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Quick verdict: CASH.TO can be useful for Canadians who want a simple ETF-style place to park cash inside a brokerage account. It offers monthly income, daily trading liquidity, and exposure to high-interest deposit accounts at Canadian banks. The tradeoff is important: CASH is not a bank savings account, it is not CDIC-insured, and its yield can fall when interest rates fall.
This CASH ETF review covers the Global X High Interest Savings ETF, commonly searched as CASH.TO or simply CASH ETF. We’ll look at how it works, current yield, fees, holdings, risks, taxes, and whether it makes sense for short-term savings in Canada.
What is CASH.TO?
CASH is the Global X High Interest Savings ETF. It trades on the Toronto Stock Exchange under the ticker CASH. The fund’s objective is to maximize monthly income while preserving capital and liquidity by investing primarily in high-interest deposit accounts with Canadian banks.
According to the official Global X CASH page, CASH invests almost all of its assets in high-interest deposit accounts with one or more Canadian chartered banks and is designed to provide monthly distributions.
In plain English: CASH.TO is an ETF that tries to behave like a cash-parking vehicle. It is not built for long-term growth like an equity ETF. It is built for liquidity and income.
CASH ETF facts
| Feature | CASH |
|---|---|
| Full name | Global X High Interest Savings ETF |
| Ticker | CASH |
| Exchange | Toronto Stock Exchange |
| Currency | CAD |
| Investment manager | Global X Investments Canada Inc. |
| Inception date | November 1, 2021 |
| Management fee | 0.10% plus applicable sales tax |
| MER | 0.11% as of Dec. 31, 2025 |
| Distribution frequency | Monthly, if any |
| Eligibility | Registered and non-registered accounts |
| Net assets | $6,715,002,207 as of Apr. 30, 2026 |
Source: Global X product page, April 30, 2026.
How does CASH.TO work?
CASH.TO holds high-interest cash accounts rather than a portfolio of stocks. The ETF receives interest from those deposits, deducts expenses, and pays monthly distributions to unitholders when distributions are declared.
The ETF’s price usually trades close to its net asset value, around $50 per unit, but it can move slightly. It is bought and sold during the trading day like other ETFs.
The appeal is convenience. If your money is already inside a self-directed brokerage account, CASH can be easier than moving money back and forth between a bank account, HISA, GIC, and brokerage.
CASH.TO yield
As of April 30, 2026, Global X listed CASH with a 1.70% annualized distribution yield, a 2.16% gross yield effective April 17, 2026, and a 12-month trailing yield of 2.31%.
Those numbers can change quickly. CASH.TO’s yield is tied to the interest earned on its cash deposits, so it tends to move with the broader interest-rate environment. If rates fall, monthly distributions can fall too. If rates rise, the yield can improve after the fund’s deposits reset.
Do not judge CASH only by a stale yield shown in an old article. Always check the current Global X page before buying.
What does CASH.TO hold?
CASH primarily holds cash accounts at Canadian financial institutions. As of April 30, 2026, Global X listed the largest holdings as National Bank cash account, Scotiabank cash account, CIBC cash account, another Scotiabank cash account, CIBC Mellon cash account, and a small cash position.
This is why CASH behaves very differently from an equity ETF like VFV or XEQT. You are not buying companies. You are buying an ETF structure that holds high-interest deposit accounts and pays monthly income when available.
Is CASH.TO CDIC insured?
No. This is one of the most important details. Global X states that CASH is a money market fund and is not covered by the Canada Deposit Insurance Corporation, the FDIC, or any other government deposit insurer.
That does not mean CASH is reckless. It means it is not the same thing as a CDIC-insured savings account or GIC held directly at a member institution. If CDIC coverage is non-negotiable for you, use a CDIC-eligible savings account or GIC instead. CDIC also lists exchange-traded funds as products that are not eligible for deposit insurance on its what is covered page.
CASH.TO vs HISA vs GIC
| Option | Best for | Main tradeoff |
|---|---|---|
| CASH.TO | Parking cash inside a brokerage account | Not CDIC-insured; yield changes |
| High-interest savings account | Simple bank-based cash savings | Rates vary by bank and promo period |
| GIC | Known rate for a fixed term | Less flexible if non-redeemable |
If you are deciding between a bank savings account and a guaranteed certificate, read our GIC vs HISA comparison. CASH sits in a different lane: it is most useful when your cash is already inside a brokerage account and you want ETF-style liquidity.
