SYLD.TO vs. ZFH.TO
SYLD.TO (Purpose Strategic Yield Fund) and ZFH.TO (BMO Floating Rate High Yield ETF) are both High Yield Bonds funds. Both are actively managed. Over the past 5 years, SYLD.TO returned 4.88%/yr vs 6.65%/yr for ZFH.TO. At a 0.12 correlation, their price movements are largely independent. SYLD.TO charges 0.95%/yr vs 0.40%/yr for ZFH.TO.
Performance
SYLD.TO vs. ZFH.TO - Performance Comparison
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Returns By Period
In the year-to-date period, SYLD.TO achieves a 3.38% return, which is significantly higher than ZFH.TO's 2.38% return.
SYLD.TO
- 1D
- -0.10%
- 1M
- 0.03%
- 6M
- 2.66%
- YTD
- 3.38%
- 1Y
- 9.54%
- 3Y*
- 10.24%
- 5Y*
- 4.88%
- 10Y*
- —
- ALL TIME*
- 6.24%
ZFH.TO
- 1D
- -0.20%
- 1M
- 0.13%
- 6M
- 1.77%
- YTD
- 2.38%
- 1Y
- 4.00%
- 3Y*
- 8.44%
- 5Y*
- 6.65%
- 10Y*
- 5.44%
- ALL TIME*
- 5.24%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
SYLD.TO Purpose Strategic Yield Fund | CA$51.46K | CA$69.71K | CA$109.09K |
| CA$246.87K | CA$222.58K | CA$258.07K |
SYLD.TO vs. ZFH.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SYLD.TO Purpose Strategic Yield Fund | 3.38% | 10.15% | 13.23% | 6.84% | -8.64% | 12.53% | 10.72% | 8.65% | -3.02% |
ZFH.TO BMO Floating Rate High Yield ETF | 2.38% | 5.61% | 11.66% | 13.66% | -0.89% | 4.79% | -3.87% | 11.18% | 1.43% |
Correlation
The correlation between SYLD.TO and ZFH.TO is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2018 | 0.12 |
The correlation between SYLD.TO and ZFH.TO shifts across timeframes, from 0.12 (all time) to 0.26 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SYLD.TO vs. ZFH.TO — Risk / Return Rank
SYLD.TO
ZFH.TO
SYLD.TO vs. ZFH.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Purpose Strategic Yield Fund (SYLD.TO) 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.
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.
| SYLD.TO | ZFH.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.79 | ||
| Sortino ratioReturn per unit of downside risk | +3.24 | ||
| Omega ratioGain probability vs. loss probability | 1.60 | 1.21 | +0.39 |
| Calmar ratioReturn relative to maximum drawdown | 6.91 | 1.23 | +5.68 |
| Martin ratioReturn relative to average drawdown | 27.25 | 4.25 | +22.99 |
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Drawdowns
SYLD.TO vs. ZFH.TO - Drawdown Comparison
The maximum SYLD.TO drawdown since its inception was -32.17%, which is greater than ZFH.TO's maximum drawdown of -21.41%. Use the drawdown chart below to compare losses from any high point for SYLD.TO and ZFH.TO.
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Drawdown Indicators
| SYLD.TO | ZFH.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.17% | -21.41% | -10.76% |
Max Drawdown (1Y)Largest decline over 1 year | -1.39% | -3.27% | +1.88% |
Max Drawdown (3Y)Largest decline over 3 years | -3.40% | -6.39% | +2.99% |
Max Drawdown (5Y)Largest decline over 5 years | -9.48% | -9.75% | +0.27% |
Max Drawdown (10Y)Largest decline over 10 years | — | -21.41% | — |
Current DrawdownCurrent decline from peak | -0.25% | -0.46% | +0.21% |
Average DrawdownAverage peak-to-trough decline | -2.56% | -2.04% | -0.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.35% | 0.94% | -0.59% |
Volatility
SYLD.TO vs. ZFH.TO - Volatility Comparison
Purpose Strategic Yield Fund (SYLD.TO) has a higher volatility of 0.61% compared to BMO Floating Rate High Yield ETF (ZFH.TO) at 0.54%. This indicates that SYLD.TO's price experiences larger fluctuations and is considered to be riskier 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
| SYLD.TO | ZFH.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.61% | 0.54% | +0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 1.98% | 2.62% | -0.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.43% | 3.72% | -0.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.49% | 8.09% | -3.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.06% | 9.41% | +0.65% |
SYLD.TO vs. ZFH.TO - Expense Ratio Comparison
SYLD.TO has a 0.95% expense ratio, which is higher than ZFH.TO's 0.40% expense ratio.
Dividends
SYLD.TO vs. ZFH.TO - Dividend Comparison
SYLD.TO's dividend yield for the trailing twelve months is around 5.82%, more than ZFH.TO's 5.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SYLD.TO Purpose Strategic Yield Fund | 5.82% | 5.85% | 6.07% | 6.45% | 6.46% | 5.56% | 5.91% | 6.13% | 4.70% | 0.00% | 0.00% | 0.00% |
ZFH.TO BMO Floating Rate High Yield ETF | 5.18% | 5.58% | 7.82% | 7.07% | 4.81% | 4.54% | 4.57% | 4.32% | 4.51% | 4.64% | 4.70% | 5.01% |
Frequently Asked Questions
SYLD.TO and ZFH.TO have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZFH.TO is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZFH.TO is cheaper with a 0.40% expense ratio, compared with 0.95% for SYLD.TO.
They also come from different issuers: Purpose Investments Inc. and BMO. Their fees differ too: 0.95% for SYLD.TO and 0.40% for ZFH.TO.
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