PBD.TO vs. BND.TO
PBD.TO (Purpose Total Return Bond Fund) and BND.TO (Purpose Global Bond Fund) are both exchange-traded funds - PBD.TO is a Multisector Bonds fund actively managed by Purpose Investments Inc., while BND.TO is a Global Bonds fund actively managed by Purpose Investments Inc.. Both are actively managed. Over the past 10 years, PBD.TO returned 2.02%/yr vs 2.74%/yr for BND.TO. At a 0.21 correlation, their price movements are largely independent. PBD.TO charges 0.88%/yr vs 0.45%/yr for BND.TO.
Performance
PBD.TO vs. BND.TO - Performance Comparison
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Returns By Period
In the year-to-date period, PBD.TO achieves a 0.08% return, which is significantly higher than BND.TO's 0.04% return. Over the past 10 years, PBD.TO has underperformed BND.TO with an annualized return of 2.02%, while BND.TO has yielded a comparatively higher 2.74% annualized return.
PBD.TO
- 1D
- -0.43%
- 1M
- -0.98%
- 6M
- -0.28%
- YTD
- 0.08%
- 1Y
- 1.56%
- 3Y*
- 4.57%
- 5Y*
- 1.51%
- 10Y*
- 2.02%
- ALL TIME*
- 2.30%
BND.TO
- 1D
- 0.06%
- 1M
- -1.48%
- 6M
- -0.46%
- YTD
- 0.04%
- 1Y
- 3.42%
- 3Y*
- 6.60%
- 5Y*
- 2.85%
- 10Y*
- 2.74%
- ALL TIME*
- 2.97%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
BND.TO Purpose Global Bond Fund | CA$1.16M | CA$839.27K | CA$802.49K |
| CA$31.97K | CA$21.56K | CA$18.22K |
PBD.TO vs. BND.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PBD.TO Purpose Total Return Bond Fund | 0.08% | 4.22% | 4.89% | 4.80% | -6.19% | 0.05% | 6.85% | 6.23% | -3.51% | 2.15% |
BND.TO Purpose Global Bond Fund | 0.04% | 7.26% | 7.49% | 8.45% | -7.80% | 2.62% | 6.14% | 4.16% | -0.91% | 1.72% |
Correlation
The correlation between PBD.TO and BND.TO is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Oct 28, 2015 | 0.21 |
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Return for Risk
PBD.TO vs. BND.TO — Risk / Return Rank
PBD.TO
BND.TO
PBD.TO vs. BND.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Purpose Total Return Bond Fund (PBD.TO) and Purpose Global Bond Fund (BND.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.
| PBD.TO | BND.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.66 | ||
| Sortino ratioReturn per unit of downside risk | -0.90 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.20 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 0.71 | 1.20 | -0.48 |
| Martin ratioReturn relative to average drawdown | 2.55 | 4.70 | -2.14 |
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Drawdowns
PBD.TO vs. BND.TO - Drawdown Comparison
The maximum PBD.TO drawdown since its inception was -17.68%, which is greater than BND.TO's maximum drawdown of -16.55%. Use the drawdown chart below to compare losses from any high point for PBD.TO and BND.TO.
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Drawdown Indicators
| PBD.TO | BND.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.68% | -16.55% | -1.13% |
Max Drawdown (1Y)Largest decline over 1 year | -2.19% | -2.87% | +0.68% |
Max Drawdown (3Y)Largest decline over 3 years | -3.41% | -4.46% | +1.05% |
Max Drawdown (5Y)Largest decline over 5 years | -10.12% | -12.43% | +2.31% |
Max Drawdown (10Y)Largest decline over 10 years | -17.68% | -16.55% | -1.13% |
Current DrawdownCurrent decline from peak | -1.40% | -1.74% | +0.34% |
Average DrawdownAverage peak-to-trough decline | -2.34% | -2.09% | -0.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.61% | 0.73% | -0.12% |
Volatility
PBD.TO vs. BND.TO - Volatility Comparison
Purpose Total Return Bond Fund (PBD.TO) has a higher volatility of 1.25% compared to Purpose Global Bond Fund (BND.TO) at 0.98%. This indicates that PBD.TO's price experiences larger fluctuations and is considered to be riskier than BND.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PBD.TO | BND.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.25% | 0.98% | +0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 2.82% | 2.81% | +0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.85% | 3.22% | +0.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.81% | 5.11% | -0.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.79% | 5.16% | +1.63% |
PBD.TO vs. BND.TO - Expense Ratio Comparison
PBD.TO has a 0.88% expense ratio, which is higher than BND.TO's 0.45% expense ratio.
Dividends
PBD.TO vs. BND.TO - Dividend Comparison
PBD.TO's dividend yield for the trailing twelve months is around 4.36%, less than BND.TO's 5.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BND.TO Purpose Global Bond Fund | 5.94% | 5.70% | 5.24% | 5.20% | 4.14% | 3.67% | 3.48% | 3.11% | 3.96% | 3.47% | 3.26% | 0.53% |
PBD.TO Purpose Total Return Bond Fund | 4.36% | 4.28% | 4.27% | 4.25% | 3.80% | 3.43% | 3.32% | 3.68% | 3.85% | 4.50% | 3.68% | 3.81% |
Frequently Asked Questions
PBD.TO and BND.TO have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BND.TO is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BND.TO is cheaper with a 0.45% expense ratio, compared with 0.88% for PBD.TO.
PBD.TO is categorized as Multisector Bonds, while BND.TO is Global Bonds. Their fees differ too: 0.88% for PBD.TO and 0.45% for BND.TO.
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