RATE.TO vs. PMNT.TO
RATE.TO (Arrow EC Income Advantage Alternative Fund) and PMNT.TO (PIMCO Global Short Maturity Fund (Canada)) are both exchange-traded funds - RATE.TO is a Investment Grade Bonds fund actively managed by Arrow Capital Management Inc., while PMNT.TO is a Ultrashort Bond fund actively managed by PIMCO. Both are actively managed. Over the past 5 years, RATE.TO returned 4.83%/yr vs 2.97%/yr for PMNT.TO. Their 0.05 correlation means their historical movements had little consistent relationship. RATE.TO charges 2.01%/yr vs 0.39%/yr for PMNT.TO.
Performance
RATE.TO vs. PMNT.TO - Performance Comparison
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Returns By Period
In the year-to-date period, RATE.TO achieves a 1.38% return, which is significantly lower than PMNT.TO's 1.69% return.
RATE.TO
- 1D
- -0.19%
- 1M
- 0.00%
- 6M
- 1.13%
- YTD
- 1.38%
- 1Y
- 2.80%
- 3Y*
- 5.22%
- 5Y*
- 4.83%
- 10Y*
- —
- ALL TIME*
- 4.08%
PMNT.TO
- 1D
- 0.05%
- 1M
- 0.15%
- 6M
- 1.46%
- YTD
- 1.69%
- 1Y
- 3.01%
- 3Y*
- 4.13%
- 5Y*
- 2.97%
- 10Y*
- —
- ALL TIME*
- 2.53%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$78.37K | CA$50.53K | CA$54.61K | |
| CA$63.23K | CA$64.17K | CA$66.35K |
RATE.TO vs. PMNT.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
RATE.TO Arrow EC Income Advantage Alternative Fund | 1.38% | 4.60% | 5.59% | 10.12% | 2.34% | 2.46% | 3.49% | 4.41% |
PMNT.TO PIMCO Global Short Maturity Fund (Canada) | 1.69% | 3.11% | 5.26% | 5.42% | -0.37% | 0.35% | 1.21% | 2.41% |
Correlation
The correlation between RATE.TO and PMNT.TO is 0.08, 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. | 0.08 |
Correlation (3Y) Balances recent behavior with more history. | 0.06 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.05 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2019 | 0.05 |
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Return for Risk
RATE.TO vs. PMNT.TO — Risk / Return Rank
RATE.TO
PMNT.TO
RATE.TO vs. PMNT.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Arrow EC Income Advantage Alternative Fund (RATE.TO) and PIMCO Global Short Maturity Fund (Canada) (PMNT.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.
| RATE.TO | PMNT.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.51 | ||
| Sortino ratioReturn per unit of downside risk | -0.69 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.45 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 3.56 | 4.80 | -1.23 |
| Martin ratioReturn relative to average drawdown | 11.80 | 15.95 | -4.15 |
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Drawdowns
RATE.TO vs. PMNT.TO - Drawdown Comparison
The maximum RATE.TO drawdown since its inception was -14.01%, which is greater than PMNT.TO's maximum drawdown of -6.81%. Use the drawdown chart below to compare losses from any high point for RATE.TO and PMNT.TO.
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Drawdown Indicators
| RATE.TO | PMNT.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.01% | -6.81% | -7.20% |
Max Drawdown (1Y)Largest decline over 1 year | -0.80% | -0.63% | -0.17% |
Max Drawdown (3Y)Largest decline over 3 years | -2.78% | -1.15% | -1.63% |
Max Drawdown (5Y)Largest decline over 5 years | -3.38% | -1.94% | -1.44% |
Current DrawdownCurrent decline from peak | -0.23% | 0.00% | -0.23% |
Average DrawdownAverage peak-to-trough decline | -0.84% | -0.36% | -0.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.24% | 0.19% | +0.05% |
Volatility
RATE.TO vs. PMNT.TO - Volatility Comparison
Arrow EC Income Advantage Alternative Fund (RATE.TO) has a higher volatility of 0.66% compared to PIMCO Global Short Maturity Fund (Canada) (PMNT.TO) at 0.28%. This indicates that RATE.TO's price experiences larger fluctuations and is considered to be riskier than PMNT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RATE.TO | PMNT.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.66% | 0.28% | +0.38% |
Volatility (6M)Calculated over the trailing 6-month period | 1.58% | 0.71% | +0.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.25% | 1.70% | +0.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.05% | 2.13% | +1.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.73% | 3.18% | +2.55% |
RATE.TO vs. PMNT.TO - Expense Ratio Comparison
RATE.TO has a 2.01% expense ratio, which is higher than PMNT.TO's 0.39% expense ratio.
Dividends
RATE.TO vs. PMNT.TO - Dividend Comparison
RATE.TO's dividend yield for the trailing twelve months is around 4.66%, more than PMNT.TO's 4.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
PMNT.TO PIMCO Global Short Maturity Fund (Canada) | 4.38% | 4.65% | 5.48% | 4.92% | 2.60% | 1.17% | 2.68% | 2.09% | 0.00% |
RATE.TO Arrow EC Income Advantage Alternative Fund | 4.66% | 4.60% | 4.69% | 4.74% | 4.11% | 3.52% | 2.98% | 2.99% | 2.32% |
Frequently Asked Questions
RATE.TO and PMNT.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.
On fees, PMNT.TO is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PMNT.TO is cheaper with a 0.39% expense ratio, compared with 2.01% for RATE.TO.
RATE.TO is categorized as Investment Grade Bonds, while PMNT.TO is Ultrashort Bond. They also come from different issuers: Arrow Capital Management Inc. and PIMCO. Their fees differ too: 2.01% for RATE.TO and 0.39% for PMNT.TO.
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