FHH.TO vs. ZUH.TO

Last updated Jul 16, 2026

FHH.TO (First Trust AlphaDEX U.S. Health Care Sector Index ETF) and ZUH.TO (BMO Equal Weight US Health Care Hedged to CAD Index ETF) are both Health & Biotech Equities funds - FHH.TO tracks the StrataQuant Health Care Index while ZUH.TO tracks the Solactive Equal Weight US Health Care Index CAD Hedged. Both are passively managed. Over the past 10 years, FHH.TO returned 8.42%/yr vs 6.16%/yr for ZUH.TO. At a 0.28 correlation, their price movements are largely independent.

Performance

FHH.TO vs. ZUH.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in First Trust AlphaDEX U.S. Health Care Sector Index ETF (FHH.TO) and BMO Equal Weight US Health Care Hedged to CAD Index ETF (ZUH.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FHH.TO achieves a 9.08% return, which is significantly higher than ZUH.TO's 4.66% return. Over the past 10 years, FHH.TO has outperformed ZUH.TO with an annualized return of 8.42%, while ZUH.TO has yielded a comparatively lower 6.16% annualized return.

FHH.TO

• 1D: -2.10%
• 1M: 4.40%
• 6M: 6.95%
• YTD: 9.08%
• 1Y: 23.16%
• 3Y*: 6.39%
• 5Y*: 4.14%
• 10Y*: 8.42%

ZUH.TO

• 1D: 0.08%
• 1M: 5.94%
• 6M: 1.76%
• YTD: 4.66%
• 1Y: 18.05%
• 3Y*: 1.75%
• 5Y*: -1.59%
• 10Y*: 6.16%

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

FHH.TO vs. ZUH.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FHH.TO First Trust AlphaDEX U.S. Health Care Sector Index ETF	9.08%	5.83%	9.13%	-6.00%	-8.34%	22.83%	23.20%	16.76%	4.25%	12.14%
ZUH.TO BMO Equal Weight US Health Care Hedged to CAD Index ETF	4.66%	6.34%	-3.86%	-1.73%	-15.65%	15.42%	21.65%	25.99%	-2.83%	25.35%

Correlation

The correlation between FHH.TO and ZUH.TO is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (5Y) Calculated over the trailing 5-year period	0.20
Correlation (10Y) Calculated over the trailing 10-year period	0.27
Correlation (All Time) Calculated using the full available price history since Oct 30, 2014	0.28

Over the past year, the correlation between FHH.TO and ZUH.TO has dropped to 0.04 - well below their long-term average of 0.28, suggesting their price drivers have been diverging.

Return for Risk

FHH.TO vs. ZUH.TO — Risk / Return Rank

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

FHH.TO

FHH.TO Risk / Return Rank: 45
FHH.TO Sharpe Ratio Rank: 49
FHH.TO Sortino Ratio Rank: 51
FHH.TO Omega Ratio Rank: 46
FHH.TO Calmar Ratio Rank: 42
FHH.TO Martin Ratio Rank: 38

ZUH.TO

ZUH.TO Risk / Return Rank: 36
ZUH.TO Sharpe Ratio Rank: 37
ZUH.TO Sortino Ratio Rank: 40
ZUH.TO Omega Ratio Rank: 35
ZUH.TO Calmar Ratio Rank: 37
ZUH.TO Martin Ratio Rank: 32

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.

FHH.TO vs. ZUH.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust AlphaDEX U.S. Health Care Sector Index ETF (FHH.TO) and BMO Equal Weight US Health Care Hedged to CAD Index ETF (ZUH.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.

	FHH.TO	ZUH.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.40	1.13	+0.27
Sortino ratio: Return per unit of downside risk	2.09	1.75	+0.34
Omega ratio: Gain probability vs. loss probability	1.25	1.20	+0.05
Calmar ratio: Return relative to maximum drawdown	1.80	1.57	+0.24
Martin ratio: Return relative to average drawdown	4.88	3.84	+1.05

FHH.TO vs. ZUH.TO - Sharpe Ratio Comparison

The current FHH.TO Sharpe Ratio is 1.40, which is comparable to the ZUH.TO Sharpe Ratio of 1.13. The chart below compares the historical Sharpe Ratios of FHH.TO and ZUH.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.

Drawdowns

FHH.TO vs. ZUH.TO - Drawdown Comparison

The maximum FHH.TO drawdown since its inception was -25.83%, smaller than the maximum ZUH.TO drawdown of -34.21%. Use the drawdown chart below to compare losses from any high point for FHH.TO and ZUH.TO.

Drawdown Indicators

	FHH.TO	ZUH.TO	Difference
Max Drawdown Largest peak-to-trough decline	-25.83%	-34.21%	+8.38%
Max Drawdown (1Y) Largest decline over 1 year	-12.91%	-11.59%	-1.32%
Max Drawdown (3Y) Largest decline over 3 years	-20.20%	-22.23%	+2.03%
Max Drawdown (5Y) Largest decline over 5 years	-21.86%	-34.21%	+12.35%
Max Drawdown (10Y) Largest decline over 10 years	-23.58%	-34.21%	+10.63%
Current Drawdown Current decline from peak	-4.65%	-15.64%	+10.99%
Average Drawdown Average peak-to-trough decline	-8.37%	-9.24%	+0.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.76%	4.72%	+0.04%

Volatility

FHH.TO vs. ZUH.TO - Volatility Comparison

First Trust AlphaDEX U.S. Health Care Sector Index ETF (FHH.TO) and BMO Equal Weight US Health Care Hedged to CAD Index ETF (ZUH.TO) have volatilities of 5.58% and 5.82%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FHH.TO	ZUH.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.58%	5.82%	-0.24%
Volatility (6M) Calculated over the trailing 6-month period	11.85%	11.96%	-0.11%
Volatility (1Y) Calculated over the trailing 1-year period	16.59%	16.21%	+0.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.99%	17.39%	-1.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.71%	18.56%	-1.85%

Dividends

FHH.TO vs. ZUH.TO - Dividend Comparison

FHH.TO's dividend yield for the trailing twelve months is around 0.59%, more than ZUH.TO's 0.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FHH.TO First Trust AlphaDEX U.S. Health Care Sector Index ETF	0.59%	0.12%	0.22%	0.23%	0.39%	5.28%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ZUH.TO BMO Equal Weight US Health Care Hedged to CAD Index ETF	0.52%	0.55%	0.74%	0.73%	0.43%	0.12%	0.37%	0.33%	0.33%	0.36%	0.98%	0.48%

Frequently Asked Questions

Can I hold both FHH.TO and ZUH.TO in my portfolio?

FHH.TO and ZUH.TO have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between FHH.TO and ZUH.TO?

FHH.TO tracks StrataQuant Health Care Index, while ZUH.TO tracks Solactive Equal Weight US Health Care Index CAD Hedged. They also come from different issuers: First Trust and BMO.