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CFRN.TO vs. TUSB.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CFRN.TO vs. TUSB.TO

Last updated Jul 16, 2026
Documentation

CFRN.TO (CIBC Active Investment Grade Floating Rate Bond ETF) and TUSB.TO (TD Select U.S. Short Term Corporate Bond Ladder ETF) are both exchange-traded funds - CFRN.TO is a Corporate Bonds fund actively managed by CIBC, while TUSB.TO is a Short-Term Bond fund actively managed by TD. Both are actively managed. Over the past 5 years, CFRN.TO returned 3.42%/yr vs 5.41%/yr for TUSB.TO. At a 0.03 correlation, their price movements are largely independent.

Performance

CFRN.TO vs. TUSB.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in CIBC Active Investment Grade Floating Rate Bond ETF (CFRN.TO) and TD Select U.S. Short Term Corporate Bond Ladder ETF (TUSB.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, CFRN.TO achieves a 1.36% return, which is significantly lower than TUSB.TO's 3.41% return.

CFRN.TO

1D
0.00%
1M
0.20%
6M
1.31%
YTD
1.36%
1Y
3.11%
3Y*
4.22%
5Y*
3.42%
10Y*
—

TUSB.TO

1D
-0.21%
1M
0.48%
6M
1.98%
YTD
3.41%
1Y
6.93%
3Y*
7.96%
5Y*
5.41%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

CFRN.TO vs. TUSB.TO - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
CFRN.TO
CIBC Active Investment Grade Floating Rate Bond ETF		1.36%3.32%5.21%5.83%1.40%0.25%1.04%1.97%
TUSB.TO
TD Select U.S. Short Term Corporate Bond Ladder ETF		3.41%2.39%14.59%3.52%1.39%-2.53%3.22%4.07%

Correlation

The correlation between CFRN.TO and TUSB.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 (3Y)
Calculated over the trailing 3-year period

-0.01

Correlation (5Y)
Calculated over the trailing 5-year period

0.02

Correlation (All Time)
Calculated using the full available price history since Jan 16, 2019

0.03

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CIBC Active Investment Grade Floating Rate Bond ETF

TD Select U.S. Short Term Corporate Bond Ladder ETF

Return for Risk

CFRN.TO vs. TUSB.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CFRN.TO
CFRN.TO Risk / Return Rank: 9494
Overall Rank
CFRN.TO Sharpe Ratio Rank: 8989
Sharpe Ratio Rank
CFRN.TO Sortino Ratio Rank: 9292
Sortino Ratio Rank
CFRN.TO Omega Ratio Rank: 9494
Omega Ratio Rank
CFRN.TO Calmar Ratio Rank: 9696
Calmar Ratio Rank
CFRN.TO Martin Ratio Rank: 9797
Martin Ratio Rank
TUSB.TO
TUSB.TO Risk / Return Rank: 5050
Overall Rank
TUSB.TO Sharpe Ratio Rank: 5555
Sharpe Ratio Rank
TUSB.TO Sortino Ratio Rank: 5858
Sortino Ratio Rank
TUSB.TO Omega Ratio Rank: 5555
Omega Ratio Rank
TUSB.TO Calmar Ratio Rank: 4545
Calmar Ratio Rank
TUSB.TO Martin Ratio Rank: 3838
Martin Ratio Rank
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.

CFRN.TO vs. TUSB.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CIBC Active Investment Grade Floating Rate Bond ETF (CFRN.TO) and TD Select U.S. Short Term Corporate Bond Ladder ETF (TUSB.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.

CFRN.TOTUSB.TODifference
Sharpe ratioReturn per unit of total volatility
2.35
1.54

+0.81

Sortino ratioReturn per unit of downside risk
3.69
2.26

+1.43

Omega ratioGain probability vs. loss probability

1.57

1.28

+0.29

Calmar ratioReturn relative to maximum drawdown

6.91

1.92

+4.98

Martin ratioReturn relative to average drawdown

33.05

4.86

+28.18

CFRN.TO vs. TUSB.TO - Sharpe Ratio Comparison

The current CFRN.TO Sharpe Ratio is 2.35, which is higher than the TUSB.TO Sharpe Ratio of 1.54. The chart below compares the historical Sharpe Ratios of CFRN.TO and TUSB.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.

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Drawdowns

CFRN.TO vs. TUSB.TO - Drawdown Comparison

The maximum CFRN.TO drawdown since its inception was -1.00%, smaller than the maximum TUSB.TO drawdown of -11.97%. Use the drawdown chart below to compare losses from any high point for CFRN.TO and TUSB.TO.

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Drawdown Indicators

CFRN.TOTUSB.TODifference

Max Drawdown

Largest peak-to-trough decline

-1.00%

-11.97%

+10.97%

Max Drawdown (1Y)

Largest decline over 1 year

-0.45%

-3.62%

+3.17%

Max Drawdown (3Y)

Largest decline over 3 years

-0.66%

-5.20%

+4.54%

Max Drawdown (5Y)

Largest decline over 5 years

-1.00%

-7.56%

+6.56%

Current Drawdown

Current decline from peak

0.00%

-1.37%

+1.37%

Average Drawdown

Average peak-to-trough decline

-0.15%

-3.46%

+3.31%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.09%

1.43%

-1.34%

Volatility

CFRN.TO vs. TUSB.TO - Volatility Comparison

The current volatility for CIBC Active Investment Grade Floating Rate Bond ETF (CFRN.TO) is 0.21%, while TD Select U.S. Short Term Corporate Bond Ladder ETF (TUSB.TO) has a volatility of 1.23%. This indicates that CFRN.TO experiences smaller price fluctuations and is considered to be less risky than TUSB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CFRN.TOTUSB.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

0.21%

1.23%

-1.02%

Volatility (6M)

Calculated over the trailing 6-month period

0.83%

3.37%

-2.54%

Volatility (1Y)

Calculated over the trailing 1-year period

1.34%

4.53%

-3.19%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

2.10%

6.53%

-4.43%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

1.78%

6.72%

-4.94%

Dividends

CFRN.TO vs. TUSB.TO - Dividend Comparison

CFRN.TO's dividend yield for the trailing twelve months is around 3.17%, less than TUSB.TO's 4.57% yield.

PositionTTM20252024202320222021202020192018
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%0.00%
TUSB.TO
TD Select U.S. Short Term Corporate Bond Ladder ETF		4.57%5.05%4.92%5.35%3.54%3.43%5.07%4.48%0.55%

Frequently Asked Questions

CFRN.TO and TUSB.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.

CFRN.TO is categorized as Corporate Bonds, while TUSB.TO is Short-Term Bond. They also come from different issuers: CIBC and TD.

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