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CBH.TO vs. ZIC.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CBH.TO vs. ZIC.TO

Last updated Jun 4, 2026

CBH.TO (iShares 1-10 Year Laddered Corporate Bond Index ETF) and ZIC.TO (BMO Mid-Term US Investment Grade Corporate Bond Index ETF) are both Corporate Bonds funds - CBH.TO tracks the Morningstar Can Corp Bd GR CAD while ZIC.TO tracks the Bloomberg US Investment Grade 5 to 10 Year Corporate Bond Capped Index. Both are passively managed. Over the past 10 years, CBH.TO returned 2.41%/yr vs 3.47%/yr for ZIC.TO. At a 0.37 correlation, their price movements are largely independent. CBH.TO charges 0.28%/yr vs 0.25%/yr for ZIC.TO.

Performance

CBH.TO vs. ZIC.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares 1-10 Year Laddered Corporate Bond Index ETF (CBH.TO) and BMO Mid-Term US Investment Grade Corporate Bond Index ETF (ZIC.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, CBH.TO achieves a 1.29% return, which is significantly higher than ZIC.TO's 1.06% return. Over the past 10 years, CBH.TO has underperformed ZIC.TO with an annualized return of 2.41%, while ZIC.TO has yielded a comparatively higher 3.47% annualized 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%

ZIC.TO

1D
-0.11%
1M
2.32%
YTD
1.06%
6M
-0.75%
1Y
7.10%
3Y*
6.85%
5Y*
3.89%
10Y*
3.47%
*Multi-year figures are annualized to reflect compound growth (CAGR)

CBH.TO vs. ZIC.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%0.92%0.65%
ZIC.TO
BMO Mid-Term US Investment Grade Corporate Bond Index ETF		1.06%4.24%11.86%6.33%-8.93%-1.36%6.51%9.03%6.40%-1.26%

Correlation

The correlation between CBH.TO and ZIC.TO is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.28

Correlation (3Y)
Calculated over the trailing 3-year period

0.46

Correlation (5Y)
Calculated over the trailing 5-year period

0.45

Correlation (10Y)
Calculated over the trailing 10-year period

0.40

Correlation (All Time)
Calculated using the full available price history since Mar 28, 2013

0.37

The correlation between CBH.TO and ZIC.TO shifts across timeframes, from 0.28 (1 year) to 0.46 (3 years), reflecting how their relationship changes across market environments.

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iShares 1-10 Year Laddered Corporate Bond Index ETF

BMO Mid-Term US Investment Grade Corporate Bond Index ETF

Often compared with CBH.TO:
CBH.TO vs. CBO.TOCBH.TO vs. ZBBB.TOCBH.TO vs. DCBC.TOCBH.TO vs. FCSB.NEOCBH.TO vs. XIGS.TOCBH.TO vs. XIG.TOCBH.TO vs. ZCM.TO
Often compared with ZIC.TO:
ZIC.TO vs. ZBBB.TOZIC.TO vs. XIGS.TOZIC.TO vs. VCB.TOZIC.TO vs. XHB.TOZIC.TO vs. DCBC.TOZIC.TO vs. XCB.TOZIC.TO vs. FCSB.NEO

Return for Risk

CBH.TO vs. ZIC.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CBH.TO
CBH.TO Risk / Return Rank: 3434
Overall Rank
CBH.TO Sharpe Ratio Rank: 3333
Sharpe Ratio Rank
CBH.TO Sortino Ratio Rank: 3232
Sortino Ratio Rank
CBH.TO Omega Ratio Rank: 3333
Omega Ratio Rank
CBH.TO Calmar Ratio Rank: 3535
Calmar Ratio Rank
CBH.TO Martin Ratio Rank: 3434
Martin Ratio Rank
ZIC.TO
ZIC.TO Risk / Return Rank: 3434
Overall Rank
ZIC.TO Sharpe Ratio Rank: 3737
Sharpe Ratio Rank
ZIC.TO Sortino Ratio Rank: 3737
Sortino Ratio Rank
ZIC.TO Omega Ratio Rank: 3636
Omega Ratio Rank
ZIC.TO Calmar Ratio Rank: 3535
Calmar Ratio Rank
ZIC.TO Martin Ratio Rank: 2727
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CBH.TO vs. ZIC.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 Mid-Term US Investment Grade Corporate Bond Index ETF (ZIC.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.TOZIC.TODifference
Sharpe ratioReturn per unit of total volatility
1.19
1.30

