CBIL.TO vs. HSUV-U.TO

Last updated Jun 4, 2026

CBIL.TO (Global X 0-3 Month T-Bill ETF) and HSUV-U.TO (Global X USD Cash Maximizer Corporate Class ETF) are both exchange-traded funds - CBIL.TO is a Canadian Government Bonds fund actively managed by Global X, while HSUV-U.TO is a Money Market fund actively managed by Global X. Both are actively managed. Over the past 3 years, CBIL.TO returned 3.63%/yr vs 5.79%/yr for HSUV-U.TO. At a 0.03 correlation, their price movements are largely independent. CBIL.TO charges 0.10%/yr vs 0.18%/yr for HSUV-U.TO.

Performance

CBIL.TO vs. HSUV-U.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X 0-3 Month T-Bill ETF (CBIL.TO) and Global X USD Cash Maximizer Corporate Class ETF (HSUV-U.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

CBIL.TO is traded in CAD, while HSUV-U.TO is traded in USD. To make them comparable, the HSUV-U.TO values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, CBIL.TO achieves a 0.85% return, which is significantly lower than HSUV-U.TO's 2.74% return.

CBIL.TO

• 1D: 0.02%
• 1M: 0.20%
• YTD: 0.85%
• 6M: 1.08%
• 1Y: 2.34%
• 3Y*: 3.63%
• 5Y*: —
• 10Y*: —

HSUV-U.TO

• 1D: 0.48%
• 1M: 2.55%
• YTD: 2.74%
• 6M: 1.46%
• 1Y: 5.10%
• 3Y*: 5.79%
• 5Y*: 6.53%
• 10Y*: —

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

CBIL.TO vs. HSUV-U.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CBIL.TO Global X 0-3 Month T-Bill ETF	0.85%	2.68%	4.47%	3.36%
HSUV-U.TO Global X USD Cash Maximizer Corporate Class ETF	2.74%	-0.73%	13.87%	3.24%

Correlation

The correlation between CBIL.TO and HSUV-U.TO is 0.01, 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	0.01
Correlation (3Y) Calculated over the trailing 3-year period	0.04
Correlation (All Time) Calculated using the full available price history since Apr 17, 2023	0.03

Return for Risk

CBIL.TO vs. HSUV-U.TO — Risk / Return Rank

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

CBIL.TO

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

HSUV-U.TO

HSUV-U.TO Risk / Return Rank: 95
HSUV-U.TO Sharpe Ratio Rank: 91
HSUV-U.TO Sortino Ratio Rank: 94
HSUV-U.TO Omega Ratio Rank: 95
HSUV-U.TO Calmar Ratio Rank: 97
HSUV-U.TO Martin Ratio Rank: 96

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.

CBIL.TO vs. HSUV-U.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X 0-3 Month T-Bill ETF (CBIL.TO) and Global X USD Cash Maximizer Corporate Class ETF (HSUV-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.

	CBIL.TO	HSUV-U.TO	Difference
Sharpe ratio: Return per unit of total volatility	9.47	1.06	+8.41
Sortino ratio: Return per unit of downside risk	23.59	1.47	+22.12
Omega ratio: Gain probability vs. loss probability	5.38	1.19	+4.20
Calmar ratio: Return relative to maximum drawdown	58.74	1.32	+57.42
Martin ratio: Return relative to average drawdown	339.60	3.73	+335.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CBIL.TO vs. HSUV-U.TO - Sharpe Ratio Comparison

The current CBIL.TO Sharpe Ratio is 9.47, which is higher than the HSUV-U.TO Sharpe Ratio of 1.06. The chart below compares the historical Sharpe Ratios of CBIL.TO and HSUV-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.

Sharpe Ratios by Period

	CBIL.TO	HSUV-U.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	9.47	1.06	+8.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.02	—
Sharpe Ratio (All Time) Calculated using the full available price history	11.64	0.54	+11.09

Drawdowns

CBIL.TO vs. HSUV-U.TO - Drawdown Comparison

The maximum CBIL.TO drawdown since its inception was -0.06%, smaller than the maximum HSUV-U.TO drawdown of -11.40%. Use the drawdown chart below to compare losses from any high point for CBIL.TO and HSUV-U.TO.

Drawdown Indicators

	CBIL.TO	HSUV-U.TO	Difference
Max Drawdown Largest peak-to-trough decline	-0.06%	-11.40%	+11.34%
Max Drawdown (1Y) Largest decline over 1 year	-0.04%	-3.88%	+3.84%
Max Drawdown (3Y) Largest decline over 3 years	-0.06%	-5.55%	+5.49%
Max Drawdown (5Y) Largest decline over 5 years	—	-5.55%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.00%	-3.24%	+3.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.01%	1.37%	-1.36%

Volatility

CBIL.TO vs. HSUV-U.TO - Volatility Comparison

The current volatility for Global X 0-3 Month T-Bill ETF (CBIL.TO) is 0.08%, while Global X USD Cash Maximizer Corporate Class ETF (HSUV-U.TO) has a volatility of 0.79%. This indicates that CBIL.TO experiences smaller price fluctuations and is considered to be less risky than HSUV-U.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CBIL.TO	HSUV-U.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.08%	0.79%	-0.71%
Volatility (6M) Calculated over the trailing 6-month period	0.19%	3.64%	-3.45%
Volatility (1Y) Calculated over the trailing 1-year period	0.25%	4.82%	-4.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.31%	6.42%	-6.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.31%	6.41%	-6.10%

CBIL.TO vs. HSUV-U.TO - Expense Ratio Comparison

CBIL.TO has a 0.10% expense ratio, which is lower than HSUV-U.TO's 0.18% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

CBIL.TO vs. HSUV-U.TO - Dividend Comparison

CBIL.TO's dividend yield for the trailing twelve months is around 2.29%, while HSUV-U.TO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
CBIL.TO Global X 0-3 Month T-Bill ETF	2.29%	2.59%	4.38%	3.39%
HSUV-U.TO Global X USD Cash Maximizer Corporate Class ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CBIL.TO and HSUV-U.TO in my portfolio?

CBIL.TO and HSUV-U.TO have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CBIL.TO or HSUV-U.TO?

On fees, CBIL.TO is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CBIL.TO or HSUV-U.TO?

CBIL.TO is cheaper with a 0.10% expense ratio, compared with 0.18% for HSUV-U.TO.

What is the main difference between CBIL.TO and HSUV-U.TO?

CBIL.TO is categorized as Canadian Government Bonds, while HSUV-U.TO is Money Market. Their fees differ too: 0.10% for CBIL.TO and 0.18% for HSUV-U.TO.