PINC.TO vs. PAYF.TO
PINC.TO (Purpose Multi-Asset Income Fund) and PAYF.TO (Purpose Enhanced Premium Yield Fund) are both Derivative Income funds from Purpose Investments Inc.. Both are actively managed. Over the past 5 years, PINC.TO returned 6.92%/yr vs 7.55%/yr for PAYF.TO. At a 0.25 correlation, their price movements are largely independent. PINC.TO charges 1.04%/yr vs 0.94%/yr for PAYF.TO.
Performance
PINC.TO vs. PAYF.TO - Performance Comparison
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Returns By Period
In the year-to-date period, PINC.TO achieves a 18.40% return, which is significantly higher than PAYF.TO's 3.05% 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%
PAYF.TO
- 1D
- 0.27%
- 1M
- 1.03%
- 6M
- 3.10%
- YTD
- 3.05%
- 1Y
- 4.97%
- 3Y*
- 9.76%
- 5Y*
- 7.55%
- 10Y*
- —
- ALL TIME*
- 7.21%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$14.58K | CA$14.42K | CA$25.69K | |
| CA$10.04K | CA$9.73K | CA$12.47K |
PINC.TO vs. PAYF.TO - 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% | 5.90% |
PAYF.TO Purpose Enhanced Premium Yield Fund | 3.05% | 9.96% | 11.58% | 13.46% | -3.26% | 8.85% | 2.97% | 5.92% |
Correlation
The correlation between PINC.TO and PAYF.TO is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since May 24, 2019 | 0.25 |
The correlation between PINC.TO and PAYF.TO shifts across timeframes, from 0.17 (1 year) to 0.30 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
PINC.TO vs. PAYF.TO — Risk / Return Rank
PINC.TO
PAYF.TO
PINC.TO vs. PAYF.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Purpose Multi-Asset Income Fund (PINC.TO) and Purpose Enhanced Premium Yield Fund (PAYF.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.
| PINC.TO | PAYF.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.18 | ||
| Sortino ratioReturn per unit of downside risk | +4.48 | ||
| Omega ratioGain probability vs. loss probability | 1.81 | 1.14 | +0.67 |
| Calmar ratioReturn relative to maximum drawdown | 6.87 | 0.87 | +5.99 |
| Martin ratioReturn relative to average drawdown | 26.66 | 3.13 | +23.53 |
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Drawdowns
PINC.TO vs. PAYF.TO - Drawdown Comparison
The maximum PINC.TO drawdown since its inception was -43.84%, which is greater than PAYF.TO's maximum drawdown of -17.09%. Use the drawdown chart below to compare losses from any high point for PINC.TO and PAYF.TO.
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Drawdown Indicators
| PINC.TO | PAYF.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.84% | -17.09% | -26.75% |
Max Drawdown (1Y)Largest decline over 1 year | -3.59% | -5.73% | +2.14% |
Max Drawdown (3Y)Largest decline over 3 years | -10.48% | -11.66% | +1.18% |
Max Drawdown (5Y)Largest decline over 5 years | -21.04% | -11.66% | -9.38% |
Current DrawdownCurrent decline from peak | 0.00% | -0.91% | +0.91% |
Average DrawdownAverage peak-to-trough decline | -5.81% | -1.85% | -3.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.93% | 1.59% | -0.66% |
Volatility
PINC.TO vs. PAYF.TO - Volatility Comparison
The current volatility for Purpose Multi-Asset Income Fund (PINC.TO) is 1.54%, while Purpose Enhanced Premium Yield Fund (PAYF.TO) has a volatility of 2.31%. This indicates that PINC.TO experiences smaller price fluctuations and is considered to be less risky than PAYF.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PINC.TO | PAYF.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.54% | 2.31% | -0.77% |
Volatility (6M)Calculated over the trailing 6-month period | 5.06% | 6.35% | -1.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.35% | 7.02% | -0.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.38% | 9.66% | -1.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.70% | 9.51% | +5.19% |
PINC.TO vs. PAYF.TO - Expense Ratio Comparison
PINC.TO has a 1.04% expense ratio, which is higher than PAYF.TO's 0.94% expense ratio.
Dividends
PINC.TO vs. PAYF.TO - Dividend Comparison
PINC.TO's dividend yield for the trailing twelve months is around 4.37%, less than PAYF.TO's 8.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
PAYF.TO Purpose Enhanced Premium Yield Fund | 8.88% | 8.75% | 8.82% | 8.91% | 8.02% | 7.17% | 7.27% | 4.05% | 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
PINC.TO and PAYF.TO have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PAYF.TO is cheaper at 0.94% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PAYF.TO is cheaper with a 0.94% expense ratio, compared with 1.04% for PINC.TO.
Their fees differ too: 1.04% for PINC.TO and 0.94% for PAYF.TO.
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