HSAV.TO vs. UCSH-U.TO

Last updated Jul 16, 2026

HSAV.TO (Global X Cash Maximizer Corporate Class ETF) and UCSH-U.TO (Global X USD High Interest Savings ETF) are both Money Market funds from Global X. Both are actively managed. Over the past year, HSAV.TO returned 2.31% vs 6.28% for UCSH-U.TO. At a correlation of -0.01, they often move in opposite directions.

Performance

HSAV.TO vs. UCSH-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 High Interest Savings ETF (UCSH-U.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

HSAV.TO is traded in CAD, while UCSH-U.TO is traded in USD. To make them comparable, the UCSH-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 1.00% return, which is significantly lower than UCSH-U.TO's 4.42% return.

HSAV.TO

• 1D: 0.03%
• 1M: -0.11%
• 6M: 1.19%
• YTD: 1.00%
• 1Y: 2.31%
• 3Y*: 3.44%
• 5Y*: 3.18%
• 10Y*: —

UCSH-U.TO

• 1D: -0.69%
• 1M: 0.90%
• 6M: 2.89%
• YTD: 4.42%
• 1Y: 6.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

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

	2026 (YTD)	2025	2024
HSAV.TO Global X Cash Maximizer Corporate Class ETF	1.00%	2.58%	3.76%
UCSH-U.TO Global X USD High Interest Savings ETF	4.42%	-0.59%	11.69%

Correlation

The correlation between HSAV.TO and UCSH-U.TO is 0.05, 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	0.05
Correlation (All Time) Calculated using the full available price history since Jan 24, 2024	-0.01

Return for Risk

HSAV.TO vs. UCSH-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: 70
HSAV.TO Sharpe Ratio Rank: 62
HSAV.TO Sortino Ratio Rank: 67
HSAV.TO Omega Ratio Rank: 63
HSAV.TO Calmar Ratio Rank: 87
HSAV.TO Martin Ratio Rank: 69

UCSH-U.TO

UCSH-U.TO Risk / Return Rank: 100
UCSH-U.TO Sharpe Ratio Rank: 100
UCSH-U.TO Sortino Ratio Rank: 100
UCSH-U.TO Omega Ratio Rank: 100
UCSH-U.TO Calmar Ratio Rank: 100
UCSH-U.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.

HSAV.TO vs. UCSH-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 High Interest Savings ETF (UCSH-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.

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	UCSH-U.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.65	1.44	+0.21
Sortino ratio: Return per unit of downside risk	2.43	2.01	+0.43
Omega ratio: Gain probability vs. loss probability	1.31	1.26	+0.04
Calmar ratio: Return relative to maximum drawdown	3.92	1.67	+2.25
Martin ratio: Return relative to average drawdown	9.99	4.56	+5.43

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

The current HSAV.TO Sharpe Ratio is 1.65, which is comparable to the UCSH-U.TO Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of HSAV.TO and UCSH-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.

Drawdowns

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

The maximum HSAV.TO drawdown since its inception was -2.18%, smaller than the maximum UCSH-U.TO drawdown of -6.35%. Use the drawdown chart below to compare losses from any high point for HSAV.TO and UCSH-U.TO.

Drawdown Indicators

	HSAV.TO	UCSH-U.TO	Difference
Max Drawdown Largest peak-to-trough decline	-2.18%	-6.35%	+4.17%
Max Drawdown (1Y) Largest decline over 1 year	-0.59%	-3.77%	+3.18%
Max Drawdown (3Y) Largest decline over 3 years	-1.06%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-2.18%	—	—
Current Drawdown Current decline from peak	-0.22%	-1.11%	+0.89%
Average Drawdown Average peak-to-trough decline	-0.19%	-1.98%	+1.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.23%	1.38%	-1.15%

Volatility

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

The current volatility for Global X Cash Maximizer Corporate Class ETF (HSAV.TO) is 0.34%, while Global X USD High Interest Savings ETF (UCSH-U.TO) has a volatility of 1.31%. This indicates that HSAV.TO experiences smaller price fluctuations and is considered to be less risky than UCSH-U.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HSAV.TO	UCSH-U.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.34%	1.31%	-0.97%
Volatility (6M) Calculated over the trailing 6-month period	0.97%	3.30%	-2.33%
Volatility (1Y) Calculated over the trailing 1-year period	1.41%	4.38%	-2.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.78%	5.33%	-3.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.57%	5.33%	-3.76%

Dividends

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

HSAV.TO has not paid dividends to shareholders, while UCSH-U.TO's dividend yield for the trailing twelve months is around 3.65%.

Position	TTM	2025	2024
HSAV.TO Global X Cash Maximizer Corporate Class ETF	0.00%	0.00%	0.00%
UCSH-U.TO Global X USD High Interest Savings ETF	3.65%	4.04%	4.71%

Frequently Asked Questions

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

HSAV.TO and UCSH-U.TO have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.