HSAV.TO vs. HSUV-U.TO

Last updated Jun 4, 2026

HSAV.TO (Global X Cash Maximizer Corporate Class ETF) and HSUV-U.TO (Global X USD Cash Maximizer Corporate Class ETF) are both exchange-traded funds - HSAV.TO is a Bank Loan fund actively managed by Global X, while HSUV-U.TO is a Money Market fund actively managed by Global X. Both are actively managed. Over the past 5 years, HSAV.TO returned 3.20%/yr vs 6.53%/yr for HSUV-U.TO. At a 0.01 correlation, their price movements are largely independent. Both charge a 0.18% expense ratio.

Performance

HSAV.TO vs. HSUV-U.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Cash Maximizer Corporate Class ETF (HSAV.TO) and Global X USD Cash Maximizer Corporate Class ETF (HSUV-U.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, HSAV.TO achieves a 1.04% return, which is significantly lower than HSUV-U.TO's 2.74% return.

HSAV.TO

• 1D: -0.03%
• 1M: 0.15%
• YTD: 1.04%
• 6M: 1.55%
• 1Y: 2.70%
• 3Y*: 3.71%
• 5Y*: 3.20%
• 10Y*: —

HSUV-U.TO

• 1D: 0.48%
• 1M: 2.55%
• YTD: 2.74%
• 6M: 1.46%
• 1Y: 5.10%
• 3Y*: 5.79%
• 5Y*: 6.53%
• 10Y*: —

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

HSAV.TO vs. HSUV-U.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
HSAV.TO Global X Cash Maximizer Corporate Class ETF	1.04%	2.58%	4.24%	5.04%	2.79%	0.66%	0.33%
HSUV-U.TO Global X USD Cash Maximizer Corporate Class ETF	2.74%	-0.73%	13.87%	3.14%	9.21%	-0.64%	-5.89%

Correlation

The correlation between HSAV.TO and HSUV-U.TO is 0.04, 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	0.04
Correlation (3Y) Calculated over the trailing 3-year period	-0.02
Correlation (5Y) Calculated over the trailing 5-year period	0.01
Correlation (All Time) Calculated using the full available price history since Jul 2, 2020	0.01

Return for Risk

HSAV.TO vs. HSUV-U.TO — Risk / Return Rank

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

HSAV.TO

HSAV.TO Risk / Return Rank: 66
HSAV.TO Sharpe Ratio Rank: 56
HSAV.TO Sortino Ratio Rank: 61
HSAV.TO Omega Ratio Rank: 59
HSAV.TO Calmar Ratio Rank: 84
HSAV.TO Martin Ratio Rank: 67

HSUV-U.TO

HSUV-U.TO Risk / Return Rank: 95
HSUV-U.TO Sharpe Ratio Rank: 91
HSUV-U.TO Sortino Ratio Rank: 94
HSUV-U.TO Omega Ratio Rank: 95
HSUV-U.TO Calmar Ratio Rank: 97
HSUV-U.TO Martin Ratio Rank: 96

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.

HSAV.TO vs. HSUV-U.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 Global X USD Cash Maximizer Corporate Class ETF (HSUV-U.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.

	HSAV.TO	HSUV-U.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.96	1.06	+0.89
Sortino ratio: Return per unit of downside risk	2.93	1.47	+1.46
Omega ratio: Gain probability vs. loss probability	1.37	1.19	+0.18
Calmar ratio: Return relative to maximum drawdown	4.58	1.32	+3.26
Martin ratio: Return relative to average drawdown	12.46	3.73	+8.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HSAV.TO vs. HSUV-U.TO - Sharpe Ratio Comparison

The current HSAV.TO Sharpe Ratio is 1.96, which is higher than the HSUV-U.TO Sharpe Ratio of 1.06. The chart below compares the historical Sharpe Ratios of HSAV.TO and HSUV-U.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

	HSAV.TO	HSUV-U.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.96	1.06	+0.89
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.82	1.02	+0.80
Sharpe Ratio (All Time) Calculated using the full available price history	1.72	0.54	+1.17

Drawdowns

HSAV.TO vs. HSUV-U.TO - Drawdown Comparison

The maximum HSAV.TO drawdown since its inception was -2.18%, smaller than the maximum HSUV-U.TO drawdown of -11.40%. Use the drawdown chart below to compare losses from any high point for HSAV.TO and HSUV-U.TO.

Drawdown Indicators

	HSAV.TO	HSUV-U.TO	Difference
Max Drawdown Largest peak-to-trough decline	-2.18%	-11.40%	+9.22%
Max Drawdown (1Y) Largest decline over 1 year	-0.59%	-3.88%	+3.29%
Max Drawdown (3Y) Largest decline over 3 years	-1.06%	-5.55%	+4.49%
Max Drawdown (5Y) Largest decline over 5 years	-2.18%	-5.55%	+3.37%
Current Drawdown Current decline from peak	-0.18%	0.00%	-0.18%
Average Drawdown Average peak-to-trough decline	-0.19%	-3.24%	+3.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.22%	1.37%	-1.15%

Volatility

HSAV.TO vs. HSUV-U.TO - Volatility Comparison

The current volatility for Global X Cash Maximizer Corporate Class ETF (HSAV.TO) is 0.48%, while Global X USD Cash Maximizer Corporate Class ETF (HSUV-U.TO) has a volatility of 0.79%. This indicates that HSAV.TO experiences smaller price fluctuations and is considered to be less risky than HSUV-U.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HSAV.TO	HSUV-U.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.48%	0.79%	-0.31%
Volatility (6M) Calculated over the trailing 6-month period	1.05%	3.64%	-2.59%
Volatility (1Y) Calculated over the trailing 1-year period	1.39%	4.82%	-3.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.77%	6.42%	-4.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.58%	6.41%	-4.83%

HSAV.TO vs. HSUV-U.TO - Expense Ratio Comparison

Both HSAV.TO and HSUV-U.TO have an expense ratio of 0.18%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

HSAV.TO vs. HSUV-U.TO - Dividend Comparison

Neither HSAV.TO nor HSUV-U.TO has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both HSAV.TO and HSUV-U.TO in my portfolio?

HSAV.TO and HSUV-U.TO have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HSAV.TO or HSUV-U.TO?

Both ETFs have the same 0.18% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HSAV.TO or HSUV-U.TO?

HSAV.TO and HSUV-U.TO have the same expense ratio: 0.18% per year.

What is the main difference between HSAV.TO and HSUV-U.TO?

HSAV.TO is categorized as Bank Loan, while HSUV-U.TO is Money Market.