PSA.TO vs. PSU-U.TO

Last updated Jun 4, 2026

PSA.TO (Purpose High Interest Savings Fund) and PSU-U.TO (Purpose US Cash Fund) are both Money Market funds from Purpose Investments. Both are actively managed. Over the past 5 years, PSA.TO returned 3.17%/yr vs 5.60%/yr for PSU-U.TO. At a 0.00 correlation, their price movements are largely independent. Both charge a 0.17% expense ratio.

Performance

PSA.TO vs. PSU-U.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Purpose High Interest Savings Fund (PSA.TO) and Purpose US Cash Fund (PSU-U.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

PSA.TO is traded in CAD, while PSU-U.TO is traded in USD. To make them comparable, the PSU-U.TO values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, PSA.TO achieves a 0.89% return, which is significantly lower than PSU-U.TO's 2.34% return.

PSA.TO

• 1D: 0.00%
• 1M: 0.17%
• YTD: 0.89%
• 6M: 1.08%
• 1Y: 2.35%
• 3Y*: 3.73%
• 5Y*: 3.17%
• 10Y*: 2.25%

PSU-U.TO

• 1D: 0.43%
• 1M: 2.22%
• YTD: 2.34%
• 6M: 0.82%
• 1Y: 4.06%
• 3Y*: 4.57%
• 5Y*: 5.60%
• 10Y*: —

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

PSA.TO vs. PSU-U.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
PSA.TO Purpose High Interest Savings Fund	0.89%	2.64%	4.56%	5.12%	2.34%	0.60%	0.93%	2.22%	1.45%
PSU-U.TO Purpose US Cash Fund	2.34%	-1.75%	12.58%	1.64%	8.73%	-0.62%	-1.27%	-3.31%	7.52%

Correlation

The correlation between PSA.TO and PSU-U.TO is -0.08, 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	-0.08
Correlation (3Y) Calculated over the trailing 3-year period	-0.00
Correlation (5Y) Calculated over the trailing 5-year period	-0.01
Correlation (All Time) Calculated using the full available price history since Mar 1, 2018	0.00

Return for Risk

PSA.TO vs. PSU-U.TO — Risk / Return Rank

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

PSA.TO

PSA.TO Risk / Return Rank: 100
PSA.TO Sharpe Ratio Rank: 99
PSA.TO Sortino Ratio Rank: 100
PSA.TO Omega Ratio Rank: 100
PSA.TO Calmar Ratio Rank: 100
PSA.TO Martin Ratio Rank: 100

PSU-U.TO

PSU-U.TO Risk / Return Rank: 99
PSU-U.TO Sharpe Ratio Rank: 99
PSU-U.TO Sortino Ratio Rank: 99
PSU-U.TO Omega Ratio Rank: 99
PSU-U.TO Calmar Ratio Rank: 99
PSU-U.TO Martin Ratio Rank: 99

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.

PSA.TO vs. PSU-U.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Purpose High Interest Savings Fund (PSA.TO) and Purpose US Cash Fund (PSU-U.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.

	PSA.TO	PSU-U.TO	Difference
Sharpe ratio Return per unit of total volatility	10.34	0.89	+9.45
Sortino ratio Return per unit of downside risk	28.20	1.24	+26.96
Omega ratio Gain probability vs. loss probability	6.27	1.16	+5.12
Calmar ratio Return relative to maximum drawdown	117.76	1.00	+116.76
Martin ratio Return relative to average drawdown	422.79	2.59	+420.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PSA.TO vs. PSU-U.TO - Sharpe Ratio Comparison

The current PSA.TO Sharpe Ratio is 10.34, which is higher than the PSU-U.TO Sharpe Ratio of 0.89. The chart below compares the historical Sharpe Ratios of PSA.TO and PSU-U.TO, 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

	PSA.TO	PSU-U.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	10.34	0.89	+9.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	11.66	0.89	+10.78
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	9.68	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	9.26	0.46	+8.80

Drawdowns

PSA.TO vs. PSU-U.TO - Drawdown Comparison

The maximum PSA.TO drawdown since its inception was -0.04%, smaller than the maximum PSU-U.TO drawdown of -16.93%. Use the drawdown chart below to compare losses from any high point for PSA.TO and PSU-U.TO.

Drawdown Indicators

	PSA.TO	PSU-U.TO	Difference
Max Drawdown Largest peak-to-trough decline	-0.04%	-16.93%	+16.89%
Max Drawdown (1Y) Largest decline over 1 year	-0.02%	-4.07%	+4.05%
Max Drawdown (3Y) Largest decline over 3 years	-0.02%	-5.47%	+5.45%
Max Drawdown (5Y) Largest decline over 5 years	-0.04%	-5.47%	+5.43%
Max Drawdown (10Y) Largest decline over 10 years	-0.04%	—	—
Current Drawdown Current decline from peak	0.00%	-0.70%	+0.70%
Average Drawdown Average peak-to-trough decline	-0.00%	-4.87%	+4.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.01%	1.57%	-1.56%

Volatility

PSA.TO vs. PSU-U.TO - Volatility Comparison

The current volatility for Purpose High Interest Savings Fund (PSA.TO) is 0.06%, while Purpose US Cash Fund (PSU-U.TO) has a volatility of 0.83%. This indicates that PSA.TO experiences smaller price fluctuations and is considered to be less risky than PSU-U.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSA.TO	PSU-U.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.06%	0.83%	-0.77%
Volatility (6M) Calculated over the trailing 6-month period	0.16%	3.44%	-3.28%
Volatility (1Y) Calculated over the trailing 1-year period	0.23%	4.59%	-4.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.27%	6.32%	-6.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.24%	6.56%	-6.32%

PSA.TO vs. PSU-U.TO - Expense Ratio Comparison

Both PSA.TO and PSU-U.TO have an expense ratio of 0.17%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

PSA.TO vs. PSU-U.TO - Dividend Comparison

PSA.TO's dividend yield for the trailing twelve months is around 2.33%, less than PSU-U.TO's 2.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PSA.TO Purpose High Interest Savings Fund	2.33%	2.61%	4.47%	5.05%	2.26%	0.59%	0.94%	2.18%	1.66%	1.07%	0.99%	1.07%
PSU-U.TO Purpose US Cash Fund	2.70%	2.90%	3.65%	3.87%	1.45%	0.29%	0.41%	1.70%	1.20%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PSA.TO and PSU-U.TO in my portfolio?

PSA.TO and PSU-U.TO have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PSA.TO or PSU-U.TO?

Both ETFs have the same 0.17% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PSA.TO or PSU-U.TO?

PSA.TO and PSU-U.TO have the same expense ratio: 0.17% per year.