UBIL-U.TO vs. TCSH.TO
UBIL-U.TO (Global X 0-3 Month U.S. T-Bill ETF USD) and TCSH.TO (TD Cash Management ETF) are both Ultrashort Bond funds. Both are actively managed. Over the past year, UBIL-U.TO returned 3.85% vs 0.21% for TCSH.TO. At a 0.03 correlation, their price movements are largely independent. UBIL-U.TO charges 0.12%/yr vs 0.16%/yr for TCSH.TO.
Performance
UBIL-U.TO vs. TCSH.TO - Performance Comparison
Loading charts...
Different Trading Currencies
UBIL-U.TO is traded in USD, while TCSH.TO is traded in CAD. To make them comparable, the TCSH.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, UBIL-U.TO achieves a 1.88% return, which is significantly higher than TCSH.TO's -1.18% return.
UBIL-U.TO
- 1D
- 0.02%
- 1M
- 0.29%
- 6M
- 1.76%
- YTD
- 1.88%
- 1Y
- 3.85%
- 3Y*
- 5.00%
- 5Y*
- —
- 10Y*
- —
TCSH.TO
- 1D
- 0.16%
- 1M
- 0.03%
- 6M
- 0.26%
- YTD
- -1.18%
- 1Y
- 0.21%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
UBIL-U.TO vs. TCSH.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
UBIL-U.TO Global X 0-3 Month U.S. T-Bill ETF USD | 1.88% | 4.21% | 4.58% |
TCSH.TO TD Cash Management ETF | -1.18% | 8.03% | -2.09% |
Correlation
The correlation between UBIL-U.TO and TCSH.TO is -0.01, 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 | -0.01 |
Correlation (All Time) Calculated using the full available price history since Feb 23, 2024 | 0.03 |
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
UBIL-U.TO vs. TCSH.TO — Risk / Return Rank
UBIL-U.TO
TCSH.TO
UBIL-U.TO vs. TCSH.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X 0-3 Month U.S. T-Bill ETF USD (UBIL-U.TO) and TD Cash Management ETF (TCSH.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.
| UBIL-U.TO | TCSH.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +12.66 | ||
| Sortino ratioReturn per unit of downside risk | +37.79 | ||
| Omega ratioGain probability vs. loss probability | 10.01 | 1.01 | +8.99 |
| Calmar ratioReturn relative to maximum drawdown | 96.63 | 0.05 | +96.58 |
| Martin ratioReturn relative to average drawdown | 569.18 | 0.11 | +569.06 |
Loading charts...
Drawdowns
UBIL-U.TO vs. TCSH.TO - Drawdown Comparison
The maximum UBIL-U.TO drawdown since its inception was -0.08%, smaller than the maximum TCSH.TO drawdown of -7.38%. Use the drawdown chart below to compare losses from any high point for UBIL-U.TO and TCSH.TO.
Loading charts...
Drawdown Indicators
| UBIL-U.TO | TCSH.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.08% | -7.38% | +7.30% |
Max Drawdown (1Y)Largest decline over 1 year | -0.04% | -4.33% | +4.29% |
Max Drawdown (3Y)Largest decline over 3 years | -0.04% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -2.69% | +2.69% |
Average DrawdownAverage peak-to-trough decline | -0.00% | -1.78% | +1.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 1.83% | -1.82% |
Volatility
UBIL-U.TO vs. TCSH.TO - Volatility Comparison
The current volatility for Global X 0-3 Month U.S. T-Bill ETF USD (UBIL-U.TO) is 0.09%, while TD Cash Management ETF (TCSH.TO) has a volatility of 1.31%. This indicates that UBIL-U.TO experiences smaller price fluctuations and is considered to be less risky than TCSH.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| UBIL-U.TO | TCSH.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.09% | 1.31% | -1.22% |
Volatility (6M)Calculated over the trailing 6-month period | 0.20% | 3.26% | -3.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.30% | 4.36% | -4.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.46% | 5.33% | -4.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.46% | 5.33% | -4.87% |
UBIL-U.TO vs. TCSH.TO - Expense Ratio Comparison
UBIL-U.TO has a 0.12% expense ratio, which is lower than TCSH.TO's 0.16% 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
UBIL-U.TO vs. TCSH.TO - Dividend Comparison
UBIL-U.TO's dividend yield for the trailing twelve months is around 3.65%, more than TCSH.TO's 2.60% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
TCSH.TO TD Cash Management ETF | 2.60% | 3.03% | 4.21% | 0.00% |
UBIL-U.TO Global X 0-3 Month U.S. T-Bill ETF USD | 3.65% | 4.15% | 5.35% | 4.96% |
Frequently Asked Questions
UBIL-U.TO and TCSH.TO have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UBIL-U.TO is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UBIL-U.TO is cheaper with a 0.12% expense ratio, compared with 0.16% for TCSH.TO.
They also come from different issuers: Global X and TD. Their fees differ too: 0.12% for UBIL-U.TO and 0.16% for TCSH.TO.
Find the right allocation for UBIL-U.TO and TCSH.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