MNY.TO vs. XETM.TO

Last updated Jun 4, 2026

MNY.TO (Purpose Cash Management Fund) and XETM.TO (iShares S&P/TSX Energy Transition Materials Index ETF) are both exchange-traded funds - MNY.TO is a Money Market fund actively managed by Purpose Investments, while XETM.TO is a Materials fund tracking the S&P/TSX Energy Transition Materials Index. MNY.TO is actively managed, while XETM.TO is passively managed. Over the past year, MNY.TO returned 2.59% vs 132.04% for XETM.TO. At a correlation of -0.02, they often move in opposite directions. MNY.TO charges 0.22%/yr vs 0.59%/yr for XETM.TO.

Performance

MNY.TO vs. XETM.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Purpose Cash Management Fund (MNY.TO) and iShares S&P/TSX Energy Transition Materials Index ETF (XETM.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MNY.TO achieves a 0.95% return, which is significantly lower than XETM.TO's 27.20% return.

MNY.TO

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

XETM.TO

• 1D: -4.12%
• 1M: 14.61%
• YTD: 27.20%
• 6M: 37.88%
• 1Y: 132.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MNY.TO vs. XETM.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MNY.TO Purpose Cash Management Fund	0.95%	3.03%	4.69%	1.67%
XETM.TO iShares S&P/TSX Energy Transition Materials Index ETF	27.20%	74.97%	5.16%	-2.24%

Correlation

The correlation between MNY.TO and XETM.TO is -0.09, 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	-0.09
Correlation (All Time) Calculated using the full available price history since Sep 13, 2023	-0.02

Return for Risk

MNY.TO vs. XETM.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

XETM.TO

XETM.TO Risk / Return Rank: 87
XETM.TO Sharpe Ratio Rank: 92
XETM.TO Sortino Ratio Rank: 80
XETM.TO Omega Ratio Rank: 87
XETM.TO Calmar Ratio Rank: 89
XETM.TO Martin Ratio Rank: 86

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. XETM.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Purpose Cash Management Fund (MNY.TO) and iShares S&P/TSX Energy Transition Materials Index ETF (XETM.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	XETM.TO	Difference
Sharpe ratio: Return per unit of total volatility	16.08	3.35	+12.73
Sortino ratio: Return per unit of downside risk	52.31	3.62	+48.69
Omega ratio: Gain probability vs. loss probability	22.32	1.54	+20.78
Calmar ratio: Return relative to maximum drawdown	65.02	5.29	+59.73
Martin ratio: Return relative to average drawdown	605.87	18.31	+587.55
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. XETM.TO - Sharpe Ratio Comparison

The current MNY.TO Sharpe Ratio is 16.08, which is higher than the XETM.TO Sharpe Ratio of 3.35. The chart below compares the historical Sharpe Ratios of MNY.TO and XETM.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	XETM.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	16.08	3.35	+12.73
Sharpe Ratio (All Time) Calculated using the full available price history	11.02	1.01	+10.01

Drawdowns

MNY.TO vs. XETM.TO - Drawdown Comparison

The maximum MNY.TO drawdown since its inception was -0.24%, smaller than the maximum XETM.TO drawdown of -33.71%. Use the drawdown chart below to compare losses from any high point for MNY.TO and XETM.TO.

Drawdown Indicators

	MNY.TO	XETM.TO	Difference
Max Drawdown Largest peak-to-trough decline	-0.24%	-33.71%	+33.47%
Max Drawdown (1Y) Largest decline over 1 year	-0.04%	-25.13%	+25.09%
Max Drawdown (3Y) Largest decline over 3 years	-0.10%	—	—
Current Drawdown Current decline from peak	0.00%	-4.12%	+4.12%
Average Drawdown Average peak-to-trough decline	-0.00%	-8.19%	+8.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	7.24%	-7.24%

Volatility

MNY.TO vs. XETM.TO - Volatility Comparison

The current volatility for Purpose Cash Management Fund (MNY.TO) is 0.03%, while iShares S&P/TSX Energy Transition Materials Index ETF (XETM.TO) has a volatility of 13.89%. This indicates that MNY.TO experiences smaller price fluctuations and is considered to be less risky than XETM.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MNY.TO	XETM.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.03%	13.89%	-13.86%
Volatility (6M) Calculated over the trailing 6-month period	0.12%	31.22%	-31.10%
Volatility (1Y) Calculated over the trailing 1-year period	0.16%	39.67%	-39.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.37%	35.24%	-34.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.37%	35.24%	-34.87%

MNY.TO vs. XETM.TO - Expense Ratio Comparison

MNY.TO has a 0.22% expense ratio, which is lower than XETM.TO's 0.59% expense ratio.

Dividends

MNY.TO vs. XETM.TO - Dividend Comparison

MNY.TO's dividend yield for the trailing twelve months is around 2.56%, more than XETM.TO's 0.52% yield.

Position	TTM	2025	2024	2023	2022
MNY.TO Purpose Cash Management Fund	2.56%	2.93%	4.71%	4.85%	1.47%
XETM.TO iShares S&P/TSX Energy Transition Materials Index ETF	0.52%	0.66%	0.69%	0.48%	0.00%

Frequently Asked Questions

Can I hold both MNY.TO and XETM.TO in my portfolio?

MNY.TO and XETM.TO have a correlation of -0.09, 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 XETM.TO?

On fees, MNY.TO is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MNY.TO or XETM.TO?

MNY.TO is cheaper with a 0.22% expense ratio, compared with 0.59% for XETM.TO.

What is the main difference between MNY.TO and XETM.TO?

MNY.TO is categorized as Money Market, while XETM.TO is Materials. They also come from different issuers: Purpose Investments and iShares. Their fees differ too: 0.22% for MNY.TO and 0.59% for XETM.TO.