CBH.TO vs. ZMU.TO
CBH.TO (iShares 1-10 Year Laddered Corporate Bond Index ETF) and ZMU.TO (BMO Mid-Term US IG Corporate Bond Hedged to CAD Index ETF) are both Corporate Bonds funds. Over the past 10 years, CBH.TO returned 2.27%/yr vs 1.66%/yr for ZMU.TO. At a 0.45 correlation, their price movements are largely independent.
Performance
CBH.TO vs. ZMU.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CBH.TO achieves a 1.13% return, which is significantly higher than ZMU.TO's -0.96% return. Over the past 10 years, CBH.TO has outperformed ZMU.TO with an annualized return of 2.27%, while ZMU.TO has yielded a comparatively lower 1.66% annualized return.
CBH.TO
- 1D
- 0.00%
- 1M
- -0.27%
- 6M
- 0.68%
- YTD
- 1.13%
- 1Y
- 4.00%
- 3Y*
- 5.53%
- 5Y*
- 2.08%
- 10Y*
- 2.27%
ZMU.TO
- 1D
- 0.08%
- 1M
- -0.18%
- 6M
- -0.89%
- YTD
- -0.96%
- 1Y
- 2.51%
- 3Y*
- 3.99%
- 5Y*
- -0.42%
- 10Y*
- 1.66%
CBH.TO vs. ZMU.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CBH.TO iShares 1-10 Year Laddered Corporate Bond Index ETF | 1.13% | 4.60% | 6.19% | 6.48% | -6.85% | -2.08% | 7.99% | 5.62% | 0.92% | 0.65% |
ZMU.TO BMO Mid-Term US IG Corporate Bond Hedged to CAD Index ETF | -0.96% | 7.47% | 1.42% | 7.89% | -14.71% | -1.75% | 8.27% | 12.98% | -2.77% | 4.58% |
Correlation
The correlation between CBH.TO and ZMU.TO is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 2013 | 0.45 |
The correlation between CBH.TO and ZMU.TO shifts across timeframes, from 0.43 (1 year) to 0.60 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
CBH.TO vs. ZMU.TO — Risk / Return Rank
CBH.TO
ZMU.TO
CBH.TO vs. ZMU.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 IG Corporate Bond Hedged to CAD Index ETF (ZMU.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CBH.TO | ZMU.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.76 | ||
| Sortino ratioReturn per unit of downside risk | +1.10 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.10 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.88 | 0.81 | +1.07 |
| Martin ratioReturn relative to average drawdown | 5.63 | 1.83 | +3.80 |
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Drawdowns
CBH.TO vs. ZMU.TO - Drawdown Comparison
The maximum CBH.TO drawdown since its inception was -16.36%, smaller than the maximum ZMU.TO drawdown of -21.30%. Use the drawdown chart below to compare losses from any high point for CBH.TO and ZMU.TO.
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Drawdown Indicators
| CBH.TO | ZMU.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.36% | -21.30% | +4.94% |
Max Drawdown (1Y)Largest decline over 1 year | -2.14% | -3.11% | +0.97% |
Max Drawdown (3Y)Largest decline over 3 years | -2.14% | -5.90% | +3.76% |
Max Drawdown (5Y)Largest decline over 5 years | -10.50% | -21.30% | +10.80% |
Max Drawdown (10Y)Largest decline over 10 years | -16.36% | -21.30% | +4.94% |
Current DrawdownCurrent decline from peak | -0.61% | -2.79% | +2.18% |
Average DrawdownAverage peak-to-trough decline | -1.86% | -4.53% | +2.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.71% | 1.37% | -0.66% |
Volatility
CBH.TO vs. ZMU.TO - Volatility Comparison
The current volatility for iShares 1-10 Year Laddered Corporate Bond Index ETF (CBH.TO) is 0.83%, while BMO Mid-Term US IG Corporate Bond Hedged to CAD Index ETF (ZMU.TO) has a volatility of 1.45%. This indicates that CBH.TO experiences smaller price fluctuations and is considered to be less risky than ZMU.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 | ZMU.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.83% | 1.45% | -0.62% |
Volatility (6M)Calculated over the trailing 6-month period | 2.26% | 3.51% | -1.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.11% | 4.73% | -1.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.05% | 6.90% | -2.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.47% | 7.88% | -1.41% |
Dividends
CBH.TO vs. ZMU.TO - Dividend Comparison
CBH.TO's dividend yield for the trailing twelve months is around 3.39%, less than ZMU.TO's 4.51% 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 | 3.39% | 3.32% | 3.21% | 3.28% | 3.17% | 2.91% | 2.92% | 3.33% | 3.65% | 3.82% | 2.59% | 2.94% |
ZMU.TO BMO Mid-Term US IG Corporate Bond Hedged to CAD Index ETF | 4.51% | 4.10% | 4.15% | 4.22% | 4.35% | 3.56% | 3.51% | 3.66% | 3.70% | 3.28% | 3.37% | 3.53% |
Frequently Asked Questions
CBH.TO and ZMU.TO have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: iShares and BMO.
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