PMM.TO vs. ARB.TO
PMM.TO (Purpose Multi-Strategy Market Neutral Fund) and ARB.TO (Accelerate Arbitrage Fund) are both Long-Short funds. PMM.TO is actively managed, while ARB.TO is passively managed. Over the past 5 years, PMM.TO returned 6.51%/yr vs 3.81%/yr for ARB.TO. At a 0.01 correlation, their price movements are largely independent.
Performance
PMM.TO vs. ARB.TO - Performance Comparison
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Returns By Period
In the year-to-date period, PMM.TO achieves a 6.44% return, which is significantly higher than ARB.TO's 0.86% return.
PMM.TO
- 1D
- -0.43%
- 1M
- 0.25%
- 6M
- 2.15%
- YTD
- 6.44%
- 1Y
- 15.65%
- 3Y*
- 11.85%
- 5Y*
- 6.51%
- 10Y*
- 3.27%
ARB.TO
- 1D
- -0.33%
- 1M
- -0.58%
- 6M
- -0.75%
- YTD
- 0.86%
- 1Y
- 2.61%
- 3Y*
- 6.52%
- 5Y*
- 3.81%
- 10Y*
- —
PMM.TO vs. ARB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
PMM.TO Purpose Multi-Strategy Market Neutral Fund | 6.44% | 6.07% | 20.49% | 5.85% | -3.80% | 6.01% | 3.74% |
ARB.TO Accelerate Arbitrage Fund | 0.86% | 10.14% | 5.29% | 3.48% | -1.10% | 6.94% | 31.16% |
Correlation
The correlation between PMM.TO and ARB.TO is 0.07, 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 | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Apr 6, 2020 | 0.01 |
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Return for Risk
PMM.TO vs. ARB.TO — Risk / Return Rank
PMM.TO
ARB.TO
PMM.TO vs. ARB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Purpose Multi-Strategy Market Neutral Fund (PMM.TO) and Accelerate Arbitrage Fund (ARB.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.
| PMM.TO | ARB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.37 | ||
| Sortino ratioReturn per unit of downside risk | +1.80 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.06 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 4.58 | 1.05 | +3.53 |
| Martin ratioReturn relative to average drawdown | 12.78 | 2.17 | +10.61 |
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Drawdowns
PMM.TO vs. ARB.TO - Drawdown Comparison
The maximum PMM.TO drawdown since its inception was -23.50%, which is greater than ARB.TO's maximum drawdown of -13.46%. Use the drawdown chart below to compare losses from any high point for PMM.TO and ARB.TO.
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Drawdown Indicators
| PMM.TO | ARB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.50% | -13.46% | -10.04% |
Max Drawdown (1Y)Largest decline over 1 year | -3.50% | -2.50% | -1.00% |
Max Drawdown (3Y)Largest decline over 3 years | -9.87% | -2.50% | -7.37% |
Max Drawdown (5Y)Largest decline over 5 years | -11.18% | -5.18% | -6.00% |
Max Drawdown (10Y)Largest decline over 10 years | -23.50% | — | — |
Current DrawdownCurrent decline from peak | -1.06% | -1.29% | +0.23% |
Average DrawdownAverage peak-to-trough decline | -7.88% | -5.69% | -2.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.25% | 1.21% | +0.04% |
Volatility
PMM.TO vs. ARB.TO - Volatility Comparison
Purpose Multi-Strategy Market Neutral Fund (PMM.TO) has a higher volatility of 3.34% compared to Accelerate Arbitrage Fund (ARB.TO) at 1.89%. This indicates that PMM.TO's price experiences larger fluctuations and is considered to be riskier than ARB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PMM.TO | ARB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.34% | 1.89% | +1.45% |
Volatility (6M)Calculated over the trailing 6-month period | 6.31% | 5.33% | +0.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.49% | 8.37% | +1.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.95% | 7.18% | +2.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.07% | 8.34% | +1.73% |
Dividends
PMM.TO vs. ARB.TO - Dividend Comparison
PMM.TO has not paid dividends to shareholders, while ARB.TO's dividend yield for the trailing twelve months is around 3.79%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
ARB.TO Accelerate Arbitrage Fund | 3.79% | 3.75% | 3.98% | 3.56% | 3.09% | 2.63% | 1.24% | 0.00% | 0.00% | 0.00% |
PMM.TO Purpose Multi-Strategy Market Neutral Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.92% | 2.44% |
Frequently Asked Questions
PMM.TO and ARB.TO have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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