CCAD.TO vs. CFRN.TO
CCAD.TO (CIBC Premium Cash Management ETF) and CFRN.TO (CIBC Active Investment Grade Floating Rate Bond ETF) are both exchange-traded funds - CCAD.TO is a Money Market fund actively managed by CIBC, while CFRN.TO is a Corporate Bonds fund actively managed by CIBC. Both are actively managed. Over the past year, CCAD.TO returned 2.54% vs 3.11% for CFRN.TO. At a 0.05 correlation, their price movements are largely independent.
Performance
CCAD.TO vs. CFRN.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CCAD.TO achieves a 1.26% return, which is significantly lower than CFRN.TO's 1.36% return.
CCAD.TO
- 1D
- 0.01%
- 1M
- 0.21%
- 6M
- 1.22%
- YTD
- 1.26%
- 1Y
- 2.54%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CFRN.TO
- 1D
- 0.00%
- 1M
- 0.20%
- 6M
- 1.31%
- YTD
- 1.36%
- 1Y
- 3.11%
- 3Y*
- 4.22%
- 5Y*
- 3.42%
- 10Y*
- —
CCAD.TO vs. CFRN.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CCAD.TO CIBC Premium Cash Management ETF | 1.26% | 1.69% |
CFRN.TO CIBC Active Investment Grade Floating Rate Bond ETF | 1.36% | 2.37% |
Correlation
The correlation between CCAD.TO and CFRN.TO is 0.07, 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 | 0.07 |
Correlation (All Time) Calculated using the full available price history since May 14, 2025 | 0.05 |
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Return for Risk
CCAD.TO vs. CFRN.TO — Risk / Return Rank
CCAD.TO
CFRN.TO
CCAD.TO vs. CFRN.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CIBC Premium Cash Management ETF (CCAD.TO) and CIBC Active Investment Grade Floating Rate Bond ETF (CFRN.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.
| CCAD.TO | CFRN.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +5.52 | ||
| Sortino ratioReturn per unit of downside risk | +13.74 | ||
| Omega ratioGain probability vs. loss probability | 3.96 | 1.57 | +2.39 |
| Calmar ratioReturn relative to maximum drawdown | 31.99 | 6.91 | +25.08 |
| Martin ratioReturn relative to average drawdown | 206.70 | 33.05 | +173.65 |
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Drawdowns
CCAD.TO vs. CFRN.TO - Drawdown Comparison
The maximum CCAD.TO drawdown since its inception was -0.08%, smaller than the maximum CFRN.TO drawdown of -1.00%. Use the drawdown chart below to compare losses from any high point for CCAD.TO and CFRN.TO.
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Drawdown Indicators
| CCAD.TO | CFRN.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.08% | -1.00% | +0.92% |
Max Drawdown (1Y)Largest decline over 1 year | -0.08% | -0.45% | +0.37% |
Max Drawdown (3Y)Largest decline over 3 years | — | -0.66% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -1.00% | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.01% | -0.15% | +0.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 0.09% | -0.08% |
Volatility
CCAD.TO vs. CFRN.TO - Volatility Comparison
The current volatility for CIBC Premium Cash Management ETF (CCAD.TO) is 0.05%, while CIBC Active Investment Grade Floating Rate Bond ETF (CFRN.TO) has a volatility of 0.21%. This indicates that CCAD.TO experiences smaller price fluctuations and is considered to be less risky than CFRN.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CCAD.TO | CFRN.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.05% | 0.21% | -0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 0.18% | 0.83% | -0.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.32% | 1.34% | -1.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.34% | 2.10% | -1.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.34% | 1.78% | -1.44% |
Dividends
CCAD.TO vs. CFRN.TO - Dividend Comparison
CCAD.TO's dividend yield for the trailing twelve months is around 2.57%, less than CFRN.TO's 3.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
CCAD.TO CIBC Premium Cash Management ETF | 2.57% | 1.62% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
CFRN.TO CIBC Active Investment Grade Floating Rate Bond ETF | 3.17% | 3.47% | 4.46% | 4.43% | 2.26% | 1.26% | 1.74% | 1.70% |
Frequently Asked Questions
CCAD.TO and CFRN.TO have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CCAD.TO is categorized as Money Market, while CFRN.TO is Corporate Bonds.
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