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

ETF · Currency in CAD · Last updated Jun 4, 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.

Looking to diversify beyond PMM.TO? The ETFs below have the lowest correlation with PMM.TO — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from PMM.TO.

Best Diversifiers for PMM.TO

9 ETFs have low correlation with PMM.TO (below 0.3), 4 of which are negatively correlated. The least correlated is Purpose High Interest Savings Fund (PSA.TO) (Money Market) with a 1Y correlation of -0.07, down from 0.06 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
PSA.TO
Purpose High Interest Savings Fund-0.070.010.06
100
Money MarketPMM.TO vs PSA.TO
MNY.TO
Purpose Cash Management Fund-0.060.04—
100
Money MarketPMM.TO vs MNY.TO
PSU-U.TO
Purpose US Cash Fund-0.02-0.040.01
99
Money MarketPMM.TO vs PSU-U.TO
MNU-U.TO
Purpose USD Cash Management ETF-0.020.030.01
99
Ultrashort Bond, Money MarketPMM.TO vs MNU-U.TO
ZMMK.TO
BMO Money Market Fund ETF Series0.03-0.01—
100
Money MarketPMM.TO vs ZMMK.TO
See all 10 diversifiers for PMM.TO

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Diversification Analysis

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