FLCI.TO vs. ZIC.TO
FLCI.TO (Franklin Canadian Corporate Bond Fund ETF) and ZIC.TO (BMO Mid-Term US Investment Grade Corporate Bond Index ETF) are both Corporate Bonds funds. FLCI.TO is actively managed, while ZIC.TO is passively managed. Over the past 5 years, FLCI.TO returned 2.62%/yr vs 3.58%/yr for ZIC.TO. At a 0.29 correlation, their price movements are largely independent. FLCI.TO charges 0.39%/yr vs 0.25%/yr for ZIC.TO.
Performance
FLCI.TO vs. ZIC.TO - Performance Comparison
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Returns By Period
In the year-to-date period, FLCI.TO achieves a 2.06% return, which is significantly lower than ZIC.TO's 2.27% return.
FLCI.TO
- 1D
- 0.05%
- 1M
- 1.92%
- YTD
- 2.06%
- 6M
- 2.41%
- 1Y
- 6.04%
- 3Y*
- 7.01%
- 5Y*
- 2.62%
- 10Y*
- —
ZIC.TO
- 1D
- 0.27%
- 1M
- 2.86%
- YTD
- 2.27%
- 6M
- 2.49%
- 1Y
- 9.09%
- 3Y*
- 8.06%
- 5Y*
- 3.58%
- 10Y*
- 3.65%
FLCI.TO vs. ZIC.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FLCI.TO Franklin Canadian Corporate Bond Fund ETF | 2.06% | 4.88% | 8.03% | 8.31% | -10.13% | -1.36% | 8.04% | 8.29% | 0.09% | -0.28% |
ZIC.TO BMO Mid-Term US Investment Grade Corporate Bond Index ETF | 2.27% | 4.46% | 11.87% | 6.34% | -8.92% | -1.35% | 6.52% | 9.04% | 6.41% | -0.07% |
Correlation
The correlation between FLCI.TO and ZIC.TO is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Jul 18, 2017 | 0.29 |
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Return for Risk
FLCI.TO vs. ZIC.TO — Risk / Return Rank
FLCI.TO
ZIC.TO
FLCI.TO vs. ZIC.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 Mid-Term US Investment Grade Corporate Bond Index ETF (ZIC.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.TO | ZIC.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.13 | ||
| Sortino ratioReturn per unit of downside risk | -0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.31 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.67 | 2.25 | +0.43 |
| Martin ratioReturn relative to average drawdown | 7.43 | 4.89 | +2.54 |
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Drawdowns
FLCI.TO vs. ZIC.TO - Drawdown Comparison
The maximum FLCI.TO drawdown since its inception was -17.51%, smaller than the maximum ZIC.TO drawdown of -19.48%. Use the drawdown chart below to compare losses from any high point for FLCI.TO and ZIC.TO.
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Drawdown Indicators
| FLCI.TO | ZIC.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.51% | -19.48% | +1.97% |
Max Drawdown (1Y)Largest decline over 1 year | -2.27% | -4.06% | +1.79% |
Max Drawdown (3Y)Largest decline over 3 years | -3.31% | -6.96% | +3.65% |
Max Drawdown (5Y)Largest decline over 5 years | -14.63% | -15.65% | +1.02% |
Max Drawdown (10Y)Largest decline over 10 years | — | -19.48% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.31% | +0.31% |
Average DrawdownAverage peak-to-trough decline | -3.30% | -5.12% | +1.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.81% | 1.86% | -1.05% |
Volatility
FLCI.TO vs. ZIC.TO - Volatility Comparison
The current volatility for Franklin Canadian Corporate Bond Fund ETF (FLCI.TO) is 1.23%, while BMO Mid-Term US Investment Grade Corporate Bond Index ETF (ZIC.TO) has a volatility of 1.62%. This indicates that FLCI.TO experiences smaller price fluctuations and is considered to be less risky than ZIC.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.TO | ZIC.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.23% | 1.62% | -0.39% |
Volatility (6M)Calculated over the trailing 6-month period | 2.95% | 4.18% | -1.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.93% | 5.47% | -1.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.64% | 8.00% | -2.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.47% | 8.91% | -2.44% |
FLCI.TO vs. ZIC.TO - Expense Ratio Comparison
FLCI.TO has a 0.39% expense ratio, which is higher than ZIC.TO's 0.25% expense ratio.
Dividends
FLCI.TO vs. ZIC.TO - Dividend Comparison
FLCI.TO's dividend yield for the trailing twelve months is around 4.41%, more than ZIC.TO's 4.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% |
ZIC.TO BMO Mid-Term US Investment Grade Corporate Bond Index ETF | 4.27% | 4.03% | 3.80% | 3.85% | 3.94% | 3.53% | 3.46% | 3.57% | 3.46% | 3.33% | 3.29% | 3.12% |
Frequently Asked Questions
FLCI.TO and ZIC.TO have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZIC.TO is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZIC.TO is cheaper with a 0.25% 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 0.25% for ZIC.TO.
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