XFLI.TO vs. ZJK.TO
XFLI.TO (iShares Flexible Monthly Income ETF CAD) and ZJK.TO (BMO High Yield US Corporate Bond Index ETF) are both High Yield Bonds funds. Over the past year, XFLI.TO returned 8.64% vs 9.78% for ZJK.TO. A 0.61 correlation means they provide meaningful diversification when combined.
Performance
XFLI.TO vs. ZJK.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XFLI.TO achieves a 4.52% return, which is significantly lower than ZJK.TO's 5.63% return.
XFLI.TO
- 1D
- 0.05%
- 1M
- 2.66%
- 6M
- 4.52%
- YTD
- 4.52%
- 1Y
- 8.64%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZJK.TO
- 1D
- 0.42%
- 1M
- 2.94%
- 6M
- 5.57%
- YTD
- 5.63%
- 1Y
- 9.78%
- 3Y*
- 10.93%
- 5Y*
- 6.44%
- 10Y*
- —
XFLI.TO vs. ZJK.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
XFLI.TO iShares Flexible Monthly Income ETF CAD | 4.52% | 2.07% | 6.23% |
ZJK.TO BMO High Yield US Corporate Bond Index ETF | 5.63% | 3.22% | 6.72% |
Correlation
The correlation between XFLI.TO and ZJK.TO is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Sep 26, 2024 | 0.61 |
The correlation between XFLI.TO and ZJK.TO has been stable across timeframes, ranging from 0.61 to 0.67 - a consistent structural relationship.
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Return for Risk
XFLI.TO vs. ZJK.TO — Risk / Return Rank
XFLI.TO
ZJK.TO
XFLI.TO vs. ZJK.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Flexible Monthly Income ETF CAD (XFLI.TO) and BMO High Yield US Corporate Bond Index ETF (ZJK.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.
| XFLI.TO | ZJK.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | -0.22 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.32 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.09 | 2.66 | -0.57 |
| Martin ratioReturn relative to average drawdown | 4.51 | 7.71 | -3.20 |
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Drawdowns
XFLI.TO vs. ZJK.TO - Drawdown Comparison
The maximum XFLI.TO drawdown since its inception was -6.92%, smaller than the maximum ZJK.TO drawdown of -19.40%. Use the drawdown chart below to compare losses from any high point for XFLI.TO and ZJK.TO.
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Drawdown Indicators
| XFLI.TO | ZJK.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.92% | -19.40% | +12.48% |
Max Drawdown (1Y)Largest decline over 1 year | -4.15% | -3.69% | -0.46% |
Max Drawdown (3Y)Largest decline over 3 years | — | -7.69% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -14.93% | — |
Current DrawdownCurrent decline from peak | -0.82% | -0.25% | -0.57% |
Average DrawdownAverage peak-to-trough decline | -2.06% | -2.65% | +0.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.92% | 1.27% | +0.65% |
Volatility
XFLI.TO vs. ZJK.TO - Volatility Comparison
iShares Flexible Monthly Income ETF CAD (XFLI.TO) has a higher volatility of 2.22% compared to BMO High Yield US Corporate Bond Index ETF (ZJK.TO) at 1.79%. This indicates that XFLI.TO's price experiences larger fluctuations and is considered to be riskier than ZJK.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XFLI.TO | ZJK.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.22% | 1.79% | +0.43% |
Volatility (6M)Calculated over the trailing 6-month period | 4.50% | 4.54% | -0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.56% | 5.92% | -0.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.36% | 7.82% | -1.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.36% | 10.09% | -3.73% |
Dividends
XFLI.TO vs. ZJK.TO - Dividend Comparison
XFLI.TO's dividend yield for the trailing twelve months is around 5.38%, less than ZJK.TO's 6.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
XFLI.TO iShares Flexible Monthly Income ETF CAD | 5.38% | 5.69% | 2.07% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZJK.TO BMO High Yield US Corporate Bond Index ETF | 6.16% | 5.97% | 5.59% | 6.15% | 6.37% | 5.60% | 5.94% | 6.32% | 5.45% | 0.88% |
Frequently Asked Questions
XFLI.TO and ZJK.TO have a correlation of 0.67, 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: iShares and BMO.
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