CASH.TO vs. UCSH-U.TO

Last updated Jul 18, 2026

CASH.TO (Global X High Interest Savings ETF) and UCSH-U.TO (Global X USD High Interest Savings ETF) are both Money Market funds from Global X. Both are actively managed. Over the past year, CASH.TO returned 2.23% vs 6.21% for UCSH-U.TO. At a correlation of -0.01, they often move in opposite directions.

Performance

CASH.TO vs. UCSH-U.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X High Interest Savings ETF (CASH.TO) and Global X USD High Interest Savings ETF (UCSH-U.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

CASH.TO is traded in CAD, while UCSH-U.TO is traded in USD. To make them comparable, the UCSH-U.TO 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 1.12% return, which is significantly lower than UCSH-U.TO's 4.23% return.

CASH.TO

• 1D: 0.04%
• 1M: 0.21%
• 6M: 1.04%
• YTD: 1.12%
• 1Y: 2.23%
• 3Y*: 3.51%
• 5Y*: —
• 10Y*: —

UCSH-U.TO

• 1D: -0.12%
• 1M: 0.45%
• 6M: 2.65%
• YTD: 4.23%
• 1Y: 6.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CASH.TO vs. UCSH-U.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CASH.TO Global X High Interest Savings ETF	1.12%	2.45%	4.21%
UCSH-U.TO Global X USD High Interest Savings ETF	4.23%	-0.59%	11.69%

Correlation

The correlation between CASH.TO and UCSH-U.TO 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 (All Time) Calculated using the full available price history since Jan 24, 2024	-0.01

Return for Risk

CASH.TO vs. UCSH-U.TO — Risk / Return Rank

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

CASH.TO

CASH.TO Risk / Return Rank: 100
CASH.TO Sharpe Ratio Rank: 99
CASH.TO Sortino Ratio Rank: 99
CASH.TO Omega Ratio Rank: 99
CASH.TO Calmar Ratio Rank: 100
CASH.TO Martin Ratio Rank: 100

UCSH-U.TO

UCSH-U.TO Risk / Return Rank: 100
UCSH-U.TO Sharpe Ratio Rank: 100
UCSH-U.TO Sortino Ratio Rank: 100
UCSH-U.TO Omega Ratio Rank: 100
UCSH-U.TO Calmar Ratio Rank: 100
UCSH-U.TO Martin Ratio Rank: 100

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.

CASH.TO vs. UCSH-U.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X High Interest Savings ETF (CASH.TO) and Global X USD High Interest Savings ETF (UCSH-U.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.

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	UCSH-U.TO	Difference
Sharpe ratio: Return per unit of total volatility	9.56	1.42	+8.14
Sortino ratio: Return per unit of downside risk	26.56	1.99	+24.58
Omega ratio: Gain probability vs. loss probability	7.29	1.26	+6.03
Calmar ratio: Return relative to maximum drawdown	111.68	1.65	+110.02
Martin ratio: Return relative to average drawdown	393.47	4.49	+388.98

CASH.TO vs. UCSH-U.TO - Sharpe Ratio Comparison

The current CASH.TO Sharpe Ratio is 9.56, which is higher than the UCSH-U.TO Sharpe Ratio of 1.42. The chart below compares the historical Sharpe Ratios of CASH.TO and UCSH-U.TO, 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

CASH.TO vs. UCSH-U.TO - Drawdown Comparison

The maximum CASH.TO drawdown since its inception was -0.80%, smaller than the maximum UCSH-U.TO drawdown of -6.35%. Use the drawdown chart below to compare losses from any high point for CASH.TO and UCSH-U.TO.

Drawdown Indicators

	CASH.TO	UCSH-U.TO	Difference
Max Drawdown Largest peak-to-trough decline	-0.80%	-6.35%	+5.55%
Max Drawdown (1Y) Largest decline over 1 year	-0.02%	-3.77%	+3.75%
Max Drawdown (3Y) Largest decline over 3 years	-0.06%	—	—
Current Drawdown Current decline from peak	0.00%	-1.29%	+1.29%
Average Drawdown Average peak-to-trough decline	-0.00%	-1.97%	+1.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.01%	1.38%	-1.37%

Volatility

CASH.TO vs. UCSH-U.TO - Volatility Comparison

The current volatility for Global X High Interest Savings ETF (CASH.TO) is 0.07%, while Global X USD High Interest Savings ETF (UCSH-U.TO) has a volatility of 1.31%. This indicates that CASH.TO experiences smaller price fluctuations and is considered to be less risky than UCSH-U.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CASH.TO	UCSH-U.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.07%	1.31%	-1.24%
Volatility (6M) Calculated over the trailing 6-month period	0.15%	3.30%	-3.15%
Volatility (1Y) Calculated over the trailing 1-year period	0.24%	4.38%	-4.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.61%	5.32%	-4.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.61%	5.32%	-4.71%

Dividends

CASH.TO vs. UCSH-U.TO - Dividend Comparison

CASH.TO's dividend yield for the trailing twelve months is around 2.12%, less than UCSH-U.TO's 3.65% yield.

Position	TTM	2025	2024	2023	2022	2021
CASH.TO Global X High Interest Savings ETF	2.12%	2.53%	4.37%	5.05%	2.30%	0.10%
UCSH-U.TO Global X USD High Interest Savings ETF	3.65%	4.04%	4.71%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CASH.TO and UCSH-U.TO in my portfolio?

CASH.TO and UCSH-U.TO 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.