FIG.TO vs. ZCS.TO
FIG.TO (CI Investment Grade Bond ETF) and ZCS.TO (BMO Short Corporate Bond Index ETF) are both Corporate Bonds funds. FIG.TO is actively managed, while ZCS.TO is passively managed. Over the past 10 years, FIG.TO returned 2.20%/yr vs 2.77%/yr for ZCS.TO. At a 0.29 correlation, their price movements are largely independent.
Performance
FIG.TO vs. ZCS.TO - Performance Comparison
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Returns By Period
In the year-to-date period, FIG.TO achieves a 1.08% return, which is significantly lower than ZCS.TO's 1.31% return. Over the past 10 years, FIG.TO has underperformed ZCS.TO with an annualized return of 2.20%, while ZCS.TO has yielded a comparatively higher 2.77% annualized return.
FIG.TO
- 1D
- -0.11%
- 1M
- -1.05%
- 6M
- 0.45%
- YTD
- 1.08%
- 1Y
- 3.90%
- 3Y*
- 5.55%
- 5Y*
- 0.64%
- 10Y*
- 2.20%
- ALL TIME*
- 2.99%
ZCS.TO
- 1D
- 0.14%
- 1M
- -0.38%
- 6M
- 0.95%
- YTD
- 1.31%
- 1Y
- 3.64%
- 3Y*
- 6.13%
- 5Y*
- 2.83%
- 10Y*
- 2.77%
- ALL TIME*
- 2.98%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$4.68K | CA$7.04K | CA$27.00K | |
| CA$1.39M | CA$1.61M | CA$1.72M |
FIG.TO vs. ZCS.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FIG.TO CI Investment Grade Bond ETF | 1.08% | 5.12% | 5.10% | 6.23% | -12.53% | -1.69% | 7.78% | 6.98% | -0.12% | 5.06% |
ZCS.TO BMO Short Corporate Bond Index ETF | 1.31% | 4.41% | 7.42% | 6.67% | -4.48% | -0.76% | 6.10% | 5.01% | 1.23% | 1.04% |
Correlation
The correlation between FIG.TO and ZCS.TO is 0.51, 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 | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Oct 26, 2009 | 0.29 |
Over the past year, FIG.TO and ZCS.TO have become more correlated (0.51) than their long-term average of 0.29, meaning their price movements have been converging.
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Return for Risk
FIG.TO vs. ZCS.TO — Risk / Return Rank
FIG.TO
ZCS.TO
FIG.TO vs. ZCS.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CI Investment Grade Bond ETF (FIG.TO) and BMO Short Corporate Bond Index ETF (ZCS.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.
| FIG.TO | ZCS.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.84 | ||
| Sortino ratioReturn per unit of downside risk | -1.08 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.36 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 1.73 | 2.24 | -0.51 |
| Martin ratioReturn relative to average drawdown | 4.15 | 8.84 | -4.69 |
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Drawdowns
FIG.TO vs. ZCS.TO - Drawdown Comparison
The maximum FIG.TO drawdown since its inception was -16.80%, which is greater than ZCS.TO's maximum drawdown of -13.95%. Use the drawdown chart below to compare losses from any high point for FIG.TO and ZCS.TO.
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Drawdown Indicators
| FIG.TO | ZCS.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.80% | -13.95% | -2.85% |
Max Drawdown (1Y)Largest decline over 1 year | -2.27% | -1.63% | -0.64% |
Max Drawdown (3Y)Largest decline over 3 years | -2.97% | -1.63% | -1.34% |
Max Drawdown (5Y)Largest decline over 5 years | -15.97% | -7.76% | -8.21% |
Max Drawdown (10Y)Largest decline over 10 years | -16.80% | -13.95% | -2.85% |
Current DrawdownCurrent decline from peak | -1.05% | -0.43% | -0.62% |
Average DrawdownAverage peak-to-trough decline | -3.43% | -0.89% | -2.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 0.41% | +0.53% |
Volatility
FIG.TO vs. ZCS.TO - Volatility Comparison
CI Investment Grade Bond ETF (FIG.TO) has a higher volatility of 1.26% compared to BMO Short Corporate Bond Index ETF (ZCS.TO) at 0.59%. This indicates that FIG.TO's price experiences larger fluctuations and is considered to be riskier than ZCS.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FIG.TO | ZCS.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.26% | 0.59% | +0.67% |
Volatility (6M)Calculated over the trailing 6-month period | 3.19% | 1.82% | +1.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.40% | 2.11% | +2.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.43% | 2.90% | +2.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.15% | 4.38% | +1.77% |
Dividends
FIG.TO vs. ZCS.TO - Dividend Comparison
FIG.TO's dividend yield for the trailing twelve months is around 4.08%, more than ZCS.TO's 3.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FIG.TO CI Investment Grade Bond ETF | 4.08% | 4.04% | 4.08% | 4.12% | 4.19% | 3.52% | 3.34% | 3.41% | 3.60% | 4.34% | 4.69% | 5.05% |
ZCS.TO BMO Short Corporate Bond Index ETF | 3.96% | 3.60% | 3.27% | 3.35% | 3.23% | 2.99% | 2.88% | 2.96% | 2.88% | 3.04% | 3.34% | 3.53% |
Frequently Asked Questions
FIG.TO and ZCS.TO have a correlation of 0.51, 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: CI and BMO.
Find the right allocation for FIG.TO and ZCS.TO
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