HISAs, for those in the know, are “High Interest Savings Accounts” and offer a nearly zero risk way to earn some interest on your cash holdings. Read all about them here. “Class F” funds are usually available via your online broker, often bought and sold in the same module as mutual funds, although they are NOT mutual funds.

Both central banks in the Canada and the USA declined to decline their interest rates at their last meetings, so there’s no significant changes to report in the table from last month.

If your broker doesn’t give you access to HISAs (or you have to pay large transaction fees to acquire them¹), then there’s also ETFs that fit the bill, and some of them are now in this table, too.

Provider	Fund	Link	Rate Sheet	Rate
RBC	RBF2011, RBF2021, RBF2031, RBF2041	RBC	Link	2.55%
Scotiabank	DYN6004, DYN5004, DYN3065, DYN3055, DYN3075	Scotiabank	Link	2.70%
Equitable Bank	EQB1001, ETR1001	Equitable Bank	n/a	2.55%
TD	TDB8151, TDB8156, TDB8158, TDB8160	TD	n/a	2.55%
Renaissance	ATL5071	Renaissance	n/a	2.55%
Home Trust	HOM101, HOM201	Home Trust	Link	2.65%
B2B	BTB101	B2B Bank	n/a	2.75%
Manulife	MIP610, MIP810	Manulife	n/a	2.40%
National Bank	NBC200, NBC6200, NBC8200	NBI Altamira CashPerformer	n/a	2.55%
Global X	CASH	CASH Fact Sheet	n/a	2.55%2
Evolve	HISA	HISA Fact Sheet	n/a	2.79%3
BMO	ZMMK	ZMMK Fact Sheet	n/a	2.76%4

Since I hold a substantial amount of USD-denominated ETFs, I also track US interest rates.

Provider	Fund	Link	Rate Sheet	Rate
RBC	RBF2015	RBC	Link	4.15%
Scotiabank	DYN6005, DYN5005	Scotiabank	Link	4.15%
Equitable Bank	EQB1101, ETR1101	Equitable Bank	n/a	3.80%
TD	TDB8153	TD	n/a	4.15%
Renaissance	ATL5075	Renaissance	n/a	4.15%
Manulife	MIP611	Manulife	n/a	3.30%
National Bank	NBC201	NBI Altamira CashPerformer	n/a	4.15%
Global X	UCSH	UCSH Fact Sheet	n/a	4.12%5
Evolve	HISU	HISU Fact Sheet	n/a	4.56%6
iShares	ICSH	ICSH Fact Sheet	n/a	4.87%7

UCSH and HISU invest in HISAs exclusively; I instead use ICSH which is a rough equivalent of ZMMK in terms of portfolio makeup. Like ZMMK, I enjoy a slight premium in yield as a reward for taking a bit more risk.

1. I’m looking at you, Questrade. ↩︎
2. Per July 31, 2025 dividend ↩︎
3. Per July 29 dividend. Given what HISA holds (mostly National Bank and Bank of Nova Scotia HISAs), it’s puzzling how they managed to increase their per share dividend by 1.5 cents from last month, but that’s where it’s at. I wouldn’t expect that rate to continue. The website shows 2.58% yield (net). ↩︎
4. I combined the two dividend payouts issued in July to come up with this number. Not sure why there were two; it’s certainly not the norm. ↩︎
5. Per July 31, 2025 dividend ↩︎
6. Per July 29 dividend. Same comment as for the Canadian side. This rate doesn’t make sense. Website shows 4.22%. ↩︎
7. Per August 1, 2025 dividend. 30 day SEC yield shows 4.52% ↩︎

HISAs, for those in the know, are “High Interest Savings Accounts” and offer a nearly zero risk way to earn some interest on your cash holdings. Read all about them here. “Class F” funds are usually available via your online broker, often bought and sold in the same module as mutual funds, although they are NOT mutual funds.

The table hasn’t changed since May¹, but I’m going to start adding HISA-alternative ETFs to the table just for comparison purposes. CASH and HISA are frequently-used Canadian ETFs that buy HISAs exclusively. I instead use ZMMK, which does not invest in HISAs at all, but instead uses very short term bonds to generate income. This is admittedly a bit riskier than the alternatives but as long as it pays me a bit of a premium, I’m ok with that. I did a market overview of cash and cash-like ETFs back in March, if you’re interested.

Provider	Fund	Link	Rate Sheet	Rate
RBC	RBF2011, RBF2021, RBF2031, RBF2041	RBC	Link	2.55%
Scotiabank	DYN6004, DYN5004, DYN3065, DYN3055, DYN3075	Scotiabank	Link	2.70%
Equitable Bank	EQB1001, ETR1001	Equitable Bank	n/a	2.55%
TD	TDB8151, TDB8156, TDB8158, TDB8160	TD	n/a	2.55%
Renaissance	ATL5071	Renaissance	n/a	2.55%
Home Trust	HOM101, HOM201	Home Trust	Link	2.65%
B2B	BTB101	B2B Bank	n/a	2.75%
Manulife	MIP610, MIP810	Manulife	n/a	2.40%
National Bank	NBC200, NBC6200, NBC8200	NBI Altamira CashPerformer	n/a	2.55%
Global X	CASH	CASH Fact Sheet	n/a	2.55%2
Evolve	HISA	HISA Fact Sheet	n/a	2.46%3
BMO	ZMMK	ZMMK Fact Sheet	n/a	2.88%4

Since I hold a substantial amount of USD-denominated ETFs, I also track US interest rates.

Provider	Fund	Link	Rate Sheet	Rate
RBC	RBF2015	RBC	Link	4.15%
Scotiabank	DYN6005, DYN5005	Scotiabank	Link	4.15%
Equitable Bank	EQB1101, ETR1101	Equitable Bank	n/a	3.80%
TD	TDB8153	TD	n/a	4.15%
Renaissance	ATL5075	Renaissance	n/a	4.15%
Manulife	MIP611	Manulife	n/a	3.30%
National Bank	NBC201	NBI Altamira CashPerformer	n/a	4.15%
Global X	UCSH	UCSH Fact Sheet	n/a	4.07%5
Evolve	HISU	HISU Fact Sheet	n/a	4.02%6
iShares	ICSH	ICSH Fact Sheet	n/a	4.70%7

UCSH and HISU invest in HISAs exclusively; I instead use ICSH which is a rough equivalent of ZMMK in terms of portfolio makeup. Like ZMMK, I enjoy a slight premium in yield as a reward for taking a bit more risk.

1. The next possible change to Canadian interest rates will be on July 30. The next possible change to US interest rates will be on July 29 or 30, so next month’s table may have some changes, most likely downward. ↩︎
2. Calculated by dividing most recent distribution (June 30, 2025) by NAV price and multiplying by 12. What the providers show on their ETF fact sheet seems a bit random. ↩︎
3. Based on June 26 distribution. ↩︎
4. Based on June 27 distribution ↩︎
5. Based on June 30 distribution ↩︎
6. Based on June 26 distribution. ↩︎
7. Based on July 1 distribution. The 30 Day SEC Yield as of July 2, 2025 shows 4.73% which is in the right ballpark. The SEC Yield appears to be a US effort to provide the investor with apples-to-apples comparisons of current yield. ↩︎