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Purpose Multi-Strategy Market Neutral Fund (PMM.TO) Alternatives

ETF · Currency in CAD · Last updated Jun 24, 2026

The Purpose Multi-Strategy Market Neutral Fund (PMM) is an actively managed Canadian ETF that seeks to generate positive absolute returns through a multi-asset long/short hedge fund strategy. The fund employs market-neutral approaches across equities, currencies, and commodities, using derivatives to invest in energy commodities, precious and base metals, agricultural commodities, and developed and emerging markets currencies. Managed by Purpose Investments Inc.

Purpose Multi-Strategy Market Neutral Fund (PMM.TO) belongs to the Long-Short category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with PMM.TO. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.

Other ETFs from Purpose Investments

The 10 most viewed Purpose Investments ETFs shown here include KILO.TO, BTCC.TO, PSA.TO and span 7 categories. AUM among these funds goes as high as $4B.

SymbolNameCategoryRisk / Return RankYTD ReturnAUMInception
KILO.TO
Purpose Gold Bullion FundGold, Precious Metals
20
-5.68%
1.10BOct 2018PMM.TO vs KILO.TO
BTCC.TO
Purpose Bitcoin CAD ETF Currency Hedged UnitsCryptocurrency
2
-30.32%
1.70BFeb 2021PMM.TO vs BTCC.TO
PSA.TO
Purpose High Interest Savings FundMoney Market
99
1.01%
4.10BOct 2013PMM.TO vs PSA.TO
MNY.TO
Purpose Cash Management FundMoney Market
100
1.08%
2.90BSep 2022PMM.TO vs MNY.TO
YTSL.NEO
Tesla (TSLA) Yield Shares Purpose ETFDerivative Income
22
-15.72%
419.10MDec 2022PMM.TO vs YTSL.NEO
SBT.TO
Purpose Silver Bullion FundSilver, Precious Metals
30
-15.10%
155.00MMay 2016PMM.TO vs SBT.TO
PDIV.TO
Purpose Enhanced Dividend Fund ETFDividend
87
8.23%
223.90MJan 2018PMM.TO vs PDIV.TO
YNVD.NEO
NVIDIA (NVDA) Yield Shares Purpose ETFDerivative Income
42
8.49%
206.50MJan 2024PMM.TO vs YNVD.NEO
BTCY.TO
Purpose Bitcoin Yield ETF - ETF Units
2
-33.54%
116.50MDec 2021PMM.TO vs BTCY.TO
KILO-B.TO
Purpose Gold Bullion Fund ETF Non-Currency HedgedGold, Precious Metals
28
-1.48%
—Oct 2018PMM.TO vs KILO-B.TO

Often Compared With PMM.TO

Investors most often compare PMM.TO with QLEIX, IS.TO, BRKY.NEO. These 19 comparison targets span 9 categories, based on PortfoliosLab usage data.

SymbolNameCategoryRisk / Return RankYTD ReturnAUMInception
QLEIX
AQR Long-Short Equity FundLong-Short
57
-0.52%
—Jul 2013PMM.TO vs QLEIX
IS.TO
Infrastructure Dividend Split Corp
96
25.94%
——PMM.TO vs IS.TO
BRKY.NEO
Berkshire Hathaway Yield Shares Purpose ETFLarge Cap Blend Equities
8
-2.85%
53.40MDec 2022PMM.TO vs BRKY.NEO
ZMMK.TO
BMO Money Market Fund ETF SeriesMoney Market
99
1.09%
5.68BNov 2021PMM.TO vs ZMMK.TO
^GSPC
S&P 500 Index
61
7.60%
——PMM.TO vs ^GSPC
YCST.NEO
Costco (COST) Yield Shares Purpose ETFDerivative Income
7
12.50%
—Feb 2025PMM.TO vs YCST.NEO
YAVG.NEO
Broadcom (AVGO) Yield Shares Purpose ETFDerivative Income, Semiconductors
58
28.52%
—Feb 2025PMM.TO vs YAVG.NEO
SOLL.TO
Purpose Solana ETF Currency Hedged UnitsCryptocurrency
4
-45.24%
—Apr 2025PMM.TO vs SOLL.TO
ZLB.TO
BMO Low Volatility Canadian Equity ETFCanada Equities
45
6.82%
6.18BOct 2011PMM.TO vs ZLB.TO
PAYF.TO
Purpose Enhanced Premium Yield Fund
28
2.00%
82.20M—PMM.TO vs PAYF.TO
MNU-U.TO
Purpose USD Cash Management ETFUltrashort Bond, Money Market
100
1.74%
—Apr 2023PMM.TO vs MNU-U.TO
BTCC-B.TO
Purpose Bitcoin ETF Non-Currency Hedged UnitsCryptocurrency
3
-26.24%
—Feb 2021PMM.TO vs BTCC-B.TO
PSU-U.TO
Purpose US Cash FundMoney Market
100
1.64%
943.00Feb 2016PMM.TO vs PSU-U.TO
ETHY.TO
Purpose Ether Yield ETF - ETF UnitsCryptocurrency
5
-52.02%
73.40MDec 2021PMM.TO vs ETHY.TO
PRA.TO
Purpose Diversified Real Asset Fund
88
20.61%
313.20M—PMM.TO vs PRA.TO
BTCC-U.TO
Purpose Bitcoin ETF Non-Currency Hedged UnitsCryptocurrency
2
-29.01%
—Feb 2021PMM.TO vs BTCC-U.TO
ETHH.TO
Purpose Ether ETFCryptocurrency
6
-45.58%
—Oct 2021PMM.TO vs ETHH.TO
PYF.TO
Purpose Premium Yield Fund Series ETFDiversified Portfolio
27
1.53%
693.10MNov 2018PMM.TO vs PYF.TO
YAMZ.NEO
Amazon (AMZN) Yield Shares Purpose ETFDerivative Income
14
-3.61%
106.10MDec 2022PMM.TO vs YAMZ.NEO

Compare PMM.TO with Any Fund or Stock

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

 

Diversifiers

Pair PMM.TO with funds that move differently

Purpose Multi-Strategy Market Neutral Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to PMM.TO.

Explore PMM.TO Diversifiers