CCAD.TO vs. HISA.NEO

Last updated Jun 4, 2026

CCAD.TO (CIBC Premium Cash Management ETF) and HISA.NEO (Evolve High Interest Savings Account ETF) are both Money Market funds. Both are actively managed. Over the past year, CCAD.TO returned 2.58% vs 2.01% for HISA.NEO. At a 0.04 correlation, their price movements are largely independent. CCAD.TO charges 0.14%/yr vs 0.15%/yr for HISA.NEO.

Performance

CCAD.TO vs. HISA.NEO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in CIBC Premium Cash Management ETF (CCAD.TO) and Evolve High Interest Savings Account ETF (HISA.NEO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CCAD.TO achieves a 0.98% return, which is significantly higher than HISA.NEO's 0.60% return.

CCAD.TO

• 1D: 0.02%
• 1M: 0.20%
• YTD: 0.98%
• 6M: 1.20%
• 1Y: 2.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HISA.NEO

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.60%
• 6M: 0.80%
• 1Y: 2.01%
• 3Y*: 3.11%
• 5Y*: 2.77%
• 10Y*: —

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

CCAD.TO vs. HISA.NEO - Yearly Performance Comparison

	2026 (YTD)	2025
CCAD.TO CIBC Premium Cash Management ETF	0.98%	1.69%
HISA.NEO Evolve High Interest Savings Account ETF	0.60%	1.55%

Correlation

The correlation between CCAD.TO and HISA.NEO is 0.04, 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	0.04
Correlation (All Time) Calculated using the full available price history since May 15, 2025	0.04

Return for Risk

CCAD.TO vs. HISA.NEO — Risk / Return Rank

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

CCAD.TO

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

HISA.NEO

HISA.NEO Risk / Return Rank: 86
HISA.NEO Sharpe Ratio Rank: 86
HISA.NEO Sortino Ratio Rank: 94
HISA.NEO Omega Ratio Rank: 99
HISA.NEO Calmar Ratio Rank: 53
HISA.NEO Martin Ratio Rank: 94

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.

CCAD.TO vs. HISA.NEO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CIBC Premium Cash Management ETF (CCAD.TO) and Evolve High Interest Savings Account ETF (HISA.NEO). 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.

	CCAD.TO	HISA.NEO	Difference
Sharpe ratio: Return per unit of total volatility	7.29	2.87	+4.42
Sortino ratio: Return per unit of downside risk	15.09	5.03	+10.07
Omega ratio: Gain probability vs. loss probability	3.66	5.25	-1.59
Calmar ratio: Return relative to maximum drawdown	32.50	2.62	+29.88
Martin ratio: Return relative to average drawdown	171.24	27.66	+143.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CCAD.TO vs. HISA.NEO - Sharpe Ratio Comparison

The current CCAD.TO Sharpe Ratio is 7.29, which is higher than the HISA.NEO Sharpe Ratio of 2.87. The chart below compares the historical Sharpe Ratios of CCAD.TO and HISA.NEO, 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

	CCAD.TO	HISA.NEO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	7.29	2.87	+4.42
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	2.78	—
Sharpe Ratio (All Time) Calculated using the full available price history	7.34	2.35	+4.99

Drawdowns

CCAD.TO vs. HISA.NEO - Drawdown Comparison

The maximum CCAD.TO drawdown since its inception was -0.08%, smaller than the maximum HISA.NEO drawdown of -0.42%. Use the drawdown chart below to compare losses from any high point for CCAD.TO and HISA.NEO.

Drawdown Indicators

	CCAD.TO	HISA.NEO	Difference
Max Drawdown Largest peak-to-trough decline	-0.08%	-0.42%	+0.34%
Max Drawdown (1Y) Largest decline over 1 year	-0.08%	-0.18%	+0.10%
Max Drawdown (3Y) Largest decline over 3 years	—	-0.42%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-0.42%	—
Current Drawdown Current decline from peak	0.00%	-0.02%	+0.02%
Average Drawdown Average peak-to-trough decline	-0.01%	-0.01%	0.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.02%	0.01%	+0.01%

Volatility

CCAD.TO vs. HISA.NEO - Volatility Comparison

CIBC Premium Cash Management ETF (CCAD.TO) has a higher volatility of 0.06% compared to Evolve High Interest Savings Account ETF (HISA.NEO) at 0.03%. This indicates that CCAD.TO's price experiences larger fluctuations and is considered to be riskier than HISA.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CCAD.TO	HISA.NEO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.06%	0.03%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	0.19%	0.08%	+0.11%
Volatility (1Y) Calculated over the trailing 1-year period	0.36%	0.36%	0.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.35%	0.46%	-0.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.35%	0.47%	-0.12%

CCAD.TO vs. HISA.NEO - Expense Ratio Comparison

CCAD.TO has a 0.14% expense ratio, which is lower than HISA.NEO's 0.15% 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

CCAD.TO vs. HISA.NEO - Dividend Comparison

CCAD.TO's dividend yield for the trailing twelve months is around 2.63%, more than HISA.NEO's 2.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
CCAD.TO CIBC Premium Cash Management ETF	2.63%	1.62%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HISA.NEO Evolve High Interest Savings Account ETF	2.27%	2.32%	3.65%	4.60%	2.22%	0.52%	0.84%	0.76%

Frequently Asked Questions

Can I hold both CCAD.TO and HISA.NEO in my portfolio?

CCAD.TO and HISA.NEO have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CCAD.TO or HISA.NEO?

On fees, CCAD.TO is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CCAD.TO or HISA.NEO?

CCAD.TO is cheaper with a 0.14% expense ratio, compared with 0.15% for HISA.NEO.

What is the main difference between CCAD.TO and HISA.NEO?

They also come from different issuers: CIBC and Evolve. Their fees differ too: 0.14% for CCAD.TO and 0.15% for HISA.NEO.