HHIS.TO vs. PFMN.TO
HHIS.TO (Harvest Diversified High Income Shares ETF) and PFMN.TO (PICTON Market Neutral Equity Alternative Fund) are both exchange-traded funds - HHIS.TO is a Derivative Income fund actively managed by Harvest, while PFMN.TO is a Long-Short fund actively managed by Picton Mahoney. Both are actively managed. Over the past year, HHIS.TO returned 27.04% vs 6.52% for PFMN.TO. At a 0.24 correlation, their price movements are largely independent. HHIS.TO charges 0.00%/yr vs 4.27%/yr for PFMN.TO.
Performance
HHIS.TO vs. PFMN.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, HHIS.TO achieves a 4.23% return, which is significantly higher than PFMN.TO's 2.80% return.
HHIS.TO
- 1D
- -0.18%
- 1M
- -2.83%
- YTD
- 4.23%
- 6M
- 3.47%
- 1Y
- 27.04%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PFMN.TO
- 1D
- 0.06%
- 1M
- 1.91%
- YTD
- 2.80%
- 6M
- 3.23%
- 1Y
- 6.52%
- 3Y*
- 7.90%
- 5Y*
- 6.52%
- 10Y*
- —
HHIS.TO vs. PFMN.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HHIS.TO Harvest Diversified High Income Shares ETF | 4.23% | 24.70% |
PFMN.TO PICTON Market Neutral Equity Alternative Fund | 2.80% | 4.02% |
Correlation
The correlation between HHIS.TO and PFMN.TO is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Jan 16, 2025 | 0.24 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HHIS.TO vs. PFMN.TO — Risk / Return Rank
HHIS.TO
PFMN.TO
HHIS.TO vs. PFMN.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Harvest Diversified High Income Shares ETF (HHIS.TO) and PICTON Market Neutral Equity Alternative Fund (PFMN.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.
| HHIS.TO | PFMN.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.35 | ||
| Sortino ratioReturn per unit of downside risk | -0.61 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.26 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.08 | 1.95 | -0.87 |
| Martin ratioReturn relative to average drawdown | 2.68 | 6.75 | -4.07 |
Loading charts...
Drawdowns
HHIS.TO vs. PFMN.TO - Drawdown Comparison
The maximum HHIS.TO drawdown since its inception was -31.83%, which is greater than PFMN.TO's maximum drawdown of -13.04%. Use the drawdown chart below to compare losses from any high point for HHIS.TO and PFMN.TO.
Loading charts...
Drawdown Indicators
| HHIS.TO | PFMN.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.83% | -13.04% | -18.79% |
Max Drawdown (1Y)Largest decline over 1 year | -24.43% | -3.49% | -20.94% |
Max Drawdown (3Y)Largest decline over 3 years | — | -3.85% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -4.24% | — |
Current DrawdownCurrent decline from peak | -7.47% | 0.00% | -7.47% |
Average DrawdownAverage peak-to-trough decline | -8.64% | -1.18% | -7.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.86% | 1.01% | +8.85% |
Volatility
HHIS.TO vs. PFMN.TO - Volatility Comparison
Harvest Diversified High Income Shares ETF (HHIS.TO) has a higher volatility of 8.04% compared to PICTON Market Neutral Equity Alternative Fund (PFMN.TO) at 1.62%. This indicates that HHIS.TO's price experiences larger fluctuations and is considered to be riskier than PFMN.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| HHIS.TO | PFMN.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.04% | 1.62% | +6.42% |
Volatility (6M)Calculated over the trailing 6-month period | 18.09% | 3.59% | +14.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.84% | 4.67% | +19.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.81% | 7.76% | +26.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.81% | 9.76% | +24.05% |
HHIS.TO vs. PFMN.TO - Expense Ratio Comparison
HHIS.TO has a 0.00% expense ratio, which is lower than PFMN.TO's 4.27% expense ratio.
Dividends
HHIS.TO vs. PFMN.TO - Dividend Comparison
HHIS.TO's dividend yield for the trailing twelve months is around 27.93%, more than PFMN.TO's 0.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
HHIS.TO Harvest Diversified High Income Shares ETF | 27.93% | 22.88% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PFMN.TO PICTON Market Neutral Equity Alternative Fund | 0.77% | 0.80% | 0.00% | 1.28% | 0.00% | 0.00% | 0.00% | 0.09% |
Frequently Asked Questions
HHIS.TO and PFMN.TO have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HHIS.TO is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HHIS.TO is cheaper with a 0.00% expense ratio, compared with 4.27% for PFMN.TO.
HHIS.TO is categorized as Derivative Income, while PFMN.TO is Long-Short. They also come from different issuers: Harvest and Picton Mahoney. Their fees differ too: 0.00% for HHIS.TO and 4.27% for PFMN.TO.
Find the right allocation for HHIS.TO and PFMN.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer