MNU-U.TO vs. PMNT.TO
MNU-U.TO (Purpose USD Cash Management ETF) and PMNT.TO (PIMCO Global Short Maturity Fund (Canada)) are both Ultrashort Bond funds. Both are actively managed. Over the past 3 years, MNU-U.TO returned 4.72%/yr vs 2.06%/yr for PMNT.TO. Their 0.06 correlation means their historical movements had little consistent relationship. MNU-U.TO charges 0.20%/yr vs 0.39%/yr for PMNT.TO.
Performance
MNU-U.TO vs. PMNT.TO - Performance Comparison
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Different Trading Currencies
MNU-U.TO is traded in USD, while PMNT.TO is traded in CAD. To make them comparable, the PMNT.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 2.16% return, which is significantly higher than PMNT.TO's -0.60% return.
MNU-U.TO
- 1D
- 0.04%
- 1M
- 0.31%
- 6M
- 1.83%
- YTD
- 2.16%
- 1Y
- 3.81%
- 3Y*
- 4.72%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 4.76%
PMNT.TO
- 1D
- 0.23%
- 1M
- 1.43%
- 6M
- -1.26%
- YTD
- -0.60%
- 1Y
- 1.88%
- 3Y*
- 2.06%
- 5Y*
- 0.57%
- 10Y*
- —
- ALL TIME*
- 1.64%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
MNU-U.TO Purpose USD Cash Management ETF | $404.94K | $360.22K | $354.88K |
| $55.66K | $35.82K | $39.12K |
MNU-U.TO vs. PMNT.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
MNU-U.TO Purpose USD Cash Management ETF | 2.16% | 4.21% | 5.29% | 3.83% |
PMNT.TO PIMCO Global Short Maturity Fund (Canada) | -0.60% | 8.05% | -2.96% | 6.86% |
Correlation
The correlation between MNU-U.TO and PMNT.TO is 0.00, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.00 |
Correlation (3Y) Balances recent behavior with more history. | 0.04 |
Correlation (All Time) Calculated using the full available price history since Apr 27, 2023 | 0.06 |
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Return for Risk
MNU-U.TO vs. PMNT.TO — Risk / Return Rank
MNU-U.TO
PMNT.TO
MNU-U.TO vs. PMNT.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 PIMCO Global Short Maturity Fund (Canada) (PMNT.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.
| MNU-U.TO | PMNT.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +15.18 | ||
| Sortino ratioReturn per unit of downside risk | +38.00 | ||
| Omega ratioGain probability vs. loss probability | 17.02 | 1.06 | +15.96 |
| Calmar ratioReturn relative to maximum drawdown | 44.98 | 0.40 | +44.58 |
| Martin ratioReturn relative to average drawdown | 432.42 | 0.90 | +431.52 |
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Drawdowns
MNU-U.TO vs. PMNT.TO - Drawdown Comparison
The maximum MNU-U.TO drawdown since its inception was -0.43%, smaller than the maximum PMNT.TO drawdown of -15.85%. Use the drawdown chart below to compare losses from any high point for MNU-U.TO and PMNT.TO.
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Drawdown Indicators
| MNU-U.TO | PMNT.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.43% | -15.85% | +15.42% |
Max Drawdown (1Y)Largest decline over 1 year | -0.09% | -4.12% | +4.03% |
Max Drawdown (3Y)Largest decline over 3 years | -0.43% | -7.47% | +7.04% |
Max Drawdown (5Y)Largest decline over 5 years | — | -12.27% | — |
Current DrawdownCurrent decline from peak | 0.00% | -2.38% | +2.38% |
Average DrawdownAverage peak-to-trough decline | -0.01% | -4.46% | +4.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 1.83% | -1.82% |
Volatility
MNU-U.TO vs. PMNT.TO - Volatility Comparison
The current volatility for Purpose USD Cash Management ETF (MNU-U.TO) is 0.06%, while PIMCO Global Short Maturity Fund (Canada) (PMNT.TO) has a volatility of 1.04%. This indicates that MNU-U.TO experiences smaller price fluctuations and is considered to be less risky than PMNT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MNU-U.TO | PMNT.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.06% | 1.04% | -0.98% |
Volatility (6M)Calculated over the trailing 6-month period | 0.16% | 3.16% | -3.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.25% | 4.67% | -4.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.49% | 6.51% | -6.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.49% | 7.06% | -6.57% |
MNU-U.TO vs. PMNT.TO - Expense Ratio Comparison
MNU-U.TO has a 0.20% expense ratio, which is lower than PMNT.TO's 0.39% expense ratio.
Dividends
MNU-U.TO vs. PMNT.TO - Dividend Comparison
MNU-U.TO's dividend yield for the trailing twelve months is around 3.76%, less than PMNT.TO's 4.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
MNU-U.TO Purpose USD Cash Management ETF | 3.76% | 4.17% | 5.26% | 3.62% | 0.00% | 0.00% | 0.00% | 0.00% |
PMNT.TO PIMCO Global Short Maturity Fund (Canada) | 4.38% | 4.65% | 5.48% | 4.92% | 2.60% | 1.17% | 2.68% | 2.09% |
Frequently Asked Questions
MNU-U.TO and PMNT.TO have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
MNU-U.TO is cheaper with a 0.20% expense ratio, compared with 0.39% for PMNT.TO.
They also come from different issuers: Purpose and PIMCO. Their fees differ too: 0.20% for MNU-U.TO and 0.39% for PMNT.TO.
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