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iShares Premium Money Market ETF (CMR)
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Global X High Interest Savings ETF (CASH)
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BMO Money Market Fund (ZMMK)
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High Interest Savings Account ETF (HISA)
Q: I right now have 100,000 in cash (Canadian Dollars) that I want to keep in Money Market ETFs for the Short Term.
I have been trying to find the yield for all of the above and it is not easy because most of them show me the annualized yield. Interest rates have come down several times in the last year so the annual yield is not the best way to compare the above funds.
Which of the two funds above do you recommend, the reasons why and what is the current yield on it.
My brokerage account is with Questrade and they do not offer any of their own High Interest Savings Accounts like TD Direct Investing.
Thank You.
I have been trying to find the yield for all of the above and it is not easy because most of them show me the annualized yield. Interest rates have come down several times in the last year so the annual yield is not the best way to compare the above funds.
Which of the two funds above do you recommend, the reasons why and what is the current yield on it.
My brokerage account is with Questrade and they do not offer any of their own High Interest Savings Accounts like TD Direct Investing.
Thank You.
5i Research Answer:
We would be largely indifferent here, with safety and yields very similar. We would be fine with CASH (2.69%) and ZMMK (3.60%).