PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
HAL.TO vs. CASH.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HAL.TO vs. CASH.TO

Last updated Jun 4, 2026

HAL.TO (Global X Active Canadian Dividend ETF) and CASH.TO (Global X High Interest Savings ETF) are both exchange-traded funds - HAL.TO is a Canada Equities fund actively managed by Global X, while CASH.TO is a Money Market fund actively managed by Global X. Both are actively managed. Over the past 3 years, HAL.TO returned 21.26%/yr vs 3.62%/yr for CASH.TO. At a 0.02 correlation, their price movements are largely independent. HAL.TO charges 0.67%/yr vs 0.11%/yr for CASH.TO.

Performance

HAL.TO vs. CASH.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Active Canadian Dividend ETF (HAL.TO) and Global X High Interest Savings ETF (CASH.TO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, HAL.TO achieves a 17.28% return, which is significantly higher than CASH.TO's 0.83% return.

HAL.TO

1D
1.49%
1M
3.85%
YTD
17.28%
6M
20.97%
1Y
42.29%
3Y*
21.26%
5Y*
14.92%
10Y*
11.69%

CASH.TO

1D
0.00%
1M
0.15%
YTD
0.83%
6M
1.01%
1Y
2.22%
3Y*
3.62%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

HAL.TO vs. CASH.TO - Yearly Performance Comparison

2026 (YTD)20252024202320222021
HAL.TO
Global X Active Canadian Dividend ETF		17.28%24.60%21.69%-0.73%3.43%-0.38%
CASH.TO
Global X High Interest Savings ETF		0.83%2.45%4.53%5.11%2.39%0.08%

Correlation

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

0.02

Correlation (All Time)
Calculated using the full available price history since Nov 4, 2021

0.02

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Global X Active Canadian Dividend ETF

Global X High Interest Savings ETF

Often compared with HAL.TO:
HAL.TO vs. HXH.TOHAL.TO vs. HCA.TOHAL.TO vs. CFOU.TOHAL.TO vs. CBIL.TOHAL.TO vs. HBNK.TOHAL.TO vs. XCS.TOHAL.TO vs. HEWB.TO
Often compared with CASH.TO:
CASH.TO vs. ZMMK.TOCASH.TO vs. CBIL.TOCASH.TO vs. HSAV.TOCASH.TO vs. PSA.TOCASH.TO vs. CMR.TOCASH.TO vs. SGOVCASH.TO vs. TCSH.TO

Return for Risk

HAL.TO vs. CASH.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HAL.TO
HAL.TO Risk / Return Rank: 9696
Overall Rank
HAL.TO Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
HAL.TO Sortino Ratio Rank: 9797
Sortino Ratio Rank
HAL.TO Omega Ratio Rank: 9797
Omega Ratio Rank
HAL.TO Calmar Ratio Rank: 9595
Calmar Ratio Rank
HAL.TO Martin Ratio Rank: 9696
Martin Ratio Rank
CASH.TO
CASH.TO Risk / Return Rank: 100100
Overall Rank
CASH.TO Sharpe Ratio Rank: 9999
Sharpe Ratio Rank
CASH.TO Sortino Ratio Rank: 100100
Sortino Ratio Rank
CASH.TO Omega Ratio Rank: 100100
Omega Ratio Rank
CASH.TO Calmar Ratio Rank: 100100
Calmar Ratio Rank
CASH.TO Martin Ratio Rank: 100100
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.

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

This table presents a comparison of risk-adjusted performance metrics for Global X Active Canadian Dividend ETF (HAL.TO) 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.

HAL.TOCASH.TODifference
Sharpe ratioReturn per unit of total volatility
4.46
10.33

-5.87

Sortino ratioReturn per unit of downside risk
6.04
32.48

-26.45

Omega ratioGain probability vs. loss probability

1.93

7.47

-5.54

Calmar ratioReturn relative to maximum drawdown

8.26

111.49

-103.23

Martin ratioReturn relative to average drawdown

37.67

468.24

-430.57

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HAL.TO vs. CASH.TO - Sharpe Ratio Comparison

The current HAL.TO Sharpe Ratio is 4.46, which is lower than the CASH.TO Sharpe Ratio of 10.33. The chart below compares the historical Sharpe Ratios of HAL.TO 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.

Loading charts...

Sharpe Ratios by Period

HAL.TOCASH.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

4.46

10.33

-5.87

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.21

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.79

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.79

5.52

-4.73

Drawdowns

HAL.TO vs. CASH.TO - Drawdown Comparison

The maximum HAL.TO drawdown since its inception was -39.70%, which is greater than CASH.TO's maximum drawdown of -0.80%. Use the drawdown chart below to compare losses from any high point for HAL.TO and CASH.TO.

Loading charts...

Drawdown Indicators

HAL.TOCASH.TODifference

Max Drawdown

Largest peak-to-trough decline

-39.70%

-0.80%

-38.90%

Max Drawdown (1Y)

Largest decline over 1 year

-5.15%

-0.02%

-5.13%

Max Drawdown (3Y)

Largest decline over 3 years

-12.44%

-0.06%

-12.38%

Max Drawdown (5Y)

Largest decline over 5 years

-16.43%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-39.70%

—

—

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-4.19%

-0.00%

-4.19%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.13%

0.00%

+1.13%

Volatility

HAL.TO vs. CASH.TO - Volatility Comparison

Global X Active Canadian Dividend ETF (HAL.TO) has a higher volatility of 2.48% compared to Global X High Interest Savings ETF (CASH.TO) at 0.06%. This indicates that HAL.TO'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.

Loading charts...

Volatility by Period

HAL.TOCASH.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.48%

0.06%

+2.42%

Volatility (6M)

Calculated over the trailing 6-month period

7.85%

0.13%

+7.72%

Volatility (1Y)

Calculated over the trailing 1-year period

9.53%

0.22%

+9.31%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.36%

0.61%

+11.75%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.85%

0.61%

+14.24%

HAL.TO vs. CASH.TO - Expense Ratio Comparison

HAL.TO has a 0.67% expense ratio, which is higher than CASH.TO's 0.11% expense ratio.

Dividends

HAL.TO vs. CASH.TO - Dividend Comparison

HAL.TO's dividend yield for the trailing twelve months is around 1.97%, less than CASH.TO's 2.19% yield.

PositionTTM20252024202320222021202020192018201720162015
CASH.TO
Global X High Interest Savings ETF		2.19%2.53%4.37%5.06%2.30%0.10%0.00%0.00%0.00%0.00%0.00%0.00%
HAL.TO
Global X Active Canadian Dividend ETF		1.97%2.37%2.79%3.60%4.84%2.99%3.56%2.96%3.43%3.17%2.84%3.19%

Frequently Asked Questions

HAL.TO 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.

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.

CASH.TO is cheaper with a 0.11% expense ratio, compared with 0.67% for HAL.TO.

HAL.TO is categorized as Canada Equities, while CASH.TO is Money Market. Their fees differ too: 0.67% for HAL.TO and 0.11% for CASH.TO.

Portfolio Optimizer

Find the right allocation for HAL.TO and CASH.TO

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer