PFMN.TO vs. LLY
PFMN.TO (PICTON Market Neutral Equity Alternative Fund) is Long-Short fund actively managed by Picton Mahoney, while LLY (Eli Lilly and Company) is a stock. Over the past 5 years, PFMN.TO returned 6.52%/yr vs 43.68%/yr for LLY. At a 0.11 correlation, their price movements are largely independent.
Performance
PFMN.TO vs. LLY - Performance Comparison
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Different Trading Currencies
PFMN.TO is traded in CAD, while LLY is traded in USD. To make them comparable, the LLY values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, PFMN.TO achieves a 2.80% return, which is significantly lower than LLY's 7.93% return.
PFMN.TO
- 1D
- 0.06%
- 1M
- 1.91%
- YTD
- 2.80%
- 6M
- 3.23%
- 1Y
- 6.52%
- 3Y*
- 7.90%
- 5Y*
- 6.52%
- 10Y*
- —
LLY
- 1D
- -2.23%
- 1M
- 14.79%
- YTD
- 7.93%
- 6M
- 12.22%
- 1Y
- 43.11%
- 3Y*
- 39.51%
- 5Y*
- 43.68%
- 10Y*
- 34.60%
PFMN.TO vs. LLY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
PFMN.TO PICTON Market Neutral Equity Alternative Fund | 2.80% | 4.83% | 15.09% | 3.13% | 5.43% | 6.10% | 16.70% | 0.99% |
LLY Eli Lilly and Company | 7.93% | 33.84% | 44.59% | 57.08% | 42.76% | 66.00% | 27.93% | 22.81% |
Correlation
The correlation between PFMN.TO and LLY is 0.06, 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 | 0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Jul 16, 2019 | 0.11 |
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Return for Risk
PFMN.TO vs. LLY — Risk / Return Rank
PFMN.TO
LLY
PFMN.TO vs. LLY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PICTON Market Neutral Equity Alternative Fund (PFMN.TO) and Eli Lilly and Company (LLY). 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.
| PFMN.TO | LLY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.32 | ||
| Sortino ratioReturn per unit of downside risk | +0.49 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.23 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.95 | 1.72 | +0.23 |
| Martin ratioReturn relative to average drawdown | 6.75 | 4.19 | +2.56 |
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Drawdowns
PFMN.TO vs. LLY - Drawdown Comparison
The maximum PFMN.TO drawdown since its inception was -13.04%, smaller than the maximum LLY drawdown of -60.43%. Use the drawdown chart below to compare losses from any high point for PFMN.TO and LLY.
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Drawdown Indicators
| PFMN.TO | LLY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.04% | -60.43% | +47.39% |
Max Drawdown (1Y)Largest decline over 1 year | -3.49% | -25.52% | +22.03% |
Max Drawdown (3Y)Largest decline over 3 years | -3.85% | -35.88% | +32.03% |
Max Drawdown (5Y)Largest decline over 5 years | -4.24% | -35.88% | +31.64% |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.88% | — |
Current DrawdownCurrent decline from peak | 0.00% | -2.23% | +2.23% |
Average DrawdownAverage peak-to-trough decline | -1.18% | -22.27% | +21.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.01% | 10.44% | -9.43% |
Volatility
PFMN.TO vs. LLY - Volatility Comparison
The current volatility for PICTON Market Neutral Equity Alternative Fund (PFMN.TO) is 1.62%, while Eli Lilly and Company (LLY) has a volatility of 9.42%. This indicates that PFMN.TO experiences smaller price fluctuations and is considered to be less risky than LLY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PFMN.TO | LLY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.62% | 9.42% | -7.80% |
Volatility (6M)Calculated over the trailing 6-month period | 3.59% | 27.20% | -23.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.67% | 38.24% | -33.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.76% | 33.00% | -25.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.76% | 30.84% | -21.08% |
Dividends
PFMN.TO vs. LLY - Dividend Comparison
PFMN.TO's dividend yield for the trailing twelve months is around 0.77%, more than LLY's 0.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LLY Eli Lilly and Company | 0.57% | 0.56% | 0.67% | 0.78% | 1.07% | 1.23% | 1.75% | 1.96% | 1.94% | 2.46% | 2.77% | 2.37% |
PFMN.TO PICTON Market Neutral Equity Alternative Fund | 0.77% | 0.80% | 0.00% | 1.28% | 0.00% | 0.00% | 0.00% | 0.09% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PFMN.TO and LLY have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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