MCAD.TO vs. XFR.TO
MCAD.TO (Evolve Premium Cash Management ETF) and XFR.TO (iShares Floating Rate Index ETF) are both funds - MCAD.TO is a Short-Term Bond fund actively managed by Evolve, while XFR.TO is a Canadian Government Bonds fund tracking the Morningstar Can 1-5Y Core Bd GR CAD. MCAD.TO is actively managed, while XFR.TO is passively managed. Over the past year, MCAD.TO returned 2.39% vs 2.87% for XFR.TO. At a correlation of -0.00, they often move in opposite directions. MCAD.TO charges 0.20%/yr vs 0.14%/yr for XFR.TO.
Performance
MCAD.TO vs. XFR.TO - Performance Comparison
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Returns By Period
In the year-to-date period, MCAD.TO achieves a 1.19% return, which is significantly lower than XFR.TO's 1.36% return.
MCAD.TO
- 1D
- 0.01%
- 1M
- 0.18%
- 6M
- 1.12%
- YTD
- 1.19%
- 1Y
- 2.39%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XFR.TO
- 1D
- 0.05%
- 1M
- 0.21%
- 6M
- 1.31%
- YTD
- 1.36%
- 1Y
- 2.87%
- 3Y*
- 3.91%
- 5Y*
- 3.29%
- 10Y*
- 2.27%
MCAD.TO vs. XFR.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
MCAD.TO Evolve Premium Cash Management ETF | 1.19% | 2.85% | 4.88% | -0.01% |
XFR.TO iShares Floating Rate Index ETF | 1.36% | 3.33% | 4.57% | 0.19% |
Correlation
The correlation between MCAD.TO and XFR.TO is -0.04, 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 | -0.04 |
Correlation (All Time) Calculated using the full available price history since Dec 28, 2023 | -0.00 |
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Return for Risk
MCAD.TO vs. XFR.TO — Risk / Return Rank
MCAD.TO
XFR.TO
MCAD.TO vs. XFR.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Evolve Premium Cash Management ETF (MCAD.TO) and iShares Floating Rate Index ETF (XFR.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.
| MCAD.TO | XFR.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.92 | ||
| Sortino ratioReturn per unit of downside risk | +2.46 | ||
| Omega ratioGain probability vs. loss probability | 4.92 | 1.97 | +2.95 |
| Calmar ratioReturn relative to maximum drawdown | 15.05 | 28.86 | -13.81 |
| Martin ratioReturn relative to average drawdown | 84.22 | 86.00 | -1.77 |
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Drawdowns
MCAD.TO vs. XFR.TO - Drawdown Comparison
The maximum MCAD.TO drawdown since its inception was -0.43%, smaller than the maximum XFR.TO drawdown of -4.12%. Use the drawdown chart below to compare losses from any high point for MCAD.TO and XFR.TO.
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Drawdown Indicators
| MCAD.TO | XFR.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.43% | -4.12% | +3.69% |
Max Drawdown (1Y)Largest decline over 1 year | -0.16% | -0.10% | -0.06% |
Max Drawdown (3Y)Largest decline over 3 years | — | -0.30% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -0.30% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -4.12% | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.02% | -0.06% | +0.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.03% | 0.03% | 0.00% |
Volatility
MCAD.TO vs. XFR.TO - Volatility Comparison
The current volatility for Evolve Premium Cash Management ETF (MCAD.TO) is 0.03%, while iShares Floating Rate Index ETF (XFR.TO) has a volatility of 0.21%. This indicates that MCAD.TO experiences smaller price fluctuations and is considered to be less risky than XFR.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MCAD.TO | XFR.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.03% | 0.21% | -0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 0.26% | 0.44% | -0.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.40% | 0.71% | -0.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.64% | 0.84% | -0.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.64% | 1.86% | -1.22% |
MCAD.TO vs. XFR.TO - Expense Ratio Comparison
MCAD.TO has a 0.20% expense ratio, which is higher than XFR.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
MCAD.TO vs. XFR.TO - Dividend Comparison
MCAD.TO's dividend yield for the trailing twelve months is around 2.41%, less than XFR.TO's 2.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MCAD.TO Evolve Premium Cash Management ETF | 2.41% | 2.83% | 4.78% | 0.41% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XFR.TO iShares Floating Rate Index ETF | 2.73% | 3.23% | 4.93% | 4.91% | 1.84% | 0.30% | 1.07% | 1.99% | 1.64% | 0.92% | 0.65% | 0.95% |
Frequently Asked Questions
MCAD.TO and XFR.TO have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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