When CASH.TO makes sense
CASH.TO can make sense for:
- short-term cash inside a brokerage account,
- money waiting to be invested,
- cash you want to keep liquid,
- a down payment fund if you understand the lack of CDIC insurance,
- TFSA, FHSA, RRSP, or non-registered cash allocations where ETF liquidity is useful.
If you are saving for a first home, CASH could be one option for money you do not want exposed to stock-market volatility. But account choice matters too. Read our FHSA guide and FHSA vs TFSA comparison before deciding where to hold the cash.
When CASH.TO is not a good fit
CASH.TO is probably not the right fit if:
- you need CDIC protection,
- you are investing for long-term growth,
- you do not want yield to change,
- your brokerage charges commissions that eat into the benefit,
- you may need instant bill-payment access from a bank account.
For long-term investing, cash ETFs are usually not enough. You may need equity exposure through ETFs or stocks depending on your risk tolerance and timeline. Start with what an ETF is and stocks vs ETFs if you are still building the basics.
CASH.TO fees
Global X listed CASH with a 0.10% management fee plus applicable sales tax and a 0.11% MER as of December 31, 2025. The trading expense ratio was listed at 0.00% for the same date.
The MER is low, but it still matters because cash yields are usually much lower than stock returns. If CASH yields 2% and the MER is 0.11%, that fee is a visible part of the return. For more on fees, read what MER means.
Tax treatment of CASH.TO
CASH.TO distributions are generally taxable in a non-registered account based on the character reported on your tax slips. Do not assume they are treated like eligible Canadian dividends. Cash ETF income is usually closer to interest-style income than dividend growth investing.
Inside a TFSA, RRSP, or FHSA, the tax treatment follows the account rules. In a TFSA or FHSA, eligible withdrawals can be tax-free. In an RRSP, withdrawals are taxable. Always confirm your own account rules and tax slips.
Can you hold CASH.TO in a TFSA or FHSA?
Yes. Global X lists CASH as eligible for registered and non-registered investment accounts. That means it can be held in accounts like a TFSA, RRSP, FHSA, or non-registered account, assuming your brokerage supports the trade.
For a TFSA, CASH can make sense for short-term cash you want to keep stable, but using TFSA room for cash has an opportunity cost if you also need long-term growth. For a FHSA, CASH can make sense when your home-buying timeline is short and you do not want stock-market risk.
If you are checking TFSA room, use our TFSA contribution room calculator.
How to buy CASH.TO
You buy CASH.TO through a Canadian brokerage the same way you buy an ETF. Search the ticker CASH, choose the account, place an order, and confirm the trade.
Because CASH is a cash-management ETF, trading costs matter. If your broker charges commissions, frequent small trades can reduce the benefit. If you are comparing platforms, read Wealthsimple vs Questrade. If Questrade fits your needs, you can open a Questrade account here. Bonus offers can change, and this is an affiliate link.
Final verdict: is CASH.TO worth it?
CASH.TO is worth considering if you want to park cash inside a brokerage account, collect monthly income, and keep the money liquid. It can be useful for money waiting to be invested, short-term savings inside registered accounts, or conservative cash allocations.
It is not a replacement for a CDIC-insured bank account if government deposit insurance is your priority. It is also not a long-term growth investment. Treat it as a cash tool, not a portfolio engine.
This is general information, not personalized financial advice. ETF yields, fees, holdings, and distributions can change, so verify current details with Global X before investing.
FAQ
What is CASH.TO?
CASH.TO is the Global X High Interest Savings ETF. It trades on the TSX under the ticker CASH and invests primarily in high-interest deposit accounts with Canadian banks.
Is CASH.TO safe?
CASH.TO is relatively conservative compared with stock ETFs, but it is not risk-free. Global X states that CASH is not covered by CDIC or any other government deposit insurer.
Is CASH.TO CDIC insured?
No. Global X states that CASH is not covered by Canada Deposit Insurance Corporation protection.
What is CASH.TO’s yield?
As of April 30, 2026, Global X listed CASH with a 1.70% annualized distribution yield and a 2.16% gross yield effective April 17, 2026. Yields change over time.
Does CASH.TO pay monthly?
Yes, CASH is designed to pay monthly distributions if distributions are declared.
Can I hold CASH.TO in a TFSA?
Yes. Global X lists CASH as eligible for registered and non-registered investment accounts, which includes TFSAs if your brokerage supports the trade.
Last updated: May 1, 2026
