BND.TO vs. CASH.TO
BND.TO (Purpose Global Bond Fund) and CASH.TO (Global X High Interest Savings ETF) are both exchange-traded funds - BND.TO is a fund fund, while CASH.TO is a Money Market fund actively managed by Global X. Over the past 3 years, BND.TO returned 7.22%/yr vs 3.62%/yr for CASH.TO. At a correlation of -0.04, they often move in opposite directions.
Performance
BND.TO vs. CASH.TO - Performance Comparison
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Returns By Period
In the year-to-date period, BND.TO achieves a 0.89% return, which is significantly higher than CASH.TO's 0.83% return.
BND.TO
- 1D
- -0.28%
- 1M
- 0.77%
- YTD
- 0.89%
- 6M
- 1.18%
- 1Y
- 6.14%
- 3Y*
- 7.22%
- 5Y*
- 3.27%
- 10Y*
- 3.00%
CASH.TO
- 1D
- 0.00%
- 1M
- 0.15%
- YTD
- 0.83%
- 6M
- 1.01%
- 1Y
- 2.22%
- 3Y*
- 3.62%
- 5Y*
- —
- 10Y*
- —
BND.TO vs. CASH.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BND.TO Purpose Global Bond Fund | 0.89% | 7.23% | 7.49% | 8.45% | -7.80% | 0.16% |
CASH.TO Global X High Interest Savings ETF | 0.83% | 2.45% | 4.53% | 5.11% | 2.39% | 0.08% |
Correlation
The correlation between BND.TO and CASH.TO is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since Nov 4, 2021 | -0.04 |
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Return for Risk
BND.TO vs. CASH.TO — Risk / Return Rank
BND.TO
CASH.TO
BND.TO vs. CASH.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Purpose Global Bond Fund (BND.TO) and Global X High Interest Savings ETF (CASH.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.
| BND.TO | CASH.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -8.31 | ||
| Sortino ratioReturn per unit of downside risk | -29.55 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 7.47 | -6.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.17 | 111.49 | -109.32 |
| Martin ratioReturn relative to average drawdown | 8.87 | 468.24 | -459.37 |
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
| BND.TO | CASH.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.02 | 10.33 | -8.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.64 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.59 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.61 | 5.52 | -4.90 |
Drawdowns
BND.TO vs. CASH.TO - Drawdown Comparison
The maximum BND.TO drawdown since its inception was -16.55%, which is greater than CASH.TO's maximum drawdown of -0.80%. Use the drawdown chart below to compare losses from any high point for BND.TO and CASH.TO.
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Drawdown Indicators
| BND.TO | CASH.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.55% | -0.80% | -15.75% |
Max Drawdown (1Y)Largest decline over 1 year | -2.84% | -0.02% | -2.82% |
Max Drawdown (3Y)Largest decline over 3 years | -4.46% | -0.06% | -4.40% |
Max Drawdown (5Y)Largest decline over 5 years | -12.23% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -16.55% | — | — |
Current DrawdownCurrent decline from peak | -0.45% | 0.00% | -0.45% |
Average DrawdownAverage peak-to-trough decline | -2.07% | -0.00% | -2.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.69% | 0.00% | +0.69% |
Volatility
BND.TO vs. CASH.TO - Volatility Comparison
Purpose Global Bond Fund (BND.TO) has a higher volatility of 1.35% compared to Global X High Interest Savings ETF (CASH.TO) at 0.06%. This indicates that BND.TO's price experiences larger fluctuations and is considered to be riskier than CASH.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BND.TO | CASH.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.35% | 0.06% | +1.29% |
Volatility (6M)Calculated over the trailing 6-month period | 2.52% | 0.13% | +2.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.06% | 0.22% | +2.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.10% | 0.61% | +4.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.15% | 0.61% | +4.54% |
Dividends
BND.TO vs. CASH.TO - Dividend Comparison
BND.TO's dividend yield for the trailing twelve months is around 5.86%, more than CASH.TO's 2.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BND.TO Purpose Global Bond Fund | 5.86% | 5.70% | 5.24% | 5.20% | 4.14% | 3.89% | 3.48% | 3.11% | 3.96% | 3.47% | 3.26% | 0.53% |
CASH.TO Global X High Interest Savings ETF | 2.19% | 2.53% | 4.37% | 5.06% | 2.30% | 0.10% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BND.TO and CASH.TO have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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