PAYF.TO vs. PDF.TO
PAYF.TO (Purpose Enhanced Premium Yield Fund) and PDF.TO (Purpose Core Dividend Fund) are both exchange-traded funds - PAYF.TO is a Derivative Income fund actively managed by Purpose Investments Inc., while PDF.TO is a Dividend fund actively managed by Purpose Investments Inc.. Both are actively managed. Over the past 5 years, PAYF.TO returned 7.55%/yr vs 12.14%/yr for PDF.TO. At a 0.35 correlation, their price movements are largely independent. PAYF.TO charges 0.94%/yr vs 0.66%/yr for PDF.TO.
Performance
PAYF.TO vs. PDF.TO - Performance Comparison
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Returns By Period
In the year-to-date period, PAYF.TO achieves a 3.05% return, which is significantly lower than PDF.TO's 20.07% return.
PAYF.TO
- 1D
- 0.27%
- 1M
- 1.03%
- 6M
- 3.10%
- YTD
- 3.05%
- 1Y
- 4.97%
- 3Y*
- 9.76%
- 5Y*
- 7.55%
- 10Y*
- —
- ALL TIME*
- 7.21%
PDF.TO
- 1D
- 0.62%
- 1M
- 2.88%
- 6M
- 16.53%
- YTD
- 20.07%
- 1Y
- 33.26%
- 3Y*
- 18.64%
- 5Y*
- 12.14%
- 10Y*
- 9.50%
- ALL TIME*
- 10.45%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$14.58K | CA$14.42K | CA$25.69K | |
| CA$201.50K | CA$240.90K | CA$226.04K |
PAYF.TO vs. PDF.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
PAYF.TO Purpose Enhanced Premium Yield Fund | 3.05% | 9.96% | 11.58% | 13.46% | -3.26% | 8.85% | 2.97% | 5.92% |
PDF.TO Purpose Core Dividend Fund | 20.07% | 20.44% | 13.61% | 4.13% | -1.74% | 24.35% | -0.79% | 9.67% |
Correlation
The correlation between PAYF.TO and PDF.TO is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since May 24, 2019 | 0.35 |
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Return for Risk
PAYF.TO vs. PDF.TO — Risk / Return Rank
PAYF.TO
PDF.TO
PAYF.TO vs. PDF.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Purpose Enhanced Premium Yield Fund (PAYF.TO) and Purpose Core Dividend Fund (PDF.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.
| PAYF.TO | PDF.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.28 | ||
| Sortino ratioReturn per unit of downside risk | -4.74 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.74 | -0.60 |
| Calmar ratioReturn relative to maximum drawdown | 0.87 | 5.26 | -4.39 |
| Martin ratioReturn relative to average drawdown | 3.13 | 23.86 | -20.73 |
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Drawdowns
PAYF.TO vs. PDF.TO - Drawdown Comparison
The maximum PAYF.TO drawdown since its inception was -17.09%, smaller than the maximum PDF.TO drawdown of -36.00%. Use the drawdown chart below to compare losses from any high point for PAYF.TO and PDF.TO.
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Drawdown Indicators
| PAYF.TO | PDF.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.09% | -36.00% | +18.91% |
Max Drawdown (1Y)Largest decline over 1 year | -5.73% | -6.35% | +0.62% |
Max Drawdown (3Y)Largest decline over 3 years | -11.66% | -9.28% | -2.38% |
Max Drawdown (5Y)Largest decline over 5 years | -11.66% | -15.81% | +4.15% |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.00% | — |
Current DrawdownCurrent decline from peak | -0.91% | -0.51% | -0.40% |
Average DrawdownAverage peak-to-trough decline | -1.85% | -3.45% | +1.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.59% | 1.40% | +0.19% |
Volatility
PAYF.TO vs. PDF.TO - Volatility Comparison
The current volatility for Purpose Enhanced Premium Yield Fund (PAYF.TO) is 2.31%, while Purpose Core Dividend Fund (PDF.TO) has a volatility of 2.48%. This indicates that PAYF.TO experiences smaller price fluctuations and is considered to be less risky than PDF.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PAYF.TO | PDF.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.31% | 2.48% | -0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 6.35% | 6.86% | -0.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.02% | 8.38% | -1.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.66% | 10.33% | -0.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.51% | 13.58% | -4.07% |
PAYF.TO vs. PDF.TO - Expense Ratio Comparison
PAYF.TO has a 0.94% expense ratio, which is higher than PDF.TO's 0.66% expense ratio.
Dividends
PAYF.TO vs. PDF.TO - Dividend Comparison
PAYF.TO's dividend yield for the trailing twelve months is around 8.88%, more than PDF.TO's 2.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PAYF.TO Purpose Enhanced Premium Yield Fund | 8.88% | 8.75% | 8.82% | 8.91% | 8.02% | 7.17% | 7.27% | 4.05% | 0.00% | 0.00% | 0.00% | 0.00% |
PDF.TO Purpose Core Dividend Fund | 2.79% | 3.49% | 3.82% | 4.17% | 3.77% | 3.19% | 3.84% | 3.65% | 4.33% | 3.50% | 3.38% | 3.40% |
Frequently Asked Questions
PAYF.TO and PDF.TO have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PDF.TO is cheaper at 0.66% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PDF.TO is cheaper with a 0.66% expense ratio, compared with 0.94% for PAYF.TO.
PAYF.TO is categorized as Derivative Income, while PDF.TO is Dividend. Their fees differ too: 0.94% for PAYF.TO and 0.66% for PDF.TO.
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