HSUV-U.TO vs. ZUCM.TO

Last updated Jun 5, 2026

HSUV-U.TO (Global X USD Cash Maximizer Corporate Class ETF) and ZUCM.TO (BMO USD Cash Management ETF) are both Money Market funds. Both are actively managed. Over the past year, HSUV-U.TO returned 3.75% vs 3.95% for ZUCM.TO. At a correlation of -0.01, they often move in opposite directions. HSUV-U.TO charges 0.18%/yr vs 0.14%/yr for ZUCM.TO.

Performance

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

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

Different Trading Currencies

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

Returns By Period

In the year-to-date period, HSUV-U.TO achieves a 1.49% return, which is significantly lower than ZUCM.TO's 1.57% return.

HSUV-U.TO

• 1D: 0.03%
• 1M: 0.52%
• YTD: 1.49%
• 6M: 1.81%
• 1Y: 3.75%
• 3Y*: 4.59%
• 5Y*: 3.58%
• 10Y*: —

ZUCM.TO

• 1D: 0.01%
• 1M: 0.23%
• YTD: 1.57%
• 6M: 1.76%
• 1Y: 3.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

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

	2026 (YTD)	2025	2024	2023
HSUV-U.TO Global X USD Cash Maximizer Corporate Class ETF	1.49%	4.04%	4.86%	1.34%
ZUCM.TO BMO USD Cash Management ETF	1.57%	4.15%	5.35%	1.77%

Correlation

The correlation between HSUV-U.TO and ZUCM.TO is 0.02, 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	0.02
Correlation (All Time) Calculated using the full available price history since Oct 3, 2023	-0.01

Return for Risk

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

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

HSUV-U.TO

HSUV-U.TO Risk / Return Rank: 95
HSUV-U.TO Sharpe Ratio Rank: 92
HSUV-U.TO Sortino Ratio Rank: 94
HSUV-U.TO Omega Ratio Rank: 96
HSUV-U.TO Calmar Ratio Rank: 97
HSUV-U.TO Martin Ratio Rank: 96

ZUCM.TO

ZUCM.TO Risk / Return Rank: 34
ZUCM.TO Sharpe Ratio Rank: 37
ZUCM.TO Sortino Ratio Rank: 34
ZUCM.TO Omega Ratio Rank: 36
ZUCM.TO Calmar Ratio Rank: 33
ZUCM.TO Martin Ratio Rank: 29

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.

HSUV-U.TO vs. ZUCM.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X USD Cash Maximizer Corporate Class ETF (HSUV-U.TO) and BMO USD Cash Management ETF (ZUCM.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.

	HSUV-U.TO	ZUCM.TO	Difference
Sharpe ratio: Return per unit of total volatility	3.25	2.36	+0.89
Sortino ratio: Return per unit of downside risk	4.90	3.81	+1.09
Omega ratio: Gain probability vs. loss probability	1.76	1.49	+0.27
Calmar ratio: Return relative to maximum drawdown	10.98	9.35	+1.63
Martin ratio: Return relative to average drawdown	35.36	43.17	-7.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current HSUV-U.TO Sharpe Ratio is 3.25, which is higher than the ZUCM.TO Sharpe Ratio of 2.36. The chart below compares the historical Sharpe Ratios of HSUV-U.TO and ZUCM.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

	HSUV-U.TO	ZUCM.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.25	2.36	+0.89
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	3.75	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	3.47	1.28	+2.19

Drawdowns

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

The maximum HSUV-U.TO drawdown since its inception was -0.52%, smaller than the maximum ZUCM.TO drawdown of -1.45%. Use the drawdown chart below to compare losses from any high point for HSUV-U.TO and ZUCM.TO.

Drawdown Indicators

	HSUV-U.TO	ZUCM.TO	Difference
Max Drawdown Largest peak-to-trough decline	-0.52%	-1.45%	+0.93%
Max Drawdown (1Y) Largest decline over 1 year	-0.34%	-0.42%	+0.08%
Max Drawdown (3Y) Largest decline over 3 years	-0.52%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-0.52%	—	—
Current Drawdown Current decline from peak	-0.03%	0.00%	-0.03%
Average Drawdown Average peak-to-trough decline	-0.04%	-0.24%	+0.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.11%	0.09%	+0.02%

Volatility

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

Global X USD Cash Maximizer Corporate Class ETF (HSUV-U.TO) has a higher volatility of 0.48% compared to BMO USD Cash Management ETF (ZUCM.TO) at 0.27%. This indicates that HSUV-U.TO's price experiences larger fluctuations and is considered to be riskier than ZUCM.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HSUV-U.TO	ZUCM.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.48%	0.27%	+0.21%
Volatility (6M) Calculated over the trailing 6-month period	0.89%	1.12%	-0.23%
Volatility (1Y) Calculated over the trailing 1-year period	1.16%	1.68%	-0.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.96%	3.77%	-2.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.88%	3.77%	-2.89%

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

HSUV-U.TO has a 0.18% expense ratio, which is higher than ZUCM.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

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

HSUV-U.TO has not paid dividends to shareholders, while ZUCM.TO's dividend yield for the trailing twelve months is around 3.81%.

Position	TTM	2025	2024	2023
HSUV-U.TO Global X USD Cash Maximizer Corporate Class ETF	0.00%	0.00%	0.00%	0.00%
ZUCM.TO BMO USD Cash Management ETF	3.81%	4.19%	4.88%	1.40%

Frequently Asked Questions

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

HSUV-U.TO and ZUCM.TO have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

On fees, ZUCM.TO is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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

ZUCM.TO is cheaper with a 0.14% expense ratio, compared with 0.18% for HSUV-U.TO.

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

They also come from different issuers: Global X and BMO. Their fees differ too: 0.18% for HSUV-U.TO and 0.14% for ZUCM.TO.