CASH.TO vs. SGOV
CASH.TO (Global X High Interest Savings ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - CASH.TO is a Money Market fund actively managed by Global X, while SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index. CASH.TO is actively managed, while SGOV is passively managed. Over the past 3 years, CASH.TO returned 3.56%/yr vs 7.32%/yr for SGOV. At a correlation of -0.01, they often move in opposite directions. CASH.TO charges 0.11%/yr vs 0.09%/yr for SGOV.
Performance
CASH.TO vs. SGOV - Performance Comparison
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Different Trading Currencies
CASH.TO is traded in CAD, while SGOV is traded in USD. To make them comparable, the SGOV values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, CASH.TO achieves a 0.95% return, which is significantly lower than SGOV's 5.20% return.
CASH.TO
- 1D
- 0.00%
- 1M
- 0.15%
- YTD
- 0.95%
- 6M
- 1.03%
- 1Y
- 2.21%
- 3Y*
- 3.56%
- 5Y*
- —
- 10Y*
- —
SGOV
- 1D
- -0.06%
- 1M
- 3.11%
- YTD
- 5.20%
- 6M
- 4.88%
- 1Y
- 7.13%
- 3Y*
- 7.32%
- 5Y*
- 6.54%
- 10Y*
- —
CASH.TO vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
CASH.TO Global X High Interest Savings ETF | 0.95% | 2.45% | 4.53% | 5.11% | 2.38% | 0.08% |
SGOV iShares 0-3 Month Treasury Bond ETF | 5.15% | -0.52% | 14.19% | 2.62% | 8.02% | 3.00% |
Correlation
The correlation between CASH.TO and SGOV is 0.05, 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 | 0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.00 |
Correlation (All Time) Calculated using the full available price history since Nov 3, 2021 | -0.01 |
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Return for Risk
CASH.TO vs. SGOV — Risk / Return Rank
CASH.TO
SGOV
CASH.TO vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X High Interest Savings ETF (CASH.TO) and iShares 0-3 Month Treasury Bond ETF (SGOV). 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.
| CASH.TO | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +7.84 | ||
| Sortino ratioReturn per unit of downside risk | +23.40 | ||
| Omega ratioGain probability vs. loss probability | 6.92 | 1.30 | +5.62 |
| Calmar ratioReturn relative to maximum drawdown | 111.05 | 1.92 | +109.13 |
| Martin ratioReturn relative to average drawdown | 381.96 | 5.24 | +376.72 |
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Drawdowns
CASH.TO vs. SGOV - Drawdown Comparison
The maximum CASH.TO drawdown since its inception was -0.80%, smaller than the maximum SGOV drawdown of -12.57%. Use the drawdown chart below to compare losses from any high point for CASH.TO and SGOV.
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Drawdown Indicators
| CASH.TO | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.80% | -12.57% | +11.77% |
Max Drawdown (1Y)Largest decline over 1 year | -0.02% | -3.73% | +3.71% |
Max Drawdown (3Y)Largest decline over 3 years | -0.06% | -6.33% | +6.27% |
Max Drawdown (5Y)Largest decline over 5 years | — | -6.33% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.06% | +0.06% |
Average DrawdownAverage peak-to-trough decline | -0.00% | -3.83% | +3.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 1.36% | -1.35% |
Volatility
CASH.TO vs. SGOV - Volatility Comparison
The current volatility for Global X High Interest Savings ETF (CASH.TO) is 0.05%, while iShares 0-3 Month Treasury Bond ETF (SGOV) has a volatility of 1.11%. This indicates that CASH.TO experiences smaller price fluctuations and is considered to be less risky than SGOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CASH.TO | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.05% | 1.11% | -1.06% |
Volatility (6M)Calculated over the trailing 6-month period | 0.15% | 3.30% | -3.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.23% | 4.43% | -4.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.61% | 6.26% | -5.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.61% | 6.34% | -5.73% |
CASH.TO vs. SGOV - Expense Ratio Comparison
CASH.TO has a 0.11% expense ratio, which is higher than SGOV's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
CASH.TO vs. SGOV - Dividend Comparison
CASH.TO's dividend yield for the trailing twelve months is around 2.19%, less than SGOV's 3.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
CASH.TO Global X High Interest Savings ETF | 2.19% | 2.53% | 4.37% | 5.05% | 2.30% | 0.10% | 0.00% |
SGOV iShares 0-3 Month Treasury Bond ETF | 3.85% | 4.10% | 5.10% | 4.87% | 1.45% | 0.03% | 0.05% |
Frequently Asked Questions
CASH.TO and SGOV have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SGOV is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SGOV is cheaper with a 0.09% expense ratio, compared with 0.11% for CASH.TO.
CASH.TO is categorized as Money Market, while SGOV is Ultrashort Bond. They also come from different issuers: Global X and iShares. Their fees differ too: 0.11% for CASH.TO and 0.09% for SGOV.
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