ETFOX vs. MNY.TO

Last updated Apr 2, 2026

Compare and contrast key facts about North Square Tactical Growth Fund (ETFOX) and Purpose Cash Management Fund (MNY.TO).

ETFOX is managed by Stadion Funds. It was launched on Apr 29, 2004. MNY.TO is an actively managed fund by Purpose Investments. It was launched on Sep 14, 2022.

Performance

ETFOX vs. MNY.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in North Square Tactical Growth Fund (ETFOX) and Purpose Cash Management Fund (MNY.TO). The values are adjusted to include any dividend payments, if applicable.

ETFOX vs. MNY.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
ETFOX North Square Tactical Growth Fund	-3.21%	14.69%	15.45%	16.55%	-2.26%
MNY.TO Purpose Cash Management Fund	-0.63%	7.97%	-3.58%	7.42%	-1.37%

Different Trading Currencies

ETFOX is traded in USD, while MNY.TO is traded in CAD. To make them comparable, the MNY.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, ETFOX achieves a -3.21% return, which is significantly lower than MNY.TO's -0.63% return.

ETFOX

• 1D: 2.16%
• 1M: -4.58%
• YTD: -3.21%
• 6M: -2.49%
• 1Y: 13.64%
• 3Y*: 12.48%
• 5Y*: 6.73%
• 10Y*: 8.57%

MNY.TO

• 1D: 0.11%
• 1M: -1.29%
• YTD: -0.63%
• 6M: 1.64%
• 1Y: 5.74%
• 3Y*: 3.12%
• 5Y*: —
• 10Y*: —

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

ETFOX vs. MNY.TO - Expense Ratio Comparison

ETFOX has a 1.30% expense ratio, which is higher than MNY.TO's 0.22% expense ratio.

ETFOX

North Square Tactical Growth Fund

MNY.TO

Purpose Cash Management Fund

Return for Risk

ETFOX vs. MNY.TO — Risk / Return Rank

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

ETFOX

ETFOX Risk / Return Rank: 54
ETFOX Sharpe Ratio Rank: 47
ETFOX Sortino Ratio Rank: 50
ETFOX Omega Ratio Rank: 48
ETFOX Calmar Ratio Rank: 62
ETFOX Martin Ratio Rank: 65

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.

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

This table presents a comparison of risk-adjusted performance metrics for North Square Tactical Growth Fund (ETFOX) 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.

	ETFOX	MNY.TO	Difference
Sharpe ratio Return per unit of total volatility	0.99	1.11	-0.12
Sortino ratio Return per unit of downside risk	1.48	1.83	-0.35
Omega ratio Gain probability vs. loss probability	1.21	1.21	0.00
Calmar ratio Return relative to maximum drawdown	1.55	2.23	-0.68
Martin ratio Return relative to average drawdown	6.53	4.87	+1.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ETFOX vs. MNY.TO - Sharpe Ratio Comparison

The current ETFOX Sharpe Ratio is 0.99, which is comparable to the MNY.TO Sharpe Ratio of 1.11. The chart below compares the historical Sharpe Ratios of ETFOX 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

	ETFOX	MNY.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.99	1.11	-0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.44	+0.04

Correlation

The correlation between ETFOX and MNY.TO is 0.42, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

ETFOX vs. MNY.TO - Dividend Comparison

ETFOX's dividend yield for the trailing twelve months is around 1.34%, less than MNY.TO's 2.67% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ETFOX North Square Tactical Growth Fund	1.34%	1.29%	2.36%	0.98%	7.75%	4.75%	0.02%	4.81%	2.65%	0.00%	0.20%	0.64%
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

ETFOX vs. MNY.TO - Drawdown Comparison

The maximum ETFOX drawdown since its inception was -41.32%, which is greater than MNY.TO's maximum drawdown of -6.22%. Use the drawdown chart below to compare losses from any high point for ETFOX and MNY.TO.

Drawdown Indicators

	ETFOX	MNY.TO	Difference
Max Drawdown Largest peak-to-trough decline	-41.32%	-0.24%	-41.08%
Max Drawdown (1Y) Largest decline over 1 year	-9.13%	-0.04%	-9.09%
Max Drawdown (5Y) Largest decline over 5 years	-17.86%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-18.47%	—	—
Current Drawdown Current decline from peak	-6.17%	0.00%	-6.17%
Average Drawdown Average peak-to-trough decline	-5.47%	0.00%	-5.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.17%	0.00%	+2.17%

Volatility

ETFOX vs. MNY.TO - Volatility Comparison

North Square Tactical Growth Fund (ETFOX) has a higher volatility of 4.54% compared to Purpose Cash Management Fund (MNY.TO) at 1.37%. This indicates that ETFOX'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

	ETFOX	MNY.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.54%	1.37%	+3.17%
Volatility (6M) Calculated over the trailing 6-month period	8.14%	3.35%	+4.79%
Volatility (1Y) Calculated over the trailing 1-year period	14.07%	5.22%	+8.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.46%	5.97%	+6.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.38%	5.97%	+6.41%