TPU.TO vs. CMR.TO
TPU.TO (TD U.S. Equity Index ETF) and CMR.TO (iShares Premium Money Market ETF) are both exchange-traded funds - TPU.TO is a Large Cap Blend Equities fund tracking the Solactive US Large Cap CAD Index, while CMR.TO is a Money Market fund actively managed by iShares. TPU.TO is passively managed, while CMR.TO is actively managed. Over the past 10 years, TPU.TO returned 16.40%/yr vs 1.92%/yr for CMR.TO. At a 0.03 correlation, their price movements are largely independent. TPU.TO charges 0.06%/yr vs 0.13%/yr for CMR.TO.
Performance
TPU.TO vs. CMR.TO - Performance Comparison
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Returns By Period
In the year-to-date period, TPU.TO achieves a 12.18% return, which is significantly higher than CMR.TO's 1.11% return. Over the past 10 years, TPU.TO has outperformed CMR.TO with an annualized return of 16.40%, while CMR.TO has yielded a comparatively lower 1.92% annualized return.
TPU.TO
- 1D
- -1.12%
- 1M
- 1.65%
- YTD
- 12.18%
- 6M
- 11.41%
- 1Y
- 27.96%
- 3Y*
- 24.09%
- 5Y*
- 15.85%
- 10Y*
- 16.40%
CMR.TO
- 1D
- 0.00%
- 1M
- 0.18%
- YTD
- 1.11%
- 6M
- 1.17%
- 1Y
- 2.49%
- 3Y*
- 3.74%
- 5Y*
- 2.99%
- 10Y*
- 1.92%
TPU.TO vs. CMR.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TPU.TO TD U.S. Equity Index ETF | 12.18% | 12.69% | 35.78% | 24.25% | -14.31% | 26.02% | 18.73% | 25.02% | 3.03% | 13.31% |
CMR.TO iShares Premium Money Market ETF | 1.11% | 2.78% | 4.70% | 4.70% | 1.72% | 0.00% | 0.47% | 1.63% | 1.29% | 0.63% |
Correlation
The correlation between TPU.TO and CMR.TO is 0.07, 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 | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Mar 30, 2016 | 0.03 |
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Return for Risk
TPU.TO vs. CMR.TO — Risk / Return Rank
TPU.TO
CMR.TO
TPU.TO vs. CMR.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TD U.S. Equity Index ETF (TPU.TO) and iShares Premium Money Market ETF (CMR.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.
| TPU.TO | CMR.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -10.06 | ||
| Sortino ratioReturn per unit of downside risk | -35.97 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 13.32 | -11.90 |
| Calmar ratioReturn relative to maximum drawdown | 3.24 | 125.12 | -121.88 |
| Martin ratioReturn relative to average drawdown | 11.93 | 572.45 | -560.53 |
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Drawdowns
TPU.TO vs. CMR.TO - Drawdown Comparison
The maximum TPU.TO drawdown since its inception was -27.96%, which is greater than CMR.TO's maximum drawdown of -0.52%. Use the drawdown chart below to compare losses from any high point for TPU.TO and CMR.TO.
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Drawdown Indicators
| TPU.TO | CMR.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.96% | -0.52% | -27.44% |
Max Drawdown (1Y)Largest decline over 1 year | -8.68% | -0.02% | -8.66% |
Max Drawdown (3Y)Largest decline over 3 years | -19.30% | -0.04% | -19.26% |
Max Drawdown (5Y)Largest decline over 5 years | -23.73% | -0.04% | -23.69% |
Max Drawdown (10Y)Largest decline over 10 years | -27.96% | -0.14% | -27.82% |
Current DrawdownCurrent decline from peak | -1.60% | 0.00% | -1.60% |
Average DrawdownAverage peak-to-trough decline | -3.96% | -0.01% | -3.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.35% | 0.00% | +2.35% |
Volatility
TPU.TO vs. CMR.TO - Volatility Comparison
TD U.S. Equity Index ETF (TPU.TO) has a higher volatility of 4.73% compared to iShares Premium Money Market ETF (CMR.TO) at 0.07%. This indicates that TPU.TO's price experiences larger fluctuations and is considered to be riskier than CMR.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TPU.TO | CMR.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.73% | 0.07% | +4.66% |
Volatility (6M)Calculated over the trailing 6-month period | 9.65% | 0.15% | +9.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.40% | 0.20% | +12.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.45% | 0.27% | +15.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.78% | 0.27% | +16.51% |
TPU.TO vs. CMR.TO - Expense Ratio Comparison
TPU.TO has a 0.06% expense ratio, which is lower than CMR.TO's 0.13% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
TPU.TO vs. CMR.TO - Dividend Comparison
TPU.TO's dividend yield for the trailing twelve months is around 0.85%, less than CMR.TO's 2.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMR.TO iShares Premium Money Market ETF | 2.48% | 2.81% | 4.56% | 4.64% | 1.63% | 0.00% | 0.47% | 1.60% | 1.33% | 0.61% | 0.43% | 0.48% |
TPU.TO TD U.S. Equity Index ETF | 0.85% | 0.96% | 0.90% | 1.23% | 1.34% | 0.99% | 1.23% | 1.23% | 1.57% | 1.59% | 1.33% | 0.00% |
Frequently Asked Questions
TPU.TO and CMR.TO have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TPU.TO is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TPU.TO is cheaper with a 0.06% expense ratio, compared with 0.13% for CMR.TO.
TPU.TO is categorized as Large Cap Blend Equities, while CMR.TO is Money Market. They also come from different issuers: TD and iShares. Their fees differ too: 0.06% for TPU.TO and 0.13% for CMR.TO.
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