PHE.TO vs. CROP.TO
PHE.TO (Purpose Tactical Hedged Equity Fund) and CROP.TO (Purpose Credit Opportunities Fund) are both exchange-traded funds - PHE.TO is a Equity Hedged 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, PHE.TO returned 9.65%/yr vs 9.57%/yr for CROP.TO. At a 0.21 correlation, their price movements are largely independent. PHE.TO charges 0.98%/yr vs 1.97%/yr for CROP.TO.
Performance
PHE.TO vs. CROP.TO - Performance Comparison
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Returns By Period
In the year-to-date period, PHE.TO achieves a 1.54% return, which is significantly lower than CROP.TO's 3.58% return.
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%
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$420.41 | CA$976.01 | CA$1.79K |
PHE.TO vs. CROP.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PHE.TO Purpose Tactical Hedged Equity Fund | 1.54% | 12.04% | 12.63% | 10.64% | -9.81% | 4.27% |
CROP.TO Purpose Credit Opportunities Fund | 3.58% | 8.10% | 12.74% | 6.36% | -5.82% | 0.07% |
Correlation
The correlation between PHE.TO and CROP.TO is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Sep 29, 2021 | 0.21 |
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Return for Risk
PHE.TO vs. CROP.TO — Risk / Return Rank
PHE.TO
CROP.TO
PHE.TO vs. CROP.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Purpose Tactical Hedged Equity Fund (PHE.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.
| PHE.TO | CROP.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.75 | ||
| Sortino ratioReturn per unit of downside risk | -2.62 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.52 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | 1.12 | 9.40 | -8.28 |
| Martin ratioReturn relative to average drawdown | 4.50 | 25.52 | -21.02 |
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Drawdowns
PHE.TO vs. CROP.TO - Drawdown Comparison
The maximum PHE.TO drawdown since its inception was -22.37%, 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 PHE.TO and CROP.TO.
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Drawdown Indicators
| PHE.TO | CROP.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.37% | -8.68% | -13.69% |
Max Drawdown (1Y)Largest decline over 1 year | -6.54% | -0.91% | -5.63% |
Max Drawdown (3Y)Largest decline over 3 years | -11.34% | -4.10% | -7.24% |
Max Drawdown (5Y)Largest decline over 5 years | -17.48% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -21.38% | — | — |
Current DrawdownCurrent decline from peak | -0.97% | -0.21% | -0.76% |
Average DrawdownAverage peak-to-trough decline | -5.22% | -2.42% | -2.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.62% | 0.34% | +1.28% |
Volatility
PHE.TO vs. CROP.TO - Volatility Comparison
Purpose Tactical Hedged Equity Fund (PHE.TO) has a higher volatility of 1.77% compared to Purpose Credit Opportunities Fund (CROP.TO) at 0.61%. This indicates that PHE.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
| PHE.TO | CROP.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.77% | 0.61% | +1.16% |
Volatility (6M)Calculated over the trailing 6-month period | 5.81% | 1.85% | +3.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.47% | 3.16% | +4.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.63% | 4.41% | +5.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.14% | 4.41% | +5.73% |
PHE.TO vs. CROP.TO - Expense Ratio Comparison
PHE.TO has a 0.98% expense ratio, which is lower than CROP.TO's 1.97% expense ratio.
Dividends
PHE.TO vs. CROP.TO - Dividend Comparison
PHE.TO has not paid dividends to shareholders, while CROP.TO's dividend yield for the trailing twelve months is around 5.44%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
CROP.TO Purpose Credit Opportunities Fund | 5.44% | 5.48% | 5.61% | 5.96% | 5.97% | 1.33% |
PHE.TO Purpose Tactical Hedged Equity Fund | 0.00% | 0.20% | 0.00% | 0.00% | 0.76% | 0.00% |
Frequently Asked Questions
PHE.TO and CROP.TO have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PHE.TO is cheaper at 0.98% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PHE.TO is cheaper with a 0.98% expense ratio, compared with 1.97% for CROP.TO.
PHE.TO is categorized as Equity Hedged, while CROP.TO is Nontraditional Bonds. Their fees differ too: 0.98% for PHE.TO and 1.97% for CROP.TO.
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