CPHY vs. ZHOG

Last updated Jun 5, 2026

CPHY (F/m Compoundr High Yield Bond ETF) and ZHOG (F/m Opportunistic Income ETF) are both exchange-traded funds - CPHY is a High Yield Bonds fund tracking the Nasdaq Compoundr U.S. High Yield Bond Index, while ZHOG is a Intermediate Core-Plus Bond fund actively managed by F/m Investments. CPHY is passively managed, while ZHOG is actively managed. A 0.65 correlation means they provide meaningful diversification when combined. CPHY charges 0.35%/yr vs 0.43%/yr for ZHOG.

Performance

CPHY vs. ZHOG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in F/m Compoundr High Yield Bond ETF (CPHY) and F/m Opportunistic Income ETF (ZHOG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CPHY achieves a 0.42% return, which is significantly lower than ZHOG's 0.83% return.

CPHY

• 1D: 0.17%
• 1M: 0.38%
• YTD: 0.42%
• 6M: 0.83%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ZHOG

• 1D: 0.06%
• 1M: 0.20%
• YTD: 0.83%
• 6M: 1.21%
• 1Y: 5.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CPHY vs. ZHOG - Yearly Performance Comparison

	2026 (YTD)	2025
CPHY F/m Compoundr High Yield Bond ETF	0.42%	2.31%
ZHOG F/m Opportunistic Income ETF	0.83%	2.59%

Correlation

The correlation between CPHY and ZHOG is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 13, 2025	0.65

Return for Risk

CPHY vs. ZHOG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ZHOG

ZHOG Risk / Return Rank: 90
ZHOG Sharpe Ratio Rank: 93
ZHOG Sortino Ratio Rank: 96
ZHOG Omega Ratio Rank: 95
ZHOG Calmar Ratio Rank: 80
ZHOG Martin Ratio Rank: 86

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.

CPHY vs. ZHOG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for F/m Compoundr High Yield Bond ETF (CPHY) and F/m Opportunistic Income ETF (ZHOG). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	CPHY	ZHOG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.42	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.95	1.62	-0.67

Drawdowns

CPHY vs. ZHOG - Drawdown Comparison

The maximum CPHY drawdown since its inception was -2.51%, smaller than the maximum ZHOG drawdown of -3.66%. Use the drawdown chart below to compare losses from any high point for CPHY and ZHOG.

Drawdown Indicators

	CPHY	ZHOG	Difference
Max Drawdown Largest peak-to-trough decline	-2.51%	-3.66%	+1.15%
Max Drawdown (1Y) Largest decline over 1 year	—	-1.31%	—
Current Drawdown Current decline from peak	-0.57%	-0.02%	-0.55%
Average Drawdown Average peak-to-trough decline	-0.56%	-0.70%	+0.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.30%	—

Volatility

Volatility by Period

	CPHY	ZHOG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.45%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.14%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.58%	1.59%	+1.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.58%	4.01%	-0.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.58%	4.01%	-0.43%

CPHY vs. ZHOG - Expense Ratio Comparison

CPHY has a 0.35% expense ratio, which is lower than ZHOG's 0.43% expense ratio.

Dividends

CPHY vs. ZHOG - Dividend Comparison

CPHY has not paid dividends to shareholders, while ZHOG's dividend yield for the trailing twelve months is around 5.11%.

Position	TTM	2025	2024	2023
CPHY F/m Compoundr High Yield Bond ETF	0.00%	0.00%	0.00%	0.00%
ZHOG F/m Opportunistic Income ETF	5.11%	5.35%	5.50%	1.70%

Frequently Asked Questions

Can I hold both CPHY and ZHOG in my portfolio?

CPHY and ZHOG have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CPHY or ZHOG?

On fees, CPHY is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CPHY or ZHOG?

CPHY is cheaper with a 0.35% expense ratio, compared with 0.43% for ZHOG.

Which ETF pays a higher dividend yield, CPHY or ZHOG?

ZHOG has the higher dividend yield at 5.11%, compared with 0.00% for CPHY.

What is the main difference between CPHY and ZHOG?

CPHY is categorized as High Yield Bonds, while ZHOG is Intermediate Core-Plus Bond. Their fees differ too: 0.35% for CPHY and 0.43% for ZHOG.