MNY.TO vs. PSU-U.TO

Last updated Jun 4, 2026

MNY.TO (Purpose Cash Management Fund) and PSU-U.TO (Purpose US Cash Fund) are both Money Market funds from Purpose Investments. Both are actively managed. Over the past 3 years, MNY.TO returned 3.91%/yr vs 4.57%/yr for PSU-U.TO. At a 0.00 correlation, their price movements are largely independent. MNY.TO charges 0.22%/yr vs 0.17%/yr for PSU-U.TO.

Performance

MNY.TO vs. PSU-U.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Purpose Cash Management Fund (MNY.TO) and Purpose US Cash Fund (PSU-U.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, MNY.TO achieves a 0.95% return, which is significantly lower than PSU-U.TO's 2.34% return.

MNY.TO

• 1D: 0.00%
• 1M: 0.19%
• YTD: 0.95%
• 6M: 1.22%
• 1Y: 2.59%
• 3Y*: 3.91%
• 5Y*: —
• 10Y*: —

PSU-U.TO

• 1D: 0.43%
• 1M: 2.22%
• YTD: 2.34%
• 6M: 0.82%
• 1Y: 4.06%
• 3Y*: 4.57%
• 5Y*: 5.60%
• 10Y*: —

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

MNY.TO vs. PSU-U.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
MNY.TO Purpose Cash Management Fund	0.95%	3.03%	4.69%	5.03%	1.54%
PSU-U.TO Purpose US Cash Fund	2.34%	-1.75%	12.58%	1.64%	3.71%

Correlation

The correlation between MNY.TO and PSU-U.TO is -0.02, 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	-0.02
Correlation (3Y) Calculated over the trailing 3-year period	-0.01
Correlation (All Time) Calculated using the full available price history since Sep 15, 2022	0.00

Return for Risk

MNY.TO vs. PSU-U.TO — Risk / Return Rank

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

MNY.TO

MNY.TO Risk / Return Rank: 100
MNY.TO Sharpe Ratio Rank: 100
MNY.TO Sortino Ratio Rank: 100
MNY.TO Omega Ratio Rank: 100
MNY.TO Calmar Ratio Rank: 100
MNY.TO Martin Ratio Rank: 100

PSU-U.TO

PSU-U.TO Risk / Return Rank: 99
PSU-U.TO Sharpe Ratio Rank: 99
PSU-U.TO Sortino Ratio Rank: 99
PSU-U.TO Omega Ratio Rank: 99
PSU-U.TO Calmar Ratio Rank: 99
PSU-U.TO Martin Ratio Rank: 99

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.

MNY.TO vs. PSU-U.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Purpose Cash Management Fund (MNY.TO) and Purpose US Cash Fund (PSU-U.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	PSU-U.TO	Difference
Sharpe ratio: Return per unit of total volatility	16.08	0.89	+15.19
Sortino ratio: Return per unit of downside risk	52.31	1.24	+51.07
Omega ratio: Gain probability vs. loss probability	22.32	1.16	+21.16
Calmar ratio: Return relative to maximum drawdown	65.02	1.00	+64.01
Martin ratio: Return relative to average drawdown	605.87	2.59	+603.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MNY.TO vs. PSU-U.TO - Sharpe Ratio Comparison

The current MNY.TO Sharpe Ratio is 16.08, which is higher than the PSU-U.TO Sharpe Ratio of 0.89. The chart below compares the historical Sharpe Ratios of MNY.TO and PSU-U.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

	MNY.TO	PSU-U.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	16.08	0.89	+15.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.89	—
Sharpe Ratio (All Time) Calculated using the full available price history	11.02	0.46	+10.56

Drawdowns

MNY.TO vs. PSU-U.TO - Drawdown Comparison

The maximum MNY.TO drawdown since its inception was -0.24%, smaller than the maximum PSU-U.TO drawdown of -16.93%. Use the drawdown chart below to compare losses from any high point for MNY.TO and PSU-U.TO.

Drawdown Indicators

	MNY.TO	PSU-U.TO	Difference
Max Drawdown Largest peak-to-trough decline	-0.24%	-16.93%	+16.69%
Max Drawdown (1Y) Largest decline over 1 year	-0.04%	-4.07%	+4.03%
Max Drawdown (3Y) Largest decline over 3 years	-0.10%	-5.47%	+5.37%
Max Drawdown (5Y) Largest decline over 5 years	—	-5.47%	—
Current Drawdown Current decline from peak	0.00%	-0.70%	+0.70%
Average Drawdown Average peak-to-trough decline	-0.00%	-4.87%	+4.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	1.57%	-1.57%

Volatility

MNY.TO vs. PSU-U.TO - Volatility Comparison

The current volatility for Purpose Cash Management Fund (MNY.TO) is 0.03%, while Purpose US Cash Fund (PSU-U.TO) has a volatility of 0.83%. This indicates that MNY.TO experiences smaller price fluctuations and is considered to be less risky than PSU-U.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MNY.TO	PSU-U.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.03%	0.83%	-0.80%
Volatility (6M) Calculated over the trailing 6-month period	0.12%	3.44%	-3.32%
Volatility (1Y) Calculated over the trailing 1-year period	0.16%	4.59%	-4.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.37%	6.32%	-5.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.37%	6.56%	-6.19%

MNY.TO vs. PSU-U.TO - Expense Ratio Comparison

MNY.TO has a 0.22% expense ratio, which is higher than PSU-U.TO's 0.17% 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. PSU-U.TO - Dividend Comparison

MNY.TO's dividend yield for the trailing twelve months is around 2.56%, less than PSU-U.TO's 2.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
MNY.TO Purpose Cash Management Fund	2.56%	2.93%	4.71%	4.85%	1.47%	0.00%	0.00%	0.00%	0.00%
PSU-U.TO Purpose US Cash Fund	2.70%	2.90%	3.65%	3.87%	1.45%	0.29%	0.41%	1.70%	1.20%

Frequently Asked Questions

Can I hold both MNY.TO and PSU-U.TO in my portfolio?

MNY.TO and PSU-U.TO have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MNY.TO or PSU-U.TO?

On fees, PSU-U.TO is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MNY.TO or PSU-U.TO?

PSU-U.TO is cheaper with a 0.17% expense ratio, compared with 0.22% for MNY.TO.

What is the main difference between MNY.TO and PSU-U.TO?

Their fees differ too: 0.22% for MNY.TO and 0.17% for PSU-U.TO.