SUBD.AX vs. ZFH.TO
Compare and contrast key facts about Vaneck Australian Subordinated Debt ETF (SUBD.AX) and BMO Floating Rate High Yield ETF (ZFH.TO).
SUBD.AX and ZFH.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SUBD.AX is a passively managed fund by VanEck that tracks the performance of the iBoxx AUD Investment Grade Subordinated Debt Mid Price Index. It was launched on Oct 28, 2019. ZFH.TO is an actively managed fund by BMO. It was launched on Feb 10, 2014.
Performance
SUBD.AX vs. ZFH.TO - Performance Comparison
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SUBD.AX vs. ZFH.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SUBD.AX Vaneck Australian Subordinated Debt ETF | 0.59% | 5.55% | 7.13% | 7.11% | 0.27% | 2.12% | 2.39% | 0.59% |
ZFH.TO BMO Floating Rate High Yield ETF | -5.37% | 2.56% | 13.08% | 16.22% | -1.46% | 11.69% | -10.61% | -0.11% |
Different Trading Currencies
SUBD.AX is traded in AUD, while ZFH.TO is traded in CAD. To make them comparable, the ZFH.TO values have been converted to AUD using the latest available exchange rates.
Returns By Period
In the year-to-date period, SUBD.AX achieves a 0.59% return, which is significantly higher than ZFH.TO's -5.37% return.
SUBD.AX
- 1D
- -0.44%
- 1M
- -0.44%
- YTD
- 0.59%
- 6M
- 1.71%
- 1Y
- 5.15%
- 3Y*
- 6.17%
- 5Y*
- 4.33%
- 10Y*
- —
ZFH.TO
- 1D
- 0.95%
- 1M
- 0.67%
- YTD
- -5.37%
- 6M
- -4.67%
- 1Y
- -1.32%
- 3Y*
- 6.79%
- 5Y*
- 6.18%
- 10Y*
- 5.76%
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SUBD.AX vs. ZFH.TO - Expense Ratio Comparison
SUBD.AX has a 0.29% expense ratio, which is lower than ZFH.TO's 0.40% expense ratio.
Return for Risk
SUBD.AX vs. ZFH.TO — Risk / Return Rank
SUBD.AX
ZFH.TO
SUBD.AX vs. ZFH.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vaneck Australian Subordinated Debt ETF (SUBD.AX) and BMO Floating Rate High Yield ETF (ZFH.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.
| SUBD.AX | ZFH.TO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.57 | -0.18 | +3.76 |
Sortino ratioReturn per unit of downside risk | 4.77 | -0.21 | +4.98 |
Omega ratioGain probability vs. loss probability | 2.04 | 0.98 | +1.07 |
Calmar ratioReturn relative to maximum drawdown | 4.74 | -0.14 | +4.89 |
Martin ratioReturn relative to average drawdown | 29.62 | -0.41 | +30.02 |
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
| SUBD.AX | ZFH.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.57 | -0.18 | +3.76 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 3.13 | 0.73 | +2.40 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.56 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.82 | 0.51 | +0.31 |
Correlation
The correlation between SUBD.AX and ZFH.TO is 0.03, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
SUBD.AX vs. ZFH.TO - Dividend Comparison
SUBD.AX's dividend yield for the trailing twelve months is around 4.92%, less than ZFH.TO's 5.42% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SUBD.AX Vaneck Australian Subordinated Debt ETF | 4.92% | 5.54% | 5.85% | 5.13% | 2.60% | 1.90% | 2.01% | 0.18% | 0.00% | 0.00% | 0.00% | 0.00% |
ZFH.TO BMO Floating Rate High Yield ETF | 5.42% | 5.52% | 7.72% | 6.98% | 4.75% | 4.48% | 4.51% | 4.27% | 4.45% | 4.58% | 4.64% | 4.94% |
Drawdowns
SUBD.AX vs. ZFH.TO - Drawdown Comparison
The maximum SUBD.AX drawdown since its inception was -10.85%, smaller than the maximum ZFH.TO drawdown of -19.91%. Use the drawdown chart below to compare losses from any high point for SUBD.AX and ZFH.TO.
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Drawdown Indicators
| SUBD.AX | ZFH.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.85% | -20.98% | +10.13% |
Max Drawdown (1Y)Largest decline over 1 year | -1.12% | -4.26% | +3.14% |
Max Drawdown (5Y)Largest decline over 5 years | -2.87% | -9.53% | +6.66% |
Max Drawdown (10Y)Largest decline over 10 years | — | -20.98% | — |
Current DrawdownCurrent decline from peak | -0.55% | -2.61% | +2.06% |
Average DrawdownAverage peak-to-trough decline | -0.44% | -1.82% | +1.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.17% | 1.09% | -0.92% |
Volatility
SUBD.AX vs. ZFH.TO - Volatility Comparison
The current volatility for Vaneck Australian Subordinated Debt ETF (SUBD.AX) is 0.50%, while BMO Floating Rate High Yield ETF (ZFH.TO) has a volatility of 3.12%. This indicates that SUBD.AX experiences smaller price fluctuations and is considered to be less risky than ZFH.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SUBD.AX | ZFH.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.50% | 3.12% | -2.62% |
Volatility (6M)Calculated over the trailing 6-month period | 0.79% | 5.33% | -4.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.44% | 7.20% | -5.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.38% | 8.50% | -7.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.86% | 10.40% | -5.54% |