MCAD.TO vs. DFAIX

Last updated Jun 4, 2026

MCAD.TO (Evolve Premium Cash Management ETF) and DFAIX (DFA Short-Duration Real Return Portfolio) are both Short-Term Bond funds. Over the past year, MCAD.TO returned 2.47% vs 5.77% for DFAIX. At a 0.02 correlation, their price movements are largely independent. MCAD.TO charges 0.20%/yr vs 0.22%/yr for DFAIX.

Performance

MCAD.TO vs. DFAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Evolve Premium Cash Management ETF (MCAD.TO) and DFA Short-Duration Real Return Portfolio (DFAIX). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, MCAD.TO achieves a 0.94% return, which is significantly lower than DFAIX's 3.45% return.

MCAD.TO

• 1D: 0.00%
• 1M: 0.19%
• YTD: 0.94%
• 6M: 1.14%
• 1Y: 2.47%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DFAIX

• 1D: 0.31%
• 1M: 2.15%
• YTD: 3.45%
• 6M: 1.75%
• 1Y: 5.77%
• 3Y*: 6.88%
• 5Y*: 6.66%
• 10Y*: 4.03%

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

MCAD.TO vs. DFAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MCAD.TO Evolve Premium Cash Management ETF	0.94%	2.85%	4.88%	2.30%
DFAIX DFA Short-Duration Real Return Portfolio	3.45%	0.05%	15.52%	2.43%

Correlation

The correlation between MCAD.TO and DFAIX is -0.16, 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	-0.16
Correlation (All Time) Calculated using the full available price history since Jul 7, 2023	0.02

The correlation between MCAD.TO and DFAIX shifts across timeframes, from -0.16 (1 year) to 0.02 (all time), reflecting how their relationship changes across market environments.

Return for Risk

MCAD.TO vs. DFAIX — Risk / Return Rank

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

MCAD.TO

MCAD.TO Risk / Return Rank: 100
MCAD.TO Sharpe Ratio Rank: 100
MCAD.TO Sortino Ratio Rank: 99
MCAD.TO Omega Ratio Rank: 100
MCAD.TO Calmar Ratio Rank: 99
MCAD.TO Martin Ratio Rank: 100

DFAIX

DFAIX Risk / Return Rank: 99
DFAIX Sharpe Ratio Rank: 99
DFAIX Sortino Ratio Rank: 99
DFAIX Omega Ratio Rank: 98
DFAIX Calmar Ratio Rank: 99
DFAIX Martin Ratio Rank: 99

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.

MCAD.TO vs. DFAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Evolve Premium Cash Management ETF (MCAD.TO) and DFA Short-Duration Real Return Portfolio (DFAIX). 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.

	MCAD.TO	DFAIX	Difference
Sharpe ratio: Return per unit of total volatility	6.11	1.30	+4.81
Sortino ratio: Return per unit of downside risk	9.51	1.83	+7.68
Omega ratio: Gain probability vs. loss probability	4.85	1.23	+3.62
Calmar ratio: Return relative to maximum drawdown	15.55	1.61	+13.94
Martin ratio: Return relative to average drawdown	86.93	4.31	+82.62
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MCAD.TO vs. DFAIX - Sharpe Ratio Comparison

The current MCAD.TO Sharpe Ratio is 6.11, which is higher than the DFAIX Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of MCAD.TO and DFAIX, 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

	MCAD.TO	DFAIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	6.11	1.30	+4.81
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.02	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.60	—
Sharpe Ratio (All Time) Calculated using the full available price history	5.78	0.72	+5.07

Drawdowns

MCAD.TO vs. DFAIX - Drawdown Comparison

The maximum MCAD.TO drawdown since its inception was -0.43%, smaller than the maximum DFAIX drawdown of -12.60%. Use the drawdown chart below to compare losses from any high point for MCAD.TO and DFAIX.

Drawdown Indicators

	MCAD.TO	DFAIX	Difference
Max Drawdown Largest peak-to-trough decline	-0.43%	-12.60%	+12.17%
Max Drawdown (1Y) Largest decline over 1 year	-0.16%	-3.64%	+3.48%
Max Drawdown (3Y) Largest decline over 3 years	—	-5.25%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-5.25%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-11.28%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.02%	-3.04%	+3.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.03%	1.36%	-1.33%

Volatility

MCAD.TO vs. DFAIX - Volatility Comparison

The current volatility for Evolve Premium Cash Management ETF (MCAD.TO) is 0.04%, while DFA Short-Duration Real Return Portfolio (DFAIX) has a volatility of 0.77%. This indicates that MCAD.TO experiences smaller price fluctuations and is considered to be less risky than DFAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MCAD.TO	DFAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.04%	0.77%	-0.73%
Volatility (6M) Calculated over the trailing 6-month period	0.32%	3.32%	-3.00%
Volatility (1Y) Calculated over the trailing 1-year period	0.41%	4.53%	-4.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.75%	6.59%	-5.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.75%	6.69%	-5.94%

MCAD.TO vs. DFAIX - Expense Ratio Comparison

MCAD.TO has a 0.20% expense ratio, which is lower than DFAIX's 0.22% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

MCAD.TO vs. DFAIX - Dividend Comparison

MCAD.TO's dividend yield for the trailing twelve months is around 2.45%, less than DFAIX's 4.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFAIX DFA Short-Duration Real Return Portfolio	4.54%	4.65%	4.14%	3.66%	1.68%	0.98%	0.82%	2.53%	2.72%	1.71%	1.41%	1.29%
MCAD.TO Evolve Premium Cash Management ETF	2.45%	2.83%	4.78%	2.56%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MCAD.TO and DFAIX in my portfolio?

MCAD.TO and DFAIX have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.