HBB.TO vs. ZDB.TO
HBB.TO (Global X Canadian Select Universe Bond Index Corporate Class ETF) and ZDB.TO (BMO Discount Bond) are both exchange-traded funds - HBB.TO is a Total Bond Market fund tracking the Solactive Canadian Select Universe Bond, while ZDB.TO is a Canadian Government Bonds fund tracking the FTSE Canada Universe Discount Bond Index. Both are passively managed. Over the past 10 years, HBB.TO returned 1.30%/yr vs 1.57%/yr for ZDB.TO. Their correlation of 0.82 suggests significant overlap in exposure. HBB.TO charges 0.09%/yr vs 0.10%/yr for ZDB.TO.
Performance
HBB.TO vs. ZDB.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with HBB.TO having a 1.48% return and ZDB.TO slightly higher at 1.53%. Over the past 10 years, HBB.TO has underperformed ZDB.TO with an annualized return of 1.30%, while ZDB.TO has yielded a comparatively higher 1.57% annualized return.
HBB.TO
- 1D
- -0.04%
- 1M
- 1.71%
- YTD
- 1.48%
- 6M
- 0.58%
- 1Y
- 2.70%
- 3Y*
- 3.63%
- 5Y*
- 0.33%
- 10Y*
- 1.30%
ZDB.TO
- 1D
- -0.13%
- 1M
- 1.48%
- YTD
- 1.53%
- 6M
- 0.70%
- 1Y
- 2.71%
- 3Y*
- 4.07%
- 5Y*
- 0.56%
- 10Y*
- 1.57%
HBB.TO vs. ZDB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HBB.TO Global X Canadian Select Universe Bond Index Corporate Class ETF | 1.48% | 1.84% | 3.96% | 5.76% | -11.94% | -2.35% | 8.33% | 5.81% | 1.19% | 1.98% |
ZDB.TO BMO Discount Bond | 1.53% | 2.03% | 4.26% | 6.69% | -11.99% | -2.77% | 9.50% | 6.74% | 1.33% | 2.00% |
Correlation
The correlation between HBB.TO and ZDB.TO is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since May 9, 2014 | 0.82 |
The correlation between HBB.TO and ZDB.TO shifts across timeframes, from 0.82 (all time) to 0.94 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
HBB.TO vs. ZDB.TO — Risk / Return Rank
HBB.TO
ZDB.TO
HBB.TO vs. ZDB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Canadian Select Universe Bond Index Corporate Class ETF (HBB.TO) and BMO Discount Bond (ZDB.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.
| HBB.TO | ZDB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.11 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.97 | 0.97 | 0.00 |
| Martin ratioReturn relative to average drawdown | 2.20 | 2.23 | -0.03 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HBB.TO | ZDB.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.61 | 0.63 | -0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.05 | 0.09 | -0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.18 | 0.25 | -0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.30 | 0.38 | -0.09 |
Drawdowns
HBB.TO vs. ZDB.TO - Drawdown Comparison
The maximum HBB.TO drawdown since its inception was -18.23%, roughly equal to the maximum ZDB.TO drawdown of -18.09%. Use the drawdown chart below to compare losses from any high point for HBB.TO and ZDB.TO.
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Drawdown Indicators
| HBB.TO | ZDB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.23% | -18.09% | -0.14% |
Max Drawdown (1Y)Largest decline over 1 year | -2.78% | -2.79% | +0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -5.56% | -5.07% | -0.49% |
Max Drawdown (5Y)Largest decline over 5 years | -16.19% | -16.25% | +0.06% |
Max Drawdown (10Y)Largest decline over 10 years | -18.23% | -18.09% | -0.14% |
Current DrawdownCurrent decline from peak | -2.97% | -1.45% | -1.52% |
Average DrawdownAverage peak-to-trough decline | -4.58% | -4.21% | -0.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.23% | 1.22% | +0.01% |
Volatility
HBB.TO vs. ZDB.TO - Volatility Comparison
Global X Canadian Select Universe Bond Index Corporate Class ETF (HBB.TO) and BMO Discount Bond (ZDB.TO) have volatilities of 1.58% and 1.55%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HBB.TO | ZDB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.58% | 1.55% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 3.43% | 3.32% | +0.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.44% | 4.34% | +0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.54% | 6.52% | +0.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.09% | 6.40% | +0.69% |
HBB.TO vs. ZDB.TO - Expense Ratio Comparison
HBB.TO has a 0.09% expense ratio, which is lower than ZDB.TO's 0.10% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
HBB.TO vs. ZDB.TO - Dividend Comparison
HBB.TO has not paid dividends to shareholders, while ZDB.TO's dividend yield for the trailing twelve months is around 2.00%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HBB.TO Global X Canadian Select Universe Bond Index Corporate Class ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZDB.TO BMO Discount Bond | 2.00% | 2.28% | 2.38% | 2.42% | 2.52% | 2.16% | 2.06% | 2.20% | 2.07% | 2.06% | 1.95% | 1.99% |
Frequently Asked Questions
With a correlation of 0.91, HBB.TO and ZDB.TO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, HBB.TO is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HBB.TO is cheaper with a 0.09% expense ratio, compared with 0.10% for ZDB.TO.
HBB.TO is categorized as Total Bond Market, while ZDB.TO is Canadian Government Bonds. HBB.TO tracks Solactive Canadian Select Universe Bond, while ZDB.TO tracks FTSE Canada Universe Discount Bond Index. They also come from different issuers: Global X and BMO. Their fees differ too: 0.09% for HBB.TO and 0.10% for ZDB.TO.
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