HSAV.TO vs. CCAD.TO
HSAV.TO (Global X Cash Maximizer Corporate Class ETF) and CCAD.TO (CIBC Premium Cash Management ETF) are both Money Market funds. Both are actively managed. Over the past year, HSAV.TO returned 2.44% vs 2.54% for CCAD.TO. At a correlation of -0.13, they often move in opposite directions. HSAV.TO charges 0.18%/yr vs 0.14%/yr for CCAD.TO.
Performance
HSAV.TO vs. CCAD.TO - Performance Comparison
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Returns By Period
In the year-to-date period, HSAV.TO achieves a 0.94% return, which is significantly lower than CCAD.TO's 1.10% return.
HSAV.TO
- 1D
- 0.04%
- 1M
- 0.02%
- YTD
- 0.94%
- 6M
- 1.02%
- 1Y
- 2.44%
- 3Y*
- 3.46%
- 5Y*
- 3.18%
- 10Y*
- —
CCAD.TO
- 1D
- 0.00%
- 1M
- 0.18%
- YTD
- 1.10%
- 6M
- 1.16%
- 1Y
- 2.54%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HSAV.TO vs. CCAD.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HSAV.TO Global X Cash Maximizer Corporate Class ETF | 0.94% | 1.77% |
CCAD.TO CIBC Premium Cash Management ETF | 1.10% | 1.69% |
Correlation
The correlation between HSAV.TO and CCAD.TO is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.12 |
Correlation (All Time) Calculated using the full available price history since May 14, 2025 | -0.13 |
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Return for Risk
HSAV.TO vs. CCAD.TO — Risk / Return Rank
HSAV.TO
CCAD.TO
HSAV.TO vs. CCAD.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Cash Maximizer Corporate Class ETF (HSAV.TO) and CIBC Premium Cash Management ETF (CCAD.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.
| HSAV.TO | CCAD.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.45 | ||
| Sortino ratioReturn per unit of downside risk | -12.23 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 3.62 | -2.29 |
| Calmar ratioReturn relative to maximum drawdown | 4.14 | 31.98 | -27.85 |
| Martin ratioReturn relative to average drawdown | 10.94 | 168.53 | -157.59 |
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Drawdowns
HSAV.TO vs. CCAD.TO - Drawdown Comparison
The maximum HSAV.TO drawdown since its inception was -2.18%, which is greater than CCAD.TO's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for HSAV.TO and CCAD.TO.
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Drawdown Indicators
| HSAV.TO | CCAD.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.18% | -0.08% | -2.10% |
Max Drawdown (1Y)Largest decline over 1 year | -0.59% | -0.08% | -0.51% |
Max Drawdown (3Y)Largest decline over 3 years | -1.06% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -2.18% | — | — |
Current DrawdownCurrent decline from peak | -0.28% | 0.00% | -0.28% |
Average DrawdownAverage peak-to-trough decline | -0.19% | -0.01% | -0.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.22% | 0.02% | +0.20% |
Volatility
HSAV.TO vs. CCAD.TO - Volatility Comparison
Global X Cash Maximizer Corporate Class ETF (HSAV.TO) has a higher volatility of 0.35% compared to CIBC Premium Cash Management ETF (CCAD.TO) at 0.08%. This indicates that HSAV.TO's price experiences larger fluctuations and is considered to be riskier than CCAD.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HSAV.TO | CCAD.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.35% | 0.08% | +0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 1.02% | 0.19% | +0.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.39% | 0.36% | +1.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.77% | 0.35% | +1.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.57% | 0.35% | +1.22% |
HSAV.TO vs. CCAD.TO - Expense Ratio Comparison
HSAV.TO has a 0.18% expense ratio, which is higher than CCAD.TO's 0.14% 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
HSAV.TO vs. CCAD.TO - Dividend Comparison
HSAV.TO has not paid dividends to shareholders, while CCAD.TO's dividend yield for the trailing twelve months is around 2.63%.
| Position | TTM | 2025 |
|---|---|---|
CCAD.TO CIBC Premium Cash Management ETF | 2.63% | 1.62% |
HSAV.TO Global X Cash Maximizer Corporate Class ETF | 0.00% | 0.00% |
Frequently Asked Questions
HSAV.TO and CCAD.TO have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CCAD.TO is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CCAD.TO is cheaper with a 0.14% expense ratio, compared with 0.18% for HSAV.TO.
They also come from different issuers: Global X and CIBC. Their fees differ too: 0.18% for HSAV.TO and 0.14% for CCAD.TO.
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