CROP.TO vs. RATE.TO

Last updated Jul 25, 2026

CROP.TO (Purpose Credit Opportunities Fund) and RATE.TO (Arrow EC Income Advantage Alternative Fund) are both exchange-traded funds - CROP.TO is a Nontraditional Bonds fund actively managed by Purpose Investments Inc., while RATE.TO is a Investment Grade Bonds fund actively managed by Arrow Capital Management Inc.. Both are actively managed. Over the past 3 years, CROP.TO returned 9.57%/yr vs 5.43%/yr for RATE.TO. At a 0.08 correlation, their price movements are largely independent.

Performance

CROP.TO vs. RATE.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Purpose Credit Opportunities Fund (CROP.TO) and Arrow EC Income Advantage Alternative Fund (RATE.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CROP.TO achieves a 3.58% return, which is significantly higher than RATE.TO's 1.47% return.

CROP.TO

• 1D: 0.05%
• 1M: 0.30%
• 6M: 3.10%
• YTD: 3.58%
• 1Y: 8.55%
• 3Y*: 9.57%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.01%

RATE.TO

• 1D: 0.10%
• 1M: 0.10%
• 6M: 1.47%
• YTD: 1.47%
• 1Y: 3.09%
• 3Y*: 5.43%
• 5Y*: 4.76%
• 10Y*: —
• ALL TIME*: 4.10%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CROP.TO Purpose Credit Opportunities Fund	CA$135.05K	CA$183.63K	CA$411.80K
RATE.TO Arrow EC Income Advantage Alternative Fund	CA$60.20K	CA$58.91K	CA$69.40K

CROP.TO vs. RATE.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CROP.TO Purpose Credit Opportunities Fund	3.58%	8.10%	12.74%	6.36%	-5.82%	0.07%
RATE.TO Arrow EC Income Advantage Alternative Fund	1.47%	4.60%	5.59%	10.12%	2.34%	0.11%

Correlation

The correlation between CROP.TO and RATE.TO is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.08
Correlation (All Time) Calculated using the full available price history since Sep 29, 2021	0.08

Return for Risk

CROP.TO vs. RATE.TO — Risk / Return Rank

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

CROP.TO

CROP.TO Risk / Return Rank: 96
CROP.TO Sharpe Ratio Rank: 95
CROP.TO Sortino Ratio Rank: 95
CROP.TO Omega Ratio Rank: 94
CROP.TO Calmar Ratio Rank: 98
CROP.TO Martin Ratio Rank: 96

RATE.TO

RATE.TO Risk / Return Rank: 72
RATE.TO Sharpe Ratio Rank: 59
RATE.TO Sortino Ratio Rank: 63
RATE.TO Omega Ratio Rank: 62
RATE.TO Calmar Ratio Rank: 89
RATE.TO Martin Ratio Rank: 87

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.

CROP.TO vs. RATE.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Purpose Credit Opportunities Fund (CROP.TO) and Arrow EC Income Advantage Alternative Fund (RATE.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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	CROP.TO	RATE.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.73	1.39	+1.34
Sortino ratio: Return per unit of downside risk	4.10	2.10	+1.99
Omega ratio: Gain probability vs. loss probability	1.52	1.27	+0.26
Calmar ratio: Return relative to maximum drawdown	9.40	3.87	+5.53
Martin ratio: Return relative to average drawdown	25.52	12.89	+12.64

CROP.TO vs. RATE.TO - Sharpe Ratio Comparison

The current CROP.TO Sharpe Ratio is 2.73, which is higher than the RATE.TO Sharpe Ratio of 1.39. The chart below compares the historical Sharpe Ratios of CROP.TO and RATE.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CROP.TO vs. RATE.TO - Drawdown Comparison

The maximum CROP.TO drawdown since its inception was -8.68%, smaller than the maximum RATE.TO drawdown of -14.01%. Use the drawdown chart below to compare losses from any high point for CROP.TO and RATE.TO.

Drawdown Indicators

	CROP.TO	RATE.TO	Difference
Max Drawdown Largest peak-to-trough decline	-8.68%	-14.01%	+5.33%
Max Drawdown (1Y) Largest decline over 1 year	-0.91%	-0.80%	-0.11%
Max Drawdown (3Y) Largest decline over 3 years	-4.10%	-2.78%	-1.32%
Max Drawdown (5Y) Largest decline over 5 years	—	-3.38%	—
Current Drawdown Current decline from peak	-0.21%	-0.14%	-0.07%
Average Drawdown Average peak-to-trough decline	-2.42%	-0.84%	-1.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.34%	0.24%	+0.10%

Volatility

CROP.TO vs. RATE.TO - Volatility Comparison

The current volatility for Purpose Credit Opportunities Fund (CROP.TO) is 0.61%, while Arrow EC Income Advantage Alternative Fund (RATE.TO) has a volatility of 0.67%. This indicates that CROP.TO experiences smaller price fluctuations and is considered to be less risky than RATE.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CROP.TO	RATE.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.61%	0.67%	-0.06%
Volatility (6M) Calculated over the trailing 6-month period	1.85%	1.56%	+0.29%
Volatility (1Y) Calculated over the trailing 1-year period	3.16%	2.24%	+0.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.41%	4.07%	+0.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.41%	5.73%	-1.32%

Dividends

CROP.TO vs. RATE.TO - Dividend Comparison

CROP.TO's dividend yield for the trailing twelve months is around 5.44%, more than RATE.TO's 4.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
CROP.TO Purpose Credit Opportunities Fund	5.44%	5.48%	5.61%	5.96%	5.97%	1.33%	0.00%	0.00%	0.00%
RATE.TO Arrow EC Income Advantage Alternative Fund	4.64%	4.60%	4.69%	4.74%	4.11%	3.52%	2.98%	2.99%	2.32%

Frequently Asked Questions

Can I hold both CROP.TO and RATE.TO in my portfolio?

CROP.TO and RATE.TO have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between CROP.TO and RATE.TO?

CROP.TO is categorized as Nontraditional Bonds, while RATE.TO is Investment Grade Bonds. They also come from different issuers: Purpose Investments Inc. and Arrow Capital Management Inc..