PSU-U.TO vs. SYLD.TO

Last updated Aug 4, 2026

PSU-U.TO (Purpose US Cash Fund) and SYLD.TO (Purpose Strategic Yield Fund) are both exchange-traded funds - PSU-U.TO is a Money Market fund actively managed by Purpose, while SYLD.TO is a High Yield Bonds fund actively managed by Purpose. Both are actively managed. Over the past 5 years, PSU-U.TO returned 3.74%/yr vs 2.52%/yr for SYLD.TO. Their -0.02 correlation means they have often moved in opposite directions in the past. PSU-U.TO charges 0.17%/yr vs 0.95%/yr for SYLD.TO.

Performance

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

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

Different Trading Currencies

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

Returns By Period

In the year-to-date period, PSU-U.TO achieves a 2.05% return, which is significantly higher than SYLD.TO's 0.92% return.

PSU-U.TO

• 1D: 0.04%
• 1M: 0.28%
• 6M: 1.78%
• YTD: 2.05%
• 1Y: 3.66%
• 3Y*: 4.57%
• 5Y*: 3.74%
• 10Y*: 2.26%
• ALL TIME*: 2.17%

SYLD.TO

• 1D: 0.13%
• 1M: 1.11%
• 6M: -0.45%
• YTD: 0.92%
• 1Y: 7.94%
• 3Y*: 7.99%
• 5Y*: 2.52%
• 10Y*: —
• ALL TIME*: 5.01%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PSU-U.TO Purpose US Cash Fund	$1.80M	$1.78M	$2.19M
SYLD.TO Purpose Strategic Yield Fund	$35.41K	$37.88K	$75.09K

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
PSU-U.TO Purpose US Cash Fund	2.05%	4.16%	5.09%	5.34%	1.95%	0.26%	0.57%	2.25%	1.11%
SYLD.TO Purpose Strategic Yield Fund	0.92%	15.42%	4.39%	9.44%	-14.08%	12.58%	13.41%	13.32%	-9.19%

Correlation

The correlation between PSU-U.TO and SYLD.TO is -0.04, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.04
Correlation (3Y) Balances recent behavior with more history.	-0.01
Correlation (5Y) Shows whether the relationship held over a longer period.	0.01
Correlation (All Time) Calculated using the full available price history since Apr 5, 2018	-0.02

Return for Risk

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

Compare historical risk-adjusted metric ranks over the past 12 months.

PSU-U.TO

PSU-U.TO Risk / Return Rank: 100
PSU-U.TO Sharpe Ratio Rank: 100
PSU-U.TO Sortino Ratio Rank: 100
PSU-U.TO Omega Ratio Rank: 100
PSU-U.TO Calmar Ratio Rank: 100
PSU-U.TO Martin Ratio Rank: 100

SYLD.TO

SYLD.TO Risk / Return Rank: 95
SYLD.TO Sharpe Ratio Rank: 93
SYLD.TO Sortino Ratio Rank: 96
SYLD.TO Omega Ratio Rank: 95
SYLD.TO Calmar Ratio Rank: 96
SYLD.TO Martin Ratio Rank: 96

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

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

This table presents a comparison of risk-adjusted performance metrics for Purpose US Cash Fund (PSU-U.TO) and Purpose Strategic Yield Fund (SYLD.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.

	PSU-U.TO	SYLD.TO	Difference
Sharpe ratio: Return per unit of total volatility	17.59	1.26	+16.33
Sortino ratio: Return per unit of downside risk	86.05	1.99	+84.06
Omega ratio: Gain probability vs. loss probability	42.84	1.23	+41.62
Calmar ratio: Return relative to maximum drawdown	80.91	1.88	+79.03
Martin ratio: Return relative to average drawdown	731.53	5.09	+726.44

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

The current PSU-U.TO Sharpe Ratio is 17.59, which is higher than the SYLD.TO Sharpe Ratio of 1.26. The chart below compares the historical Sharpe Ratios of PSU-U.TO and SYLD.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.

Drawdowns

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

The maximum PSU-U.TO drawdown since its inception was -0.16%, smaller than the maximum SYLD.TO drawdown of -38.57%. Use the drawdown chart below to compare losses from any high point for PSU-U.TO and SYLD.TO.

Drawdown Indicators

	PSU-U.TO	SYLD.TO	Difference
Max Drawdown Largest peak-to-trough decline	-0.16%	-38.57%	+38.41%
Max Drawdown (1Y) Largest decline over 1 year	-0.05%	-3.82%	+3.77%
Max Drawdown (3Y) Largest decline over 3 years	-0.05%	-5.69%	+5.64%
Max Drawdown (5Y) Largest decline over 5 years	-0.06%	-18.21%	+18.15%
Max Drawdown (10Y) Largest decline over 10 years	-0.16%	—	—
Current Drawdown Current decline from peak	0.00%	-1.83%	+1.83%
Average Drawdown Average peak-to-trough decline	-0.01%	-5.83%	+5.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.01%	1.41%	-1.40%

Volatility

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

The current volatility for Purpose US Cash Fund (PSU-U.TO) is 0.06%, while Purpose Strategic Yield Fund (SYLD.TO) has a volatility of 1.20%. This indicates that PSU-U.TO experiences smaller price fluctuations and is considered to be less risky than SYLD.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSU-U.TO	SYLD.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.06%	1.20%	-1.14%
Volatility (6M) Calculated over the trailing 6-month period	0.14%	3.97%	-3.83%
Volatility (1Y) Calculated over the trailing 1-year period	0.21%	5.69%	-5.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.26%	7.82%	-7.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.26%	12.49%	-12.23%

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

PSU-U.TO has a 0.17% expense ratio, which is lower than SYLD.TO's 0.95% expense ratio.

Dividends

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

PSU-U.TO's dividend yield for the trailing twelve months is around 3.62%, less than SYLD.TO's 5.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
PSU-U.TO Purpose US Cash Fund	3.62%	4.04%	5.01%	5.22%	1.89%	0.26%	0.55%	2.26%	1.09%
SYLD.TO Purpose Strategic Yield Fund	5.86%	5.85%	6.07%	6.45%	6.46%	5.56%	5.91%	6.13%	4.70%

Frequently Asked Questions

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

PSU-U.TO and SYLD.TO have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

On fees, PSU-U.TO is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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

PSU-U.TO is cheaper with a 0.17% expense ratio, compared with 0.95% for SYLD.TO.

What is the main difference between PSU-U.TO and SYLD.TO?

PSU-U.TO is categorized as Money Market, while SYLD.TO is High Yield Bonds. Their fees differ too: 0.17% for PSU-U.TO and 0.95% for SYLD.TO.