IGB.TO vs. PAYF.TO
IGB.TO (Purpose Global Bond Class) and PAYF.TO (Purpose Enhanced Premium Yield Fund) are both exchange-traded funds - IGB.TO is a Global Bonds fund actively managed by Purpose Investments Inc., while PAYF.TO is a Derivative Income fund actively managed by Purpose Investments Inc.. Both are actively managed. Over the past 5 years, IGB.TO returned 2.38%/yr vs 7.55%/yr for PAYF.TO. At a 0.15 correlation, their price movements are largely independent. IGB.TO charges 0.55%/yr vs 0.94%/yr for PAYF.TO.
Performance
IGB.TO vs. PAYF.TO - Performance Comparison
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Returns By Period
In the year-to-date period, IGB.TO achieves a -0.32% return, which is significantly lower than PAYF.TO's 3.05% return.
IGB.TO
- 1D
- 0.00%
- 1M
- -1.48%
- 6M
- -0.65%
- YTD
- -0.32%
- 1Y
- 1.77%
- 3Y*
- 5.79%
- 5Y*
- 2.38%
- 10Y*
- —
- ALL TIME*
- 2.74%
PAYF.TO
- 1D
- 0.27%
- 1M
- 1.03%
- 6M
- 3.10%
- YTD
- 3.05%
- 1Y
- 4.97%
- 3Y*
- 9.76%
- 5Y*
- 7.55%
- 10Y*
- —
- ALL TIME*
- 7.21%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$95.58K | CA$158.59K | CA$295.38K | |
| CA$14.58K | CA$14.42K | CA$25.69K |
IGB.TO vs. PAYF.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IGB.TO Purpose Global Bond Class | -0.32% | 6.05% | 7.47% | 7.40% | -7.68% | 2.50% | 6.12% | 0.99% |
PAYF.TO Purpose Enhanced Premium Yield Fund | 3.05% | 9.96% | 11.58% | 13.46% | -3.26% | 8.85% | 2.97% | 5.92% |
Correlation
The correlation between IGB.TO and PAYF.TO is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since May 24, 2019 | 0.15 |
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Return for Risk
IGB.TO vs. PAYF.TO — Risk / Return Rank
IGB.TO
PAYF.TO
IGB.TO vs. PAYF.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Purpose Global Bond Class (IGB.TO) and Purpose Enhanced Premium Yield Fund (PAYF.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.
| IGB.TO | PAYF.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.14 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.62 | 0.87 | -0.25 |
| Martin ratioReturn relative to average drawdown | 2.16 | 3.13 | -0.97 |
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Drawdowns
IGB.TO vs. PAYF.TO - Drawdown Comparison
The maximum IGB.TO drawdown since its inception was -16.40%, roughly equal to the maximum PAYF.TO drawdown of -17.09%. Use the drawdown chart below to compare losses from any high point for IGB.TO and PAYF.TO.
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Drawdown Indicators
| IGB.TO | PAYF.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.40% | -17.09% | +0.69% |
Max Drawdown (1Y)Largest decline over 1 year | -2.86% | -5.73% | +2.87% |
Max Drawdown (3Y)Largest decline over 3 years | -4.28% | -11.66% | +7.38% |
Max Drawdown (5Y)Largest decline over 5 years | -12.34% | -11.66% | -0.68% |
Current DrawdownCurrent decline from peak | -1.60% | -0.91% | -0.69% |
Average DrawdownAverage peak-to-trough decline | -2.37% | -1.85% | -0.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.82% | 1.59% | -0.77% |
Volatility
IGB.TO vs. PAYF.TO - Volatility Comparison
The current volatility for Purpose Global Bond Class (IGB.TO) is 0.73%, while Purpose Enhanced Premium Yield Fund (PAYF.TO) has a volatility of 2.31%. This indicates that IGB.TO experiences smaller price fluctuations and is considered to be less risky than PAYF.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IGB.TO | PAYF.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.73% | 2.31% | -1.58% |
Volatility (6M)Calculated over the trailing 6-month period | 2.37% | 6.35% | -3.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.81% | 7.02% | -4.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.79% | 9.66% | -4.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.75% | 9.51% | -3.76% |
IGB.TO vs. PAYF.TO - Expense Ratio Comparison
IGB.TO has a 0.55% expense ratio, which is lower than PAYF.TO's 0.94% expense ratio.
Dividends
IGB.TO vs. PAYF.TO - Dividend Comparison
IGB.TO's dividend yield for the trailing twelve months is around 4.86%, less than PAYF.TO's 8.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
IGB.TO Purpose Global Bond Class | 4.86% | 5.18% | 5.23% | 4.58% | 4.14% | 3.67% | 3.48% | 2.86% | 1.58% |
PAYF.TO Purpose Enhanced Premium Yield Fund | 8.88% | 8.75% | 8.82% | 8.91% | 8.02% | 7.17% | 7.27% | 4.05% | 0.00% |
Frequently Asked Questions
IGB.TO and PAYF.TO have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IGB.TO is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IGB.TO is cheaper with a 0.55% expense ratio, compared with 0.94% for PAYF.TO.
IGB.TO is categorized as Global Bonds, while PAYF.TO is Derivative Income. Their fees differ too: 0.55% for IGB.TO and 0.94% for PAYF.TO.
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