PBD.TO vs. CROP.TO
PBD.TO (Purpose Total Return Bond Fund) and CROP.TO (Purpose Credit Opportunities Fund) are both exchange-traded funds - PBD.TO is a Multisector Bonds fund actively managed by Purpose Investments Inc., while CROP.TO is a Nontraditional Bonds fund actively managed by Purpose Investments Inc.. Both are actively managed. Over the past 3 years, PBD.TO returned 4.57%/yr vs 9.57%/yr for CROP.TO. At a 0.18 correlation, their price movements are largely independent. PBD.TO charges 0.88%/yr vs 1.97%/yr for CROP.TO.
Performance
PBD.TO vs. CROP.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 lower than CROP.TO's 3.58% 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%
CROP.TO
- 1D
- 0.05%
- 1M
- 0.30%
- 6M
- 3.10%
- YTD
- 3.58%
- 1Y
- 8.55%
- 3Y*
- 9.57%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 5.01%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$135.05K | CA$183.63K | CA$411.80K | |
| CA$31.97K | CA$21.56K | CA$18.22K |
PBD.TO vs. CROP.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PBD.TO Purpose Total Return Bond Fund | 0.08% | 4.22% | 4.89% | 4.80% | -6.19% | -0.29% |
CROP.TO Purpose Credit Opportunities Fund | 3.58% | 8.10% | 12.74% | 6.36% | -5.82% | 0.07% |
Correlation
The correlation between PBD.TO and CROP.TO is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Sep 29, 2021 | 0.18 |
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Return for Risk
PBD.TO vs. CROP.TO — Risk / Return Rank
PBD.TO
CROP.TO
PBD.TO vs. CROP.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 Credit Opportunities Fund (CROP.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 | CROP.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.32 | ||
| Sortino ratioReturn per unit of downside risk | -3.49 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.52 | -0.45 |
| Calmar ratioReturn relative to maximum drawdown | 0.71 | 9.40 | -8.69 |
| Martin ratioReturn relative to average drawdown | 2.55 | 25.52 | -22.97 |
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Drawdowns
PBD.TO vs. CROP.TO - Drawdown Comparison
The maximum PBD.TO drawdown since its inception was -17.68%, which is greater than CROP.TO's maximum drawdown of -8.68%. Use the drawdown chart below to compare losses from any high point for PBD.TO and CROP.TO.
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Drawdown Indicators
| PBD.TO | CROP.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.68% | -8.68% | -9.00% |
Max Drawdown (1Y)Largest decline over 1 year | -2.19% | -0.91% | -1.28% |
Max Drawdown (3Y)Largest decline over 3 years | -3.41% | -4.10% | +0.69% |
Max Drawdown (5Y)Largest decline over 5 years | -10.12% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -17.68% | — | — |
Current DrawdownCurrent decline from peak | -1.40% | -0.21% | -1.19% |
Average DrawdownAverage peak-to-trough decline | -2.34% | -2.42% | +0.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.61% | 0.34% | +0.27% |
Volatility
PBD.TO vs. CROP.TO - Volatility Comparison
Purpose Total Return Bond Fund (PBD.TO) has a higher volatility of 1.25% compared to Purpose Credit Opportunities Fund (CROP.TO) at 0.61%. This indicates that PBD.TO's price experiences larger fluctuations and is considered to be riskier than CROP.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 | CROP.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.25% | 0.61% | +0.64% |
Volatility (6M)Calculated over the trailing 6-month period | 2.82% | 1.85% | +0.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.85% | 3.16% | +0.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.81% | 4.41% | +0.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.79% | 4.41% | +2.38% |
PBD.TO vs. CROP.TO - Expense Ratio Comparison
PBD.TO has a 0.88% expense ratio, which is lower than CROP.TO's 1.97% expense ratio.
Dividends
PBD.TO vs. CROP.TO - Dividend Comparison
PBD.TO's dividend yield for the trailing twelve months is around 4.36%, less than CROP.TO's 5.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CROP.TO Purpose Credit Opportunities Fund | 5.44% | 5.48% | 5.61% | 5.96% | 5.97% | 1.33% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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 CROP.TO have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PBD.TO is cheaper at 0.88% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PBD.TO is cheaper with a 0.88% expense ratio, compared with 1.97% for CROP.TO.
PBD.TO is categorized as Multisector Bonds, while CROP.TO is Nontraditional Bonds. Their fees differ too: 0.88% for PBD.TO and 1.97% for CROP.TO.
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