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Purpose High Interest Savings Fund (PSA)
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Global X Cash Maximizer Corporate Class ETF (HSAV)
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Global X High Interest Savings ETF (CASH)
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TD Investment Savings Account Series F (TDB8160)
Q: Is TDB8160 as good as these others? What is the advantage or disadvantage to the others, and is one more liquid/safer than the other? Thank you!
5i Research Answer:
We would consider TDB8160 certainly as safe, but also very similar. It has T+1 settlement like the others, and is essentially the same thing, but held directly. It is eligible for CDIC insurance, so would be technically safer up to the CDIC limit ($100,000) per account. The ETFs are essentially the same, but in a tradeable format on the market. Fees are higher on the ETFs though TDB8160 would have built in fees (the bank earns more than it pays out to depositors). Yields vary on all. We would be comfortable with any of these and would only see minor total overall differences.