93%	2.57B	Aug 2013	PAYF.TO vs VGG.TO
ZWC.TO	BMO CA High Dividend Covered Call ETF	Derivative Income	96	15.53%	2.45B	Feb 2017	PAYF.TO vs ZWC.TO
VFV.TO	Vanguard S&P 500 Index ETF	S&P 500	74	11.69%	34.09B	Nov 2012	PAYF.TO vs VFV.TO
PMM.TO	Purpose Multi-Strategy Market Neutral Fund	Equity Market Neutral, Multistrategy, Actively Managed	77	6.33%	11.00M	Oct 2014	PAYF.TO vs PMM.TO
VAB.TO	Vanguard Canadian Aggregate Bond Index ETF	Total Bond Market, Canadian Government Bonds, Corporate Bonds	33	0.79%	7.52B	Nov 2011	PAYF.TO vs VAB.TO
HBNK.TO	Global X Equal Weight Banks Index ETF	Financials Equities, Equal Weight	98	32.24%	—	Jul 2023	PAYF.TO vs HBNK.TO
CNCC.TO	Global X Canadian S&P/TSX 60 Covered Call ETF	Derivative Income, Options Trading, Canada Equities, Actively Managed	93	11.10%	184.38M	Mar 2011	PAYF.TO vs CNCC.TO

Compare PAYF.TO with Any Fund or Stock

Compare PAYF.TO with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.

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Diversifiers

Pair PAYF.TO with funds that move differently

Purpose Enhanced Premium Yield Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to PAYF.TO.

Explore PAYF.TO Diversifiers

Purpose Enhanced Premium Yield Fund (PAYF.TO) Alternatives