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PYF.TO vs. PMM.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PYF.TO vs. PMM.TO

Last updated Jun 4, 2026

PYF.TO (Purpose Premium Yield Fund Series ETF) and PMM.TO (Purpose Multi-Strategy Market Neutral Fund) are both exchange-traded funds - PYF.TO is a Diversified Portfolio fund actively managed by Purpose Investments, while PMM.TO is a Long-Short fund actively managed by Purpose Investments. Both are actively managed. Over the past 10 years, PYF.TO returned 4.63%/yr vs 3.51%/yr for PMM.TO. At a 0.16 correlation, their price movements are largely independent.

Performance

PYF.TO vs. PMM.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 Multi-Strategy Market Neutral Fund (PMM.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, PYF.TO achieves a 1.16% return, which is significantly lower than PMM.TO's 5.69% return. Over the past 10 years, PYF.TO has outperformed PMM.TO with an annualized return of 4.63%, while PMM.TO has yielded a comparatively lower 3.51% annualized return.

PYF.TO

1D
-0.42%
1M
0.79%
YTD
1.16%
6M
1.28%
1Y
2.22%
3Y*
6.48%
5Y*
5.99%
10Y*
4.63%

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

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

2026 (YTD)202520242023202220212020201920182017
PYF.TO
Purpose Premium Yield Fund Series ETF		1.16%5.45%7.42%8.40%5.25%4.95%-1.59%7.28%2.01%3.61%
PMM.TO
Purpose Multi-Strategy Market Neutral Fund		5.69%6.07%20.49%5.85%-3.80%6.01%-14.11%1.88%-2.86%6.56%

Correlation

The correlation between PYF.TO and PMM.TO is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.13

Correlation (3Y)
Calculated over the trailing 3-year period

0.09

Correlation (5Y)
Calculated over the trailing 5-year period

0.11

Correlation (10Y)
Calculated over the trailing 10-year period

0.16

Correlation (All Time)
Calculated using the full available price history since Jan 25, 2016

0.16

PYF.TO vs. PMM.TO - Sectors Allocation Comparison

Sectors
PYF.TO
PMM.TO

Technology

23.1%
32.5%

Consumer Cyclical

21.8%
11.5%

Financial Services

17.0%
12.4%

Healthcare

14.5%
8.5%

Consumer Defensive

11.9%
4.6%

Energy

3.8%
3.1%

Industrials

3.1%
10.0%

Communication Services

2.6%
11.5%

Basic Materials

2.2%
2.3%

Utilities

0.0%
1.8%

Real Estate

0.0%
1.7%

Technology

PYF.TO
23.1%
PMM.TO
32.5%

Consumer Cyclical

PYF.TO
21.8%
PMM.TO
11.5%

Financial Services

PYF.TO
17.0%
PMM.TO
12.4%

Healthcare

PYF.TO
14.5%
PMM.TO
8.5%

Consumer Defensive

PYF.TO
11.9%
PMM.TO
4.6%

Energy

PYF.TO
3.8%
PMM.TO
3.1%

Industrials

PYF.TO
3.1%
PMM.TO
10.0%

Communication Services

PYF.TO
2.6%
PMM.TO
11.5%

Basic Materials

PYF.TO
2.2%
PMM.TO
2.3%

Utilities

PYF.TO
0.0%
PMM.TO
1.8%

Real Estate

PYF.TO
0.0%
PMM.TO
1.7%

Compare stocks, funds, or ETFs

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Purpose Premium Yield Fund Series ETF

Purpose Multi-Strategy Market Neutral Fund

Often compared with PYF.TO:
PYF.TO vs. BTCC-B.TOPYF.TO vs. HBAL.TOPYF.TO vs. ZCON.TOPYF.TO vs. CEQT.TOPYF.TO vs. ZESG.TOPYF.TO vs. CSBG.NEOPYF.TO vs. MGRW.TO
Often compared with PMM.TO:
PMM.TO vs. QLEIXPMM.TO vs. IS.TOPMM.TO vs. ZMMK.TOPMM.TO vs. BRKY.NEOPMM.TO vs. ^GSPCPMM.TO vs. YCST.NEOPMM.TO vs. PDIV.TO

