PMM.TO vs. XRPP.TO

Last updated Jun 4, 2026

PMM.TO (Purpose Multi-Strategy Market Neutral Fund) and XRPP.TO (Purpose XRP ETF CAD Currency Hedged Units) are both exchange-traded funds - PMM.TO is a Long-Short fund actively managed by Purpose Investments, while XRPP.TO is a Cryptocurrency fund actively managed by Purpose Investments. Both are actively managed. At a 0.13 correlation, their price movements are largely independent.

Performance

PMM.TO vs. XRPP.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Purpose Multi-Strategy Market Neutral Fund (PMM.TO) and Purpose XRP ETF CAD Currency Hedged Units (XRPP.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PMM.TO achieves a 5.69% return, which is significantly higher than XRPP.TO's -34.43% return.

PMM.TO

• 1D: -0.54%
• 1M: 3.07%
• YTD: 5.69%
• 6M: 3.53%
• 1Y: 17.19%
• 3Y*: 11.58%
• 5Y*: 7.10%
• 10Y*: 3.51%

XRPP.TO

• 1D: -0.55%
• 1M: -12.92%
• YTD: -34.43%
• 6M: -45.39%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

PMM.TO vs. XRPP.TO - Yearly Performance Comparison

	2026 (YTD)	2025
PMM.TO Purpose Multi-Strategy Market Neutral Fund	5.69%	12.45%
XRPP.TO Purpose XRP ETF CAD Currency Hedged Units	-34.43%	-15.95%

Correlation

The correlation between PMM.TO and XRPP.TO is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 19, 2025	0.13

Return for Risk

PMM.TO vs. XRPP.TO — Risk / Return Rank

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

PMM.TO

PMM.TO Risk / Return Rank: 64
PMM.TO Sharpe Ratio Rank: 54
PMM.TO Sortino Ratio Rank: 51
PMM.TO Omega Ratio Rank: 54
PMM.TO Calmar Ratio Rank: 87
PMM.TO Martin Ratio Rank: 74

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.

PMM.TO vs. XRPP.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 XRP ETF CAD Currency Hedged Units (XRPP.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.

	PMM.TO	XRPP.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.86	—	—
Sortino ratio: Return per unit of downside risk	2.51	—	—
Omega ratio: Gain probability vs. loss probability	1.34	—	—
Calmar ratio: Return relative to maximum drawdown	5.03	—	—
Martin ratio: Return relative to average drawdown	13.86	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	PMM.TO	XRPP.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.86	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.35	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	-0.62	+0.93

Drawdowns

PMM.TO vs. XRPP.TO - Drawdown Comparison

The maximum PMM.TO drawdown since its inception was -23.50%, smaller than the maximum XRPP.TO drawdown of -66.98%. Use the drawdown chart below to compare losses from any high point for PMM.TO and XRPP.TO.

Drawdown Indicators

	PMM.TO	XRPP.TO	Difference
Max Drawdown Largest peak-to-trough decline	-23.50%	-66.98%	+43.48%
Max Drawdown (1Y) Largest decline over 1 year	-3.50%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-9.87%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-11.18%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-23.50%	—	—
Current Drawdown Current decline from peak	-0.54%	-66.67%	+66.13%
Average Drawdown Average peak-to-trough decline	-7.97%	-38.53%	+30.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.26%	—	—

Volatility

Volatility by Period

	PMM.TO	XRPP.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.01%	—	—
Volatility (6M) Calculated over the trailing 6-month period	6.27%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	9.45%	74.60%	-65.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.76%	74.60%	-64.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.13%	74.60%	-64.47%

Dividends

PMM.TO vs. XRPP.TO - Dividend Comparison

Neither PMM.TO nor XRPP.TO has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
XRPP.TO Purpose XRP ETF CAD Currency Hedged Units	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PMM.TO and XRPP.TO in my portfolio?

PMM.TO and XRPP.TO have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between PMM.TO and XRPP.TO?

PMM.TO is categorized as Long-Short, while XRPP.TO is Cryptocurrency.