ZMMK.TO vs. MNY.TO
ZMMK.TO (BMO Money Market Fund ETF Series) and MNY.TO (Purpose Cash Management Fund) are both Money Market funds. Both are actively managed. Over the past 3 years, ZMMK.TO returned 3.86%/yr vs 3.91%/yr for MNY.TO. At a 0.08 correlation, their price movements are largely independent. ZMMK.TO charges 0.13%/yr vs 0.22%/yr for MNY.TO.
Performance
ZMMK.TO vs. MNY.TO - Performance Comparison
Loading charts...
Returns By Period
The year-to-date returns for both stocks are quite close, with ZMMK.TO having a 0.99% return and MNY.TO slightly lower at 0.96%.
ZMMK.TO
- 1D
- 0.04%
- 1M
- 0.19%
- YTD
- 0.99%
- 6M
- 1.17%
- 1Y
- 2.50%
- 3Y*
- 3.86%
- 5Y*
- —
- 10Y*
- —
MNY.TO
- 1D
- 0.00%
- 1M
- 0.19%
- YTD
- 0.96%
- 6M
- 1.21%
- 1Y
- 2.59%
- 3Y*
- 3.91%
- 5Y*
- —
- 10Y*
- —
ZMMK.TO vs. MNY.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ZMMK.TO BMO Money Market Fund ETF Series | 0.99% | 2.77% | 4.94% | 4.86% | 1.19% |
MNY.TO Purpose Cash Management Fund | 0.96% | 3.03% | 4.69% | 5.03% | 1.54% |
Correlation
The correlation between ZMMK.TO and MNY.TO is 0.08, 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 | 0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2022 | 0.08 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ZMMK.TO vs. MNY.TO — Risk / Return Rank
ZMMK.TO
MNY.TO
ZMMK.TO vs. MNY.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Money Market Fund ETF Series (ZMMK.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.
| ZMMK.TO | MNY.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -6.45 | ||
| Sortino ratioReturn per unit of downside risk | -28.30 | ||
| Omega ratioGain probability vs. loss probability | 5.48 | 22.36 | -16.87 |
| Calmar ratioReturn relative to maximum drawdown | 83.57 | 65.14 | +18.43 |
| Martin ratioReturn relative to average drawdown | 380.38 | 607.07 | -226.69 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| ZMMK.TO | MNY.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 9.68 | 16.13 | -6.45 |
Sharpe Ratio (All Time)Calculated using the full available price history | 10.31 | 11.02 | -0.71 |
Drawdowns
ZMMK.TO vs. MNY.TO - Drawdown Comparison
The maximum ZMMK.TO drawdown since its inception was -0.16%, smaller than the maximum MNY.TO drawdown of -0.24%. Use the drawdown chart below to compare losses from any high point for ZMMK.TO and MNY.TO.
Loading charts...
Drawdown Indicators
| ZMMK.TO | MNY.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.16% | -0.24% | +0.08% |
Max Drawdown (1Y)Largest decline over 1 year | -0.03% | -0.04% | +0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -0.08% | -0.10% | +0.02% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.00% | -0.00% | 0.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 0.00% | +0.01% |
Volatility
ZMMK.TO vs. MNY.TO - Volatility Comparison
BMO Money Market Fund ETF Series (ZMMK.TO) has a higher volatility of 0.06% compared to Purpose Cash Management Fund (MNY.TO) at 0.03%. This indicates that ZMMK.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.
Loading charts...
Volatility by Period
| ZMMK.TO | MNY.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.06% | 0.03% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 0.18% | 0.12% | +0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.26% | 0.16% | +0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.34% | 0.37% | -0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.34% | 0.37% | -0.03% |
ZMMK.TO vs. MNY.TO - Expense Ratio Comparison
ZMMK.TO has a 0.13% expense ratio, which is lower than MNY.TO's 0.22% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
ZMMK.TO vs. MNY.TO - Dividend Comparison
ZMMK.TO's dividend yield for the trailing twelve months is around 2.53%, less than MNY.TO's 2.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
MNY.TO Purpose Cash Management Fund | 2.56% | 2.93% | 4.71% | 4.85% | 1.47% | 0.00% |
ZMMK.TO BMO Money Market Fund ETF Series | 2.53% | 3.02% | 4.66% | 4.98% | 1.95% | 0.04% |
Frequently Asked Questions
ZMMK.TO and MNY.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, ZMMK.TO is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZMMK.TO is cheaper with a 0.13% expense ratio, compared with 0.22% for MNY.TO.
They also come from different issuers: BMO and Purpose Investments. Their fees differ too: 0.13% for ZMMK.TO and 0.22% for MNY.TO.
Find the right allocation for ZMMK.TO and MNY.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer