CBIL.TO vs. UCSH-U.TO
CBIL.TO (Global X 0-3 Month T-Bill ETF) and UCSH-U.TO (Global X USD High Interest Savings ETF) are both exchange-traded funds - CBIL.TO is a Canadian Government Bonds fund actively managed by Global X, while UCSH-U.TO is a Money Market fund actively managed by Global X. Both are actively managed. Over the past year, CBIL.TO returned 2.31% vs 6.21% for UCSH-U.TO. At a 0.02 correlation, their price movements are largely independent.
Performance
CBIL.TO vs. UCSH-U.TO - Performance Comparison
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Different Trading Currencies
CBIL.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, CBIL.TO achieves a 1.14% return, which is significantly lower than UCSH-U.TO's 4.23% return.
CBIL.TO
- 1D
- 0.02%
- 1M
- 0.18%
- 6M
- 1.08%
- YTD
- 1.14%
- 1Y
- 2.31%
- 3Y*
- 3.54%
- 5Y*
- —
- 10Y*
- —
UCSH-U.TO
- 1D
- -0.12%
- 1M
- 0.45%
- 6M
- 2.65%
- YTD
- 4.23%
- 1Y
- 6.21%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CBIL.TO vs. UCSH-U.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
CBIL.TO Global X 0-3 Month T-Bill ETF | 1.14% | 2.68% | 4.22% |
UCSH-U.TO Global X USD High Interest Savings ETF | 4.23% | -0.59% | 11.69% |
Correlation
The correlation between CBIL.TO and UCSH-U.TO is -0.02, 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 | -0.02 |
Correlation (All Time) Calculated using the full available price history since Jan 24, 2024 | 0.02 |
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Return for Risk
CBIL.TO vs. UCSH-U.TO — Risk / Return Rank
CBIL.TO
UCSH-U.TO
CBIL.TO vs. UCSH-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 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.
| CBIL.TO | UCSH-U.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +7.54 | ||
| Sortino ratioReturn per unit of downside risk | +18.92 | ||
| Omega ratioGain probability vs. loss probability | 5.33 | 1.26 | +4.07 |
| Calmar ratioReturn relative to maximum drawdown | 58.06 | 1.65 | +56.40 |
| Martin ratioReturn relative to average drawdown | 315.36 | 4.49 | +310.87 |
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Drawdowns
CBIL.TO vs. UCSH-U.TO - Drawdown Comparison
The maximum CBIL.TO drawdown since its inception was -0.06%, smaller than the maximum UCSH-U.TO drawdown of -6.35%. Use the drawdown chart below to compare losses from any high point for CBIL.TO and UCSH-U.TO.
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Drawdown Indicators
| CBIL.TO | UCSH-U.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.06% | -6.35% | +6.29% |
Max Drawdown (1Y)Largest decline over 1 year | -0.04% | -3.77% | +3.73% |
Max Drawdown (3Y)Largest decline over 3 years | -0.06% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.29% | +1.29% |
Average DrawdownAverage peak-to-trough decline | -0.00% | -1.97% | +1.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 1.38% | -1.37% |
Volatility
CBIL.TO vs. UCSH-U.TO - Volatility Comparison
The current volatility for Global X 0-3 Month T-Bill ETF (CBIL.TO) is 0.07%, while Global X USD High Interest Savings ETF (UCSH-U.TO) has a volatility of 1.31%. This indicates that CBIL.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.
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Volatility by Period
| CBIL.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 | 0.18% | 3.30% | -3.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.26% | 4.38% | -4.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.32% | 5.32% | -5.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.32% | 5.32% | -5.00% |
Dividends
CBIL.TO vs. UCSH-U.TO - Dividend Comparison
CBIL.TO's dividend yield for the trailing twelve months is around 2.24%, less than UCSH-U.TO's 3.65% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
CBIL.TO Global X 0-3 Month T-Bill ETF | 2.24% | 2.58% | 4.38% | 3.39% |
UCSH-U.TO Global X USD High Interest Savings ETF | 3.65% | 4.04% | 4.71% | 0.00% |
Frequently Asked Questions
CBIL.TO and UCSH-U.TO have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CBIL.TO is categorized as Canadian Government Bonds, while UCSH-U.TO is Money Market.
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