TCSH.TO vs. CCAD.TO
TCSH.TO (TD Cash Management ETF) and CCAD.TO (CIBC Premium Cash Management ETF) are both exchange-traded funds - TCSH.TO is a Ultrashort Bond fund actively managed by TD, while CCAD.TO is a Money Market fund actively managed by CIBC. Both are actively managed. Over the past year, TCSH.TO returned 2.60% vs 2.52% for CCAD.TO. Their -0.01 correlation means they have often moved in opposite directions in the past. TCSH.TO charges 0.16%/yr vs 0.14%/yr for CCAD.TO.
Performance
TCSH.TO vs. CCAD.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, TCSH.TO achieves a 1.27% return, which is significantly lower than CCAD.TO's 1.38% return.
TCSH.TO
- 1D
- 0.00%
- 1M
- 0.19%
- 6M
- 1.18%
- YTD
- 1.27%
- 1Y
- 2.60%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.53%
CCAD.TO
- 1D
- 0.04%
- 1M
- 0.20%
- 6M
- 1.22%
- YTD
- 1.38%
- 1Y
- 2.52%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 2.55%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$319.11K | CA$590.24K | CA$591.55K | |
TCSH.TO TD Cash Management ETF | CA$12.37M | CA$10.17M | CA$9.71M |
TCSH.TO vs. CCAD.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TCSH.TO TD Cash Management ETF | 1.27% | 1.95% |
CCAD.TO CIBC Premium Cash Management ETF | 1.38% | 1.69% |
Correlation
The correlation between TCSH.TO and CCAD.TO is -0.03, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.03 |
Correlation (All Time) Calculated using the full available price history since May 14, 2025 | -0.01 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
TCSH.TO vs. CCAD.TO — Risk / Return Rank
TCSH.TO
CCAD.TO
TCSH.TO vs. CCAD.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TD Cash Management ETF (TCSH.TO) and CIBC Premium Cash Management ETF (CCAD.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.
| TCSH.TO | CCAD.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.80 | ||
| Sortino ratioReturn per unit of downside risk | -6.14 | ||
| Omega ratioGain probability vs. loss probability | 3.04 | 3.96 | -0.91 |
| Calmar ratioReturn relative to maximum drawdown | 26.41 | 31.99 | -5.58 |
| Martin ratioReturn relative to average drawdown | 109.51 | 206.71 | -97.20 |
Loading charts...
Drawdowns
TCSH.TO vs. CCAD.TO - Drawdown Comparison
The maximum TCSH.TO drawdown since its inception was -0.54%, which is greater than CCAD.TO's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for TCSH.TO and CCAD.TO.
Loading charts...
Drawdown Indicators
| TCSH.TO | CCAD.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.54% | -0.08% | -0.46% |
Max Drawdown (1Y)Largest decline over 1 year | -0.10% | -0.08% | -0.02% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.01% | -0.01% | 0.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | 0.01% | +0.01% |
Volatility
TCSH.TO vs. CCAD.TO - Volatility Comparison
TD Cash Management ETF (TCSH.TO) has a higher volatility of 0.09% compared to CIBC Premium Cash Management ETF (CCAD.TO) at 0.06%. This indicates that TCSH.TO's price experiences larger fluctuations and is considered to be riskier than CCAD.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| TCSH.TO | CCAD.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.09% | 0.06% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 0.26% | 0.18% | +0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.44% | 0.33% | +0.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.67% | 0.34% | +0.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.67% | 0.34% | +0.33% |
TCSH.TO vs. CCAD.TO - Expense Ratio Comparison
TCSH.TO has a 0.16% expense ratio, which is higher than CCAD.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
TCSH.TO vs. CCAD.TO - Dividend Comparison
TCSH.TO's dividend yield for the trailing twelve months is around 2.55%, more than CCAD.TO's 2.51% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
CCAD.TO CIBC Premium Cash Management ETF | 2.51% | 1.62% | 0.00% |
TCSH.TO TD Cash Management ETF | 2.55% | 3.03% | 4.21% |
Frequently Asked Questions
TCSH.TO and CCAD.TO have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CCAD.TO is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CCAD.TO is cheaper with a 0.14% expense ratio, compared with 0.16% for TCSH.TO.
TCSH.TO is categorized as Ultrashort Bond, while CCAD.TO is Money Market. They also come from different issuers: TD and CIBC. Their fees differ too: 0.16% for TCSH.TO and 0.14% for CCAD.TO.
Find the right allocation for TCSH.TO and CCAD.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer