PINC.TO vs. AVDV

Last updated Jul 25, 2026

PINC.TO (Purpose Multi-Asset Income Fund) and AVDV (Avantis International Small Cap Value ETF) are both exchange-traded funds - PINC.TO is a Derivative Income fund actively managed by Purpose Investments Inc., while AVDV is a Foreign Small & Mid Cap Equities fund actively managed by Avantis. Both are actively managed. Over the past 5 years, PINC.TO returned 6.92%/yr vs 16.54%/yr for AVDV. At a 0.36 correlation, their price movements are largely independent. PINC.TO charges 1.04%/yr vs 0.36%/yr for AVDV.

Performance

PINC.TO vs. AVDV - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Purpose Multi-Asset Income Fund (PINC.TO) and Avantis International Small Cap Value ETF (AVDV). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

PINC.TO is traded in CAD, while AVDV is traded in USD. To make them comparable, the AVDV values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, PINC.TO achieves a 18.40% return, which is significantly higher than AVDV's 15.66% return.

PINC.TO

• 1D: 0.57%
• 1M: 1.74%
• 6M: 17.22%
• YTD: 18.40%
• 1Y: 24.52%
• 3Y*: 14.69%
• 5Y*: 6.92%
• 10Y*: —
• ALL TIME*: 7.09%

AVDV

• 1D: 0.64%
• 1M: -0.81%
• 6M: 5.99%
• YTD: 15.66%
• 1Y: 34.39%
• 3Y*: 26.97%
• 5Y*: 16.54%
• 10Y*: —
• ALL TIME*: 15.83%

*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)
AVDV Avantis International Small Cap Value ETF	CA$103.16M	CA$146.40M	CA$118.49M
PINC.TO Purpose Multi-Asset Income Fund	CA$10.04K	CA$9.73K	CA$12.47K

PINC.TO vs. AVDV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
PINC.TO Purpose Multi-Asset Income Fund	18.40%	14.41%	11.54%	0.95%	-12.11%	21.51%	0.74%	3.37%
AVDV Avantis International Small Cap Value ETF	15.66%	42.55%	17.87%	14.07%	-5.86%	15.74%	2.51%	10.13%

Correlation

The correlation between PINC.TO and AVDV 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	0.34
Correlation (5Y) Calculated over the trailing 5-year period	0.36
Correlation (All Time) Calculated using the full available price history since Sep 26, 2019	0.36

Return for Risk

PINC.TO vs. AVDV — Risk / Return Rank

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

PINC.TO

PINC.TO Risk / Return Rank: 97
PINC.TO Sharpe Ratio Rank: 98
PINC.TO Sortino Ratio Rank: 97
PINC.TO Omega Ratio Rank: 97
PINC.TO Calmar Ratio Rank: 96
PINC.TO Martin Ratio Rank: 96

AVDV

AVDV Risk / Return Rank: 73
AVDV Sharpe Ratio Rank: 78
AVDV Sortino Ratio Rank: 76
AVDV Omega Ratio Rank: 76
AVDV Calmar Ratio Rank: 65
AVDV Martin Ratio Rank: 68

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.

PINC.TO vs. AVDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Purpose Multi-Asset Income Fund (PINC.TO) and Avantis International Small Cap Value ETF (AVDV). 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.

	PINC.TO	AVDV	Difference
Sharpe ratio: Return per unit of total volatility	3.89	2.04	+1.85
Sortino ratio: Return per unit of downside risk	5.55	2.75	+2.80
Omega ratio: Gain probability vs. loss probability	1.81	1.35	+0.46
Calmar ratio: Return relative to maximum drawdown	6.87	2.70	+4.17
Martin ratio: Return relative to average drawdown	26.66	10.50	+16.16

PINC.TO vs. AVDV - Sharpe Ratio Comparison

The current PINC.TO Sharpe Ratio is 3.89, which is higher than the AVDV Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of PINC.TO and AVDV, 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

PINC.TO vs. AVDV - Drawdown Comparison

The maximum PINC.TO drawdown since its inception was -43.84%, which is greater than AVDV's maximum drawdown of -37.43%. Use the drawdown chart below to compare losses from any high point for PINC.TO and AVDV.

Drawdown Indicators

	PINC.TO	AVDV	Difference
Max Drawdown Largest peak-to-trough decline	-43.84%	-37.43%	-6.41%
Max Drawdown (1Y) Largest decline over 1 year	-3.59%	-12.81%	+9.22%
Max Drawdown (3Y) Largest decline over 3 years	-10.48%	-14.53%	+4.05%
Max Drawdown (5Y) Largest decline over 5 years	-21.04%	-22.53%	+1.49%
Current Drawdown Current decline from peak	0.00%	-3.56%	+3.56%
Average Drawdown Average peak-to-trough decline	-5.81%	-4.98%	-0.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.93%	3.28%	-2.35%

Volatility

PINC.TO vs. AVDV - Volatility Comparison

The current volatility for Purpose Multi-Asset Income Fund (PINC.TO) is 1.54%, while Avantis International Small Cap Value ETF (AVDV) has a volatility of 4.77%. This indicates that PINC.TO experiences smaller price fluctuations and is considered to be less risky than AVDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PINC.TO	AVDV	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.54%	4.77%	-3.23%
Volatility (6M) Calculated over the trailing 6-month period	5.06%	14.83%	-9.77%
Volatility (1Y) Calculated over the trailing 1-year period	6.35%	16.95%	-10.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.38%	18.20%	-9.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.70%	20.40%	-5.70%

PINC.TO vs. AVDV - Expense Ratio Comparison

PINC.TO has a 1.04% expense ratio, which is higher than AVDV's 0.36% expense ratio.

Dividends

PINC.TO vs. AVDV - Dividend Comparison

PINC.TO's dividend yield for the trailing twelve months is around 4.37%, more than AVDV's 2.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
AVDV Avantis International Small Cap Value ETF	2.81%	3.05%	4.31%	3.29%	3.17%	2.39%	1.67%	0.36%	0.00%
PINC.TO Purpose Multi-Asset Income Fund	4.37%	5.05%	5.48%	5.78%	5.51%	4.60%	5.33%	5.06%	3.66%

Frequently Asked Questions

Can I hold both PINC.TO and AVDV in my portfolio?

PINC.TO and AVDV 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.

Which ETF is better, PINC.TO or AVDV?

On fees, AVDV is cheaper at 0.36% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PINC.TO or AVDV?

AVDV is cheaper with a 0.36% expense ratio, compared with 1.04% for PINC.TO.

What is the main difference between PINC.TO and AVDV?

PINC.TO is categorized as Derivative Income, while AVDV is Foreign Small & Mid Cap Equities. They also come from different issuers: Purpose Investments Inc. and Avantis. Their fees differ too: 1.04% for PINC.TO and 0.36% for AVDV.