MNY.TO vs. VDY.TO
MNY.TO (Purpose Cash Management Fund) and VDY.TO (Vanguard FTSE Canadian High Dividend Yield Index ETF) are both exchange-traded funds - MNY.TO is a Money Market fund actively managed by Purpose Investments, while VDY.TO is a Dividend fund tracking the FTSE Canada High Dividend Yield Index. MNY.TO is actively managed, while VDY.TO is passively managed. Over the past 3 years, MNY.TO returned 3.81%/yr vs 28.62%/yr for VDY.TO. At a 0.03 correlation, their price movements are largely independent. Both charge a 0.22% expense ratio.
Performance
MNY.TO vs. VDY.TO - Performance Comparison
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Returns By Period
In the year-to-date period, MNY.TO achieves a 1.22% return, which is significantly lower than VDY.TO's 28.26% return.
MNY.TO
- 1D
- 0.01%
- 1M
- 0.20%
- 6M
- 1.20%
- YTD
- 1.22%
- 1Y
- 2.56%
- 3Y*
- 3.81%
- 5Y*
- —
- 10Y*
- —
VDY.TO
- 1D
- 0.41%
- 1M
- 3.59%
- 6M
- 26.72%
- YTD
- 28.26%
- 1Y
- 51.71%
- 3Y*
- 28.62%
- 5Y*
- 18.88%
- 10Y*
- 14.65%
MNY.TO vs. VDY.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
MNY.TO Purpose Cash Management Fund | 1.22% | 3.03% | 4.69% | 5.03% | 1.18% |
VDY.TO Vanguard FTSE Canadian High Dividend Yield Index ETF | 28.26% | 29.21% | 21.44% | 8.41% | -1.60% |
Correlation
The correlation between MNY.TO and VDY.TO is -0.06, 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 | -0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Sep 14, 2022 | 0.03 |
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Return for Risk
MNY.TO vs. VDY.TO — Risk / Return Rank
MNY.TO
VDY.TO
MNY.TO vs. VDY.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Purpose Cash Management Fund (MNY.TO) and Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY.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.
| MNY.TO | VDY.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +9.88 | ||
| Sortino ratioReturn per unit of downside risk | +42.00 | ||
| Omega ratioGain probability vs. loss probability | 23.99 | 2.21 | +21.78 |
| Calmar ratioReturn relative to maximum drawdown | 64.27 | 16.66 | +47.61 |
| Martin ratioReturn relative to average drawdown | 587.94 | 67.48 | +520.46 |
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Drawdowns
MNY.TO vs. VDY.TO - Drawdown Comparison
The maximum MNY.TO drawdown since its inception was -0.24%, smaller than the maximum VDY.TO drawdown of -39.21%. Use the drawdown chart below to compare losses from any high point for MNY.TO and VDY.TO.
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Drawdown Indicators
| MNY.TO | VDY.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.24% | -39.21% | +38.97% |
Max Drawdown (1Y)Largest decline over 1 year | -0.04% | -3.12% | +3.08% |
Max Drawdown (3Y)Largest decline over 3 years | -0.10% | -10.38% | +10.28% |
Max Drawdown (5Y)Largest decline over 5 years | — | -16.17% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -39.21% | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.00% | -4.44% | +4.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 0.77% | -0.77% |
Volatility
MNY.TO vs. VDY.TO - Volatility Comparison
The current volatility for Purpose Cash Management Fund (MNY.TO) is 0.03%, while Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY.TO) has a volatility of 2.18%. This indicates that MNY.TO experiences smaller price fluctuations and is considered to be less risky than VDY.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 | VDY.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.03% | 2.18% | -2.15% |
Volatility (6M)Calculated over the trailing 6-month period | 0.09% | 6.85% | -6.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.16% | 8.49% | -8.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.32% | 11.57% | -11.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.32% | 15.91% | -15.59% |
MNY.TO vs. VDY.TO - Expense Ratio Comparison
Both MNY.TO and VDY.TO have an expense ratio of 0.22%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
MNY.TO vs. VDY.TO - Dividend Comparison
MNY.TO's dividend yield for the trailing twelve months is around 2.54%, less than VDY.TO's 2.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MNY.TO Purpose Cash Management Fund | 2.54% | 2.93% | 4.71% | 4.85% | 1.12% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VDY.TO Vanguard FTSE Canadian High Dividend Yield Index ETF | 2.78% | 3.59% | 4.37% | 4.64% | 4.42% | 3.46% | 4.59% | 4.25% | 4.44% | 3.42% | 3.25% | 4.11% |
Frequently Asked Questions
MNY.TO and VDY.TO have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.22% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
MNY.TO and VDY.TO have the same expense ratio: 0.22% per year.
MNY.TO is categorized as Money Market, while VDY.TO is Dividend. They also come from different issuers: Purpose Investments and Vanguard.
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