HISA.NEO vs. CBIL.TO

Last updated Jul 16, 2026

HISA.NEO (Evolve High Interest Savings Account ETF) and CBIL.TO (Global X 0-3 Month T-Bill ETF) are both exchange-traded funds - HISA.NEO is a Money Market fund actively managed by Evolve, while CBIL.TO is a Canadian Government Bonds fund actively managed by Global X. Both are actively managed. Over the past 3 years, HISA.NEO returned 3.56%/yr vs 3.54%/yr for CBIL.TO. At a 0.17 correlation, their price movements are largely independent. HISA.NEO charges 0.15%/yr vs 0.10%/yr for CBIL.TO.

Performance

HISA.NEO vs. CBIL.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Evolve High Interest Savings Account ETF (HISA.NEO) and Global X 0-3 Month T-Bill ETF (CBIL.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with HISA.NEO having a 1.08% return and CBIL.TO slightly higher at 1.10%.

HISA.NEO

• 1D: 0.00%
• 1M: 0.16%
• 6M: 1.04%
• YTD: 1.08%
• 1Y: 2.22%
• 3Y*: 3.56%
• 5Y*: 3.17%
• 10Y*: —

CBIL.TO

• 1D: 0.00%
• 1M: 0.16%
• 6M: 1.08%
• YTD: 1.10%
• 1Y: 2.29%
• 3Y*: 3.54%
• 5Y*: —
• 10Y*: —

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

HISA.NEO vs. CBIL.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
HISA.NEO Evolve High Interest Savings Account ETF	1.08%	2.54%	4.58%	3.72%
CBIL.TO Global X 0-3 Month T-Bill ETF	1.10%	2.68%	4.47%	3.36%

Correlation

The correlation between HISA.NEO and CBIL.TO is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (All Time) Calculated using the full available price history since Apr 14, 2023	0.17

Return for Risk

HISA.NEO vs. CBIL.TO — Risk / Return Rank

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

HISA.NEO

HISA.NEO Risk / Return Rank: 99
HISA.NEO Sharpe Ratio Rank: 99
HISA.NEO Sortino Ratio Rank: 98
HISA.NEO Omega Ratio Rank: 99
HISA.NEO Calmar Ratio Rank: 98
HISA.NEO Martin Ratio Rank: 99

CBIL.TO

CBIL.TO Risk / Return Rank: 99
CBIL.TO Sharpe Ratio Rank: 99
CBIL.TO Sortino Ratio Rank: 99
CBIL.TO Omega Ratio Rank: 99
CBIL.TO Calmar Ratio Rank: 99
CBIL.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.

HISA.NEO vs. CBIL.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Evolve High Interest Savings Account ETF (HISA.NEO) and Global X 0-3 Month T-Bill ETF (CBIL.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.

	HISA.NEO	CBIL.TO	Difference
Sharpe ratio: Return per unit of total volatility	5.35	8.89	-3.54
Sortino ratio: Return per unit of downside risk	8.51	20.73	-12.22
Omega ratio: Gain probability vs. loss probability	5.50	5.30	+0.21
Calmar ratio: Return relative to maximum drawdown	12.41	57.55	-45.13
Martin ratio: Return relative to average drawdown	102.69	312.57	-209.88

HISA.NEO vs. CBIL.TO - Sharpe Ratio Comparison

The current HISA.NEO Sharpe Ratio is 5.35, which is lower than the CBIL.TO Sharpe Ratio of 8.89. The chart below compares the historical Sharpe Ratios of HISA.NEO and CBIL.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

HISA.NEO vs. CBIL.TO - Drawdown Comparison

The maximum HISA.NEO drawdown since its inception was -0.22%, which is greater than CBIL.TO's maximum drawdown of -0.06%. Use the drawdown chart below to compare losses from any high point for HISA.NEO and CBIL.TO.

Drawdown Indicators

	HISA.NEO	CBIL.TO	Difference
Max Drawdown Largest peak-to-trough decline	-0.22%	-0.06%	-0.16%
Max Drawdown (1Y) Largest decline over 1 year	-0.18%	-0.04%	-0.14%
Max Drawdown (3Y) Largest decline over 3 years	-0.22%	-0.06%	-0.16%
Max Drawdown (5Y) Largest decline over 5 years	-0.22%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.00%	-0.00%	0.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.02%	0.01%	+0.01%

Volatility

HISA.NEO vs. CBIL.TO - Volatility Comparison

The current volatility for Evolve High Interest Savings Account ETF (HISA.NEO) is 0.05%, while Global X 0-3 Month T-Bill ETF (CBIL.TO) has a volatility of 0.07%. This indicates that HISA.NEO experiences smaller price fluctuations and is considered to be less risky than CBIL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HISA.NEO	CBIL.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.05%	0.07%	-0.02%
Volatility (6M) Calculated over the trailing 6-month period	0.29%	0.18%	+0.11%
Volatility (1Y) Calculated over the trailing 1-year period	0.42%	0.26%	+0.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.34%	0.32%	+0.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.39%	0.32%	+0.07%

HISA.NEO vs. CBIL.TO - Expense Ratio Comparison

HISA.NEO has a 0.15% expense ratio, which is higher than CBIL.TO's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

HISA.NEO vs. CBIL.TO - Dividend Comparison

HISA.NEO's dividend yield for the trailing twelve months is around 2.22%, less than CBIL.TO's 2.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
CBIL.TO Global X 0-3 Month T-Bill ETF	2.25%	2.58%	4.38%	3.39%	0.00%	0.00%	0.00%	0.00%
HISA.NEO Evolve High Interest Savings Account ETF	2.22%	2.53%	4.43%	5.03%	2.28%	0.57%	0.90%	0.54%

Frequently Asked Questions

Can I hold both HISA.NEO and CBIL.TO in my portfolio?

HISA.NEO and CBIL.TO have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HISA.NEO or CBIL.TO?

On fees, CBIL.TO is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HISA.NEO or CBIL.TO?

CBIL.TO is cheaper with a 0.10% expense ratio, compared with 0.15% for HISA.NEO.

What is the main difference between HISA.NEO and CBIL.TO?

HISA.NEO is categorized as Money Market, while CBIL.TO is Canadian Government Bonds. They also come from different issuers: Evolve and Global X. Their fees differ too: 0.15% for HISA.NEO and 0.10% for CBIL.TO.