A high interest savings account (HISA) is a traditional banking product that offers a fixed interest rate on deposited funds. It is insured by the Canada Deposit Insurance Corporation (CDIC), providing protection up to $100,000 per depositor. On the other hand, a cash ETF is an exchange-traded fund that invests in highly liquid instruments like cash, short-term debt securities, and other low-risk investments. It offers higher interest rates compared to HISAs but is not insured by CDIC. Another difference is that cash ETFs may take a couple of days to sell and deposit into a bank account, whereas HISAs allow for immediate access to funds.