PYF.TO vs. MNY.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Purpose Premium Yield Fund Series ETF (PYF.TO) and Purpose Cash Management Fund (MNY.TO).

PYF.TO and MNY.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PYF.TO is an actively managed fund by Purpose Investments. It was launched on Nov 28, 2018. MNY.TO is an actively managed fund by Purpose Investments. It was launched on Sep 14, 2022.

Performance

PYF.TO vs. MNY.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Purpose Premium Yield Fund Series ETF (PYF.TO) and Purpose Cash Management Fund (MNY.TO). The values are adjusted to include any dividend payments, if applicable.

PYF.TO vs. MNY.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
PYF.TO Purpose Premium Yield Fund Series ETF	-0.23%	5.45%	7.42%	8.40%	2.12%
MNY.TO Purpose Cash Management Fund	0.53%	3.03%	4.69%	5.03%	1.54%

Returns By Period

In the year-to-date period, PYF.TO achieves a -0.23% return, which is significantly lower than MNY.TO's 0.53% return.

PYF.TO

• 1D: 0.30%
• 1M: 0.30%
• YTD: -0.23%
• 6M: -0.41%
• 1Y: 2.80%
• 3Y*: 6.23%
• 5Y*: 5.87%
• 10Y*: 4.48%

MNY.TO

• 1D: 0.00%
• 1M: 0.21%
• YTD: 0.53%
• 6M: 1.27%
• 1Y: 2.70%
• 3Y*: 4.05%
• 5Y*: —
• 10Y*: —

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

PYF.TO vs. MNY.TO - Expense Ratio Comparison

MNY.TO

Purpose Cash Management Fund

Return for Risk

PYF.TO vs. MNY.TO — Risk / Return Rank

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

PYF.TO

PYF.TO Risk / Return Rank: 25
PYF.TO Sharpe Ratio Rank: 24
PYF.TO Sortino Ratio Rank: 24
PYF.TO Omega Ratio Rank: 31
PYF.TO Calmar Ratio Rank: 21
PYF.TO Martin Ratio Rank: 27

MNY.TO

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

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.

PYF.TO vs. MNY.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Purpose Premium Yield Fund Series ETF (PYF.TO) and Purpose Cash Management Fund (MNY.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.

	PYF.TO	MNY.TO	Difference
Sharpe ratio Return per unit of total volatility	0.45	15.40	-14.95
Sortino ratio Return per unit of downside risk	0.75	52.97	-52.23
Omega ratio Gain probability vs. loss probability	1.13	20.07	-18.94
Calmar ratio Return relative to maximum drawdown	0.41	67.62	-67.22
Martin ratio Return relative to average drawdown	2.26	621.44	-619.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PYF.TO vs. MNY.TO - Sharpe Ratio Comparison

The current PYF.TO Sharpe Ratio is 0.45, which is lower than the MNY.TO Sharpe Ratio of 15.40. The chart below compares the historical Sharpe Ratios of PYF.TO and MNY.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PYF.TO	MNY.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.45	15.40	-14.95
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.14	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.68	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.69	11.03	-10.34

Correlation

The correlation between PYF.TO and MNY.TO is 0.08, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

PYF.TO vs. MNY.TO - Dividend Comparison

PYF.TO's dividend yield for the trailing twelve months is around 7.62%, more than MNY.TO's 2.67% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
PYF.TO Purpose Premium Yield Fund Series ETF	7.62%	7.84%	7.66%	7.47%	5.78%	5.74%	5.69%	5.29%	5.38%	5.83%	6.59%
MNY.TO Purpose Cash Management Fund	2.67%	2.93%	4.71%	4.85%	1.47%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

PYF.TO vs. MNY.TO - Drawdown Comparison

The maximum PYF.TO drawdown since its inception was -20.53%, which is greater than MNY.TO's maximum drawdown of -0.24%. Use the drawdown chart below to compare losses from any high point for PYF.TO and MNY.TO.

Drawdown Indicators

	PYF.TO	MNY.TO	Difference
Max Drawdown Largest peak-to-trough decline	-20.53%	-0.24%	-20.29%
Max Drawdown (1Y) Largest decline over 1 year	-5.13%	-0.04%	-5.09%
Max Drawdown (5Y) Largest decline over 5 years	-5.57%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-20.53%	—	—
Current Drawdown Current decline from peak	-0.98%	0.00%	-0.98%
Average Drawdown Average peak-to-trough decline	-0.99%	0.00%	-0.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.93%	0.00%	+0.93%

Volatility

PYF.TO vs. MNY.TO - Volatility Comparison

Purpose Premium Yield Fund Series ETF (PYF.TO) has a higher volatility of 0.88% compared to Purpose Cash Management Fund (MNY.TO) at 0.03%. This indicates that PYF.TO's price experiences larger fluctuations and is considered to be riskier than MNY.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PYF.TO	MNY.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.88%	0.03%	+0.85%
Volatility (6M) Calculated over the trailing 6-month period	2.20%	0.13%	+2.07%
Volatility (1Y) Calculated over the trailing 1-year period	6.35%	0.18%	+6.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.17%	0.38%	+4.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.66%	0.38%	+6.28%