PBI.TO vs. PHE.TO

Last updated Jul 25, 2026

PBI.TO (Purpose Best Ideas Fund) and PHE.TO (Purpose Tactical Hedged Equity Fund) are both exchange-traded funds - PBI.TO is a Large Cap Blend Equities fund actively managed by Purpose Investments Inc., while PHE.TO is a Equity Hedged fund actively managed by Purpose Investments Inc.. Both are actively managed. Over the past 10 years, PBI.TO returned 10.19%/yr vs 6.87%/yr for PHE.TO. At a 0.36 correlation, their price movements are largely independent. PBI.TO charges 0.82%/yr vs 0.98%/yr for PHE.TO.

Performance

PBI.TO vs. PHE.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Purpose Best Ideas Fund (PBI.TO) and Purpose Tactical Hedged Equity Fund (PHE.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PBI.TO achieves a 3.12% return, which is significantly higher than PHE.TO's 1.54% return. Over the past 10 years, PBI.TO has outperformed PHE.TO with an annualized return of 10.19%, while PHE.TO has yielded a comparatively lower 6.87% annualized return.

PBI.TO

• 1D: -0.32%
• 1M: 1.32%
• 6M: 2.84%
• YTD: 3.12%
• 1Y: 8.74%
• 3Y*: 18.28%
• 5Y*: 4.37%
• 10Y*: 10.19%
• ALL TIME*: 8.93%

PHE.TO

• 1D: -0.37%
• 1M: 0.99%
• 6M: 1.69%
• YTD: 1.54%
• 1Y: 7.28%
• 3Y*: 9.65%
• 5Y*: 6.27%
• 10Y*: 6.87%
• ALL TIME*: 5.80%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PBI.TO Purpose Best Ideas Fund	CA$35.55K	CA$37.47K	CA$25.30K
PHE.TO Purpose Tactical Hedged Equity Fund	CA$420.41	CA$976.01	CA$1.79K

PBI.TO vs. PHE.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PBI.TO Purpose Best Ideas Fund	3.12%	19.19%	23.26%	37.57%	-39.67%	10.70%	23.07%	35.93%	-11.92%	22.62%
PHE.TO Purpose Tactical Hedged Equity Fund	1.54%	12.04%	12.63%	10.64%	-9.81%	20.76%	2.62%	8.65%	-7.89%	8.79%

Correlation

The correlation between PBI.TO and PHE.TO is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (5Y) Calculated over the trailing 5-year period	0.50
Correlation (10Y) Calculated over the trailing 10-year period	0.36
Correlation (All Time) Calculated using the full available price history since Apr 29, 2014	0.36

The correlation between PBI.TO and PHE.TO shifts across timeframes, from 0.36 (10 years) to 0.50 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

PBI.TO vs. PHE.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PBI.TO

PBI.TO Risk / Return Rank: 24
PBI.TO Sharpe Ratio Rank: 24
PBI.TO Sortino Ratio Rank: 24
PBI.TO Omega Ratio Rank: 25
PBI.TO Calmar Ratio Rank: 21
PBI.TO Martin Ratio Rank: 24

PHE.TO

PHE.TO Risk / Return Rank: 38
PHE.TO Sharpe Ratio Rank: 39
PHE.TO Sortino Ratio Rank: 39
PHE.TO Omega Ratio Rank: 36
PHE.TO Calmar Ratio Rank: 33
PHE.TO Martin Ratio Rank: 41

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PBI.TO vs. PHE.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Purpose Best Ideas Fund (PBI.TO) and Purpose Tactical Hedged Equity Fund (PHE.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.

	PBI.TO	PHE.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.55	0.98	-0.43
Sortino ratio: Return per unit of downside risk	0.86	1.48	-0.62
Omega ratio: Gain probability vs. loss probability	1.12	1.17	-0.06
Calmar ratio: Return relative to maximum drawdown	0.54	1.12	-0.57
Martin ratio: Return relative to average drawdown	1.76	4.50	-2.74

PBI.TO vs. PHE.TO - Sharpe Ratio Comparison

The current PBI.TO Sharpe Ratio is 0.55, which is lower than the PHE.TO Sharpe Ratio of 0.98. The chart below compares the historical Sharpe Ratios of PBI.TO and PHE.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PBI.TO vs. PHE.TO - Drawdown Comparison

The maximum PBI.TO drawdown since its inception was -47.87%, which is greater than PHE.TO's maximum drawdown of -22.37%. Use the drawdown chart below to compare losses from any high point for PBI.TO and PHE.TO.

Drawdown Indicators

	PBI.TO	PHE.TO	Difference
Max Drawdown Largest peak-to-trough decline	-47.87%	-22.37%	-25.50%
Max Drawdown (1Y) Largest decline over 1 year	-16.18%	-6.54%	-9.64%
Max Drawdown (3Y) Largest decline over 3 years	-20.01%	-11.34%	-8.67%
Max Drawdown (5Y) Largest decline over 5 years	-47.87%	-17.48%	-30.39%
Max Drawdown (10Y) Largest decline over 10 years	-47.87%	-21.38%	-26.49%
Current Drawdown Current decline from peak	-4.05%	-0.97%	-3.08%
Average Drawdown Average peak-to-trough decline	-10.08%	-5.22%	-4.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.97%	1.62%	+3.35%

Volatility

PBI.TO vs. PHE.TO - Volatility Comparison

Purpose Best Ideas Fund (PBI.TO) has a higher volatility of 4.30% compared to Purpose Tactical Hedged Equity Fund (PHE.TO) at 1.77%. This indicates that PBI.TO's price experiences larger fluctuations and is considered to be riskier than PHE.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PBI.TO	PHE.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.30%	1.77%	+2.53%
Volatility (6M) Calculated over the trailing 6-month period	13.37%	5.81%	+7.56%
Volatility (1Y) Calculated over the trailing 1-year period	15.88%	7.47%	+8.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.24%	9.63%	+12.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.00%	10.14%	+11.86%

PBI.TO vs. PHE.TO - Expense Ratio Comparison

PBI.TO has a 0.82% expense ratio, which is lower than PHE.TO's 0.98% expense ratio.

Dividends

PBI.TO vs. PHE.TO - Dividend Comparison

Neither PBI.TO nor PHE.TO has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
PBI.TO Purpose Best Ideas Fund	0.00%	3.02%	0.00%	0.00%	2.95%
PHE.TO Purpose Tactical Hedged Equity Fund	0.00%	0.20%	0.00%	0.00%	0.76%

Frequently Asked Questions

Can I hold both PBI.TO and PHE.TO in my portfolio?

PBI.TO and PHE.TO have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PBI.TO or PHE.TO?

On fees, PBI.TO is cheaper at 0.82% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PBI.TO or PHE.TO?

PBI.TO is cheaper with a 0.82% expense ratio, compared with 0.98% for PHE.TO.

What is the main difference between PBI.TO and PHE.TO?

PBI.TO is categorized as Large Cap Blend Equities, while PHE.TO is Equity Hedged. Their fees differ too: 0.82% for PBI.TO and 0.98% for PHE.TO.