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HTB.TO vs. ZPS.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HTB.TO vs. ZPS.TO

Last updated Jul 16, 2026
Documentation

HTB.TO (Global X US 7-10 Year Treasury Bond Index Corporate Class ETF) and ZPS.TO (BMO Short Provincial Bond Index ETF) are both Government Bonds funds. Over the past 10 years, HTB.TO returned 1.13%/yr vs 1.72%/yr for ZPS.TO. At a 0.36 correlation, their price movements are largely independent.

Performance

HTB.TO vs. ZPS.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X US 7-10 Year Treasury Bond Index Corporate Class ETF (HTB.TO) and BMO Short Provincial Bond Index ETF (ZPS.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, HTB.TO achieves a 1.68% return, which is significantly higher than ZPS.TO's 1.06% return. Over the past 10 years, HTB.TO has underperformed ZPS.TO with an annualized return of 1.13%, while ZPS.TO has yielded a comparatively higher 1.72% annualized return.

HTB.TO

1D
0.08%
1M
0.03%
6M
0.05%
YTD
1.68%
1Y
6.05%
3Y*
4.68%
5Y*
0.54%
10Y*
1.13%

ZPS.TO

1D
0.16%
1M
0.13%
6M
0.74%
YTD
1.06%
1Y
3.12%
3Y*
4.45%
5Y*
1.67%
10Y*
1.72%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HTB.TO vs. ZPS.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
HTB.TO
Global X US 7-10 Year Treasury Bond Index Corporate Class ETF		1.68%2.71%8.07%0.76%-9.56%-3.43%7.87%2.75%9.52%-4.30%
ZPS.TO
BMO Short Provincial Bond Index ETF		1.06%3.52%5.14%4.18%-4.26%-1.47%5.25%2.82%1.45%0.11%

Correlation

The correlation between HTB.TO and ZPS.TO is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.37

Correlation (3Y)
Calculated over the trailing 3-year period

0.51

Correlation (5Y)
Calculated over the trailing 5-year period

0.44

Correlation (10Y)
Calculated over the trailing 10-year period

0.39

Correlation (All Time)
Calculated using the full available price history since Apr 8, 2015

0.36

The correlation between HTB.TO and ZPS.TO shifts across timeframes, from 0.36 (all time) to 0.51 (3 years), reflecting how their relationship changes across market environments.

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Global X US 7-10 Year Treasury Bond Index Corporate Class ETF

BMO Short Provincial Bond Index ETF

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ZPS.TO vs. XTLH.TOZPS.TO vs. FGO.TOZPS.TO vs. ZEQT.TOZPS.TO vs. ZFS.TOZPS.TO vs. ZMP.TOZPS.TO vs. ZPL.TOZPS.TO vs. BXF.TO

Return for Risk

HTB.TO vs. ZPS.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HTB.TO
HTB.TO Risk / Return Rank: 2929
Overall Rank
HTB.TO Sharpe Ratio Rank: 3333
Sharpe Ratio Rank
HTB.TO Sortino Ratio Rank: 3131
Sortino Ratio Rank
HTB.TO Omega Ratio Rank: 3131
Omega Ratio Rank
HTB.TO Calmar Ratio Rank: 2727
Calmar Ratio Rank
HTB.TO Martin Ratio Rank: 2323
Martin Ratio Rank
ZPS.TO
ZPS.TO Risk / Return Rank: 4848
Overall Rank
ZPS.TO Sharpe Ratio Rank: 4646
Sharpe Ratio Rank
ZPS.TO Sortino Ratio Rank: 4545
Sortino Ratio Rank
ZPS.TO Omega Ratio Rank: 4747
Omega Ratio Rank
ZPS.TO Calmar Ratio Rank: 5353
Calmar Ratio Rank
ZPS.TO Martin Ratio Rank: 4848
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.

HTB.TO vs. ZPS.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X US 7-10 Year Treasury Bond Index Corporate Class ETF (HTB.TO) and BMO Short Provincial Bond Index ETF (ZPS.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.

HTB.TOZPS.TODifference
Sharpe ratioReturn per unit of total volatility
1.00
1.36

-0.36

Sortino ratioReturn per unit of downside risk
1.46
1.92

-0.47

Omega ratioGain probability vs. loss probability

1.18

1.25

-0.07

Calmar ratioReturn relative to maximum drawdown

1.13

2.17

-1.04

Martin ratioReturn relative to average drawdown

2.34

6.66

-4.32

HTB.TO vs. ZPS.TO - Sharpe Ratio Comparison

The current HTB.TO Sharpe Ratio is 1.00, which is comparable to the ZPS.TO Sharpe Ratio of 1.36. The chart below compares the historical Sharpe Ratios of HTB.TO and ZPS.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

HTB.TO vs. ZPS.TO - Drawdown Comparison

The maximum HTB.TO drawdown since its inception was -26.11%, which is greater than ZPS.TO's maximum drawdown of -7.31%. Use the drawdown chart below to compare losses from any high point for HTB.TO and ZPS.TO.

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Drawdown Indicators

HTB.TOZPS.TODifference

Max Drawdown

Largest peak-to-trough decline

-26.11%

-7.31%

-18.80%

Max Drawdown (1Y)

Largest decline over 1 year

-5.39%

-1.44%

-3.95%

Max Drawdown (3Y)

Largest decline over 3 years

-7.11%

-1.44%

-5.67%

Max Drawdown (5Y)

Largest decline over 5 years

-15.89%

-7.15%

-8.74%

Max Drawdown (10Y)

Largest decline over 10 years

-26.11%

-7.31%

-18.80%

Current Drawdown

Current decline from peak

-11.91%

-0.24%

-11.67%

Average Drawdown

Average peak-to-trough decline

-12.51%

-1.05%

-11.46%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.59%

0.47%

+2.12%

Volatility

HTB.TO vs. ZPS.TO - Volatility Comparison

Global X US 7-10 Year Treasury Bond Index Corporate Class ETF (HTB.TO) has a higher volatility of 2.00% compared to BMO Short Provincial Bond Index ETF (ZPS.TO) at 0.69%. This indicates that HTB.TO's price experiences larger fluctuations and is considered to be riskier than ZPS.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HTB.TOZPS.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.00%

0.69%

+1.31%

Volatility (6M)

Calculated over the trailing 6-month period

4.50%

1.79%

+2.71%

Volatility (1Y)

Calculated over the trailing 1-year period

6.08%

2.31%

+3.77%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

9.35%

2.96%

+6.39%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

9.38%

2.55%

+6.83%

Dividends

HTB.TO vs. ZPS.TO - Dividend Comparison

HTB.TO has not paid dividends to shareholders, while ZPS.TO's dividend yield for the trailing twelve months is around 2.67%.

PositionTTM20252024202320222021202020192018201720162015
HTB.TO
Global X US 7-10 Year Treasury 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%
ZPS.TO
BMO Short Provincial Bond Index ETF		2.67%2.90%2.92%2.98%3.13%2.98%3.02%3.28%3.10%3.16%3.37%3.04%

Frequently Asked Questions

HTB.TO and ZPS.TO have a correlation of 0.37, 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: Global X and BMO.

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