HPYM.TO vs. ZPL.TO
HPYM.TO (Harvest Premium Yield 7-10 Year Treasury ETF - Class A Units) and ZPL.TO (BMO Long Provincial Bond Index ETF) are both Government Bonds funds. Over the past year, HPYM.TO returned 1.54% vs 3.20% for ZPL.TO. A 0.70 correlation means they provide meaningful diversification when combined.
Performance
HPYM.TO vs. ZPL.TO - Performance Comparison
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Returns By Period
In the year-to-date period, HPYM.TO achieves a -0.87% return, which is significantly lower than ZPL.TO's 3.53% return.
HPYM.TO
- 1D
- -0.39%
- 1M
- 0.19%
- YTD
- -0.87%
- 6M
- -1.15%
- 1Y
- 1.54%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZPL.TO
- 1D
- 0.08%
- 1M
- 0.46%
- YTD
- 3.53%
- 6M
- 3.10%
- 1Y
- 3.20%
- 3Y*
- 2.13%
- 5Y*
- -2.27%
- 10Y*
- 0.48%
HPYM.TO vs. ZPL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
HPYM.TO Harvest Premium Yield 7-10 Year Treasury ETF - Class A Units | -0.87% | 6.72% | -0.50% |
ZPL.TO BMO Long Provincial Bond Index ETF | 3.53% | -1.77% | 5.39% |
Correlation
The correlation between HPYM.TO and ZPL.TO is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Jan 17, 2024 | 0.70 |
The correlation between HPYM.TO and ZPL.TO has been stable across timeframes, ranging from 0.64 to 0.70 - a consistent structural relationship.
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Return for Risk
HPYM.TO vs. ZPL.TO — Risk / Return Rank
HPYM.TO
ZPL.TO
HPYM.TO vs. ZPL.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Harvest Premium Yield 7-10 Year Treasury ETF - Class A Units (HPYM.TO) and BMO Long Provincial Bond Index ETF (ZPL.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.
| HPYM.TO | ZPL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.07 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.40 | 0.65 | -0.26 |
| Martin ratioReturn relative to average drawdown | 1.01 | 1.37 | -0.36 |
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Drawdowns
HPYM.TO vs. ZPL.TO - Drawdown Comparison
The maximum HPYM.TO drawdown since its inception was -6.19%, smaller than the maximum ZPL.TO drawdown of -33.96%. Use the drawdown chart below to compare losses from any high point for HPYM.TO and ZPL.TO.
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Drawdown Indicators
| HPYM.TO | ZPL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.19% | -33.96% | +27.77% |
Max Drawdown (1Y)Largest decline over 1 year | -3.87% | -4.91% | +1.04% |
Max Drawdown (3Y)Largest decline over 3 years | — | -12.26% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -28.61% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.96% | — |
Current DrawdownCurrent decline from peak | -2.35% | -19.82% | +17.47% |
Average DrawdownAverage peak-to-trough decline | -1.95% | -11.14% | +9.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.52% | 2.48% | -0.96% |
Volatility
HPYM.TO vs. ZPL.TO - Volatility Comparison
The current volatility for Harvest Premium Yield 7-10 Year Treasury ETF - Class A Units (HPYM.TO) is 1.72%, while BMO Long Provincial Bond Index ETF (ZPL.TO) has a volatility of 2.44%. This indicates that HPYM.TO experiences smaller price fluctuations and is considered to be less risky than ZPL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HPYM.TO | ZPL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.72% | 2.44% | -0.72% |
Volatility (6M)Calculated over the trailing 6-month period | 3.60% | 6.57% | -2.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.67% | 8.63% | -3.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.62% | 12.98% | -7.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.62% | 11.43% | -5.81% |
Dividends
HPYM.TO vs. ZPL.TO - Dividend Comparison
HPYM.TO's dividend yield for the trailing twelve months is around 9.31%, more than ZPL.TO's 3.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HPYM.TO Harvest Premium Yield 7-10 Year Treasury ETF - Class A Units | 9.31% | 9.01% | 8.07% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZPL.TO BMO Long Provincial Bond Index ETF | 3.53% | 3.84% | 3.88% | 4.16% | 4.31% | 3.22% | 2.97% | 3.20% | 3.44% | 3.28% | 3.59% | 3.60% |
Frequently Asked Questions
HPYM.TO and ZPL.TO have a correlation of 0.64, 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: Harvest and BMO.
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