FSB.TO vs. ZSDB.TO
FSB.TO (CI Enhanced Short Duration Bond Fund) and ZSDB.TO (BMO Short-Term Discount Bond ETF) are both Short-Term Bond funds. Both are actively managed. Over the past year, FSB.TO returned 2.77% vs 0.18% for ZSDB.TO. At a 0.31 correlation, their price movements are largely independent. FSB.TO charges 0.73%/yr vs 0.09%/yr for ZSDB.TO.
Performance
FSB.TO vs. ZSDB.TO - Performance Comparison
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Returns By Period
In the year-to-date period, FSB.TO achieves a 1.28% return, which is significantly higher than ZSDB.TO's 0.75% return.
FSB.TO
- 1D
- 0.00%
- 1M
- -0.10%
- 6M
- 0.86%
- YTD
- 1.28%
- 1Y
- 2.77%
- 3Y*
- 4.21%
- 5Y*
- 2.59%
- 10Y*
- —
- ALL TIME*
- 2.54%
ZSDB.TO
- 1D
- 0.13%
- 1M
- -0.31%
- 6M
- 0.65%
- YTD
- 0.75%
- 1Y
- 0.18%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.24%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$46.58K | CA$37.38K | CA$75.82K | |
| CA$95.38K | CA$123.97K | CA$192.88K |
FSB.TO vs. ZSDB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FSB.TO CI Enhanced Short Duration Bond Fund | 1.28% | 3.84% | 4.40% | 0.31% |
ZSDB.TO BMO Short-Term Discount Bond ETF | 0.75% | 1.23% | 6.02% | 0.38% |
Correlation
The correlation between FSB.TO and ZSDB.TO is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Dec 28, 2023 | 0.31 |
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Return for Risk
FSB.TO vs. ZSDB.TO — Risk / Return Rank
FSB.TO
ZSDB.TO
FSB.TO vs. ZSDB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CI Enhanced Short Duration Bond Fund (FSB.TO) and BMO Short-Term Discount Bond ETF (ZSDB.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.
| FSB.TO | ZSDB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.14 | ||
| Sortino ratioReturn per unit of downside risk | +1.71 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.02 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 3.44 | 0.06 | +3.39 |
| Martin ratioReturn relative to average drawdown | 13.37 | 0.10 | +13.27 |
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Drawdowns
FSB.TO vs. ZSDB.TO - Drawdown Comparison
The maximum FSB.TO drawdown since its inception was -5.94%, which is greater than ZSDB.TO's maximum drawdown of -3.20%. Use the drawdown chart below to compare losses from any high point for FSB.TO and ZSDB.TO.
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Drawdown Indicators
| FSB.TO | ZSDB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.94% | -3.20% | -2.74% |
Max Drawdown (1Y)Largest decline over 1 year | -0.81% | -3.20% | +2.39% |
Max Drawdown (3Y)Largest decline over 3 years | -1.24% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -3.99% | — | — |
Current DrawdownCurrent decline from peak | -0.31% | -1.95% | +1.64% |
Average DrawdownAverage peak-to-trough decline | -0.47% | -0.67% | +0.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.21% | 1.77% | -1.56% |
Volatility
FSB.TO vs. ZSDB.TO - Volatility Comparison
CI Enhanced Short Duration Bond Fund (FSB.TO) has a higher volatility of 0.63% compared to BMO Short-Term Discount Bond ETF (ZSDB.TO) at 0.55%. This indicates that FSB.TO's price experiences larger fluctuations and is considered to be riskier than ZSDB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSB.TO | ZSDB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.63% | 0.55% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 1.71% | 1.55% | +0.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.34% | 3.29% | -0.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.63% | 2.77% | -0.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.61% | 2.77% | -0.16% |
FSB.TO vs. ZSDB.TO - Expense Ratio Comparison
FSB.TO has a 0.73% expense ratio, which is higher than ZSDB.TO's 0.09% expense ratio.
Dividends
FSB.TO vs. ZSDB.TO - Dividend Comparison
FSB.TO's dividend yield for the trailing twelve months is around 4.02%, more than ZSDB.TO's 1.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FSB.TO CI Enhanced Short Duration Bond Fund | 4.02% | 3.99% | 3.98% | 3.99% | 2.25% | 1.87% | 2.68% | 2.42% | 2.44% | 1.20% |
ZSDB.TO BMO Short-Term Discount Bond ETF | 1.35% | 1.29% | 1.33% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FSB.TO and ZSDB.TO have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZSDB.TO is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZSDB.TO is cheaper with a 0.09% expense ratio, compared with 0.73% for FSB.TO.
They also come from different issuers: CI Global Asset Management and BMO. Their fees differ too: 0.73% for FSB.TO and 0.09% for ZSDB.TO.
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