-0.11

Sortino ratioReturn per unit of downside risk
1.70
1.91

-0.21

Omega ratioGain probability vs. loss probability

1.22

1.24

-0.01

Calmar ratioReturn relative to maximum drawdown

1.71

1.67

+0.04

Martin ratioReturn relative to average drawdown

5.14

3.61

+1.54

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CBH.TO vs. ZIC.TO - Sharpe Ratio Comparison

The current CBH.TO Sharpe Ratio is 1.19, which is comparable to the ZIC.TO Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of CBH.TO and ZIC.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

CBH.TOZIC.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.19

1.30

-0.11

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.54

0.49

+0.05

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.37

0.39

-0.02

Sharpe Ratio (All Time)

Calculated using the full available price history

0.51

0.59

-0.08

Drawdowns

CBH.TO vs. ZIC.TO - Drawdown Comparison

The maximum CBH.TO drawdown since its inception was -16.36%, smaller than the maximum ZIC.TO drawdown of -19.49%. Use the drawdown chart below to compare losses from any high point for CBH.TO and ZIC.TO.

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Drawdown Indicators

CBH.TOZIC.TODifference

Max Drawdown

Largest peak-to-trough decline

-16.36%

-19.49%

+3.13%

Max Drawdown (1Y)

Largest decline over 1 year

-2.14%

-4.26%

+2.12%

Max Drawdown (3Y)

Largest decline over 3 years

-2.14%

-6.96%

+4.82%

Max Drawdown (5Y)

Largest decline over 5 years

-10.50%

-15.66%

+5.16%

Max Drawdown (10Y)

Largest decline over 10 years

-16.36%

-19.49%

+3.13%

Current Drawdown

Current decline from peak

-0.31%

-1.69%

+1.38%

Average Drawdown

Average peak-to-trough decline

-1.83%

-5.15%

+3.32%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.71%

1.97%

-1.26%

Volatility

CBH.TO vs. ZIC.TO - Volatility Comparison

The current volatility for iShares 1-10 Year Laddered Corporate Bond Index ETF (CBH.TO) is 1.07%, while BMO Mid-Term US Investment Grade Corporate Bond Index ETF (ZIC.TO) has a volatility of 1.68%. This indicates that CBH.TO experiences smaller price fluctuations and is considered to be less risky than ZIC.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.TOZIC.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

1.07%

1.68%

-0.61%

Volatility (6M)

Calculated over the trailing 6-month period

2.28%

4.17%

-1.89%

Volatility (1Y)

Calculated over the trailing 1-year period

3.07%

5.47%

-2.40%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

4.02%

7.95%

-3.93%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.47%

8.91%

-2.44%

CBH.TO vs. ZIC.TO - Expense Ratio Comparison

CBH.TO has a 0.28% expense ratio, which is higher than ZIC.TO's 0.25% expense ratio.

Dividends

CBH.TO vs. ZIC.TO - Dividend Comparison

CBH.TO's dividend yield for the trailing twelve months is around 3.36%, less than ZIC.TO's 4.32% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
ZIC.TO
BMO Mid-Term US Investment Grade Corporate Bond Index ETF		4.32%4.03%3.79%3.84%3.93%3.52%3.46%3.56%3.46%3.32%3.29%3.11%

Frequently Asked Questions

CBH.TO and ZIC.TO have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, ZIC.TO is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

ZIC.TO is cheaper with a 0.25% expense ratio, compared with 0.28% for CBH.TO.

CBH.TO tracks Morningstar Can Corp Bd GR CAD, while ZIC.TO tracks Bloomberg US Investment Grade 5 to 10 Year Corporate Bond Capped Index. They also come from different issuers: iShares and BMO. Their fees differ too: 0.28% for CBH.TO and 0.25% for ZIC.TO.

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