MNY.TO vs. CCAD.TO
MNY.TO (Purpose Cash Management Fund) and CCAD.TO (CIBC Premium Cash Management ETF) are both Money Market funds. Both are actively managed. Over the past year, MNY.TO returned 2.59% vs 2.58% for CCAD.TO. At a 0.02 correlation, their price movements are largely independent. MNY.TO charges 0.22%/yr vs 0.14%/yr for CCAD.TO.
Performance
MNY.TO vs. CCAD.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with MNY.TO having a 0.95% return and CCAD.TO slightly higher at 0.98%.
MNY.TO
- 1D
- 0.00%
- 1M
- 0.19%
- YTD
- 0.95%
- 6M
- 1.22%
- 1Y
- 2.59%
- 3Y*
- 3.91%
- 5Y*
- —
- 10Y*
- —
CCAD.TO
- 1D
- 0.02%
- 1M
- 0.20%
- YTD
- 0.98%
- 6M
- 1.20%
- 1Y
- 2.58%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MNY.TO vs. CCAD.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MNY.TO Purpose Cash Management Fund | 0.95% | 1.78% |
CCAD.TO CIBC Premium Cash Management ETF | 0.98% | 1.69% |
Correlation
The correlation between MNY.TO and CCAD.TO is 0.01, 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 | 0.01 |
Correlation (All Time) Calculated using the full available price history since May 15, 2025 | 0.02 |
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Return for Risk
MNY.TO vs. CCAD.TO — Risk / Return Rank
MNY.TO
CCAD.TO
MNY.TO vs. CCAD.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Purpose Cash Management Fund (MNY.TO) and CIBC Premium Cash Management ETF (CCAD.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.
| MNY.TO | CCAD.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +8.79 | ||
| Sortino ratioReturn per unit of downside risk | +37.22 | ||
| Omega ratioGain probability vs. loss probability | 22.32 | 3.66 | +18.65 |
| Calmar ratioReturn relative to maximum drawdown | 65.02 | 32.50 | +32.52 |
| Martin ratioReturn relative to average drawdown | 605.87 | 171.24 | +434.63 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MNY.TO | CCAD.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 16.08 | 7.29 | +8.79 |
Sharpe Ratio (All Time)Calculated using the full available price history | 11.02 | 7.34 | +3.68 |
Drawdowns
MNY.TO vs. CCAD.TO - Drawdown Comparison
The maximum MNY.TO drawdown since its inception was -0.24%, which is greater than CCAD.TO's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for MNY.TO and CCAD.TO.
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Drawdown Indicators
| MNY.TO | CCAD.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.24% | -0.08% | -0.16% |
Max Drawdown (1Y)Largest decline over 1 year | -0.04% | -0.08% | +0.04% |
Max Drawdown (3Y)Largest decline over 3 years | -0.10% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.00% | -0.01% | +0.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 0.02% | -0.02% |
Volatility
MNY.TO vs. CCAD.TO - Volatility Comparison
The current volatility for Purpose Cash Management Fund (MNY.TO) is 0.03%, while CIBC Premium Cash Management ETF (CCAD.TO) has a volatility of 0.06%. This indicates that MNY.TO experiences smaller price fluctuations and is considered to be less risky than CCAD.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MNY.TO | CCAD.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.03% | 0.06% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 0.12% | 0.19% | -0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.16% | 0.36% | -0.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.37% | 0.35% | +0.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.37% | 0.35% | +0.02% |
MNY.TO vs. CCAD.TO - Expense Ratio Comparison
MNY.TO has a 0.22% expense ratio, which is higher than CCAD.TO's 0.14% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
MNY.TO vs. CCAD.TO - Dividend Comparison
MNY.TO's dividend yield for the trailing twelve months is around 2.56%, less than CCAD.TO's 2.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CCAD.TO CIBC Premium Cash Management ETF | 2.63% | 1.62% | 0.00% | 0.00% | 0.00% |
MNY.TO Purpose Cash Management Fund | 2.56% | 2.93% | 4.71% | 4.85% | 1.47% |
Frequently Asked Questions
MNY.TO and CCAD.TO have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CCAD.TO is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CCAD.TO is cheaper with a 0.14% expense ratio, compared with 0.22% for MNY.TO.
They also come from different issuers: Purpose Investments and CIBC. Their fees differ too: 0.22% for MNY.TO and 0.14% for CCAD.TO.
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