TCSH.TO vs. TCLV.TO
TCSH.TO (TD Cash Management ETF) and TCLV.TO (TD Q Canadian Low Volatility ETF) are both exchange-traded funds - TCSH.TO is a Ultrashort Bond fund actively managed by TD, while TCLV.TO is a Canada Equities fund actively managed by TD. Both are actively managed. Over the past year, TCSH.TO returned 2.64% vs 16.37% for TCLV.TO. At a correlation of -0.01, they often move in opposite directions. TCSH.TO charges 0.16%/yr vs 0.33%/yr for TCLV.TO.
Performance
TCSH.TO vs. TCLV.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, TCSH.TO achieves a 1.14% return, which is significantly lower than TCLV.TO's 8.37% return.
TCSH.TO
- 1D
- 0.01%
- 1M
- 0.19%
- 6M
- 1.20%
- YTD
- 1.14%
- 1Y
- 2.64%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TCLV.TO
- 1D
- -0.53%
- 1M
- 1.95%
- 6M
- 8.16%
- YTD
- 8.37%
- 1Y
- 16.37%
- 3Y*
- 16.98%
- 5Y*
- 11.71%
- 10Y*
- —
TCSH.TO vs. TCLV.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
TCSH.TO TD Cash Management ETF | 1.14% | 3.09% | 4.22% |
TCLV.TO TD Q Canadian Low Volatility ETF | 8.37% | 24.55% | 12.21% |
Correlation
The correlation between TCSH.TO and TCLV.TO is -0.02, 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 | -0.02 |
Correlation (All Time) Calculated using the full available price history since Feb 23, 2024 | -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. TCLV.TO — Risk / Return Rank
TCSH.TO
TCLV.TO
TCSH.TO vs. TCLV.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TD Cash Management ETF (TCSH.TO) and TD Q Canadian Low Volatility ETF (TCLV.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 | TCLV.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.99 | ||
| Sortino ratioReturn per unit of downside risk | +8.27 | ||
| Omega ratioGain probability vs. loss probability | 3.00 | 1.37 | +1.64 |
| Calmar ratioReturn relative to maximum drawdown | 26.51 | 3.40 | +23.11 |
| Martin ratioReturn relative to average drawdown | 110.39 | 13.59 | +96.80 |
Loading charts...
Drawdowns
TCSH.TO vs. TCLV.TO - Drawdown Comparison
The maximum TCSH.TO drawdown since its inception was -0.54%, smaller than the maximum TCLV.TO drawdown of -15.27%. Use the drawdown chart below to compare losses from any high point for TCSH.TO and TCLV.TO.
Loading charts...
Drawdown Indicators
| TCSH.TO | TCLV.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.54% | -15.27% | +14.73% |
Max Drawdown (1Y)Largest decline over 1 year | -0.10% | -4.84% | +4.74% |
Max Drawdown (3Y)Largest decline over 3 years | — | -9.15% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -15.27% | — |
Current DrawdownCurrent decline from peak | -0.00% | -0.53% | +0.53% |
Average DrawdownAverage peak-to-trough decline | -0.01% | -3.02% | +3.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | 1.21% | -1.19% |
Volatility
TCSH.TO vs. TCLV.TO - Volatility Comparison
The current volatility for TD Cash Management ETF (TCSH.TO) is 0.08%, while TD Q Canadian Low Volatility ETF (TCLV.TO) has a volatility of 2.64%. This indicates that TCSH.TO experiences smaller price fluctuations and is considered to be less risky than TCLV.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| TCSH.TO | TCLV.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.08% | 2.64% | -2.56% |
Volatility (6M)Calculated over the trailing 6-month period | 0.26% | 6.71% | -6.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.44% | 8.25% | -7.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.68% | 9.70% | -9.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.68% | 9.77% | -9.09% |
TCSH.TO vs. TCLV.TO - Expense Ratio Comparison
TCSH.TO has a 0.16% expense ratio, which is lower than TCLV.TO's 0.33% expense ratio.
Dividends
TCSH.TO vs. TCLV.TO - Dividend Comparison
TCSH.TO's dividend yield for the trailing twelve months is around 2.60%, more than TCLV.TO's 1.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
TCLV.TO TD Q Canadian Low Volatility ETF | 1.83% | 1.88% | 2.68% | 3.15% | 2.84% | 2.64% | 1.59% |
TCSH.TO TD Cash Management ETF | 2.60% | 3.03% | 4.21% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TCSH.TO and TCLV.TO have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TCSH.TO is cheaper at 0.16% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TCSH.TO is cheaper with a 0.16% expense ratio, compared with 0.33% for TCLV.TO.
TCSH.TO is categorized as Ultrashort Bond, while TCLV.TO is Canada Equities. Their fees differ too: 0.16% for TCSH.TO and 0.33% for TCLV.TO.
Find the right allocation for TCSH.TO and TCLV.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