HSH.TO vs. CASH.TO
HSH.TO (Global X S&P 500 CAD Hedged Index Corporate Class ETF) and CASH.TO (Global X High Interest Savings ETF) are both exchange-traded funds - HSH.TO is a S&P 500 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, HSH.TO returned 18.33%/yr vs 3.50%/yr for CASH.TO. At a 0.02 correlation, their price movements are largely independent.
Performance
HSH.TO vs. CASH.TO - Performance Comparison
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Returns By Period
In the year-to-date period, HSH.TO achieves a 9.63% return, which is significantly higher than CASH.TO's 1.08% return.
HSH.TO
- 1D
- 0.10%
- 1M
- 0.05%
- 6M
- 8.63%
- YTD
- 9.63%
- 1Y
- 19.57%
- 3Y*
- 18.33%
- 5Y*
- 11.71%
- 10Y*
- —
CASH.TO
- 1D
- 0.00%
- 1M
- 0.17%
- 6M
- 1.02%
- YTD
- 1.08%
- 1Y
- 2.18%
- 3Y*
- 3.50%
- 5Y*
- —
- 10Y*
- —
HSH.TO vs. CASH.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
HSH.TO Global X S&P 500 CAD Hedged Index Corporate Class ETF | 9.63% | 15.34% | 23.32% | 25.56% | -19.90% | 3.28% |
CASH.TO Global X High Interest Savings ETF | 1.08% | 2.45% | 4.53% | 5.11% | 2.38% | 0.08% |
Correlation
The correlation between HSH.TO and CASH.TO is -0.00, 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 | -0.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Nov 3, 2021 | 0.02 |
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Return for Risk
HSH.TO vs. CASH.TO — Risk / Return Rank
HSH.TO
CASH.TO
HSH.TO vs. CASH.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X S&P 500 CAD Hedged Index Corporate Class ETF (HSH.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.
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.
| HSH.TO | CASH.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -7.86 | ||
| Sortino ratioReturn per unit of downside risk | -23.17 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 6.84 | -5.57 |
| Calmar ratioReturn relative to maximum drawdown | 2.06 | 109.63 | -107.57 |
| Martin ratioReturn relative to average drawdown | 8.81 | 377.06 | -368.25 |
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Drawdowns
HSH.TO vs. CASH.TO - Drawdown Comparison
The maximum HSH.TO drawdown since its inception was -34.19%, 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 HSH.TO and CASH.TO.
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Drawdown Indicators
| HSH.TO | CASH.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.19% | -0.80% | -33.39% |
Max Drawdown (1Y)Largest decline over 1 year | -9.56% | -0.02% | -9.54% |
Max Drawdown (3Y)Largest decline over 3 years | -20.04% | -0.06% | -19.98% |
Max Drawdown (5Y)Largest decline over 5 years | -25.26% | — | — |
Current DrawdownCurrent decline from peak | -0.80% | 0.00% | -0.80% |
Average DrawdownAverage peak-to-trough decline | -5.44% | -0.00% | -5.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.23% | 0.01% | +2.22% |
Volatility
HSH.TO vs. CASH.TO - Volatility Comparison
Global X S&P 500 CAD Hedged Index Corporate Class ETF (HSH.TO) has a higher volatility of 3.77% compared to Global X High Interest Savings ETF (CASH.TO) at 0.06%. This indicates that HSH.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.
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Volatility by Period
| HSH.TO | CASH.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.77% | 0.06% | +3.71% |
Volatility (6M)Calculated over the trailing 6-month period | 10.21% | 0.15% | +10.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.78% | 0.23% | +12.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.78% | 0.61% | +17.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.11% | 0.61% | +19.50% |
Dividends
HSH.TO vs. CASH.TO - Dividend Comparison
HSH.TO has not paid dividends to shareholders, while CASH.TO's dividend yield for the trailing twelve months is around 2.12%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
CASH.TO Global X High Interest Savings ETF | 2.12% | 2.53% | 4.37% | 5.05% | 2.30% | 0.10% |
HSH.TO Global X S&P 500 CAD Hedged Index Corporate Class ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HSH.TO and CASH.TO have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HSH.TO is categorized as S&P 500, while CASH.TO is Money Market.
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