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HHIC.TO vs. ZCN.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HHIC.TO vs. ZCN.TO

Last updated Jun 16, 2026

HHIC.TO (Harvest Canadian High Income Shares ETF) and ZCN.TO (BMO S&P/TSX Capped Composite Index ETF) are both Canada Equities funds. HHIC.TO is actively managed, while ZCN.TO is passively managed. Their correlation of 0.86 suggests significant overlap in exposure. HHIC.TO charges 0.40%/yr vs 0.06%/yr for ZCN.TO.

Performance

HHIC.TO vs. ZCN.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Harvest Canadian High Income Shares ETF (HHIC.TO) and BMO S&P/TSX Capped Composite Index ETF (ZCN.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, HHIC.TO achieves a 13.14% return, which is significantly higher than ZCN.TO's 12.24% return.

HHIC.TO

1D
0.99%
1M
3.75%
YTD
13.14%
6M
14.74%
1Y
—
3Y*
—
5Y*
—
10Y*
—

ZCN.TO

1D
0.94%
1M
4.41%
YTD
12.24%
6M
13.20%
1Y
36.15%
3Y*
24.22%
5Y*
14.97%
10Y*
13.02%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HHIC.TO vs. ZCN.TO - Yearly Performance Comparison

2026 (YTD)2025
HHIC.TO
Harvest Canadian High Income Shares ETF		13.14%16.60%
ZCN.TO
BMO S&P/TSX Capped Composite Index ETF		12.24%14.78%

Correlation

The correlation between HHIC.TO and ZCN.TO is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (All Time)
Calculated using the full available price history since Aug 21, 2025

0.86

HHIC.TO vs. ZCN.TO - Sectors Allocation Comparison

Sectors
HHIC.TO
ZCN.TO

Energy

34.8%
18.3%

Financial Services

32.7%
33.0%

Basic Materials

11.3%
17.5%

Technology

11.0%
7.4%

Communication Services

10.2%
1.8%

Consumer Cyclical

-

3.8%

Consumer Defensive

-

2.9%

Healthcare

-

0.1%

Industrials

-

10.3%

Real Estate

-

1.6%

Utilities

-

3.2%

Energy

HHIC.TO
34.8%
ZCN.TO
18.3%

Financial Services

HHIC.TO
32.7%
ZCN.TO
33.0%

Basic Materials

HHIC.TO
11.3%
ZCN.TO
17.5%

Technology

HHIC.TO
11.0%
ZCN.TO
7.4%

Communication Services

HHIC.TO
10.2%
ZCN.TO
1.8%

Consumer Cyclical

HHIC.TO

-

ZCN.TO
3.8%

Consumer Defensive

HHIC.TO

-

ZCN.TO
2.9%

Healthcare

HHIC.TO

-

ZCN.TO
0.1%

Industrials

HHIC.TO

-

ZCN.TO
10.3%

Real Estate

HHIC.TO

-

ZCN.TO
1.6%

Utilities

HHIC.TO

-

ZCN.TO
3.2%

Compare stocks, funds, or ETFs

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

Harvest Canadian High Income Shares ETF

BMO S&P/TSX Capped Composite Index ETF

Often compared with HHIC.TO:
HHIC.TO vs. HHIS.TOHHIC.TO vs. HDIV.TOHHIC.TO vs. ECHI.TOHHIC.TO vs. VDY.TOHHIC.TO vs. CANY.TOHHIC.TO vs. XIU.TOHHIC.TO vs. HDIF.TO
Often compared with ZCN.TO:
ZCN.TO vs. XIC.TOZCN.TO vs. XIU.TOZCN.TO vs. ZSP.TOZCN.TO vs. VDY.TOZCN.TO vs. VCE.TOZCN.TO vs. XEQT.TOZCN.TO vs. VFV.TO

Return for Risk

HHIC.TO vs. ZCN.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HHIC.TO

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

ZCN.TO
ZCN.TO Risk / Return Rank: 8888
Overall Rank
ZCN.TO Sharpe Ratio Rank: 9191
Sharpe Ratio Rank
ZCN.TO Sortino Ratio Rank: 8888
Sortino Ratio Rank
ZCN.TO Omega Ratio Rank: 8989
Omega Ratio Rank
ZCN.TO Calmar Ratio Rank: 8282
Calmar Ratio Rank
ZCN.TO Martin Ratio Rank: 8989
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.

HHIC.TO vs. ZCN.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harvest Canadian High Income Shares ETF (HHIC.TO) and BMO S&P/TSX Capped Composite Index ETF (ZCN.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.

HHIC.TOZCN.TODifference
Sharpe ratioReturn per unit of total volatility

—

2.78

—

Sortino ratioReturn per unit of downside risk

—

3.56

—

Omega ratioGain probability vs. loss probability

—

1.50

—

Calmar ratioReturn relative to maximum drawdown

—

3.90

—

Martin ratioReturn relative to average drawdown

—

17.94

—

HHIC.TO vs. ZCN.TO - Sharpe Ratio Comparison

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Drawdowns

HHIC.TO vs. ZCN.TO - Drawdown Comparison

The maximum HHIC.TO drawdown since its inception was -7.30%, smaller than the maximum ZCN.TO drawdown of -37.18%. Use the drawdown chart below to compare losses from any high point for HHIC.TO and ZCN.TO.

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Drawdown Indicators

HHIC.TOZCN.TODifference

Max Drawdown

Largest peak-to-trough decline

-7.30%

-37.18%

+29.88%

Max Drawdown (1Y)

Largest decline over 1 year

—

-9.30%

—

Max Drawdown (3Y)

Largest decline over 3 years

—

-12.25%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-16.25%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-37.18%

—

Current Drawdown

Current decline from peak

-1.38%

0.00%

-1.38%

Average Drawdown

Average peak-to-trough decline

-1.52%

-4.73%

+3.21%

Ulcer Index

Depth and duration of drawdowns from previous peaks

—

2.02%

—

Volatility

HHIC.TO vs. ZCN.TO - Volatility Comparison

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Volatility by Period

HHIC.TOZCN.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

—

4.58%

—

Volatility (6M)

Calculated over the trailing 6-month period

—

10.73%

—

Volatility (1Y)

Calculated over the trailing 1-year period

16.91%

13.09%

+3.82%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.91%

13.18%

+3.73%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.91%

15.01%

+1.90%

HHIC.TO vs. ZCN.TO - Expense Ratio Comparison

HHIC.TO has a 0.40% expense ratio, which is higher than ZCN.TO's 0.06% expense ratio.

Dividends

HHIC.TO vs. ZCN.TO - Dividend Comparison

HHIC.TO's dividend yield for the trailing twelve months is around 10.95%, more than ZCN.TO's 2.00% yield.

PositionTTM20252024202320222021202020192018201720162015
HHIC.TO
Harvest Canadian High Income Shares ETF		10.95%4.77%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
ZCN.TO
BMO S&P/TSX Capped Composite Index ETF		2.00%2.22%2.78%3.29%3.27%2.74%3.24%3.13%3.16%2.75%2.86%3.36%

Frequently Asked Questions

HHIC.TO and ZCN.TO have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, ZCN.TO is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.

ZCN.TO is cheaper with a 0.06% expense ratio, compared with 0.40% for HHIC.TO.

They also come from different issuers: Harvest and BMO. Their fees differ too: 0.40% for HHIC.TO and 0.06% for ZCN.TO.

Portfolio Optimizer

Find the right allocation for HHIC.TO and ZCN.TO

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