CNCC.TO vs. TCSB.TO

Last updated Jun 5, 2026

CNCC.TO (Global X Canadian S&P/TSX 60 Covered Call ETF) and TCSB.TO (TD Select Short Term Corporate Bond Ladder ETF) are both exchange-traded funds - CNCC.TO is a Options Trading fund tracking the S&P/TSX 60, while TCSB.TO is a Short-Term Bond fund actively managed by TD. CNCC.TO is passively managed, while TCSB.TO is actively managed. Over the past 5 years, CNCC.TO returned 10.50%/yr vs 2.96%/yr for TCSB.TO. At a 0.10 correlation, their price movements are largely independent.

Performance

CNCC.TO vs. TCSB.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Canadian S&P/TSX 60 Covered Call ETF (CNCC.TO) and TD Select Short Term Corporate Bond Ladder ETF (TCSB.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CNCC.TO achieves a 8.83% return, which is significantly higher than TCSB.TO's 1.32% return.

CNCC.TO

• 1D: 0.84%
• 1M: 4.57%
• YTD: 8.83%
• 6M: 9.65%
• 1Y: 24.66%
• 3Y*: 16.11%
• 5Y*: 10.50%
• 10Y*: 8.55%

TCSB.TO

• 1D: 0.00%
• 1M: 0.98%
• YTD: 1.32%
• 6M: 1.44%
• 1Y: 4.07%
• 3Y*: 5.98%
• 5Y*: 2.96%
• 10Y*: —

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

CNCC.TO vs. TCSB.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
CNCC.TO Global X Canadian S&P/TSX 60 Covered Call ETF	8.83%	19.53%	14.81%	7.07%	-4.03%	30.41%	-5.31%	9.89%	-5.08%
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 CNCC.TO and TCSB.TO is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (5Y) Calculated over the trailing 5-year period	0.14
Correlation (All Time) Calculated using the full available price history since Nov 15, 2018	0.10

Over the past year, CNCC.TO and TCSB.TO have become more correlated (0.35) than their long-term average of 0.10, meaning their price movements have been converging.

Return for Risk

CNCC.TO vs. TCSB.TO — Risk / Return Rank

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

CNCC.TO

CNCC.TO Risk / Return Rank: 85
CNCC.TO Sharpe Ratio Rank: 84
CNCC.TO Sortino Ratio Rank: 84
CNCC.TO Omega Ratio Rank: 87
CNCC.TO Calmar Ratio Rank: 79
CNCC.TO Martin Ratio Rank: 89

TCSB.TO

TCSB.TO Risk / Return Rank: 58
TCSB.TO Sharpe Ratio Rank: 56
TCSB.TO Sortino Ratio Rank: 57
TCSB.TO Omega Ratio Rank: 62
TCSB.TO Calmar Ratio Rank: 51
TCSB.TO Martin Ratio Rank: 61

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.

CNCC.TO vs. TCSB.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Canadian S&P/TSX 60 Covered Call ETF (CNCC.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.

	CNCC.TO	TCSB.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.70	1.88	+0.82
Sortino ratio: Return per unit of downside risk	3.69	2.69	+1.00
Omega ratio: Gain probability vs. loss probability	1.54	1.37	+0.16
Calmar ratio: Return relative to maximum drawdown	4.01	2.49	+1.52
Martin ratio: Return relative to average drawdown	20.02	10.64	+9.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CNCC.TO vs. TCSB.TO - Sharpe Ratio Comparison

The current CNCC.TO Sharpe Ratio is 2.70, which is higher than the TCSB.TO Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of CNCC.TO and TCSB.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.

Sharpe Ratios by Period

	CNCC.TO	TCSB.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.70	1.88	+0.82
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.85	1.02	-0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.00	0.59	-0.59

Drawdowns

CNCC.TO vs. TCSB.TO - Drawdown Comparison

The maximum CNCC.TO drawdown since its inception was -38.22%, which is greater than TCSB.TO's maximum drawdown of -14.90%. Use the drawdown chart below to compare losses from any high point for CNCC.TO and TCSB.TO.

Drawdown Indicators

	CNCC.TO	TCSB.TO	Difference
Max Drawdown Largest peak-to-trough decline	-38.22%	-14.90%	-23.32%
Max Drawdown (1Y) Largest decline over 1 year	-6.18%	-1.64%	-4.54%
Max Drawdown (3Y) Largest decline over 3 years	-11.11%	-1.64%	-9.47%
Max Drawdown (5Y) Largest decline over 5 years	-16.01%	-7.22%	-8.79%
Max Drawdown (10Y) Largest decline over 10 years	-38.22%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-6.17%	-1.32%	-4.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.23%	0.38%	+0.85%

Volatility

CNCC.TO vs. TCSB.TO - Volatility Comparison

Global X Canadian S&P/TSX 60 Covered Call ETF (CNCC.TO) has a higher volatility of 2.58% compared to TD Select Short Term Corporate Bond Ladder ETF (TCSB.TO) at 0.67%. This indicates that CNCC.TO's price experiences larger fluctuations and is considered to be riskier than TCSB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CNCC.TO	TCSB.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.58%	0.67%	+1.91%
Volatility (6M) Calculated over the trailing 6-month period	7.71%	1.77%	+5.94%
Volatility (1Y) Calculated over the trailing 1-year period	9.17%	2.18%	+6.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.45%	2.93%	+9.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.79%	5.94%	+8.85%

Dividends

CNCC.TO vs. TCSB.TO - Dividend Comparison

CNCC.TO's dividend yield for the trailing twelve months is around 6.95%, more than TCSB.TO's 3.66% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CNCC.TO Global X Canadian S&P/TSX 60 Covered Call ETF	6.95%	7.59%	9.68%	10.07%	9.93%	5.28%	5.53%	5.33%	6.06%	5.52%	5.24%	8.54%
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

Can I hold both CNCC.TO and TCSB.TO in my portfolio?

CNCC.TO and TCSB.TO have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between CNCC.TO and TCSB.TO?

CNCC.TO is categorized as Options Trading, while TCSB.TO is Short-Term Bond. They also come from different issuers: Global X and TD.