CMR.TO vs. TCSB.TO
CMR.TO (iShares Premium Money Market ETF) and TCSB.TO (TD Select Short Term Corporate Bond Ladder ETF) are both exchange-traded funds - CMR.TO is a Money Market fund actively managed by iShares, while TCSB.TO is a Short-Term Bond fund actively managed by TD. Both are actively managed. Over the past 5 years, CMR.TO returned 2.94%/yr vs 2.96%/yr for TCSB.TO. At a 0.01 correlation, their price movements are largely independent. CMR.TO charges 0.14%/yr vs 0.28%/yr for TCSB.TO.
Performance
CMR.TO vs. TCSB.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CMR.TO achieves a 0.97% return, which is significantly lower than TCSB.TO's 1.32% return.
CMR.TO
- 1D
- 0.00%
- 1M
- 0.19%
- YTD
- 0.97%
- 6M
- 1.05%
- 1Y
- 2.37%
- 3Y*
- 3.73%
- 5Y*
- 2.94%
- 10Y*
- 1.89%
TCSB.TO
- 1D
- 0.07%
- 1M
- 0.98%
- YTD
- 1.32%
- 6M
- 1.38%
- 1Y
- 4.07%
- 3Y*
- 5.91%
- 5Y*
- 2.96%
- 10Y*
- —
CMR.TO vs. TCSB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
CMR.TO iShares Premium Money Market ETF | 0.97% | 2.68% | 4.70% | 4.70% | 1.71% | 0.00% | 0.47% | 1.63% | 0.20% |
TCSB.TO TD Select Short Term Corporate Bond Ladder ETF | 1.32% | 4.71% | 6.89% | 6.95% | -4.39% | 0.15% | 5.36% | 5.72% | 0.13% |
Correlation
The correlation between CMR.TO and TCSB.TO is -0.09, 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 | -0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Nov 15, 2018 | 0.01 |
The correlation between CMR.TO and TCSB.TO shifts across timeframes, from -0.09 (1 year) to 0.04 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
CMR.TO vs. TCSB.TO — Risk / Return Rank
CMR.TO
TCSB.TO
CMR.TO vs. TCSB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Premium Money Market ETF (CMR.TO) and TD Select Short Term Corporate Bond Ladder ETF (TCSB.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.
| CMR.TO | TCSB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +8.73 | ||
| Sortino ratioReturn per unit of downside risk | +18.44 | ||
| Omega ratioGain probability vs. loss probability | 9.57 | 1.37 | +8.20 |
| Calmar ratioReturn relative to maximum drawdown | 25.44 | 2.49 | +22.95 |
| Martin ratioReturn relative to average drawdown | 187.33 | 10.64 | +176.69 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CMR.TO | TCSB.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 10.61 | 1.88 | +8.73 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 10.67 | 1.02 | +9.66 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 7.02 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 3.84 | 0.59 | +3.25 |
Drawdowns
CMR.TO vs. TCSB.TO - Drawdown Comparison
The maximum CMR.TO drawdown since its inception was -0.52%, smaller than the maximum TCSB.TO drawdown of -14.90%. Use the drawdown chart below to compare losses from any high point for CMR.TO and TCSB.TO.
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Drawdown Indicators
| CMR.TO | TCSB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.52% | -14.90% | +14.38% |
Max Drawdown (1Y)Largest decline over 1 year | -0.09% | -1.64% | +1.55% |
Max Drawdown (3Y)Largest decline over 3 years | -0.09% | -1.64% | +1.55% |
Max Drawdown (5Y)Largest decline over 5 years | -0.09% | -7.22% | +7.13% |
Max Drawdown (10Y)Largest decline over 10 years | -0.14% | — | — |
Current DrawdownCurrent decline from peak | -0.02% | 0.00% | -0.02% |
Average DrawdownAverage peak-to-trough decline | -0.01% | -1.32% | +1.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 0.38% | -0.37% |
Volatility
CMR.TO vs. TCSB.TO - Volatility Comparison
The current volatility for iShares Premium Money Market ETF (CMR.TO) is 0.05%, while TD Select Short Term Corporate Bond Ladder ETF (TCSB.TO) has a volatility of 0.67%. This indicates that CMR.TO experiences smaller price fluctuations and is considered to be less risky than TCSB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CMR.TO | TCSB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.05% | 0.67% | -0.62% |
Volatility (6M)Calculated over the trailing 6-month period | 0.18% | 1.77% | -1.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.22% | 2.18% | -1.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.28% | 2.93% | -2.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.27% | 5.94% | -5.67% |
CMR.TO vs. TCSB.TO - Expense Ratio Comparison
CMR.TO has a 0.14% expense ratio, which is lower than TCSB.TO's 0.28% expense ratio.
Dividends
CMR.TO vs. TCSB.TO - Dividend Comparison
CMR.TO's dividend yield for the trailing twelve months is around 2.48%, less than TCSB.TO's 3.66% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMR.TO iShares Premium Money Market ETF | 2.48% | 2.81% | 4.56% | 4.64% | 1.62% | 0.00% | 0.47% | 1.60% | 1.33% | 0.61% | 0.43% | 0.48% |
TCSB.TO TD Select Short Term Corporate Bond Ladder ETF | 3.66% | 3.65% | 4.89% | 4.97% | 2.72% | 2.37% | 3.84% | 3.00% | 0.06% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CMR.TO and TCSB.TO have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CMR.TO is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CMR.TO is cheaper with a 0.14% expense ratio, compared with 0.28% for TCSB.TO.
CMR.TO is categorized as Money Market, while TCSB.TO is Short-Term Bond. They also come from different issuers: iShares and TD. Their fees differ too: 0.14% for CMR.TO and 0.28% for TCSB.TO.
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