PMM.TO vs. KILO.TO
PMM.TO (Purpose Multi-Strategy Market Neutral Fund) and KILO.TO (Purpose Gold Bullion Fund) are both exchange-traded funds - PMM.TO is a Long-Short fund actively managed by Purpose Investments, while KILO.TO is a Gold fund actively managed by Purpose Investments. Both are actively managed. Over the past 5 years, PMM.TO returned 6.82%/yr vs 16.78%/yr for KILO.TO. At a correlation of -0.01, they often move in opposite directions.
Performance
PMM.TO vs. KILO.TO - Performance Comparison
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Returns By Period
In the year-to-date period, PMM.TO achieves a 5.38% return, which is significantly higher than KILO.TO's -5.68% return.
PMM.TO
- 1D
- -2.01%
- 1M
- 1.05%
- YTD
- 5.38%
- 6M
- 5.02%
- 1Y
- 17.85%
- 3Y*
- 11.75%
- 5Y*
- 6.82%
- 10Y*
- 3.50%
KILO.TO
- 1D
- -1.81%
- 1M
- -9.01%
- YTD
- -5.68%
- 6M
- -9.56%
- 1Y
- 18.91%
- 3Y*
- 26.73%
- 5Y*
- 16.78%
- 10Y*
- —
PMM.TO vs. KILO.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
PMM.TO Purpose Multi-Strategy Market Neutral Fund | 5.38% | 6.07% | 20.49% | 5.85% | -3.80% | 6.01% | 3.02% |
KILO.TO Purpose Gold Bullion Fund | -5.68% | 60.17% | 25.97% | 12.15% | -0.90% | -4.72% | -2.21% |
Correlation
The correlation between PMM.TO and KILO.TO is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Aug 20, 2020 | -0.01 |
The correlation between PMM.TO and KILO.TO shifts across timeframes, from -0.01 (all time) to 0.14 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PMM.TO vs. KILO.TO — Risk / Return Rank
PMM.TO
KILO.TO
PMM.TO vs. KILO.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 Purpose Gold Bullion Fund (KILO.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 | KILO.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.21 | ||
| Sortino ratioReturn per unit of downside risk | +1.51 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.15 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 5.13 | 0.76 | +4.37 |
| Martin ratioReturn relative to average drawdown | 14.26 | 2.01 | +12.25 |
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Drawdowns
PMM.TO vs. KILO.TO - Drawdown Comparison
The maximum PMM.TO drawdown since its inception was -23.50%, smaller than the maximum KILO.TO drawdown of -24.90%. Use the drawdown chart below to compare losses from any high point for PMM.TO and KILO.TO.
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Drawdown Indicators
| PMM.TO | KILO.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.50% | -24.90% | +1.40% |
Max Drawdown (1Y)Largest decline over 1 year | -3.50% | -24.90% | +21.40% |
Max Drawdown (3Y)Largest decline over 3 years | -9.87% | -24.90% | +15.03% |
Max Drawdown (5Y)Largest decline over 5 years | -11.18% | -24.90% | +13.72% |
Max Drawdown (10Y)Largest decline over 10 years | -23.50% | — | — |
Current DrawdownCurrent decline from peak | -2.01% | -24.51% | +22.50% |
Average DrawdownAverage peak-to-trough decline | -7.91% | -6.79% | -1.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.25% | 9.44% | -8.19% |
Volatility
PMM.TO vs. KILO.TO - Volatility Comparison
The current volatility for Purpose Multi-Strategy Market Neutral Fund (PMM.TO) is 2.92%, while Purpose Gold Bullion Fund (KILO.TO) has a volatility of 7.88%. This indicates that PMM.TO experiences smaller price fluctuations and is considered to be less risky than KILO.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 | KILO.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.92% | 7.88% | -4.96% |
Volatility (6M)Calculated over the trailing 6-month period | 6.20% | 23.72% | -17.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.41% | 27.23% | -17.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.91% | 18.13% | -8.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.10% | 17.86% | -7.76% |
Dividends
PMM.TO vs. KILO.TO - Dividend Comparison
Neither PMM.TO nor KILO.TO has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
KILO.TO Purpose Gold Bullion Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 1.41% | 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 KILO.TO have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PMM.TO is categorized as Long-Short, while KILO.TO is Gold.
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