FLCI.TO vs. ZMU.TO
FLCI.TO (Franklin Canadian Corporate Bond Fund ETF) and ZMU.TO (BMO Mid-Term US IG Corporate Bond Hedged to CAD Index ETF) are both Corporate Bonds funds. Over the past 5 years, FLCI.TO returned 2.15%/yr vs -0.42%/yr for ZMU.TO. At a 0.30 correlation, their price movements are largely independent.
Performance
FLCI.TO vs. ZMU.TO - Performance Comparison
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Returns By Period
In the year-to-date period, FLCI.TO achieves a 1.22% return, which is significantly higher than ZMU.TO's -0.96% return.
FLCI.TO
- 1D
- -0.39%
- 1M
- -0.60%
- 6M
- 0.62%
- YTD
- 1.22%
- 1Y
- 5.04%
- 3Y*
- 6.62%
- 5Y*
- 2.15%
- 10Y*
- —
ZMU.TO
- 1D
- 0.08%
- 1M
- -0.18%
- 6M
- -0.89%
- YTD
- -0.96%
- 1Y
- 2.51%
- 3Y*
- 3.99%
- 5Y*
- -0.42%
- 10Y*
- 1.66%
FLCI.TO vs. ZMU.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FLCI.TO Franklin Canadian Corporate Bond Fund ETF | 1.22% | 4.88% | 8.03% | 8.31% | -10.13% | -1.62% | 7.74% | 8.29% | 0.09% | -0.28% |
ZMU.TO BMO Mid-Term US IG Corporate Bond Hedged to CAD Index ETF | -0.96% | 7.47% | 1.42% | 7.89% | -14.71% | -1.75% | 8.27% | 12.98% | -2.77% | 0.70% |
Correlation
The correlation between FLCI.TO and ZMU.TO is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Jul 18, 2017 | 0.30 |
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Return for Risk
FLCI.TO vs. ZMU.TO — Risk / Return Rank
FLCI.TO
ZMU.TO
FLCI.TO vs. ZMU.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 IG Corporate Bond Hedged to CAD Index ETF (ZMU.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 | ZMU.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.70 | ||
| Sortino ratioReturn per unit of downside risk | +1.02 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.10 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.23 | 0.81 | +1.42 |
| Martin ratioReturn relative to average drawdown | 6.32 | 1.83 | +4.49 |
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Drawdowns
FLCI.TO vs. ZMU.TO - Drawdown Comparison
The maximum FLCI.TO drawdown since its inception was -17.51%, smaller than the maximum ZMU.TO drawdown of -21.30%. Use the drawdown chart below to compare losses from any high point for FLCI.TO and ZMU.TO.
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Drawdown Indicators
| FLCI.TO | ZMU.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.51% | -21.30% | +3.79% |
Max Drawdown (1Y)Largest decline over 1 year | -2.27% | -3.11% | +0.84% |
Max Drawdown (3Y)Largest decline over 3 years | -3.31% | -5.90% | +2.59% |
Max Drawdown (5Y)Largest decline over 5 years | -14.63% | -21.30% | +6.67% |
Max Drawdown (10Y)Largest decline over 10 years | — | -21.30% | — |
Current DrawdownCurrent decline from peak | -1.16% | -2.79% | +1.63% |
Average DrawdownAverage peak-to-trough decline | -3.29% | -4.53% | +1.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.80% | 1.37% | -0.57% |
Volatility
FLCI.TO vs. ZMU.TO - Volatility Comparison
Franklin Canadian Corporate Bond Fund ETF (FLCI.TO) has a higher volatility of 1.77% compared to BMO Mid-Term US IG Corporate Bond Hedged to CAD Index ETF (ZMU.TO) at 1.45%. This indicates that FLCI.TO's price experiences larger fluctuations and is considered to be riskier than ZMU.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 | ZMU.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.77% | 1.45% | +0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 3.24% | 3.51% | -0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.10% | 4.73% | -0.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.67% | 6.90% | -1.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.47% | 7.88% | -1.41% |
Dividends
FLCI.TO vs. ZMU.TO - Dividend Comparison
FLCI.TO's dividend yield for the trailing twelve months is around 4.47%, which matches ZMU.TO's 4.51% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLCI.TO Franklin Canadian Corporate Bond Fund ETF | 4.47% | 4.26% | 4.41% | 4.09% | 4.95% | 3.07% | 2.99% | 3.68% | 3.87% | 0.84% | 0.00% | 0.00% |
ZMU.TO BMO Mid-Term US IG Corporate Bond Hedged to CAD Index ETF | 4.51% | 4.10% | 4.15% | 4.22% | 4.35% | 3.56% | 3.51% | 3.66% | 3.70% | 3.28% | 3.37% | 3.53% |
Frequently Asked Questions
FLCI.TO and ZMU.TO have a correlation of 0.38, 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: Franklin and BMO.
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