MNY.TO vs. ZUCM.TO
MNY.TO (Purpose Cash Management Fund) and ZUCM.TO (BMO USD Cash Management ETF) are both Money Market funds. Both are actively managed. Over the past year, MNY.TO returned 2.59% vs 5.72% for ZUCM.TO. At a correlation of -0.03, they often move in opposite directions. MNY.TO charges 0.22%/yr vs 0.14%/yr for ZUCM.TO.
Performance
MNY.TO vs. ZUCM.TO - Performance Comparison
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Returns By Period
In the year-to-date period, MNY.TO achieves a 0.96% return, which is significantly lower than ZUCM.TO's 2.88% return.
MNY.TO
- 1D
- 0.00%
- 1M
- 0.19%
- YTD
- 0.96%
- 6M
- 1.21%
- 1Y
- 2.59%
- 3Y*
- 3.91%
- 5Y*
- —
- 10Y*
- —
ZUCM.TO
- 1D
- 0.10%
- 1M
- 2.35%
- YTD
- 2.88%
- 6M
- 1.35%
- 1Y
- 5.72%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MNY.TO vs. ZUCM.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
MNY.TO Purpose Cash Management Fund | 0.96% | 3.03% | 4.69% | 1.39% |
ZUCM.TO BMO USD Cash Management ETF | 2.88% | -0.61% | 14.39% | -1.38% |
Correlation
The correlation between MNY.TO and ZUCM.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 Oct 3, 2023 | -0.03 |
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Return for Risk
MNY.TO vs. ZUCM.TO — Risk / Return Rank
MNY.TO
ZUCM.TO
MNY.TO vs. ZUCM.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Purpose Cash Management Fund (MNY.TO) and BMO USD Cash Management ETF (ZUCM.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 | ZUCM.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +14.83 | ||
| Sortino ratioReturn per unit of downside risk | +50.62 | ||
| Omega ratioGain probability vs. loss probability | 22.36 | 1.24 | +21.12 |
| Calmar ratioReturn relative to maximum drawdown | 65.14 | 1.56 | +63.59 |
| Martin ratioReturn relative to average drawdown | 607.07 | 4.15 | +602.92 |
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 | ZUCM.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 16.13 | 1.30 | +14.83 |
Sharpe Ratio (All Time)Calculated using the full available price history | 11.02 | 1.03 | +9.98 |
Drawdowns
MNY.TO vs. ZUCM.TO - Drawdown Comparison
The maximum MNY.TO drawdown since its inception was -0.24%, smaller than the maximum ZUCM.TO drawdown of -5.81%. Use the drawdown chart below to compare losses from any high point for MNY.TO and ZUCM.TO.
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Drawdown Indicators
| MNY.TO | ZUCM.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.24% | -5.81% | +5.57% |
Max Drawdown (1Y)Largest decline over 1 year | -0.04% | -3.69% | +3.65% |
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% | -1.72% | +1.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 1.38% | -1.38% |
Volatility
MNY.TO vs. ZUCM.TO - Volatility Comparison
The current volatility for Purpose Cash Management Fund (MNY.TO) is 0.03%, while BMO USD Cash Management ETF (ZUCM.TO) has a volatility of 0.75%. This indicates that MNY.TO experiences smaller price fluctuations and is considered to be less risky than ZUCM.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 | ZUCM.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.03% | 0.75% | -0.72% |
Volatility (6M)Calculated over the trailing 6-month period | 0.12% | 3.23% | -3.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.16% | 4.43% | -4.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.37% | 5.34% | -4.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.37% | 5.34% | -4.97% |
MNY.TO vs. ZUCM.TO - Expense Ratio Comparison
MNY.TO has a 0.22% expense ratio, which is higher than ZUCM.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. ZUCM.TO - Dividend Comparison
MNY.TO's dividend yield for the trailing twelve months is around 2.56%, less than ZUCM.TO's 3.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
MNY.TO Purpose Cash Management Fund | 2.56% | 2.93% | 4.71% | 4.85% | 1.47% |
ZUCM.TO BMO USD Cash Management ETF | 3.81% | 4.19% | 4.88% | 1.40% | 0.00% |
Frequently Asked Questions
MNY.TO and ZUCM.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, ZUCM.TO is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZUCM.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 BMO. Their fees differ too: 0.22% for MNY.TO and 0.14% for ZUCM.TO.
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