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HYBR.TO vs. ZHP.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HYBR.TO vs. ZHP.TO

Last updated Jul 18, 2026
Documentation

HYBR.TO (Global X Active Hybrid Bond and Preferred Share ETF) and ZHP.TO (BMO US Preferred Share Hedged to CAD Index ETF) are both Preferred Stock/Convertible Bonds funds. Over the past 5 years, HYBR.TO returned 8.56%/yr vs -2.44%/yr for ZHP.TO. At a 0.06 correlation, their price movements are largely independent.

Performance

HYBR.TO vs. ZHP.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Active Hybrid Bond and Preferred Share ETF (HYBR.TO) and BMO US Preferred Share Hedged to CAD Index ETF (ZHP.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, HYBR.TO achieves a 6.80% return, which is significantly higher than ZHP.TO's -0.81% return.

HYBR.TO

1D
0.27%
1M
1.21%
6M
6.21%
YTD
6.80%
1Y
14.89%
3Y*
19.65%
5Y*
8.56%
10Y*
8.53%

ZHP.TO

1D
-0.37%
1M
-0.51%
6M
-2.73%
YTD
-0.81%
1Y
1.10%
3Y*
4.46%
5Y*
-2.44%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

HYBR.TO vs. ZHP.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
HYBR.TO
Global X Active Hybrid Bond and Preferred Share ETF		6.80%17.73%27.83%6.98%-15.95%26.17%5.51%0.63%-10.44%10.79%
ZHP.TO
BMO US Preferred Share Hedged to CAD Index ETF		-0.81%-1.34%7.03%4.43%-19.49%4.62%7.83%13.82%-5.84%4.23%

Correlation

The correlation between HYBR.TO and ZHP.TO is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

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

0.03

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

0.00

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

0.04

Correlation (All Time)
Calculated using the full available price history since Feb 16, 2017

0.06

Compare stocks, funds, or ETFs

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Global X Active Hybrid Bond and Preferred Share ETF

BMO US Preferred Share Hedged to CAD Index ETF

Often compared with HYBR.TO:
HYBR.TO vs. XPF.TOHYBR.TO vs. DXP.TOHYBR.TO vs. SPLT.TOHYBR.TO vs. CPD.TOHYBR.TO vs. HLPR.TOHYBR.TO vs. HPR.TOHYBR.TO vs. TPRF.TO
Often compared with ZHP.TO:
ZHP.TO vs. FPR.TOZHP.TO vs. ZPR.TOZHP.TO vs. DXP.TOZHP.TO vs. ZEQT.TOZHP.TO vs. HPR.TOZHP.TO vs. TPRF.TOZHP.TO vs. ZEB.TO

Return for Risk

HYBR.TO vs. ZHP.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HYBR.TO
HYBR.TO Risk / Return Rank: 9292
Overall Rank
HYBR.TO Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
HYBR.TO Sortino Ratio Rank: 8989
Sortino Ratio Rank
HYBR.TO Omega Ratio Rank: 8787
Omega Ratio Rank
HYBR.TO Calmar Ratio Rank: 9797
Calmar Ratio Rank
HYBR.TO Martin Ratio Rank: 9797
Martin Ratio Rank
ZHP.TO
ZHP.TO Risk / Return Rank: 1212
Overall Rank
ZHP.TO Sharpe Ratio Rank: 1313
Sharpe Ratio Rank
ZHP.TO Sortino Ratio Rank: 1212
Sortino Ratio Rank
ZHP.TO Omega Ratio Rank: 1111
Omega Ratio Rank
ZHP.TO Calmar Ratio Rank: 1313
Calmar Ratio Rank
ZHP.TO Martin Ratio Rank: 1212
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.

HYBR.TO vs. ZHP.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Active Hybrid Bond and Preferred Share ETF (HYBR.TO) and BMO US Preferred Share Hedged to CAD Index ETF (ZHP.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.

HYBR.TOZHP.TODifference
Sharpe ratioReturn per unit of total volatility
2.21
0.16

+2.04

Sortino ratioReturn per unit of downside risk
3.22
0.29

+2.93

Omega ratioGain probability vs. loss probability

1.41

1.03

+0.38

Calmar ratioReturn relative to maximum drawdown

7.96

0.18

+7.78

Martin ratioReturn relative to average drawdown

30.00

0.33

+29.67

HYBR.TO vs. ZHP.TO - Sharpe Ratio Comparison

The current HYBR.TO Sharpe Ratio is 2.21, which is higher than the ZHP.TO Sharpe Ratio of 0.16. The chart below compares the historical Sharpe Ratios of HYBR.TO and ZHP.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

HYBR.TO vs. ZHP.TO - Drawdown Comparison

The maximum HYBR.TO drawdown since its inception was -46.65%, which is greater than ZHP.TO's maximum drawdown of -41.53%. Use the drawdown chart below to compare losses from any high point for HYBR.TO and ZHP.TO.

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Drawdown Indicators

HYBR.TOZHP.TODifference

Max Drawdown

Largest peak-to-trough decline

-46.65%

-41.53%

-5.12%

Max Drawdown (1Y)

Largest decline over 1 year

-1.88%

-6.26%

+4.38%

Max Drawdown (3Y)

Largest decline over 3 years

-7.27%

-11.80%

+4.53%

Max Drawdown (5Y)

Largest decline over 5 years

-22.06%

-30.45%

+8.39%

Max Drawdown (10Y)

Largest decline over 10 years

-46.65%

—

—

Current Drawdown

Current decline from peak

-0.18%

-13.34%

+13.16%

Average Drawdown

Average peak-to-trough decline

-7.94%

-8.68%

+0.74%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.50%

3.34%

-2.84%

Volatility

HYBR.TO vs. ZHP.TO - Volatility Comparison

The current volatility for Global X Active Hybrid Bond and Preferred Share ETF (HYBR.TO) is 2.27%, while BMO US Preferred Share Hedged to CAD Index ETF (ZHP.TO) has a volatility of 2.81%. This indicates that HYBR.TO experiences smaller price fluctuations and is considered to be less risky than ZHP.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HYBR.TOZHP.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.27%

2.81%

-0.54%

Volatility (6M)

Calculated over the trailing 6-month period

4.53%

5.29%

-0.76%

Volatility (1Y)

Calculated over the trailing 1-year period

6.78%

6.73%

+0.05%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

10.45%

12.65%

-2.20%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

12.99%

15.92%

-2.93%

Dividends

HYBR.TO vs. ZHP.TO - Dividend Comparison

HYBR.TO's dividend yield for the trailing twelve months is around 4.59%, less than ZHP.TO's 6.20% yield.

PositionTTM20252024202320222021202020192018201720162015
HYBR.TO
Global X Active Hybrid Bond and Preferred Share ETF		4.59%4.31%4.24%5.28%5.56%3.94%5.14%4.78%4.26%3.70%4.28%4.34%
ZHP.TO
BMO US Preferred Share Hedged to CAD Index ETF		6.20%6.46%6.29%7.14%6.93%5.41%5.61%5.39%5.61%4.60%0.00%0.00%

Frequently Asked Questions

HYBR.TO and ZHP.TO have a correlation of 0.03, 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.

Portfolio Optimizer

Find the right allocation for HYBR.TO and ZHP.TO

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