MNS.TO vs. KILO-B.TO

Last updated Jun 4, 2026

MNS.TO (Royal Canadian Mint - Canadian Silver Reserves) and KILO-B.TO (Purpose Gold Bullion Fund ETF Non-Currency Hedged) are both exchange-traded funds - MNS.TO is a Silver fund tracking the N/A (Physical Bullion), while KILO-B.TO is a Gold fund actively managed by Purpose Investments. MNS.TO is passively managed, while KILO-B.TO is actively managed. Over the past 5 years, MNS.TO returned 23.26%/yr vs 21.87%/yr for KILO-B.TO. At a 0.49 correlation, their price movements are largely independent. MNS.TO charges 0.45%/yr vs 0.28%/yr for KILO-B.TO.

Performance

MNS.TO vs. KILO-B.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Royal Canadian Mint - Canadian Silver Reserves (MNS.TO) and Purpose Gold Bullion Fund ETF Non-Currency Hedged (KILO-B.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MNS.TO achieves a -8.40% return, which is significantly lower than KILO-B.TO's 4.14% return.

MNS.TO

• 1D: -2.02%
• 1M: 1.76%
• YTD: -8.40%
• 6M: 21.27%
• 1Y: 101.71%
• 3Y*: 47.34%
• 5Y*: 23.26%
• 10Y*: 16.17%

KILO-B.TO

• 1D: -0.46%
• 1M: 0.62%
• YTD: 4.14%
• 6M: 5.05%
• 1Y: 34.09%
• 3Y*: 32.71%
• 5Y*: 21.87%
• 10Y*: —

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
MNS.TO Royal Canadian Mint - Canadian Silver Reserves	-8.40%	161.12%	41.73%	-5.85%	5.27%	-15.46%	45.70%	9.85%	10.83%
KILO-B.TO Purpose Gold Bullion Fund ETF Non-Currency Hedged	4.14%	56.51%	37.76%	10.43%	6.38%	-4.67%	21.17%	12.88%	8.56%

Correlation

The correlation between MNS.TO and KILO-B.TO is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.52
Correlation (All Time) Calculated using the full available price history since Nov 2, 2018	0.49

The correlation between MNS.TO and KILO-B.TO shifts across timeframes, from 0.49 (all time) to 0.66 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

MNS.TO vs. KILO-B.TO — Risk / Return Rank

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

MNS.TO

MNS.TO Risk / Return Rank: 48
MNS.TO Sharpe Ratio Rank: 55
MNS.TO Sortino Ratio Rank: 39
MNS.TO Omega Ratio Rank: 56
MNS.TO Calmar Ratio Rank: 53
MNS.TO Martin Ratio Rank: 37

KILO-B.TO

KILO-B.TO Risk / Return Rank: 38
KILO-B.TO Sharpe Ratio Rank: 39
KILO-B.TO Sortino Ratio Rank: 34
KILO-B.TO Omega Ratio Rank: 43
KILO-B.TO Calmar Ratio Rank: 40
KILO-B.TO Martin Ratio Rank: 33

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.

MNS.TO vs. KILO-B.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Royal Canadian Mint - Canadian Silver Reserves (MNS.TO) and Purpose Gold Bullion Fund ETF Non-Currency Hedged (KILO-B.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.

	MNS.TO	KILO-B.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.89	1.37	+0.53
Sortino ratio: Return per unit of downside risk	2.05	1.80	+0.25
Omega ratio: Gain probability vs. loss probability	1.35	1.28	+0.07
Calmar ratio: Return relative to maximum drawdown	2.67	1.97	+0.70
Martin ratio: Return relative to average drawdown	5.94	4.86	+1.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current MNS.TO Sharpe Ratio is 1.89, which is higher than the KILO-B.TO Sharpe Ratio of 1.37. The chart below compares the historical Sharpe Ratios of MNS.TO and KILO-B.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

	MNS.TO	KILO-B.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.89	1.37	+0.53
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.72	1.31	-0.59
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.29	1.20	-0.92

Drawdowns

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

The maximum MNS.TO drawdown since its inception was -51.12%, which is greater than KILO-B.TO's maximum drawdown of -22.54%. Use the drawdown chart below to compare losses from any high point for MNS.TO and KILO-B.TO.

Drawdown Indicators

	MNS.TO	KILO-B.TO	Difference
Max Drawdown Largest peak-to-trough decline	-51.12%	-22.54%	-28.58%
Max Drawdown (1Y) Largest decline over 1 year	-38.31%	-17.41%	-20.90%
Max Drawdown (3Y) Largest decline over 3 years	-38.31%	-17.41%	-20.90%
Max Drawdown (5Y) Largest decline over 5 years	-38.31%	-17.41%	-20.90%
Max Drawdown (10Y) Largest decline over 10 years	-42.02%	—	—
Current Drawdown Current decline from peak	-31.98%	-15.47%	-16.51%
Average Drawdown Average peak-to-trough decline	-28.15%	-7.72%	-20.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.19%	7.04%	+10.15%

Volatility

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

Royal Canadian Mint - Canadian Silver Reserves (MNS.TO) has a higher volatility of 15.55% compared to Purpose Gold Bullion Fund ETF Non-Currency Hedged (KILO-B.TO) at 5.43%. This indicates that MNS.TO's price experiences larger fluctuations and is considered to be riskier than KILO-B.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MNS.TO	KILO-B.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.55%	5.43%	+10.12%
Volatility (6M) Calculated over the trailing 6-month period	52.13%	21.50%	+30.63%
Volatility (1Y) Calculated over the trailing 1-year period	54.03%	25.07%	+28.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.67%	16.84%	+17.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.05%	17.99%	+14.06%

MNS.TO vs. KILO-B.TO - Expense Ratio Comparison

MNS.TO has a 0.45% expense ratio, which is higher than KILO-B.TO's 0.28% expense ratio.

Dividends

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

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

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%
MNS.TO Royal Canadian Mint - Canadian Silver Reserves	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

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

MNS.TO and KILO-B.TO have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

On fees, KILO-B.TO is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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

KILO-B.TO is cheaper with a 0.28% expense ratio, compared with 0.45% for MNS.TO.

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

MNS.TO is categorized as Silver, while KILO-B.TO is Gold. They also come from different issuers: Royal Canadian Mint and Purpose Investments. Their fees differ too: 0.45% for MNS.TO and 0.28% for KILO-B.TO.