CBH.TO vs. ZCB.TO
CBH.TO (iShares 1-10 Year Laddered Corporate Bond Index ETF) and ZCB.TO (BMO Corporate Bond Index ETF) are both Corporate Bonds funds - CBH.TO tracks the Morningstar Can Corp Bd GR CAD while ZCB.TO tracks the FTSE Canada All Corporate Bond Index. Both are passively managed. Over the past 5 years, CBH.TO returned 2.17%/yr vs 2.19%/yr for ZCB.TO. A 0.61 correlation means they provide meaningful diversification when combined. CBH.TO charges 0.28%/yr vs 0.17%/yr for ZCB.TO.
Performance
CBH.TO vs. ZCB.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CBH.TO achieves a 1.29% return, which is significantly lower than ZCB.TO's 1.93% return.
CBH.TO
- 1D
- -0.06%
- 1M
- 1.18%
- YTD
- 1.29%
- 6M
- 1.13%
- 1Y
- 3.64%
- 3Y*
- 5.45%
- 5Y*
- 2.17%
- 10Y*
- 2.41%
ZCB.TO
- 1D
- -0.08%
- 1M
- 1.58%
- YTD
- 1.93%
- 6M
- 1.46%
- 1Y
- 4.16%
- 3Y*
- 6.00%
- 5Y*
- 2.19%
- 10Y*
- —
CBH.TO vs. ZCB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
CBH.TO iShares 1-10 Year Laddered Corporate Bond Index ETF | 1.29% | 4.60% | 6.19% | 6.48% | -6.85% | -2.08% | 7.99% | 5.62% | 1.23% |
ZCB.TO BMO Corporate Bond Index ETF | 1.93% | 3.81% | 6.60% | 8.73% | -10.20% | -2.22% | 8.33% | 8.03% | 1.27% |
Correlation
The correlation between CBH.TO and ZCB.TO is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 2018 | 0.61 |
The correlation between CBH.TO and ZCB.TO shifts across timeframes, from 0.61 (all time) to 0.73 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
CBH.TO vs. ZCB.TO — Risk / Return Rank
CBH.TO
ZCB.TO
CBH.TO vs. ZCB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 1-10 Year Laddered Corporate Bond Index ETF (CBH.TO) and BMO Corporate Bond Index ETF (ZCB.TO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| CBH.TO | ZCB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.07 | ||
| Sortino ratioReturn per unit of downside risk | +0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.21 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.71 | 1.64 | +0.07 |
| Martin ratioReturn relative to average drawdown | 5.14 | 4.82 | +0.32 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CBH.TO | ZCB.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.19 | 1.12 | +0.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.54 | 0.43 | +0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.37 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.51 | 0.56 | -0.05 |
Drawdowns
CBH.TO vs. ZCB.TO - Drawdown Comparison
The maximum CBH.TO drawdown since its inception was -16.36%, roughly equal to the maximum ZCB.TO drawdown of -15.70%. Use the drawdown chart below to compare losses from any high point for CBH.TO and ZCB.TO.
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Drawdown Indicators
| CBH.TO | ZCB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.36% | -15.70% | -0.66% |
Max Drawdown (1Y)Largest decline over 1 year | -2.14% | -2.55% | +0.41% |
Max Drawdown (3Y)Largest decline over 3 years | -2.14% | -3.27% | +1.13% |
Max Drawdown (5Y)Largest decline over 5 years | -10.50% | -14.20% | +3.70% |
Max Drawdown (10Y)Largest decline over 10 years | -16.36% | — | — |
Current DrawdownCurrent decline from peak | -0.31% | -0.10% | -0.21% |
Average DrawdownAverage peak-to-trough decline | -1.83% | -3.70% | +1.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.71% | 0.86% | -0.15% |
Volatility
CBH.TO vs. ZCB.TO - Volatility Comparison
The current volatility for iShares 1-10 Year Laddered Corporate Bond Index ETF (CBH.TO) is 1.07%, while BMO Corporate Bond Index ETF (ZCB.TO) has a volatility of 1.50%. This indicates that CBH.TO experiences smaller price fluctuations and is considered to be less risky than ZCB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CBH.TO | ZCB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.07% | 1.50% | -0.43% |
Volatility (6M)Calculated over the trailing 6-month period | 2.28% | 3.00% | -0.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.07% | 3.72% | -0.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.02% | 5.17% | -1.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.47% | 5.41% | +1.06% |
CBH.TO vs. ZCB.TO - Expense Ratio Comparison
CBH.TO has a 0.28% expense ratio, which is higher than ZCB.TO's 0.17% expense ratio.
Dividends
CBH.TO vs. ZCB.TO - Dividend Comparison
CBH.TO's dividend yield for the trailing twelve months is around 3.36%, less than ZCB.TO's 4.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CBH.TO iShares 1-10 Year Laddered Corporate Bond Index ETF | 3.36% | 3.32% | 3.21% | 3.28% | 3.17% | 2.91% | 2.92% | 3.33% | 3.65% | 3.82% | 3.86% | 3.90% |
ZCB.TO BMO Corporate Bond Index ETF | 4.03% | 4.00% | 3.84% | 3.89% | 3.62% | 3.13% | 2.97% | 3.12% | 3.27% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CBH.TO and ZCB.TO have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZCB.TO is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZCB.TO is cheaper with a 0.17% expense ratio, compared with 0.28% for CBH.TO.
CBH.TO tracks Morningstar Can Corp Bd GR CAD, while ZCB.TO tracks FTSE Canada All Corporate Bond Index. They also come from different issuers: iShares and BMO. Their fees differ too: 0.28% for CBH.TO and 0.17% for ZCB.TO.
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