ZBBB.TO vs. FIG.TO

Last updated Jul 16, 2026

ZBBB.TO (BMO BBB Corporate Bond Index ETF) and FIG.TO (CI Investment Grade Bond ETF) are both Corporate Bonds funds. ZBBB.TO is passively managed, while FIG.TO is actively managed. Over the past 5 years, ZBBB.TO returned 3.08%/yr vs 0.76%/yr for FIG.TO. At a 0.28 correlation, their price movements are largely independent.

Performance

ZBBB.TO vs. FIG.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO BBB Corporate Bond Index ETF (ZBBB.TO) and CI Investment Grade Bond ETF (FIG.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ZBBB.TO achieves a 1.74% return, which is significantly higher than FIG.TO's 1.51% return.

ZBBB.TO

• 1D: 0.00%
• 1M: 0.00%
• 6M: 1.22%
• YTD: 1.74%
• 1Y: 4.98%
• 3Y*: 6.94%
• 5Y*: 3.08%
• 10Y*: —

FIG.TO

• 1D: 0.43%
• 1M: -0.08%
• 6M: 0.98%
• YTD: 1.51%
• 1Y: 4.68%
• 3Y*: 5.55%
• 5Y*: 0.76%
• 10Y*: 2.22%

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

ZBBB.TO vs. FIG.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
ZBBB.TO BMO BBB Corporate Bond Index ETF	1.74%	4.83%	8.00%	5.61%	-4.43%	-1.12%	6.72%
FIG.TO CI Investment Grade Bond ETF	1.51%	5.12%	5.10%	6.23%	-12.53%	-1.69%	5.93%

Correlation

The correlation between ZBBB.TO and FIG.TO is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (5Y) Calculated over the trailing 5-year period	0.30
Correlation (All Time) Calculated using the full available price history since Feb 5, 2020	0.28

Return for Risk

ZBBB.TO vs. FIG.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ZBBB.TO

ZBBB.TO Risk / Return Rank: 59
ZBBB.TO Sharpe Ratio Rank: 54
ZBBB.TO Sortino Ratio Rank: 62
ZBBB.TO Omega Ratio Rank: 72
ZBBB.TO Calmar Ratio Rank: 58
ZBBB.TO Martin Ratio Rank: 49

FIG.TO

FIG.TO Risk / Return Rank: 37
FIG.TO Sharpe Ratio Rank: 34
FIG.TO Sortino Ratio Rank: 31
FIG.TO Omega Ratio Rank: 32
FIG.TO Calmar Ratio Rank: 49
FIG.TO Martin Ratio Rank: 38

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.

ZBBB.TO vs. FIG.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO BBB Corporate Bond Index ETF (ZBBB.TO) and CI Investment Grade Bond ETF (FIG.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.

	ZBBB.TO	FIG.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.52	1.04	+0.48
Sortino ratio: Return per unit of downside risk	2.36	1.47	+0.89
Omega ratio: Gain probability vs. loss probability	1.34	1.19	+0.15
Calmar ratio: Return relative to maximum drawdown	2.40	2.07	+0.33
Martin ratio: Return relative to average drawdown	6.77	5.01	+1.76

ZBBB.TO vs. FIG.TO - Sharpe Ratio Comparison

The current ZBBB.TO Sharpe Ratio is 1.52, which is higher than the FIG.TO Sharpe Ratio of 1.04. The chart below compares the historical Sharpe Ratios of ZBBB.TO and FIG.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.

Drawdowns

ZBBB.TO vs. FIG.TO - Drawdown Comparison

The maximum ZBBB.TO drawdown since its inception was -11.55%, smaller than the maximum FIG.TO drawdown of -16.80%. Use the drawdown chart below to compare losses from any high point for ZBBB.TO and FIG.TO.

Drawdown Indicators

	ZBBB.TO	FIG.TO	Difference
Max Drawdown Largest peak-to-trough decline	-11.55%	-16.80%	+5.25%
Max Drawdown (1Y) Largest decline over 1 year	-1.97%	-2.27%	+0.30%
Max Drawdown (3Y) Largest decline over 3 years	-1.97%	-3.24%	+1.27%
Max Drawdown (5Y) Largest decline over 5 years	-11.23%	-15.97%	+4.74%
Max Drawdown (10Y) Largest decline over 10 years	—	-16.80%	—
Current Drawdown Current decline from peak	0.00%	-0.63%	+0.63%
Average Drawdown Average peak-to-trough decline	-2.65%	-3.43%	+0.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.70%	0.93%	-0.23%

Volatility

ZBBB.TO vs. FIG.TO - Volatility Comparison

The current volatility for BMO BBB Corporate Bond Index ETF (ZBBB.TO) is 0.66%, while CI Investment Grade Bond ETF (FIG.TO) has a volatility of 1.71%. This indicates that ZBBB.TO experiences smaller price fluctuations and is considered to be less risky than FIG.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZBBB.TO	FIG.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.66%	1.71%	-1.05%
Volatility (6M) Calculated over the trailing 6-month period	1.98%	3.19%	-1.21%
Volatility (1Y) Calculated over the trailing 1-year period	3.13%	4.52%	-1.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.51%	5.45%	-0.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.84%	6.17%	-0.33%

Dividends

ZBBB.TO vs. FIG.TO - Dividend Comparison

ZBBB.TO's dividend yield for the trailing twelve months is around 3.18%, less than FIG.TO's 4.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIG.TO CI Investment Grade Bond ETF	4.06%	4.04%	4.08%	4.12%	4.19%	3.52%	3.34%	3.41%	3.60%	4.34%	4.69%	5.05%
ZBBB.TO BMO BBB Corporate Bond Index ETF	3.18%	4.11%	3.72%	3.47%	4.42%	3.23%	3.10%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ZBBB.TO and FIG.TO in my portfolio?

ZBBB.TO and FIG.TO have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between ZBBB.TO and FIG.TO?

They also come from different issuers: BMO and CI.