^CASHX vs. ELCV

Last updated Jun 13, 2026

^CASHX (US Money Market Index) is an index, while ELCV (Eventide High Dividend ETF) is Large Cap Value Equities fund actively managed by Eventide. Over the past year, ^CASHX returned 3.87% vs 32.38% for ELCV. At a correlation of -0.07, they often move in opposite directions.

Performance

^CASHX vs. ELCV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in US Money Market Index (^CASHX) and Eventide High Dividend ETF (ELCV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ^CASHX achieves a 1.60% return, which is significantly lower than ELCV's 22.21% return.

^CASHX

• 1D: 0.01%
• 1M: 0.26%
• YTD: 1.60%
• 6M: 1.77%
• 1Y: 3.87%
• 3Y*: 4.63%
• 5Y*: 3.53%
• 10Y*: 2.32%

ELCV

• 1D: 0.94%
• 1M: 3.52%
• YTD: 22.21%
• 6M: 21.66%
• 1Y: 32.38%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

^CASHX vs. ELCV - Yearly Performance Comparison

	2026 (YTD)	2025	2024
^CASHX US Money Market Index	1.60%	4.21%	1.15%
ELCV Eventide High Dividend ETF	22.21%	9.96%	-0.64%

Correlation

The correlation between ^CASHX and ELCV is -0.06, 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	-0.06
Correlation (All Time) Calculated using the full available price history since Oct 1, 2024	-0.07

Return for Risk

^CASHX vs. ELCV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

^CASHX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

ELCV

ELCV Risk / Return Rank: 90
ELCV Sharpe Ratio Rank: 89
ELCV Sortino Ratio Rank: 88
ELCV Omega Ratio Rank: 86
ELCV Calmar Ratio Rank: 94
ELCV Martin Ratio Rank: 93

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.

^CASHX vs. ELCV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for US Money Market Index (^CASHX) and Eventide High Dividend ETF (ELCV). 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.

	^CASHX	ELCV	Difference
Sharpe ratio: Return per unit of total volatility	259.86	2.64	+257.23
Sortino ratio: Return per unit of downside risk	—	3.56	—
Omega ratio: Gain probability vs. loss probability	—	1.46	—
Calmar ratio: Return relative to maximum drawdown	—	6.18	—
Martin ratio: Return relative to average drawdown	—	21.66	—

^CASHX vs. ELCV - Sharpe Ratio Comparison

The current ^CASHX Sharpe Ratio is 259.86, which is higher than the ELCV Sharpe Ratio of 2.64. The chart below compares the historical Sharpe Ratios of ^CASHX and ELCV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

^CASHX vs. ELCV - Drawdown Comparison

The maximum ^CASHX drawdown since its inception was 0.00%, smaller than the maximum ELCV drawdown of -18.38%. Use the drawdown chart below to compare losses from any high point for ^CASHX and ELCV.

Drawdown Indicators

	^CASHX	ELCV	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-18.38%	+18.38%
Max Drawdown (1Y) Largest decline over 1 year	0.00%	-5.05%	+5.05%
Max Drawdown (3Y) Largest decline over 3 years	0.00%	—	—
Max Drawdown (5Y) Largest decline over 5 years	0.00%	—	—
Max Drawdown (10Y) Largest decline over 10 years	0.00%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	0.00%	-3.70%	+3.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	1.45%	-1.45%

Volatility

^CASHX vs. ELCV - Volatility Comparison

The current volatility for US Money Market Index (^CASHX) is 0.00%, while Eventide High Dividend ETF (ELCV) has a volatility of 4.47%. This indicates that ^CASHX experiences smaller price fluctuations and is considered to be less risky than ELCV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	^CASHX	ELCV	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.00%	4.47%	-4.47%
Volatility (6M) Calculated over the trailing 6-month period	0.00%	9.21%	-9.21%
Volatility (1Y) Calculated over the trailing 1-year period	0.01%	11.89%	-11.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.08%	15.48%	-15.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.08%	15.48%	-15.40%

Frequently Asked Questions

Can I hold both ^CASHX and ELCV in my portfolio?

^CASHX and ELCV have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ^CASHX or ELCV?

ELCV has higher volatility (4.47%) compared to ^CASHX (0.00%). In terms of maximum drawdown, ^CASHX dropped 0.00% vs ELCV's -18.38%.

Which has better risk-adjusted returns?

^CASHX currently has the higher Sharpe Ratio (259.86 vs 2.64), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.