MCAD.TO vs. DHEIX

Last updated Jun 4, 2026

MCAD.TO (Evolve Premium Cash Management ETF) and DHEIX (Diamond Hill Short Duration Securitized Bond Fund Class I) are both Short-Term Bond funds. MCAD.TO is actively managed, while DHEIX is passively managed. Over the past year, MCAD.TO returned 2.47% vs 6.32% for DHEIX. At a 0.06 correlation, their price movements are largely independent. MCAD.TO charges 0.20%/yr vs 0.53%/yr for DHEIX.

Performance

MCAD.TO vs. DHEIX - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Evolve Premium Cash Management ETF (MCAD.TO) and Diamond Hill Short Duration Securitized Bond Fund Class I (DHEIX). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

MCAD.TO is traded in CAD, while DHEIX is traded in USD. To make them comparable, the DHEIX 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 DHEIX's 2.65% return.

MCAD.TO

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

DHEIX

• 1D: 0.41%
• 1M: 2.05%
• YTD: 2.65%
• 6M: 1.28%
• 1Y: 6.32%
• 3Y*: 8.85%
• 5Y*: 7.40%
• 10Y*: —

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

MCAD.TO vs. DHEIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MCAD.TO Evolve Premium Cash Management ETF	0.94%	2.85%	4.88%	2.30%
DHEIX Diamond Hill Short Duration Securitized Bond Fund Class I	2.65%	1.20%	18.72%	4.75%

Correlation

The correlation between MCAD.TO and DHEIX is -0.13, 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	-0.13
Correlation (All Time) Calculated using the full available price history since Jul 7, 2023	0.06

The correlation between MCAD.TO and DHEIX shifts across timeframes, from -0.13 (1 year) to 0.06 (all time), reflecting how their relationship changes across market environments.

Return for Risk

MCAD.TO vs. DHEIX — 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

DHEIX

DHEIX Risk / Return Rank: 99
DHEIX Sharpe Ratio Rank: 99
DHEIX Sortino Ratio Rank: 99
DHEIX Omega Ratio Rank: 99
DHEIX Calmar Ratio Rank: 99
DHEIX 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. DHEIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Evolve Premium Cash Management ETF (MCAD.TO) and Diamond Hill Short Duration Securitized Bond Fund Class I (DHEIX). 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	DHEIX	Difference
Sharpe ratio: Return per unit of total volatility	6.11	1.39	+4.72
Sortino ratio: Return per unit of downside risk	9.51	1.98	+7.53
Omega ratio: Gain probability vs. loss probability	4.85	1.25	+3.60
Calmar ratio: Return relative to maximum drawdown	15.55	1.77	+13.77
Martin ratio: Return relative to average drawdown	86.93	5.10	+81.83
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. DHEIX - Sharpe Ratio Comparison

The current MCAD.TO Sharpe Ratio is 6.11, which is higher than the DHEIX Sharpe Ratio of 1.39. The chart below compares the historical Sharpe Ratios of MCAD.TO and DHEIX, 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	DHEIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	6.11	1.39	+4.72
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.18	—
Sharpe Ratio (All Time) Calculated using the full available price history	5.78	0.67	+5.11

Drawdowns

MCAD.TO vs. DHEIX - Drawdown Comparison

The maximum MCAD.TO drawdown since its inception was -0.43%, smaller than the maximum DHEIX drawdown of -11.76%. Use the drawdown chart below to compare losses from any high point for MCAD.TO and DHEIX.

Drawdown Indicators

	MCAD.TO	DHEIX	Difference
Max Drawdown Largest peak-to-trough decline	-0.43%	-11.76%	+11.33%
Max Drawdown (1Y) Largest decline over 1 year	-0.16%	-3.61%	+3.45%
Max Drawdown (3Y) Largest decline over 3 years	—	-4.97%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-6.06%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.02%	-3.18%	+3.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.03%	1.25%	-1.22%

Volatility

MCAD.TO vs. DHEIX - Volatility Comparison

The current volatility for Evolve Premium Cash Management ETF (MCAD.TO) is 0.04%, while Diamond Hill Short Duration Securitized Bond Fund Class I (DHEIX) has a volatility of 0.81%. This indicates that MCAD.TO experiences smaller price fluctuations and is considered to be less risky than DHEIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MCAD.TO	DHEIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.04%	0.81%	-0.77%
Volatility (6M) Calculated over the trailing 6-month period	0.32%	3.50%	-3.18%
Volatility (1Y) Calculated over the trailing 1-year period	0.41%	4.61%	-4.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.75%	6.30%	-5.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.75%	6.94%	-6.19%

MCAD.TO vs. DHEIX - Expense Ratio Comparison

MCAD.TO has a 0.20% expense ratio, which is lower than DHEIX's 0.53% expense ratio.

Dividends

MCAD.TO vs. DHEIX - Dividend Comparison

MCAD.TO's dividend yield for the trailing twelve months is around 2.45%, less than DHEIX's 5.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DHEIX Diamond Hill Short Duration Securitized Bond Fund Class I	5.91%	5.51%	6.21%	5.52%	3.72%	2.62%	3.22%	4.05%	3.74%	3.45%
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%

Frequently Asked Questions

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

MCAD.TO and DHEIX have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.