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

Last updated Jun 4, 2026

MNU-U.TO (Purpose USD Cash Management ETF) and KILO-B.TO (Purpose Gold Bullion Fund ETF Non-Currency Hedged) are both exchange-traded funds - MNU-U.TO is a Ultrashort Bond fund actively managed by Purpose Investments, while KILO-B.TO is a Gold fund actively managed by Purpose Investments. Both are actively managed. Over the past 3 years, MNU-U.TO returned 3.61%/yr vs 31.20%/yr for KILO-B.TO. At a correlation of -0.00, they often move in opposite directions. MNU-U.TO charges 0.20%/yr vs 0.28%/yr for KILO-B.TO.

Performance

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

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

Different Trading Currencies

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

Returns By Period

In the year-to-date period, MNU-U.TO achieves a 1.13% return, which is significantly lower than KILO-B.TO's 2.85% return.

MNU-U.TO

• 1D: 0.01%
• 1M: 0.21%
• YTD: 1.13%
• 6M: 1.28%
• 1Y: 2.83%
• 3Y*: 3.61%
• 5Y*: —
• 10Y*: —

KILO-B.TO

• 1D: -0.86%
• 1M: -1.38%
• YTD: 2.85%
• 6M: 5.46%
• 1Y: 32.38%
• 3Y*: 31.20%
• 5Y*: 18.50%
• 10Y*: —

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

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

	2026 (YTD)	2025	2024	2023
MNU-U.TO Purpose USD Cash Management ETF	1.13%	2.98%	4.23%	2.87%
KILO-B.TO Purpose Gold Bullion Fund ETF Non-Currency Hedged	2.85%	64.01%	26.88%	3.42%

Correlation

The correlation between MNU-U.TO and KILO-B.TO is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.05
Correlation (3Y) Calculated over the trailing 3-year period	0.01
Correlation (All Time) Calculated using the full available price history since Apr 28, 2023	-0.00

Return for Risk

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

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

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

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.

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

This table presents a comparison of risk-adjusted performance metrics for Purpose USD Cash Management ETF (MNU-U.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.

	MNU-U.TO	KILO-B.TO	Difference
Sharpe ratio: Return per unit of total volatility	7.16	1.23	+5.92
Sortino ratio: Return per unit of downside risk	9.86	1.64	+8.22
Omega ratio: Gain probability vs. loss probability	3.65	1.25	+2.41
Calmar ratio: Return relative to maximum drawdown	17.71	1.70	+16.02
Martin ratio: Return relative to average drawdown	96.29	4.26	+92.03
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current MNU-U.TO Sharpe Ratio is 7.16, which is higher than the KILO-B.TO Sharpe Ratio of 1.23. The chart below compares the historical Sharpe Ratios of MNU-U.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

	MNU-U.TO	KILO-B.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	7.16	1.23	+5.92
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.03	—
Sharpe Ratio (All Time) Calculated using the full available price history	6.00	1.09	+4.91

Drawdowns

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

The maximum MNU-U.TO drawdown since its inception was -0.43%, smaller than the maximum KILO-B.TO drawdown of -21.50%. Use the drawdown chart below to compare losses from any high point for MNU-U.TO and KILO-B.TO.

Drawdown Indicators

	MNU-U.TO	KILO-B.TO	Difference
Max Drawdown Largest peak-to-trough decline	-0.43%	-21.50%	+21.07%
Max Drawdown (1Y) Largest decline over 1 year	-0.16%	-19.18%	+19.02%
Max Drawdown (3Y) Largest decline over 3 years	-0.43%	-19.18%	+18.75%
Max Drawdown (5Y) Largest decline over 5 years	—	-20.65%	—
Current Drawdown Current decline from peak	-0.00%	-17.52%	+17.52%
Average Drawdown Average peak-to-trough decline	-0.02%	-6.81%	+6.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.03%	7.62%	-7.59%

Volatility

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

The current volatility for Purpose USD Cash Management ETF (MNU-U.TO) is 0.09%, while Purpose Gold Bullion Fund ETF Non-Currency Hedged (KILO-B.TO) has a volatility of 5.75%. This indicates that MNU-U.TO experiences smaller price fluctuations and is considered to be less risky than KILO-B.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MNU-U.TO	KILO-B.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.09%	5.75%	-5.66%
Volatility (6M) Calculated over the trailing 6-month period	0.28%	22.85%	-22.57%
Volatility (1Y) Calculated over the trailing 1-year period	0.40%	26.38%	-25.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.61%	18.04%	-17.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.61%	18.89%	-18.28%

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

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

Dividends

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

MNU-U.TO's dividend yield for the trailing twelve months is around 2.79%, while KILO-B.TO has not 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%
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 MNU-U.TO and KILO-B.TO in my portfolio?

MNU-U.TO and KILO-B.TO have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

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