VBND vs. ZHOG

Last updated Aug 2, 2026

VBND (Vident U.S. Bond Strategy ETF) and ZHOG (F/m Opportunistic Income ETF) are both Intermediate Core-Plus Bond funds. VBND is passively managed, while ZHOG is actively managed. Over the past year, VBND returned 2.16% vs 3.61% for ZHOG. Their 0.77 correlation means they have sometimes moved together and sometimes differently. VBND charges 0.41%/yr vs 0.43%/yr for ZHOG.

Performance

VBND vs. ZHOG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vident U.S. Bond Strategy ETF (VBND) and F/m Opportunistic Income ETF (ZHOG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VBND achieves a -0.59% return, which is significantly lower than ZHOG's 0.84% return.

VBND

• 1D: -0.19%
• 1M: -1.53%
• 6M: -0.55%
• YTD: -0.59%
• 1Y: 2.16%
• 3Y*: 4.38%
• 5Y*: -0.19%
• 10Y*: 1.29%
• ALL TIME*: 1.54%

ZHOG

• 1D: -0.02%
• 1M: -0.29%
• 6M: 0.45%
• YTD: 0.84%
• 1Y: 3.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.12%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
VBND Vident U.S. Bond Strategy ETF	$846.73K	$2.16M	$1.29M
ZHOG F/m Opportunistic Income ETF	$58.62K	$55.64K	$69.45K

VBND vs. ZHOG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
VBND Vident U.S. Bond Strategy ETF	-0.59%	7.31%	1.26%	6.13%
ZHOG F/m Opportunistic Income ETF	0.84%	5.98%	4.94%	5.93%

Correlation

The correlation between VBND and ZHOG is 0.63, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.63
Correlation (All Time) Calculated using the full available price history since Sep 6, 2023	0.77

The correlation between VBND and ZHOG shifts across timeframes, from 0.63 (1 year) to 0.77 (all time), reflecting how their relationship changes across market environments.

Return for Risk

VBND vs. ZHOG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VBND

VBND Risk / Return Rank: 29
VBND Sharpe Ratio Rank: 30
VBND Sortino Ratio Rank: 29
VBND Omega Ratio Rank: 26
VBND Calmar Ratio Rank: 31
VBND Martin Ratio Rank: 30

ZHOG

ZHOG Risk / Return Rank: 89
ZHOG Sharpe Ratio Rank: 92
ZHOG Sortino Ratio Rank: 93
ZHOG Omega Ratio Rank: 93
ZHOG Calmar Ratio Rank: 82
ZHOG Martin Ratio Rank: 86

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VBND vs. ZHOG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vident U.S. Bond Strategy ETF (VBND) and F/m Opportunistic Income ETF (ZHOG). 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.

	VBND	ZHOG	Difference
Sharpe ratio: Return per unit of total volatility	0.73	2.43	-1.70
Sortino ratio: Return per unit of downside risk	1.10	3.59	-2.49
Omega ratio: Gain probability vs. loss probability	1.12	1.46	-0.34
Calmar ratio: Return relative to maximum drawdown	1.06	3.01	-1.96
Martin ratio: Return relative to average drawdown	2.72	12.31	-9.59

VBND vs. ZHOG - Sharpe Ratio Comparison

The current VBND Sharpe Ratio is 0.73, which is lower than the ZHOG Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of VBND and ZHOG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VBND vs. ZHOG - Drawdown Comparison

The maximum VBND drawdown since its inception was -18.97%, which is greater than ZHOG's maximum drawdown of -3.66%. Use the drawdown chart below to compare losses from any high point for VBND and ZHOG.

Drawdown Indicators

	VBND	ZHOG	Difference
Max Drawdown Largest peak-to-trough decline	-18.97%	-3.66%	-15.31%
Max Drawdown (1Y) Largest decline over 1 year	-2.82%	-1.31%	-1.51%
Max Drawdown (3Y) Largest decline over 3 years	-4.60%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-18.84%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-18.97%	—	—
Current Drawdown Current decline from peak	-1.84%	-0.54%	-1.30%
Average Drawdown Average peak-to-trough decline	-4.17%	-0.67%	-3.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.09%	0.32%	+0.77%

Volatility

VBND vs. ZHOG - Volatility Comparison

Vident U.S. Bond Strategy ETF (VBND) has a higher volatility of 1.01% compared to F/m Opportunistic Income ETF (ZHOG) at 0.66%. This indicates that VBND's price experiences larger fluctuations and is considered to be riskier than ZHOG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VBND	ZHOG	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.01%	0.66%	+0.35%
Volatility (6M) Calculated over the trailing 6-month period	2.94%	1.29%	+1.65%
Volatility (1Y) Calculated over the trailing 1-year period	4.12%	1.62%	+2.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.12%	3.93%	+2.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.45%	3.93%	+1.52%

VBND vs. ZHOG - Expense Ratio Comparison

VBND has a 0.41% expense ratio, which is lower than ZHOG's 0.43% expense ratio.

Dividends

VBND vs. ZHOG - Dividend Comparison

VBND's dividend yield for the trailing twelve months is around 4.35%, less than ZHOG's 5.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VBND Vident U.S. Bond Strategy ETF	4.35%	4.22%	4.41%	3.88%	2.55%	1.56%	1.98%	3.14%	2.82%	2.00%	3.12%	1.49%
ZHOG F/m Opportunistic Income ETF	5.04%	5.35%	5.50%	1.70%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VBND and ZHOG in my portfolio?

VBND and ZHOG have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VBND or ZHOG?

VBND has higher volatility (1.01%) compared to ZHOG (0.66%). In terms of maximum drawdown, VBND dropped -18.97% vs ZHOG's -3.66%.

Which ETF is better, VBND or ZHOG?

On 1-year performance, ZHOG leads with 3.61% vs 2.16% for VBND. On fees, VBND is cheaper at 0.41% per year. On volatility, ZHOG has been the lower-risk option at 0.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VBND or ZHOG?

Over the 1-year period, ZHOG has performed better with a 3.61% return vs 2.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VBND or ZHOG?

VBND is cheaper with a 0.41% expense ratio, compared with 0.43% for ZHOG.

Which ETF pays a higher dividend yield, VBND or ZHOG?

ZHOG has the higher dividend yield at 5.04%, compared with 4.35% for VBND.

What is the main difference between VBND and ZHOG?

They also come from different issuers: Vident and F/m. Their fees differ too: 0.41% for VBND and 0.43% for ZHOG.

Which has better risk-adjusted returns?

ZHOG currently has the higher Sharpe Ratio (2.43 vs 0.73), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.