MNY.TO vs. ZCLN.TO
MNY.TO (Purpose Cash Management Fund) and ZCLN.TO (BMO Clean Energy Index ETF) are both exchange-traded funds - MNY.TO is a Money Market fund actively managed by Purpose Investments, while ZCLN.TO is a Alternative Energy Equities fund tracking the S&P Global Clean Energy Index. MNY.TO is actively managed, while ZCLN.TO is passively managed. Over the past 3 years, MNY.TO returned 3.86%/yr vs 7.66%/yr for ZCLN.TO. At a correlation of -0.01, they often move in opposite directions. MNY.TO charges 0.22%/yr vs 0.39%/yr for ZCLN.TO.
Performance
MNY.TO vs. ZCLN.TO - Performance Comparison
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Returns By Period
In the year-to-date period, MNY.TO achieves a 1.09% return, which is significantly lower than ZCLN.TO's 29.68% return.
MNY.TO
- 1D
- 0.01%
- 1M
- 0.19%
- YTD
- 1.09%
- 6M
- 1.18%
- 1Y
- 2.56%
- 3Y*
- 3.86%
- 5Y*
- —
- 10Y*
- —
ZCLN.TO
- 1D
- -1.14%
- 1M
- -7.95%
- YTD
- 29.68%
- 6M
- 24.49%
- 1Y
- 60.11%
- 3Y*
- 7.66%
- 5Y*
- 1.49%
- 10Y*
- —
MNY.TO vs. ZCLN.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
MNY.TO Purpose Cash Management Fund | 1.09% | 3.03% | 4.69% | 5.03% | 1.18% |
ZCLN.TO BMO Clean Energy Index ETF | 29.68% | 35.83% | -20.23% | -20.37% | -9.35% |
Correlation
The correlation between MNY.TO and ZCLN.TO is -0.03, 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 | -0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since Sep 14, 2022 | -0.01 |
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Return for Risk
MNY.TO vs. ZCLN.TO — Risk / Return Rank
MNY.TO
ZCLN.TO
MNY.TO vs. ZCLN.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Purpose Cash Management Fund (MNY.TO) and BMO Clean Energy Index ETF (ZCLN.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 | ZCLN.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +13.78 | ||
| Sortino ratioReturn per unit of downside risk | +47.05 | ||
| Omega ratioGain probability vs. loss probability | 22.09 | 1.33 | +20.76 |
| Calmar ratioReturn relative to maximum drawdown | 64.32 | 4.01 | +60.32 |
| Martin ratioReturn relative to average drawdown | 588.37 | 11.68 | +576.69 |
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Drawdowns
MNY.TO vs. ZCLN.TO - Drawdown Comparison
The maximum MNY.TO drawdown since its inception was -0.24%, smaller than the maximum ZCLN.TO drawdown of -61.18%. Use the drawdown chart below to compare losses from any high point for MNY.TO and ZCLN.TO.
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Drawdown Indicators
| MNY.TO | ZCLN.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.24% | -61.18% | +60.94% |
Max Drawdown (1Y)Largest decline over 1 year | -0.04% | -15.08% | +15.04% |
Max Drawdown (3Y)Largest decline over 3 years | -0.10% | -38.80% | +38.70% |
Max Drawdown (5Y)Largest decline over 5 years | — | -50.26% | — |
Current DrawdownCurrent decline from peak | 0.00% | -25.40% | +25.40% |
Average DrawdownAverage peak-to-trough decline | -0.00% | -40.54% | +40.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 5.16% | -5.16% |
Volatility
MNY.TO vs. ZCLN.TO - Volatility Comparison
The current volatility for Purpose Cash Management Fund (MNY.TO) is 0.04%, while BMO Clean Energy Index ETF (ZCLN.TO) has a volatility of 12.15%. This indicates that MNY.TO experiences smaller price fluctuations and is considered to be less risky than ZCLN.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 | ZCLN.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.04% | 12.15% | -12.11% |
Volatility (6M)Calculated over the trailing 6-month period | 0.12% | 23.01% | -22.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.16% | 29.07% | -28.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.33% | 26.34% | -26.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.33% | 27.34% | -27.01% |
MNY.TO vs. ZCLN.TO - Expense Ratio Comparison
MNY.TO has a 0.22% expense ratio, which is lower than ZCLN.TO's 0.39% expense ratio.
Dividends
MNY.TO vs. ZCLN.TO - Dividend Comparison
MNY.TO's dividend yield for the trailing twelve months is around 2.56%, more than ZCLN.TO's 1.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
MNY.TO Purpose Cash Management Fund | 2.56% | 2.93% | 4.71% | 4.85% | 1.12% | 0.00% |
ZCLN.TO BMO Clean Energy Index ETF | 1.34% | 1.73% | 2.13% | 1.37% | 0.93% | 0.83% |
Frequently Asked Questions
MNY.TO and ZCLN.TO have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
MNY.TO is cheaper with a 0.22% expense ratio, compared with 0.39% for ZCLN.TO.
MNY.TO is categorized as Money Market, while ZCLN.TO is Alternative Energy Equities. They also come from different issuers: Purpose Investments and BMO. Their fees differ too: 0.22% for MNY.TO and 0.39% for ZCLN.TO.
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