TCSH.TO vs. BNDW
Compare and contrast key facts about TD Cash Management ETF (TCSH.TO) and Vanguard Total World Bond ETF (BNDW).
TCSH.TO and BNDW are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TCSH.TO is an actively managed fund by TD. It was launched on Feb 15, 2024. BNDW is a passively managed fund by Vanguard that tracks the performance of the Bloomberg Global Aggregate Float Adjusted Composite Index. It was launched on Sep 4, 2018.
Performance
TCSH.TO vs. BNDW - Performance Comparison
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TCSH.TO vs. BNDW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
TCSH.TO TD Cash Management ETF | 0.37% | 3.09% | 4.37% |
BNDW Vanguard Total World Bond ETF | 1.32% | 0.20% | 11.15% |
Different Trading Currencies
TCSH.TO is traded in CAD, while BNDW is traded in USD. To make them comparable, the BNDW values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, TCSH.TO achieves a 0.37% return, which is significantly lower than BNDW's 1.32% return.
TCSH.TO
- 1D
- -0.02%
- 1M
- 0.12%
- YTD
- 0.37%
- 6M
- 1.22%
- 1Y
- 2.63%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BNDW
- 1D
- 0.24%
- 1M
- -0.04%
- YTD
- 1.32%
- 6M
- 0.48%
- 1Y
- 0.05%
- 3Y*
- 4.72%
- 5Y*
- 2.29%
- 10Y*
- —
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TCSH.TO vs. BNDW - Expense Ratio Comparison
TCSH.TO has a 0.16% expense ratio, which is higher than BNDW's 0.05% 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%.
Return for Risk
TCSH.TO vs. BNDW — Risk / Return Rank
TCSH.TO
BNDW
TCSH.TO vs. BNDW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TD Cash Management ETF (TCSH.TO) and Vanguard Total World Bond ETF (BNDW). 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.
| TCSH.TO | BNDW | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 5.78 | 0.01 | +5.77 |
Sortino ratioReturn per unit of downside risk | 10.76 | 0.05 | +10.71 |
Omega ratioGain probability vs. loss probability | 2.86 | 1.01 | +1.85 |
Calmar ratioReturn relative to maximum drawdown | 26.59 | 0.13 | +26.45 |
Martin ratioReturn relative to average drawdown | 107.81 | 0.25 | +107.56 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TCSH.TO | BNDW | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 5.78 | 0.01 | +5.77 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.31 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 5.30 | 0.34 | +4.95 |
Correlation
The correlation between TCSH.TO and BNDW is 0.08, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
TCSH.TO vs. BNDW - Dividend Comparison
TCSH.TO's dividend yield for the trailing twelve months is around 2.74%, less than BNDW's 4.16% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
TCSH.TO TD Cash Management ETF | 2.74% | 3.03% | 4.21% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
BNDW Vanguard Total World Bond ETF | 4.16% | 4.12% | 3.90% | 3.73% | 2.02% | 2.58% | 1.56% | 3.05% | 1.66% |
Drawdowns
TCSH.TO vs. BNDW - Drawdown Comparison
The maximum TCSH.TO drawdown since its inception was -0.54%, smaller than the maximum BNDW drawdown of -19.25%. Use the drawdown chart below to compare losses from any high point for TCSH.TO and BNDW.
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Drawdown Indicators
| TCSH.TO | BNDW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.54% | -17.22% | +16.68% |
Max Drawdown (1Y)Largest decline over 1 year | -0.10% | -2.70% | +2.60% |
Max Drawdown (5Y)Largest decline over 5 years | — | -16.93% | — |
Current DrawdownCurrent decline from peak | -0.02% | -1.98% | +1.96% |
Average DrawdownAverage peak-to-trough decline | -0.01% | -5.05% | +5.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | 0.72% | -0.70% |
Volatility
TCSH.TO vs. BNDW - Volatility Comparison
The current volatility for TD Cash Management ETF (TCSH.TO) is 0.13%, while Vanguard Total World Bond ETF (BNDW) has a volatility of 2.07%. This indicates that TCSH.TO experiences smaller price fluctuations and is considered to be less risky than BNDW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TCSH.TO | BNDW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.13% | 2.07% | -1.94% |
Volatility (6M)Calculated over the trailing 6-month period | 0.37% | 4.04% | -3.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.46% | 5.98% | -5.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.71% | 7.44% | -6.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.71% | 7.49% | -6.78% |