CVRT vs. CASH.TO

Last updated Jun 14, 2026

CVRT (Calamos Convertible Equity Alternative ETF) and CASH.TO (Global X High Interest Savings ETF) are both exchange-traded funds - CVRT is a Convertible Bonds fund actively managed by Calamos, while CASH.TO is a Money Market fund actively managed by Global X. Both are actively managed. Over the past year, CVRT returned 70.87% vs -0.52% for CASH.TO. At a 0.08 correlation, their price movements are largely independent. CVRT charges 0.69%/yr vs 0.11%/yr for CASH.TO.

Performance

CVRT vs. CASH.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos Convertible Equity Alternative ETF (CVRT) and Global X High Interest Savings ETF (CASH.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

CVRT is traded in USD, while CASH.TO is traded in CAD. To make them comparable, the CASH.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, CVRT achieves a 35.47% return, which is significantly higher than CASH.TO's -1.09% return.

CVRT

• 1D: 1.03%
• 1M: 1.64%
• YTD: 35.47%
• 6M: 35.23%
• 1Y: 70.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CASH.TO

• 1D: -0.16%
• 1M: -1.63%
• YTD: -1.09%
• 6M: -0.39%
• 1Y: -0.52%
• 3Y*: 2.07%
• 5Y*: —
• 10Y*: —

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

CVRT vs. CASH.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CVRT Calamos Convertible Equity Alternative ETF	35.47%	29.37%	13.23%	11.44%
CASH.TO Global X High Interest Savings ETF	-1.09%	7.36%	-3.63%	4.69%

Correlation

The correlation between CVRT and CASH.TO is 0.01, 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	0.01
Correlation (All Time) Calculated using the full available price history since Oct 4, 2023	0.08

Return for Risk

CVRT vs. CASH.TO — Risk / Return Rank

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

CVRT

CVRT Risk / Return Rank: 93
CVRT Sharpe Ratio Rank: 94
CVRT Sortino Ratio Rank: 90
CVRT Omega Ratio Rank: 91
CVRT Calmar Ratio Rank: 96
CVRT Martin Ratio Rank: 96

CASH.TO

CASH.TO Risk / Return Rank: 99
CASH.TO Sharpe Ratio Rank: 99
CASH.TO Sortino Ratio Rank: 99
CASH.TO Omega Ratio Rank: 99
CASH.TO Calmar Ratio Rank: 100
CASH.TO Martin Ratio Rank: 100

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.

CVRT vs. CASH.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Convertible Equity Alternative ETF (CVRT) and Global X High Interest Savings ETF (CASH.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.

	CVRT	CASH.TO	Difference
Sharpe ratio: Return per unit of total volatility	3.10	0.00	+3.10
Sortino ratio: Return per unit of downside risk	3.73	0.04	+3.70
Omega ratio: Gain probability vs. loss probability	1.52	1.00	+0.51
Calmar ratio: Return relative to maximum drawdown	8.08	0.00	+8.07
Martin ratio: Return relative to average drawdown	28.81	0.01	+28.80

CVRT vs. CASH.TO - Sharpe Ratio Comparison

The current CVRT Sharpe Ratio is 3.10, which is higher than the CASH.TO Sharpe Ratio of 0.00. The chart below compares the historical Sharpe Ratios of CVRT and CASH.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.

Drawdowns

CVRT vs. CASH.TO - Drawdown Comparison

The maximum CVRT drawdown since its inception was -20.71%, which is greater than CASH.TO's maximum drawdown of -9.29%. Use the drawdown chart below to compare losses from any high point for CVRT and CASH.TO.

Drawdown Indicators

	CVRT	CASH.TO	Difference
Max Drawdown Largest peak-to-trough decline	-20.71%	-9.29%	-11.42%
Max Drawdown (1Y) Largest decline over 1 year	-8.60%	-3.03%	-5.57%
Max Drawdown (3Y) Largest decline over 3 years	—	-7.69%	—
Current Drawdown Current decline from peak	-5.00%	-2.71%	-2.29%
Average Drawdown Average peak-to-trough decline	-3.09%	-2.80%	-0.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.41%	1.57%	+0.84%

Volatility

CVRT vs. CASH.TO - Volatility Comparison

Calamos Convertible Equity Alternative ETF (CVRT) has a higher volatility of 9.05% compared to Global X High Interest Savings ETF (CASH.TO) at 0.76%. This indicates that CVRT's price experiences larger fluctuations and is considered to be riskier than CASH.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CVRT	CASH.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.05%	0.76%	+8.29%
Volatility (6M) Calculated over the trailing 6-month period	18.78%	3.22%	+15.56%
Volatility (1Y) Calculated over the trailing 1-year period	22.44%	4.41%	+18.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.24%	6.24%	+14.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.24%	6.24%	+14.00%

CVRT vs. CASH.TO - Expense Ratio Comparison

CVRT has a 0.69% expense ratio, which is higher than CASH.TO's 0.11% expense ratio.

Dividends

CVRT vs. CASH.TO - Dividend Comparison

CVRT's dividend yield for the trailing twelve months is around 1.48%, less than CASH.TO's 2.19% yield.

Position	TTM	2025	2024	2023	2022	2021
CASH.TO Global X High Interest Savings ETF	2.19%	2.53%	4.37%	5.05%	2.30%	0.10%
CVRT Calamos Convertible Equity Alternative ETF	1.48%	1.68%	1.49%	0.32%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CVRT and CASH.TO in my portfolio?

CVRT and CASH.TO have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CVRT or CASH.TO?

On fees, CASH.TO is cheaper at 0.11% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CVRT or CASH.TO?

CASH.TO is cheaper with a 0.11% expense ratio, compared with 0.69% for CVRT.

What is the main difference between CVRT and CASH.TO?

CVRT is categorized as Convertible Bonds, while CASH.TO is Money Market. They also come from different issuers: Calamos and Global X. Their fees differ too: 0.69% for CVRT and 0.11% for CASH.TO.