PFMN.TO vs. XEF.TO
Compare and contrast key facts about Picton Mahoney Fortified Market Neutral Alternative Fund (PFMN.TO) and iShares Core MSCI EAFE IMI Index ETF (XEF.TO).
PFMN.TO and XEF.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XEF.TO is a passively managed fund by iShares that tracks the performance of the Morningstar DM xNA GR CAD. It was launched on Apr 10, 2013.
Performance
PFMN.TO vs. XEF.TO - Performance Comparison
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PFMN.TO vs. XEF.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
PFMN.TO Picton Mahoney Fortified Market Neutral Alternative Fund | -0.40% | 4.86% | 15.06% | 3.13% | 5.43% | 6.10% | 16.70% | 0.99% |
XEF.TO iShares Core MSCI EAFE IMI Index ETF | 2.29% | 25.69% | 12.04% | 15.21% | -9.53% | 10.36% | 6.13% | 6.92% |
Returns By Period
In the year-to-date period, PFMN.TO achieves a -0.40% return, which is significantly lower than XEF.TO's 2.29% return.
PFMN.TO
- 1D
- 0.60%
- 1M
- -0.65%
- YTD
- -0.40%
- 6M
- 0.79%
- 1Y
- 5.70%
- 3Y*
- 6.69%
- 5Y*
- 6.41%
- 10Y*
- —
XEF.TO
- 1D
- 2.93%
- 1M
- -6.27%
- YTD
- 2.29%
- 6M
- 5.53%
- 1Y
- 19.64%
- 3Y*
- 15.35%
- 5Y*
- 9.83%
- 10Y*
- 9.32%
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PFMN.TO vs. XEF.TO - Expense Ratio Comparison
Return for Risk
PFMN.TO vs. XEF.TO — Risk / Return Rank
PFMN.TO
XEF.TO
PFMN.TO vs. XEF.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Picton Mahoney Fortified Market Neutral Alternative Fund (PFMN.TO) and iShares Core MSCI EAFE IMI Index ETF (XEF.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.
| PFMN.TO | XEF.TO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.00 | 1.20 | -0.21 |
Sortino ratioReturn per unit of downside risk | 1.51 | 1.70 | -0.19 |
Omega ratioGain probability vs. loss probability | 1.20 | 1.25 | -0.05 |
Calmar ratioReturn relative to maximum drawdown | 1.49 | 1.68 | -0.19 |
Martin ratioReturn relative to average drawdown | 4.22 | 6.40 | -2.18 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PFMN.TO | XEF.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.00 | 1.20 | -0.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.80 | 0.74 | +0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.63 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.77 | 0.68 | +0.10 |
Correlation
The correlation between PFMN.TO and XEF.TO is 0.22, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
PFMN.TO vs. XEF.TO - Dividend Comparison
PFMN.TO's dividend yield for the trailing twelve months is around 0.80%, less than XEF.TO's 2.38% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PFMN.TO Picton Mahoney Fortified Market Neutral Alternative Fund | 0.80% | 0.80% | 0.00% | 1.28% | 0.00% | 0.00% | 0.00% | 0.09% | 0.00% | 0.00% | 0.00% | 0.00% |
XEF.TO iShares Core MSCI EAFE IMI Index ETF | 2.38% | 2.43% | 2.76% | 2.75% | 2.93% | 2.42% | 1.93% | 2.72% | 2.76% | 2.10% | 2.42% | 2.42% |
Drawdowns
PFMN.TO vs. XEF.TO - Drawdown Comparison
The maximum PFMN.TO drawdown since its inception was -13.04%, smaller than the maximum XEF.TO drawdown of -28.51%. Use the drawdown chart below to compare losses from any high point for PFMN.TO and XEF.TO.
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Drawdown Indicators
| PFMN.TO | XEF.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.04% | -28.51% | +15.47% |
Max Drawdown (1Y)Largest decline over 1 year | -3.49% | -11.28% | +7.79% |
Max Drawdown (5Y)Largest decline over 5 years | -4.24% | -24.58% | +20.34% |
Max Drawdown (10Y)Largest decline over 10 years | — | -28.51% | — |
Current DrawdownCurrent decline from peak | -1.69% | -6.82% | +5.13% |
Average DrawdownAverage peak-to-trough decline | -1.19% | -4.64% | +3.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.24% | 2.96% | -1.72% |
Volatility
PFMN.TO vs. XEF.TO - Volatility Comparison
The current volatility for Picton Mahoney Fortified Market Neutral Alternative Fund (PFMN.TO) is 1.98%, while iShares Core MSCI EAFE IMI Index ETF (XEF.TO) has a volatility of 7.56%. This indicates that PFMN.TO experiences smaller price fluctuations and is considered to be less risky than XEF.TO 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 | XEF.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.98% | 7.56% | -5.58% |
Volatility (6M)Calculated over the trailing 6-month period | 3.24% | 10.39% | -7.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.76% | 16.40% | -10.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.01% | 13.37% | -5.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.87% | 14.76% | -4.89% |