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FLCI.TO vs. ZCB.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FLCI.TO vs. ZCB.TO

Last updated Jun 17, 2026

FLCI.TO (Franklin Canadian Corporate Bond Fund ETF) and ZCB.TO (BMO Corporate Bond Index ETF) are both Corporate Bonds funds. FLCI.TO is actively managed, while ZCB.TO is passively managed. Over the past 5 years, FLCI.TO returned 2.62%/yr vs 2.13%/yr for ZCB.TO. At a 0.43 correlation, their price movements are largely independent. FLCI.TO charges 0.39%/yr vs 0.17%/yr for ZCB.TO.

Performance

FLCI.TO vs. ZCB.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Franklin Canadian Corporate Bond Fund ETF (FLCI.TO) and BMO Corporate Bond Index ETF (ZCB.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both investments are quite close, with FLCI.TO having a 2.06% return and ZCB.TO slightly higher at 2.15%.

FLCI.TO

1D
0.05%
1M
1.92%
YTD
2.06%
6M
2.41%
1Y
6.04%
3Y*
7.01%
5Y*
2.62%
10Y*
—

ZCB.TO

1D
0.08%
1M
2.01%
YTD
2.15%
6M
2.19%
1Y
5.15%
3Y*
6.18%
5Y*
2.13%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

FLCI.TO vs. ZCB.TO - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
FLCI.TO
Franklin Canadian Corporate Bond Fund ETF		2.06%4.88%8.03%8.31%-10.13%-1.36%8.04%8.29%0.67%
ZCB.TO
BMO Corporate Bond Index ETF		2.15%3.81%6.60%8.73%-10.20%-2.22%8.33%8.03%0.90%

Correlation

The correlation between FLCI.TO and ZCB.TO is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.50

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

0.43

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

0.48

Correlation (All Time)
Calculated using the full available price history since Mar 16, 2018

0.43

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Franklin Canadian Corporate Bond Fund ETF

BMO Corporate Bond Index ETF

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FLCI.TO vs. XCBG.TOFLCI.TO vs. ZBBB.TOFLCI.TO vs. DCBC.TOFLCI.TO vs. FCSB.NEOFLCI.TO vs. VCB.TOFLCI.TO vs. XCB.TOFLCI.TO vs. VAB.TO
Often compared with ZCB.TO:
ZCB.TO vs. ZCS.TOZCB.TO vs. ZAG.TOZCB.TO vs. XCB.TOZCB.TO vs. ZUAG.TOZCB.TO vs. XSH.TOZCB.TO vs. ZBBB.TOZCB.TO vs. DCBC.TO

Return for Risk

FLCI.TO vs. ZCB.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FLCI.TO
FLCI.TO Risk / Return Rank: 4949
Overall Rank
FLCI.TO Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
FLCI.TO Sortino Ratio Rank: 4848
Sortino Ratio Rank
FLCI.TO Omega Ratio Rank: 4646
Omega Ratio Rank
FLCI.TO Calmar Ratio Rank: 5757
Calmar Ratio Rank
FLCI.TO Martin Ratio Rank: 4747
Martin Ratio Rank
ZCB.TO
ZCB.TO Risk / Return Rank: 4040
Overall Rank
ZCB.TO Sharpe Ratio Rank: 4040
Sharpe Ratio Rank
ZCB.TO Sortino Ratio Rank: 3939
Sortino Ratio Rank
ZCB.TO Omega Ratio Rank: 4242
Omega Ratio Rank
ZCB.TO Calmar Ratio Rank: 4242
Calmar Ratio Rank
ZCB.TO Martin Ratio Rank: 3939
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.

FLCI.TO vs. ZCB.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Canadian Corporate Bond Fund ETF (FLCI.TO) and BMO Corporate Bond Index ETF (ZCB.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.

FLCI.TOZCB.TODifference
Sharpe ratioReturn per unit of total volatility
1.54
1.39

+0.16

Sortino ratioReturn per unit of downside risk
2.26
1.94

+0.32

Omega ratioGain probability vs. loss probability

1.28

1.27

+0.01

Calmar ratioReturn relative to maximum drawdown

2.67

2.03

+0.65

Martin ratioReturn relative to average drawdown

7.43

6.01

+1.42

FLCI.TO vs. ZCB.TO - Sharpe Ratio Comparison

The current FLCI.TO Sharpe Ratio is 1.54, which is comparable to the ZCB.TO Sharpe Ratio of 1.39. The chart below compares the historical Sharpe Ratios of FLCI.TO and ZCB.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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Drawdowns

FLCI.TO vs. ZCB.TO - Drawdown Comparison

The maximum FLCI.TO drawdown since its inception was -17.51%, which is greater than ZCB.TO's maximum drawdown of -15.70%. Use the drawdown chart below to compare losses from any high point for FLCI.TO and ZCB.TO.

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Drawdown Indicators

FLCI.TOZCB.TODifference

Max Drawdown

Largest peak-to-trough decline

-17.51%

-15.70%

-1.81%

Max Drawdown (1Y)

Largest decline over 1 year

-2.27%

-2.55%

+0.28%

Max Drawdown (3Y)

Largest decline over 3 years

-3.31%

-3.27%

-0.04%

Max Drawdown (5Y)

Largest decline over 5 years

-14.63%

-14.20%

-0.43%

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-3.30%

-3.69%

+0.39%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.81%

0.86%

-0.05%

Volatility

FLCI.TO vs. ZCB.TO - Volatility Comparison

Franklin Canadian Corporate Bond Fund ETF (FLCI.TO) has a higher volatility of 1.23% compared to BMO Corporate Bond Index ETF (ZCB.TO) at 1.04%. This indicates that FLCI.TO's price experiences larger fluctuations and is considered to be riskier than ZCB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FLCI.TOZCB.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

1.23%

1.04%

+0.19%

Volatility (6M)

Calculated over the trailing 6-month period

2.95%

2.90%

+0.05%

Volatility (1Y)

Calculated over the trailing 1-year period

3.93%

3.73%

+0.20%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

5.64%

5.20%

+0.44%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.47%

5.42%

+1.05%

FLCI.TO vs. ZCB.TO - Expense Ratio Comparison

FLCI.TO has a 0.39% expense ratio, which is higher than ZCB.TO's 0.17% expense ratio.

Dividends

FLCI.TO vs. ZCB.TO - Dividend Comparison

FLCI.TO's dividend yield for the trailing twelve months is around 4.41%, more than ZCB.TO's 4.02% yield.

PositionTTM202520242023202220212020201920182017
FLCI.TO
Franklin Canadian Corporate Bond Fund ETF		4.41%4.26%4.41%4.09%4.95%3.35%3.25%3.68%3.87%0.84%
ZCB.TO
BMO Corporate Bond Index ETF		4.02%4.00%3.84%3.89%3.62%3.13%2.97%3.12%3.27%0.00%

Frequently Asked Questions

FLCI.TO and ZCB.TO have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, ZCB.TO is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.

ZCB.TO is cheaper with a 0.17% expense ratio, compared with 0.39% for FLCI.TO.

They also come from different issuers: Franklin and BMO. Their fees differ too: 0.39% for FLCI.TO and 0.17% for ZCB.TO.

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