PRA.TO vs. CMDY
PRA.TO (Purpose Diversified Real Asset Fund) and CMDY (iShares Bloomberg Roll Select Commodity Strategy ETF) are both exchange-traded funds - PRA.TO is a Diversified Portfolio fund actively managed by Purpose Investments Inc., while CMDY is a Commodities fund tracking the Bloomberg Roll Select Commodity Total Return Index. PRA.TO is actively managed, while CMDY is passively managed. Over the past 5 years, PRA.TO returned 15.86%/yr vs 12.57%/yr for CMDY. At a 0.34 correlation, their price movements are largely independent. PRA.TO charges 0.73%/yr vs 0.28%/yr for CMDY.
Performance
PRA.TO vs. CMDY - Performance Comparison
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Different Trading Currencies
PRA.TO is traded in CAD, while CMDY is traded in USD. To make them comparable, the CMDY values have been converted to CAD using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with PRA.TO having a 26.15% return and CMDY slightly higher at 26.29%.
PRA.TO
- 1D
- 0.42%
- 1M
- 5.87%
- 6M
- 15.04%
- YTD
- 26.15%
- 1Y
- 38.59%
- 3Y*
- 17.58%
- 5Y*
- 15.86%
- 10Y*
- 10.51%
- ALL TIME*
- 7.94%
CMDY
- 1D
- -0.38%
- 1M
- 8.63%
- 6M
- 14.91%
- YTD
- 26.29%
- 1Y
- 35.27%
- 3Y*
- 14.42%
- 5Y*
- 12.57%
- 10Y*
- —
- ALL TIME*
- 9.03%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$2.88M | CA$4.53M | CA$5.65M | |
| CA$227.74K | CA$395.74K | CA$474.14K |
PRA.TO vs. CMDY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
PRA.TO Purpose Diversified Real Asset Fund | 26.15% | 18.21% | 8.78% | 2.07% | 15.88% | 23.55% | 5.06% | 14.16% | -4.94% |
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF | 26.29% | 10.53% | 14.36% | -11.49% | 21.81% | 26.31% | -1.25% | 0.63% | -5.09% |
Correlation
The correlation between PRA.TO and CMDY is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2018 | 0.34 |
The correlation between PRA.TO and CMDY shifts across timeframes, from 0.34 (all time) to 0.49 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PRA.TO vs. CMDY — Risk / Return Rank
PRA.TO
CMDY
PRA.TO vs. CMDY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Purpose Diversified Real Asset Fund (PRA.TO) and iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY). 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.
| PRA.TO | CMDY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.97 | ||
| Sortino ratioReturn per unit of downside risk | +1.40 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.37 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 6.32 | 3.25 | +3.07 |
| Martin ratioReturn relative to average drawdown | 20.55 | 10.21 | +10.34 |
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Drawdowns
PRA.TO vs. CMDY - Drawdown Comparison
The maximum PRA.TO drawdown since its inception was -34.17%, which is greater than CMDY's maximum drawdown of -24.88%. Use the drawdown chart below to compare losses from any high point for PRA.TO and CMDY.
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Drawdown Indicators
| PRA.TO | CMDY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.17% | -24.88% | -9.29% |
Max Drawdown (1Y)Largest decline over 1 year | -6.13% | -10.90% | +4.77% |
Max Drawdown (3Y)Largest decline over 3 years | -13.47% | -10.90% | -2.57% |
Max Drawdown (5Y)Largest decline over 5 years | -19.37% | -21.06% | +1.69% |
Max Drawdown (10Y)Largest decline over 10 years | -32.26% | — | — |
Current DrawdownCurrent decline from peak | -0.34% | -3.20% | +2.86% |
Average DrawdownAverage peak-to-trough decline | -7.57% | -9.38% | +1.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.88% | 3.46% | -1.58% |
Volatility
PRA.TO vs. CMDY - Volatility Comparison
The current volatility for Purpose Diversified Real Asset Fund (PRA.TO) is 2.76%, while iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY) has a volatility of 4.16%. This indicates that PRA.TO experiences smaller price fluctuations and is considered to be less risky than CMDY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRA.TO | CMDY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.76% | 4.16% | -1.40% |
Volatility (6M)Calculated over the trailing 6-month period | 9.46% | 14.48% | -5.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.60% | 16.79% | -4.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.59% | 16.45% | -2.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.45% | 15.53% | -1.08% |
PRA.TO vs. CMDY - Expense Ratio Comparison
PRA.TO has a 0.73% expense ratio, which is higher than CMDY's 0.28% expense ratio.
Dividends
PRA.TO vs. CMDY - Dividend Comparison
PRA.TO's dividend yield for the trailing twelve months is around 2.07%, less than CMDY's 10.51% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF | 10.51% | 12.89% | 4.23% | 5.10% | 3.98% | 16.09% | 0.15% | 2.21% | 1.73% | 0.00% | 0.00% | 0.00% |
PRA.TO Purpose Diversified Real Asset Fund | 2.07% | 3.23% | 2.95% | 3.12% | 1.93% | 1.25% | 1.52% | 1.57% | 1.77% | 1.93% | 1.64% | 2.09% |
Frequently Asked Questions
PRA.TO and CMDY have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CMDY is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CMDY is cheaper with a 0.28% expense ratio, compared with 0.73% for PRA.TO.
PRA.TO is categorized as Diversified Portfolio, while CMDY is Commodities. They also come from different issuers: Purpose Investments Inc. and iShares. Their fees differ too: 0.73% for PRA.TO and 0.28% for CMDY.
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