PMIF.TO vs. ZMMK.TO
PMIF.TO (PIMCO Monthly Income Fund (Canada)) and ZMMK.TO (BMO Money Market Fund ETF Series) are both exchange-traded funds - PMIF.TO is a fund fund, while ZMMK.TO is a Money Market fund actively managed by BMO. Over the past 3 years, PMIF.TO returned 6.42%/yr vs 3.82%/yr for ZMMK.TO. At a 0.00 correlation, their price movements are largely independent.
Performance
PMIF.TO vs. ZMMK.TO - Performance Comparison
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Returns By Period
In the year-to-date period, PMIF.TO achieves a 0.99% return, which is significantly lower than ZMMK.TO's 1.11% return.
PMIF.TO
- 1D
- 0.22%
- 1M
- 1.03%
- YTD
- 0.99%
- 6M
- 1.07%
- 1Y
- 6.25%
- 3Y*
- 6.42%
- 5Y*
- 3.28%
- 10Y*
- —
ZMMK.TO
- 1D
- 0.00%
- 1M
- 0.19%
- YTD
- 1.11%
- 6M
- 1.15%
- 1Y
- 2.48%
- 3Y*
- 3.82%
- 5Y*
- —
- 10Y*
- —
PMIF.TO vs. ZMMK.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PMIF.TO PIMCO Monthly Income Fund (Canada) | 0.99% | 9.04% | 5.20% | 7.55% | -6.32% | 1.22% |
ZMMK.TO BMO Money Market Fund ETF Series | 1.11% | 2.77% | 4.94% | 4.86% | 1.99% | 0.04% |
Correlation
The correlation between PMIF.TO and ZMMK.TO is -0.01, 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 | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Dec 2, 2021 | 0.00 |
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Return for Risk
PMIF.TO vs. ZMMK.TO — Risk / Return Rank
PMIF.TO
ZMMK.TO
PMIF.TO vs. ZMMK.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Monthly Income Fund (Canada) (PMIF.TO) and BMO Money Market Fund ETF Series (ZMMK.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.
| PMIF.TO | ZMMK.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -7.40 | ||
| Sortino ratioReturn per unit of downside risk | -19.53 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 5.22 | -3.89 |
| Calmar ratioReturn relative to maximum drawdown | 1.95 | 62.17 | -60.22 |
| Martin ratioReturn relative to average drawdown | 7.09 | 348.18 | -341.09 |
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Drawdowns
PMIF.TO vs. ZMMK.TO - Drawdown Comparison
The maximum PMIF.TO drawdown since its inception was -18.30%, which is greater than ZMMK.TO's maximum drawdown of -0.16%. Use the drawdown chart below to compare losses from any high point for PMIF.TO and ZMMK.TO.
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Drawdown Indicators
| PMIF.TO | ZMMK.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.30% | -0.16% | -18.14% |
Max Drawdown (1Y)Largest decline over 1 year | -3.22% | -0.04% | -3.18% |
Max Drawdown (3Y)Largest decline over 3 years | -3.98% | -0.08% | -3.90% |
Max Drawdown (5Y)Largest decline over 5 years | -10.25% | — | — |
Current DrawdownCurrent decline from peak | -0.33% | 0.00% | -0.33% |
Average DrawdownAverage peak-to-trough decline | -1.87% | -0.00% | -1.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.88% | 0.01% | +0.87% |
Volatility
PMIF.TO vs. ZMMK.TO - Volatility Comparison
PIMCO Monthly Income Fund (Canada) (PMIF.TO) has a higher volatility of 1.15% compared to BMO Money Market Fund ETF Series (ZMMK.TO) at 0.07%. This indicates that PMIF.TO's price experiences larger fluctuations and is considered to be riskier than ZMMK.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PMIF.TO | ZMMK.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.15% | 0.07% | +1.08% |
Volatility (6M)Calculated over the trailing 6-month period | 3.03% | 0.19% | +2.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.61% | 0.27% | +3.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.81% | 0.34% | +4.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.82% | 0.34% | +5.48% |
Dividends
PMIF.TO vs. ZMMK.TO - Dividend Comparison
PMIF.TO's dividend yield for the trailing twelve months is around 5.50%, more than ZMMK.TO's 2.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
PMIF.TO PIMCO Monthly Income Fund (Canada) | 5.50% | 5.50% | 6.96% | 6.06% | 3.73% | 3.22% | 3.58% | 3.80% | 3.51% | 0.59% |
ZMMK.TO BMO Money Market Fund ETF Series | 2.53% | 3.02% | 4.66% | 4.98% | 1.95% | 0.04% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PMIF.TO and ZMMK.TO have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Find the right allocation for PMIF.TO and ZMMK.TO
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