KILO-B.TO vs. PMM.TO

Last updated Jun 5, 2026

KILO-B.TO (Purpose Gold Bullion Fund ETF Non-Currency Hedged) and PMM.TO (Purpose Multi-Strategy Market Neutral Fund) are both exchange-traded funds - KILO-B.TO is a Gold fund actively managed by Purpose Investments, while PMM.TO is a Long-Short fund actively managed by Purpose Investments. Both are actively managed. Over the past 5 years, KILO-B.TO returned 22.03%/yr vs 7.02%/yr for PMM.TO. At a 0.00 correlation, their price movements are largely independent.

Performance

KILO-B.TO vs. PMM.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 Multi-Strategy Market Neutral Fund (PMM.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KILO-B.TO achieves a 4.82% return, which is significantly lower than PMM.TO's 5.84% 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*: —

PMM.TO

• 1D: -0.07%
• 1M: 2.99%
• YTD: 5.84%
• 6M: 3.64%
• 1Y: 18.31%
• 3Y*: 11.48%
• 5Y*: 7.02%
• 10Y*: 3.52%

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

KILO-B.TO vs. PMM.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
KILO-B.TO Purpose Gold Bullion Fund ETF Non-Currency Hedged	4.82%	56.51%	37.76%	10.43%	6.38%	-4.67%	21.17%	12.88%	8.56%
PMM.TO Purpose Multi-Strategy Market Neutral Fund	5.84%	6.07%	20.49%	5.85%	-3.80%	6.01%	-14.11%	1.88%	-3.41%

Correlation

The correlation between KILO-B.TO and PMM.TO is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.07
Correlation (5Y) Calculated over the trailing 5-year period	0.03
Correlation (All Time) Calculated using the full available price history since Nov 1, 2018	0.00

The correlation between KILO-B.TO and PMM.TO shifts across timeframes, from 0.00 (all time) to 0.16 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

KILO-B.TO vs. PMM.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

PMM.TO

PMM.TO Risk / Return Rank: 68
PMM.TO Sharpe Ratio Rank: 59
PMM.TO Sortino Ratio Rank: 56
PMM.TO Omega Ratio Rank: 59
PMM.TO Calmar Ratio Rank: 89
PMM.TO Martin Ratio Rank: 77

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. PMM.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 Multi-Strategy Market Neutral Fund (PMM.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	PMM.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.38	1.95	-0.58
Sortino ratio: Return per unit of downside risk	1.81	2.64	-0.83
Omega ratio: Gain probability vs. loss probability	1.28	1.36	-0.08
Calmar ratio: Return relative to maximum drawdown	1.98	5.26	-3.28
Martin ratio: Return relative to average drawdown	4.86	14.53	-9.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KILO-B.TO vs. PMM.TO - Sharpe Ratio Comparison

The current KILO-B.TO Sharpe Ratio is 1.38, which is comparable to the PMM.TO Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of KILO-B.TO and PMM.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	PMM.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.38	1.95	-0.58
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.32	0.72	+0.59
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.35	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.21	0.30	+0.91

Drawdowns

KILO-B.TO vs. PMM.TO - Drawdown Comparison

The maximum KILO-B.TO drawdown since its inception was -22.54%, roughly equal to the maximum PMM.TO drawdown of -23.50%. Use the drawdown chart below to compare losses from any high point for KILO-B.TO and PMM.TO.

Drawdown Indicators

	KILO-B.TO	PMM.TO	Difference
Max Drawdown Largest peak-to-trough decline	-22.54%	-23.50%	+0.96%
Max Drawdown (1Y) Largest decline over 1 year	-17.41%	-3.50%	-13.91%
Max Drawdown (3Y) Largest decline over 3 years	-17.41%	-9.87%	-7.54%
Max Drawdown (5Y) Largest decline over 5 years	-17.41%	-11.18%	-6.23%
Max Drawdown (10Y) Largest decline over 10 years	—	-23.50%	—
Current Drawdown Current decline from peak	-14.92%	-0.39%	-14.53%
Average Drawdown Average peak-to-trough decline	-7.73%	-7.96%	+0.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.10%	1.26%	+5.84%

Volatility

KILO-B.TO vs. PMM.TO - Volatility Comparison

Purpose Gold Bullion Fund ETF Non-Currency Hedged (KILO-B.TO) has a higher volatility of 5.37% compared to Purpose Multi-Strategy Market Neutral Fund (PMM.TO) at 1.98%. This indicates that KILO-B.TO's price experiences larger fluctuations and is considered to be riskier than PMM.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KILO-B.TO	PMM.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.37%	1.98%	+3.39%
Volatility (6M) Calculated over the trailing 6-month period	21.49%	6.08%	+15.41%
Volatility (1Y) Calculated over the trailing 1-year period	25.05%	9.45%	+15.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.84%	9.75%	+7.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.99%	10.13%	+7.86%

Dividends

KILO-B.TO vs. PMM.TO - Dividend Comparison

Neither KILO-B.TO nor PMM.TO has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%	0.00%	0.00%	0.00%
PMM.TO Purpose Multi-Strategy Market Neutral Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.92%	2.44%

Frequently Asked Questions

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

KILO-B.TO and PMM.TO have a correlation of 0.16, 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 KILO-B.TO and PMM.TO?

KILO-B.TO is categorized as Gold, while PMM.TO is Long-Short.