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  5. CASH: I understand this is a new ETF issued by TD Asset Management. [Global X High Interest Savings ETF]
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Q: I understand this is a new ETF issued by TD Asset Management. There is a little information on its website. I am interested in it as a short term cash management option. I could not determine the yield. If you look at the current holdings, it states over 90% is invested in other than Canada. In its top 10 it holds a number of Trusts and when you look into these they represent a range of money market investment options including car loans, credit card debt, etc. Though it states the risk is low, its holdings would seem to suggest otherwise. Firstly, can you compare TCSH yield with that of GICs or HISAs. Further, do you have an opinion of this ETF as a place to park money. If you prefer other like ETFs would you also state how you would rank them. Thank you.
Asked by Ken on March 11, 2024
5i Research Answer:

With only $16M in assets, we would not yet endorse TCSH. TD indicates current yield to maturity is 5.20%. We would be less concerned about the quality of the holdings as everything is short term (less than a year, but the average holding should be much less than a year). Still, it is not guaranteed, but neither are any of the other cash ETFs. PSA's indicated yield is 4.67%. CASH is also 4.67%. Three-year GICs (locked in) pay 4.95% at the highest rate right now. HISA pays 4.49%. We are largely indifferent between these other products. Yields will vary so it is hard to rank them as comparitive rates are always changing. We would be fine with CASH, PSA, HISA in that order but as noted we think any will do. 

Authors of this answer, directors, partners and/or officers of 5i Research and/or affiliated companies have a financial or other interest in PSA.

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