Return for Risk

PYF.TO vs. PMM.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: 2222
Overall Rank
PYF.TO Sharpe Ratio Rank: 2121
Sharpe Ratio Rank
PYF.TO Sortino Ratio Rank: 2020
Sortino Ratio Rank
PYF.TO Omega Ratio Rank: 2121
Omega Ratio Rank
PYF.TO Calmar Ratio Rank: 2323
Calmar Ratio Rank
PYF.TO Martin Ratio Rank: 2323
Martin Ratio Rank
PMM.TO
PMM.TO Risk / Return Rank: 6464
Overall Rank
PMM.TO Sharpe Ratio Rank: 5454
Sharpe Ratio Rank
PMM.TO Sortino Ratio Rank: 5151
Sortino Ratio Rank
PMM.TO Omega Ratio Rank: 5454
Omega Ratio Rank
PMM.TO Calmar Ratio Rank: 8787
Calmar Ratio Rank
PMM.TO Martin Ratio Rank: 7474
Martin Ratio Rank
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. PMM.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 Multi-Strategy Market Neutral Fund (PMM.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.TOPMM.TODifference
Sharpe ratioReturn per unit of total volatility
0.71
1.86

-1.14

Sortino ratioReturn per unit of downside risk
1.01
2.51

-1.50

Omega ratioGain probability vs. loss probability

1.14

1.34

-0.20

Calmar ratioReturn relative to maximum drawdown

1.05

5.03

-3.97

Martin ratioReturn relative to average drawdown

2.83

13.86

-11.03

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. PMM.TO - Sharpe Ratio Comparison

The current PYF.TO Sharpe Ratio is 0.71, which is lower than the PMM.TO Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of PYF.TO and PMM.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.

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Sharpe Ratios by Period

PYF.TOPMM.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.71

1.86

-1.14

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.16

0.73

+0.43

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.70

0.35

+0.35

Sharpe Ratio (All Time)

Calculated using the full available price history

0.71

0.30

+0.40

Drawdowns

PYF.TO vs. PMM.TO - Drawdown Comparison

The maximum PYF.TO drawdown since its inception was -20.53%, smaller than the maximum PMM.TO drawdown of -23.50%. Use the drawdown chart below to compare losses from any high point for PYF.TO and PMM.TO.

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Drawdown Indicators

PYF.TOPMM.TODifference

Max Drawdown

Largest peak-to-trough decline

-20.53%

-23.50%

+2.97%

Max Drawdown (1Y)

Largest decline over 1 year

-2.11%

-3.50%

+1.39%

Max Drawdown (3Y)

Largest decline over 3 years

-5.57%

-9.87%

+4.30%

Max Drawdown (5Y)

Largest decline over 5 years

-5.57%

-11.18%

+5.61%

Max Drawdown (10Y)

Largest decline over 10 years

-20.53%

-23.50%

+2.97%

Current Drawdown

Current decline from peak

-0.42%

-0.54%

+0.12%

Average Drawdown

Average peak-to-trough decline

-0.98%

-7.97%

+6.99%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.79%

1.26%

-0.47%

Volatility

PYF.TO vs. PMM.TO - Volatility Comparison

The current volatility for Purpose Premium Yield Fund Series ETF (PYF.TO) is 1.18%, while Purpose Multi-Strategy Market Neutral Fund (PMM.TO) has a volatility of 2.01%. This indicates that PYF.TO experiences smaller price fluctuations and is considered to be less risky than PMM.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PYF.TOPMM.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

1.18%

2.01%

-0.83%

Volatility (6M)

Calculated over the trailing 6-month period

2.29%

6.27%

-3.98%

Volatility (1Y)

Calculated over the trailing 1-year period

3.20%

9.45%

-6.25%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

5.19%

9.76%

-4.57%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.67%

10.13%

-3.46%

Dividends

PYF.TO vs. PMM.TO - Dividend Comparison

PYF.TO's dividend yield for the trailing twelve months is around 7.36%, while PMM.TO has not paid dividends to shareholders.

PositionTTM2025202420232022202120202019201820172016
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%0.00%
PYF.TO
Purpose Premium Yield Fund Series ETF		7.36%7.84%7.66%7.47%5.78%5.74%5.69%5.29%5.38%5.83%6.59%

Frequently Asked Questions

PYF.TO and PMM.TO have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

PYF.TO is categorized as Diversified Portfolio, while PMM.TO is Long-Short.

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