SBT.TO vs. MNY.TO
SBT.TO (Purpose Silver Bullion Fund) and MNY.TO (Purpose Cash Management Fund) are both exchange-traded funds - SBT.TO is a Silver fund tracking the LBMA Silver Price, while MNY.TO is a Money Market fund actively managed by Purpose Investments. SBT.TO is passively managed, while MNY.TO is actively managed. Over the past 3 years, SBT.TO returned 42.09%/yr vs 3.91%/yr for MNY.TO. At a correlation of -0.01, they often move in opposite directions. SBT.TO charges 0.36%/yr vs 0.22%/yr for MNY.TO.
Performance
SBT.TO vs. MNY.TO - Performance Comparison
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Returns By Period
In the year-to-date period, SBT.TO achieves a 2.24% return, which is significantly higher than MNY.TO's 0.95% return.
SBT.TO
- 1D
- -2.53%
- 1M
- 0.38%
- YTD
- 2.24%
- 6M
- 24.07%
- 1Y
- 105.34%
- 3Y*
- 42.09%
- 5Y*
- 18.84%
- 10Y*
- 13.84%
MNY.TO
- 1D
- 0.00%
- 1M
- 0.19%
- YTD
- 0.95%
- 6M
- 1.22%
- 1Y
- 2.59%
- 3Y*
- 3.91%
- 5Y*
- —
- 10Y*
- —
SBT.TO vs. MNY.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SBT.TO Purpose Silver Bullion Fund | 2.24% | 137.07% | 18.55% | -0.86% | 21.27% |
MNY.TO Purpose Cash Management Fund | 0.95% | 3.03% | 4.69% | 5.03% | 1.54% |
Correlation
The correlation between SBT.TO and MNY.TO is -0.03, 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 | -0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2022 | -0.01 |
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Return for Risk
SBT.TO vs. MNY.TO — Risk / Return Rank
SBT.TO
MNY.TO
SBT.TO vs. MNY.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Purpose Silver Bullion Fund (SBT.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.
| SBT.TO | MNY.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -14.28 | ||
| Sortino ratioReturn per unit of downside risk | -50.29 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 22.32 | -20.97 |
| Calmar ratioReturn relative to maximum drawdown | 2.48 | 65.02 | -62.53 |
| Martin ratioReturn relative to average drawdown | 5.33 | 605.87 | -600.54 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SBT.TO | MNY.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.80 | 16.08 | -14.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.52 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.21 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.21 | 11.02 | -10.81 |
Drawdowns
SBT.TO vs. MNY.TO - Drawdown Comparison
The maximum SBT.TO drawdown since its inception was -47.82%, 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 SBT.TO and MNY.TO.
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Drawdown Indicators
| SBT.TO | MNY.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.82% | -0.24% | -47.58% |
Max Drawdown (1Y)Largest decline over 1 year | -42.69% | -0.04% | -42.65% |
Max Drawdown (3Y)Largest decline over 3 years | -42.69% | -0.10% | -42.59% |
Max Drawdown (5Y)Largest decline over 5 years | -42.69% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -47.82% | — | — |
Current DrawdownCurrent decline from peak | -37.47% | 0.00% | -37.47% |
Average DrawdownAverage peak-to-trough decline | -16.92% | -0.00% | -16.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.84% | 0.00% | +19.84% |
Volatility
SBT.TO vs. MNY.TO - Volatility Comparison
Purpose Silver Bullion Fund (SBT.TO) has a higher volatility of 17.19% compared to Purpose Cash Management Fund (MNY.TO) at 0.03%. This indicates that SBT.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.
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Volatility by Period
| SBT.TO | MNY.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.19% | 0.03% | +17.16% |
Volatility (6M)Calculated over the trailing 6-month period | 57.92% | 0.12% | +57.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 59.01% | 0.16% | +58.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.64% | 0.37% | +36.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 66.58% | 0.37% | +66.21% |
SBT.TO vs. MNY.TO - Expense Ratio Comparison
SBT.TO has a 0.36% expense ratio, which is higher than MNY.TO's 0.22% expense ratio.
Dividends
SBT.TO vs. MNY.TO - Dividend Comparison
SBT.TO has not paid dividends to shareholders, while MNY.TO's dividend yield for the trailing twelve months is around 2.56%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
MNY.TO Purpose Cash Management Fund | 2.56% | 2.93% | 4.71% | 4.85% | 1.47% |
SBT.TO Purpose Silver Bullion Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SBT.TO and MNY.TO have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, MNY.TO is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MNY.TO is cheaper with a 0.22% expense ratio, compared with 0.36% for SBT.TO.
SBT.TO is categorized as Silver, while MNY.TO is Money Market. Their fees differ too: 0.36% for SBT.TO and 0.22% for MNY.TO.
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