PMM.TO vs. YNVD.NEO

Last updated Jun 4, 2026

PMM.TO (Purpose Multi-Strategy Market Neutral Fund) and YNVD.NEO (NVIDIA (NVDA) Yield Shares Purpose ETF) are both exchange-traded funds - PMM.TO is a Long-Short fund actively managed by Purpose Investments, while YNVD.NEO is a Derivative Income fund actively managed by Purpose Investments. Both are actively managed. Over the past year, PMM.TO returned 17.19% vs 68.73% for YNVD.NEO. At a 0.18 correlation, their price movements are largely independent.

Performance

PMM.TO vs. YNVD.NEO - 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 NVIDIA (NVDA) Yield Shares Purpose ETF (YNVD.NEO). 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 lower than YNVD.NEO's 17.05% 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%

YNVD.NEO

• 1D: -4.22%
• 1M: 9.64%
• YTD: 17.05%
• 6M: 27.60%
• 1Y: 68.73%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PMM.TO vs. YNVD.NEO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PMM.TO Purpose Multi-Strategy Market Neutral Fund	5.69%	6.07%	19.11%
YNVD.NEO NVIDIA (NVDA) Yield Shares Purpose ETF	17.05%	44.51%	133.89%

Correlation

The correlation between PMM.TO and YNVD.NEO is 0.10, 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	0.10
Correlation (All Time) Calculated using the full available price history since Jan 19, 2024	0.18

PMM.TO vs. YNVD.NEO - Sectors Allocation Comparison

Sectors	PMM.TO	YNVD.NEO
Technology	32.5%	100.0%
Financial Services	12.4%	-
Communication Services	11.5%	-
Consumer Cyclical	11.5%	-
Industrials	10.0%	-
Healthcare	8.5%	-
Consumer Defensive	4.6%	-
Energy	3.1%	-
Basic Materials	2.3%	-
Utilities	1.8%	-
Real Estate	1.7%	-

Return for Risk

PMM.TO vs. YNVD.NEO — 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

YNVD.NEO

YNVD.NEO Risk / Return Rank: 62
YNVD.NEO Sharpe Ratio Rank: 58
YNVD.NEO Sortino Ratio Rank: 54
YNVD.NEO Omega Ratio Rank: 53
YNVD.NEO Calmar Ratio Rank: 81
YNVD.NEO Martin Ratio Rank: 64

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. YNVD.NEO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Purpose Multi-Strategy Market Neutral Fund (PMM.TO) and NVIDIA (NVDA) Yield Shares Purpose ETF (YNVD.NEO). 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	YNVD.NEO	Difference
Sharpe ratio: Return per unit of total volatility	1.86	1.95	-0.09
Sortino ratio: Return per unit of downside risk	2.51	2.58	-0.07
Omega ratio: Gain probability vs. loss probability	1.34	1.33	+0.01
Calmar ratio: Return relative to maximum drawdown	5.03	4.21	+0.82
Martin ratio: Return relative to average drawdown	13.86	11.44	+2.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PMM.TO vs. YNVD.NEO - Sharpe Ratio Comparison

The current PMM.TO Sharpe Ratio is 1.86, which is comparable to the YNVD.NEO Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of PMM.TO and YNVD.NEO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PMM.TO	YNVD.NEO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.86	1.95	-0.09
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	1.50	-1.20

Drawdowns

PMM.TO vs. YNVD.NEO - Drawdown Comparison

The maximum PMM.TO drawdown since its inception was -23.50%, smaller than the maximum YNVD.NEO drawdown of -41.02%. Use the drawdown chart below to compare losses from any high point for PMM.TO and YNVD.NEO.

Drawdown Indicators

	PMM.TO	YNVD.NEO	Difference
Max Drawdown Largest peak-to-trough decline	-23.50%	-41.02%	+17.52%
Max Drawdown (1Y) Largest decline over 1 year	-3.50%	-16.41%	+12.91%
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%	-4.27%	+3.73%
Average Drawdown Average peak-to-trough decline	-7.97%	-8.83%	+0.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.26%	6.03%	-4.77%

Volatility

PMM.TO vs. YNVD.NEO - Volatility Comparison

The current volatility for Purpose Multi-Strategy Market Neutral Fund (PMM.TO) is 2.01%, while NVIDIA (NVDA) Yield Shares Purpose ETF (YNVD.NEO) has a volatility of 13.09%. This indicates that PMM.TO experiences smaller price fluctuations and is considered to be less risky than YNVD.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PMM.TO	YNVD.NEO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.01%	13.09%	-11.08%
Volatility (6M) Calculated over the trailing 6-month period	6.27%	27.53%	-21.26%
Volatility (1Y) Calculated over the trailing 1-year period	9.45%	35.44%	-25.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.76%	52.47%	-42.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.13%	52.47%	-42.34%

Dividends

PMM.TO vs. YNVD.NEO - Dividend Comparison

PMM.TO has not paid dividends to shareholders, while YNVD.NEO's dividend yield for the trailing twelve months is around 21.78%.

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%
YNVD.NEO NVIDIA (NVDA) Yield Shares Purpose ETF	21.78%	23.48%	17.81%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

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

PMM.TO and YNVD.NEO have a correlation of 0.10, 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 YNVD.NEO?

PMM.TO is categorized as Long-Short, while YNVD.NEO is Derivative Income.