KILO-B.TO vs. MNU-U.TO

Last updated Jun 5, 2026

KILO-B.TO (Purpose Gold Bullion Fund ETF Non-Currency Hedged) and MNU-U.TO (Purpose USD Cash Management ETF) are both exchange-traded funds - KILO-B.TO is a Gold fund actively managed by Purpose Investments, while MNU-U.TO is a Ultrashort Bond fund actively managed by Purpose Investments. Both are actively managed. Over the past 3 years, KILO-B.TO returned 32.83%/yr vs 4.79%/yr for MNU-U.TO. At a correlation of -0.09, they often move in opposite directions. KILO-B.TO charges 0.28%/yr vs 0.20%/yr for MNU-U.TO.

Performance

KILO-B.TO vs. MNU-U.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Purpose Gold Bullion Fund ETF Non-Currency Hedged (KILO-B.TO) and Purpose USD Cash Management ETF (MNU-U.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

KILO-B.TO is traded in CAD, while MNU-U.TO is traded in USD. To make them comparable, the MNU-U.TO values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, KILO-B.TO achieves a 4.82% return, which is significantly higher than MNU-U.TO's 2.53% return.

KILO-B.TO

• 1D: 0.66%
• 1M: 0.22%
• YTD: 4.82%
• 6M: 5.56%
• 1Y: 34.38%
• 3Y*: 32.83%
• 5Y*: 22.03%
• 10Y*: —

MNU-U.TO

• 1D: 0.11%
• 1M: 2.35%
• YTD: 2.53%
• 6M: 0.93%
• 1Y: 4.57%
• 3Y*: 4.79%
• 5Y*: —
• 10Y*: —

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

KILO-B.TO vs. MNU-U.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
KILO-B.TO Purpose Gold Bullion Fund ETF Non-Currency Hedged	4.82%	56.51%	37.76%	1.09%
MNU-U.TO Purpose USD Cash Management ETF	2.53%	-1.74%	13.18%	0.54%

Correlation

The correlation between KILO-B.TO and MNU-U.TO is -0.21, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.21
Correlation (3Y) Calculated over the trailing 3-year period	-0.09
Correlation (All Time) Calculated using the full available price history since May 1, 2023	-0.09

The correlation between KILO-B.TO and MNU-U.TO shifts across timeframes, from -0.21 (1 year) to -0.09 (all time), reflecting how their relationship changes across market environments.

Return for Risk

KILO-B.TO vs. MNU-U.TO — Risk / Return Rank

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

KILO-B.TO

KILO-B.TO Risk / Return Rank: 38
KILO-B.TO Sharpe Ratio Rank: 39
KILO-B.TO Sortino Ratio Rank: 35
KILO-B.TO Omega Ratio Rank: 44
KILO-B.TO Calmar Ratio Rank: 40
KILO-B.TO Martin Ratio Rank: 32

MNU-U.TO

MNU-U.TO Risk / Return Rank: 99
MNU-U.TO Sharpe Ratio Rank: 99
MNU-U.TO Sortino Ratio Rank: 99
MNU-U.TO Omega Ratio Rank: 99
MNU-U.TO Calmar Ratio Rank: 98
MNU-U.TO Martin Ratio Rank: 99

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.

KILO-B.TO vs. MNU-U.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Purpose Gold Bullion Fund ETF Non-Currency Hedged (KILO-B.TO) and Purpose USD Cash Management ETF (MNU-U.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.

	KILO-B.TO	MNU-U.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.38	1.00	+0.38
Sortino ratio: Return per unit of downside risk	1.81	1.40	+0.42
Omega ratio: Gain probability vs. loss probability	1.28	1.18	+0.10
Calmar ratio: Return relative to maximum drawdown	1.98	1.14	+0.84
Martin ratio: Return relative to average drawdown	4.86	2.98	+1.88
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KILO-B.TO vs. MNU-U.TO - Sharpe Ratio Comparison

The current KILO-B.TO Sharpe Ratio is 1.38, which is higher than the MNU-U.TO Sharpe Ratio of 1.00. The chart below compares the historical Sharpe Ratios of KILO-B.TO and MNU-U.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.

Sharpe Ratios by Period

	KILO-B.TO	MNU-U.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.38	1.00	+0.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.32	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.21	0.86	+0.35

Drawdowns

KILO-B.TO vs. MNU-U.TO - Drawdown Comparison

The maximum KILO-B.TO drawdown since its inception was -22.54%, which is greater than MNU-U.TO's maximum drawdown of -5.44%. Use the drawdown chart below to compare losses from any high point for KILO-B.TO and MNU-U.TO.

Drawdown Indicators

	KILO-B.TO	MNU-U.TO	Difference
Max Drawdown Largest peak-to-trough decline	-22.54%	-5.44%	-17.10%
Max Drawdown (1Y) Largest decline over 1 year	-17.41%	-4.02%	-13.39%
Max Drawdown (3Y) Largest decline over 3 years	-17.41%	-5.44%	-11.97%
Max Drawdown (5Y) Largest decline over 5 years	-17.41%	—	—
Current Drawdown Current decline from peak	-14.92%	-0.47%	-14.45%
Average Drawdown Average peak-to-trough decline	-7.73%	-1.70%	-6.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.10%	1.54%	+5.56%

Volatility

KILO-B.TO vs. MNU-U.TO - Volatility Comparison

Purpose Gold Bullion Fund ETF Non-Currency Hedged (KILO-B.TO) has a higher volatility of 5.37% compared to Purpose USD Cash Management ETF (MNU-U.TO) at 0.80%. This indicates that KILO-B.TO's price experiences larger fluctuations and is considered to be riskier than MNU-U.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KILO-B.TO	MNU-U.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.37%	0.80%	+4.57%
Volatility (6M) Calculated over the trailing 6-month period	21.49%	3.45%	+18.04%
Volatility (1Y) Calculated over the trailing 1-year period	25.05%	4.59%	+20.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.84%	5.27%	+11.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.99%	5.27%	+12.72%

KILO-B.TO vs. MNU-U.TO - Expense Ratio Comparison

KILO-B.TO has a 0.28% expense ratio, which is higher than MNU-U.TO's 0.20% expense ratio.

Dividends

KILO-B.TO vs. MNU-U.TO - Dividend Comparison

KILO-B.TO has not paid dividends to shareholders, while MNU-U.TO's dividend yield for the trailing twelve months is around 2.79%.

Position	TTM	2025	2024	2023	2022	2021	2020
KILO-B.TO Purpose Gold Bullion Fund ETF Non-Currency Hedged	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.69%
MNU-U.TO Purpose USD Cash Management ETF	2.79%	2.98%	4.25%	2.69%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both KILO-B.TO and MNU-U.TO in my portfolio?

KILO-B.TO and MNU-U.TO have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, KILO-B.TO or MNU-U.TO?

On fees, MNU-U.TO is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, KILO-B.TO or MNU-U.TO?

MNU-U.TO is cheaper with a 0.20% expense ratio, compared with 0.28% for KILO-B.TO.

What is the main difference between KILO-B.TO and MNU-U.TO?

KILO-B.TO is categorized as Gold, while MNU-U.TO is Ultrashort Bond. Their fees differ too: 0.28% for KILO-B.TO and 0.20% for MNU-U.TO.