UCSH-U.TO vs. CBIL.TO
UCSH-U.TO (Global X USD High Interest Savings ETF) and CBIL.TO (Global X 0-3 Month T-Bill ETF) are both exchange-traded funds - UCSH-U.TO is a Money Market fund actively managed by Global X, while CBIL.TO is a Canadian Government Bonds fund actively managed by Global X. Both are actively managed. Over the past year, UCSH-U.TO returned 3.66% vs -0.23% for CBIL.TO. At a correlation of -0.01, they often move in opposite directions.
Performance
UCSH-U.TO vs. CBIL.TO - Performance Comparison
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Different Trading Currencies
UCSH-U.TO is traded in USD, while CBIL.TO is traded in CAD. To make them comparable, the CBIL.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, UCSH-U.TO achieves a 1.76% return, which is significantly higher than CBIL.TO's -1.47% return.
UCSH-U.TO
- 1D
- 0.00%
- 1M
- 0.27%
- 6M
- 1.68%
- YTD
- 1.76%
- 1Y
- 3.66%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CBIL.TO
- 1D
- 0.70%
- 1M
- -0.47%
- 6M
- -0.11%
- YTD
- -1.47%
- 1Y
- -0.23%
- 3Y*
- 1.18%
- 5Y*
- —
- 10Y*
- —
UCSH-U.TO vs. CBIL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
UCSH-U.TO Global X USD High Interest Savings ETF | 1.76% | 4.16% | 4.73% |
CBIL.TO Global X 0-3 Month T-Bill ETF | -1.47% | 7.59% | -2.11% |
Correlation
The correlation between UCSH-U.TO and CBIL.TO is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.13 |
Correlation (All Time) Calculated using the full available price history since Jan 24, 2024 | -0.01 |
The correlation between UCSH-U.TO and CBIL.TO shifts across timeframes, from -0.13 (1 year) to -0.01 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
UCSH-U.TO vs. CBIL.TO — Risk / Return Rank
UCSH-U.TO
CBIL.TO
UCSH-U.TO vs. CBIL.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X USD High Interest Savings ETF (UCSH-U.TO) and Global X 0-3 Month T-Bill ETF (CBIL.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.
| UCSH-U.TO | CBIL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +12.43 | ||
| Sortino ratioReturn per unit of downside risk | +42.51 | ||
| Omega ratioGain probability vs. loss probability | 12.24 | 0.99 | +11.24 |
| Calmar ratioReturn relative to maximum drawdown | 91.84 | -0.05 | +91.89 |
| Martin ratioReturn relative to average drawdown | 635.32 | -0.12 | +635.44 |
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Drawdowns
UCSH-U.TO vs. CBIL.TO - Drawdown Comparison
The maximum UCSH-U.TO drawdown since its inception was -0.04%, smaller than the maximum CBIL.TO drawdown of -7.62%. Use the drawdown chart below to compare losses from any high point for UCSH-U.TO and CBIL.TO.
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Drawdown Indicators
| UCSH-U.TO | CBIL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.04% | -7.62% | +7.58% |
Max Drawdown (1Y)Largest decline over 1 year | -0.04% | -4.41% | +4.37% |
Max Drawdown (3Y)Largest decline over 3 years | — | -7.62% | — |
Current DrawdownCurrent decline from peak | 0.00% | -3.07% | +3.07% |
Average DrawdownAverage peak-to-trough decline | -0.00% | -1.92% | +1.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 1.87% | -1.86% |
Volatility
UCSH-U.TO vs. CBIL.TO - Volatility Comparison
The current volatility for Global X USD High Interest Savings ETF (UCSH-U.TO) is 0.08%, while Global X 0-3 Month T-Bill ETF (CBIL.TO) has a volatility of 1.29%. This indicates that UCSH-U.TO experiences smaller price fluctuations and is considered to be less risky than CBIL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UCSH-U.TO | CBIL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.08% | 1.29% | -1.21% |
Volatility (6M)Calculated over the trailing 6-month period | 0.20% | 3.31% | -3.11% |
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 | 0.31% | 5.39% | -5.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.31% | 5.39% | -5.08% |
Dividends
UCSH-U.TO vs. CBIL.TO - Dividend Comparison
UCSH-U.TO's dividend yield for the trailing twelve months is around 3.65%, more than CBIL.TO's 2.25% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
CBIL.TO Global X 0-3 Month T-Bill ETF | 2.25% | 2.58% | 4.38% | 3.39% |
UCSH-U.TO Global X USD High Interest Savings ETF | 3.65% | 4.04% | 4.71% | 0.00% |
Frequently Asked Questions
UCSH-U.TO and CBIL.TO have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UCSH-U.TO is categorized as Money Market, while CBIL.TO is Canadian Government Bonds.
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