A side-by-side comparison of Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund (BANK) and Picton Mahoney Fortified Market Neutral Alternative Fund ETF (PFMN) to help Canadian investors make an informed decision.
1-Year Performance
Normalised to 100 at the start — shows relative return over the trailing 12 months.
Head-to-Head Comparison
| Metric | BANK | PFMN |
|---|---|---|
| YTD Return | +14.42%✓ | -0.53% |
| 1-Day Change | -4.22% | -0.34%✓ |
| 1-Week Change | -4.80% | -0.16%✓ |
| 1-Month Change | +0.45%✓ | -2.23% |
| Current Price | $11.11 | $16.00 |
| AUM | $1.32B✓ | $698M |
| MER (Expense Ratio) | 60% | — |
| Dividend Yield | 14.58%✓ | 0.83% |
| Distribution Frequency | Monthly | — |
| Inception Date | 2022-02-01 | 2019-07-12 |
| Holdings Count | 9 | 6 |
| MorningStar Rating | — | — |
| Category | Long/Short & Market Neutral | Long/Short & Market Neutral |
| Beta | 0.00 | 0.00 |
| 52-Week High | $11.64 | $16.75 |
| 52-Week Low | $7.76 | $15.70 |
| 50-Day MA | $11.32 | $16.21 |
| 200-Day MA | $10.75 | $16.24 |
✓ marks the better value for return/yield/AUM metrics. Lower ✓ for MER.
Annualised Returns
| Period | BANK | PFMN |
|---|---|---|
| YTD | +14.42%✓ | -0.53% |
| 1 Year | +45.41%✓ | -0.40% |
| 3 Year | +41.40%✓ | +6.39% |
| 5 Year | +0.00% | +5.39%✓ |
| 10 Year | +0.00% | — |
| 1Y Volatility | 16.18% | 4.87% |
| Sharpe Ratio (3Y) | 2.36 | 0.87 |
Past performance is not a guarantee of future results.
Top 10 Holdings
| 1 | BNS | Bank of Nova Scotia | 12.63% |
| 2 | TD | Toronto Dominion Bank | 12.92% |
| 3 | GWO | Great-West Lifeco Inc. | 11.86% |
| 4 | POW | Power Corporation Of Canada | 12.30% |
| 5 | SLF | Sun Life Financial Inc. | 12.03% |
| 6 | RY | Royal Bank of Canada | 11.96% |
| 7 | MFC | Manulife Financial Corp | 12.62% |
| 8 | CM | Canadian Imperial Bank Of Commerce | 11.84% |
| 9 | NA | National Bank of Canada | 12.28% |
| 1 | XIC | iShares Core S&P/TSX Capped Composite | 15.52% |
| 2 | RY | Royal Bank of Canada | 5.88% |
| 3 | IVV | iShares Core S&P 500 ETF | 5.01% |
| 4 | TD | Toronto Dominion Bank | 3.97% |
| 5 | NVDA | NVIDIA Corporation | 2.83% |
| 6 | VTI | Vanguard Total Stock Market Index Fund ETF Shares | 2.65% |
Sector Weights
| Sector | BANK | PFMN |
|---|---|---|
| Basic Materials | 0.00% | 9.56% |
| Communication Services | 0.00% | 3.61% |
| Consumer Cyclicals | 0.00% | 7.51% |
| Consumer Defensive | 0.00% | 3.21% |
| Energy | 0.00% | 8.88% |
| Financial Services | 100.00% | 25.72% |
| Healthcare | 0.00% | 5.83% |
| Industrials | 0.00% | 12.41% |
| Real Estate | 0.00% | 2.94% |
| Technology | 0.00% | 18.20% |
| Utilities | 0.00% | 4.14% |
About BANK
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About PFMN
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Which ETF is Right for You?
Both BANK and PFMN are listed on Canadian exchanges and accessible through most Canadian brokerages including Questrade, Wealthsimple Trade, TD Direct, and Interactive Brokers.
Based on the available data, BANK scores higher across our tracked metrics including YTD performance, dividend yield, and AUM — though both ETFs warrant individual research before investing.
- Consider your account type (TFSA, RRSP, non-registered) as it can affect dividend taxation.
- Compare management expense ratios (MER) directly on each provider's website.
- Look at average daily trading volume to assess liquidity.
- Review the fund's underlying index and holdings to ensure the exposure matches your goals.
This is not financial advice. Always do your own research or consult a licensed financial advisor before investing.
Frequently Asked Questions
What is the difference between BANK and PFMN?
BANK (Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund) and PFMN (Picton Mahoney Fortified Market Neutral Alternative Fund ETF) are both Canadian-listed ETFs. Key differences include their AUM ($1.32B vs $698M), dividend yield (14.58% vs 0.83%), and year-to-date performance (+14.42% vs -0.53%).
Is BANK better than PFMN?
There is no single "better" ETF — it depends on your investment goals. If you prioritise recent performance, BANK has outperformed year-to-date. Always review the fund's prospectus and consider your tax situation.
Can I buy BANK and PFMN on Wealthsimple?
Most Canadian-listed ETFs are available on Wealthsimple Trade commission-free. Both BANK and PFMN should be accessible. Check Wealthsimple's supported tickers list to confirm availability.
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