CMR.TO vs. MNY.TO

Last updated Apr 1, 2026

Compare and contrast key facts about iShares Premium Money Market ETF (CMR.TO) and Purpose Cash Management Fund (MNY.TO).

CMR.TO and MNY.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CMR.TO is an actively managed fund by iShares. It was launched on Feb 19, 2008. MNY.TO is an actively managed fund by Purpose Investments. It was launched on Sep 14, 2022.

Performance

CMR.TO vs. MNY.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Premium Money Market ETF (CMR.TO) and Purpose Cash Management Fund (MNY.TO). The values are adjusted to include any dividend payments, if applicable.

CMR.TO vs. MNY.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
CMR.TO iShares Premium Money Market ETF	0.58%	2.68%	4.70%	4.70%	1.09%
MNY.TO Purpose Cash Management Fund	0.53%	3.03%	4.69%	5.03%	1.54%

Returns By Period

In the year-to-date period, CMR.TO achieves a 0.58% return, which is significantly higher than MNY.TO's 0.53% return.

CMR.TO

• 1D: 0.03%
• 1M: 0.20%
• YTD: 0.58%
• 6M: 1.11%
• 1Y: 2.49%
• 3Y*: 3.86%
• 5Y*: 2.86%
• 10Y*: 1.86%

MNY.TO

• 1D: 0.00%
• 1M: 0.21%
• YTD: 0.53%
• 6M: 1.27%
• 1Y: 2.70%
• 3Y*: 4.05%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CMR.TO vs. MNY.TO - Expense Ratio Comparison

CMR.TO has a 0.14% expense ratio, which is lower than MNY.TO's 0.22% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

MNY.TO

Purpose Cash Management Fund

CMR.TO

iShares Premium Money Market ETF

Return for Risk

CMR.TO vs. MNY.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CMR.TO

CMR.TO Risk / Return Rank: 100
CMR.TO Sharpe Ratio Rank: 100
CMR.TO Sortino Ratio Rank: 100
CMR.TO Omega Ratio Rank: 100
CMR.TO Calmar Ratio Rank: 99
CMR.TO Martin Ratio Rank: 99

MNY.TO

MNY.TO Risk / Return Rank: 100
MNY.TO Sharpe Ratio Rank: 100
MNY.TO Sortino Ratio Rank: 100
MNY.TO Omega Ratio Rank: 100
MNY.TO Calmar Ratio Rank: 100
MNY.TO Martin Ratio Rank: 100

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CMR.TO vs. MNY.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Premium Money Market ETF (CMR.TO) and Purpose Cash Management Fund (MNY.TO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	CMR.TO	MNY.TO	Difference
Sharpe ratio Return per unit of total volatility	10.83	15.40	-4.57
Sortino ratio Return per unit of downside risk	21.84	52.97	-31.14
Omega ratio Gain probability vs. loss probability	9.39	20.07	-10.69
Calmar ratio Return relative to maximum drawdown	26.62	67.62	-41.00
Martin ratio Return relative to average drawdown	195.48	621.44	-425.96
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CMR.TO vs. MNY.TO - Sharpe Ratio Comparison

The current CMR.TO Sharpe Ratio is 10.83, which is comparable to the MNY.TO Sharpe Ratio of 15.40. The chart below compares the historical Sharpe Ratios of CMR.TO and MNY.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CMR.TO	MNY.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	10.83	15.40	-4.57
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	10.33	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	6.88	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	3.81	11.03	-7.22

Correlation

The correlation between CMR.TO and MNY.TO is 0.14, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

CMR.TO vs. MNY.TO - Dividend Comparison

CMR.TO's dividend yield for the trailing twelve months is around 2.57%, less than MNY.TO's 2.67% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CMR.TO iShares Premium Money Market ETF	2.57%	2.81%	4.56%	4.64%	1.62%	0.00%	0.47%	1.60%	1.33%	0.61%	0.43%	0.48%
MNY.TO Purpose Cash Management Fund	2.67%	2.93%	4.71%	4.85%	1.47%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

CMR.TO vs. MNY.TO - Drawdown Comparison

The maximum CMR.TO drawdown since its inception was -0.52%, which is greater than MNY.TO's maximum drawdown of -0.24%. Use the drawdown chart below to compare losses from any high point for CMR.TO and MNY.TO.

Drawdown Indicators

	CMR.TO	MNY.TO	Difference
Max Drawdown Largest peak-to-trough decline	-0.52%	-0.24%	-0.28%
Max Drawdown (1Y) Largest decline over 1 year	-0.09%	-0.04%	-0.05%
Max Drawdown (5Y) Largest decline over 5 years	-0.09%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-0.14%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.01%	0.00%	-0.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.01%	0.00%	+0.01%

Volatility

CMR.TO vs. MNY.TO - Volatility Comparison

iShares Premium Money Market ETF (CMR.TO) has a higher volatility of 0.08% compared to Purpose Cash Management Fund (MNY.TO) at 0.03%. This indicates that CMR.TO's price experiences larger fluctuations and is considered to be riskier than MNY.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CMR.TO	MNY.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.08%	0.03%	+0.05%
Volatility (6M) Calculated over the trailing 6-month period	0.19%	0.13%	+0.06%
Volatility (1Y) Calculated over the trailing 1-year period	0.23%	0.18%	+0.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.28%	0.38%	-0.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.27%	0.38%	-0.11%