ZFH.TO vs. BBHY

Last updated Jun 5, 2026

ZFH.TO (BMO Floating Rate High Yield ETF) and BBHY (JPMorgan BetaBuilders USD High Yield Corporate Bond ETF) are both High Yield Bonds funds. ZFH.TO is actively managed, while BBHY is passively managed. Over the past 5 years, ZFH.TO returned 6.71%/yr vs 7.12%/yr for BBHY. At a 0.06 correlation, their price movements are largely independent. ZFH.TO charges 0.40%/yr vs 0.15%/yr for BBHY.

Performance

ZFH.TO vs. BBHY - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO Floating Rate High Yield ETF (ZFH.TO) and JPMorgan BetaBuilders USD High Yield Corporate Bond ETF (BBHY). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

ZFH.TO is traded in CAD, while BBHY is traded in USD. To make them comparable, the BBHY values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, ZFH.TO achieves a 2.14% return, which is significantly lower than BBHY's 3.13% return.

ZFH.TO

• 1D: -0.03%
• 1M: 0.72%
• YTD: 2.14%
• 6M: 1.17%
• 1Y: 5.81%
• 3Y*: 9.31%
• 5Y*: 6.71%
• 10Y*: 5.56%

BBHY

• 1D: 0.25%
• 1M: 2.63%
• YTD: 3.13%
• 6M: 1.84%
• 1Y: 8.92%
• 3Y*: 10.00%
• 5Y*: 7.12%
• 10Y*: —

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

ZFH.TO vs. BBHY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ZFH.TO BMO Floating Rate High Yield ETF	2.14%	5.53%	11.55%	13.55%	-0.94%	4.73%	-3.93%	11.12%	0.72%	5.39%
BBHY JPMorgan BetaBuilders USD High Yield Corporate Bond ETF	3.13%	3.53%	17.07%	9.51%	-3.98%	2.94%	3.58%	8.73%	5.77%	-0.22%

Correlation

The correlation between ZFH.TO and BBHY is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.08
Correlation (All Time) Calculated using the full available price history since Sep 16, 2016	0.06

The correlation between ZFH.TO and BBHY shifts across timeframes, from 0.06 (all time) to 0.18 (3 years), reflecting how their relationship changes across market environments.

ZFH.TO vs. BBHY - Sectors Allocation Comparison

Sectors	ZFH.TO	BBHY
Real Estate	6.8%	3.9%
Basic Materials	-	3.2%
Communication Services	-	7.9%
Consumer Cyclical	-	10.0%
Consumer Defensive	-	2.5%
Energy	-	5.2%
Financial Services	-	4.1%
Healthcare	-	5.4%
Industrials	-	8.4%
Technology	-	4.0%
Utilities	-	2.0%

Return for Risk

ZFH.TO vs. BBHY — Risk / Return Rank

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

ZFH.TO

ZFH.TO Risk / Return Rank: 42
ZFH.TO Sharpe Ratio Rank: 43
ZFH.TO Sortino Ratio Rank: 43
ZFH.TO Omega Ratio Rank: 45
ZFH.TO Calmar Ratio Rank: 37
ZFH.TO Martin Ratio Rank: 40

BBHY

BBHY Risk / Return Rank: 65
BBHY Sharpe Ratio Rank: 60
BBHY Sortino Ratio Rank: 66
BBHY Omega Ratio Rank: 65
BBHY Calmar Ratio Rank: 62
BBHY Martin Ratio Rank: 73

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.

ZFH.TO vs. BBHY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO Floating Rate High Yield ETF (ZFH.TO) and JPMorgan BetaBuilders USD High Yield Corporate Bond ETF (BBHY). 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.

	ZFH.TO	BBHY	Difference
Sharpe ratio: Return per unit of total volatility	1.49	1.78	-0.28
Sortino ratio: Return per unit of downside risk	2.16	2.50	-0.34
Omega ratio: Gain probability vs. loss probability	1.29	1.33	-0.04
Calmar ratio: Return relative to maximum drawdown	1.78	2.74	-0.96
Martin ratio: Return relative to average drawdown	6.14	7.46	-1.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ZFH.TO vs. BBHY - Sharpe Ratio Comparison

The current ZFH.TO Sharpe Ratio is 1.49, which is comparable to the BBHY Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of ZFH.TO and BBHY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ZFH.TO	BBHY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.49	1.78	-0.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.05	1.01	+0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.67	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.71	-0.07

Drawdowns

ZFH.TO vs. BBHY - Drawdown Comparison

The maximum ZFH.TO drawdown since its inception was -20.98%, which is greater than BBHY's maximum drawdown of -18.14%. Use the drawdown chart below to compare losses from any high point for ZFH.TO and BBHY.

Drawdown Indicators

	ZFH.TO	BBHY	Difference
Max Drawdown Largest peak-to-trough decline	-20.98%	-18.14%	-2.84%
Max Drawdown (1Y) Largest decline over 1 year	-3.27%	-3.27%	0.00%
Max Drawdown (3Y) Largest decline over 3 years	-6.40%	-7.52%	+1.12%
Max Drawdown (5Y) Largest decline over 5 years	-9.53%	-14.19%	+4.66%
Max Drawdown (10Y) Largest decline over 10 years	-20.98%	—	—
Current Drawdown Current decline from peak	-0.23%	0.00%	-0.23%
Average Drawdown Average peak-to-trough decline	-1.80%	-2.63%	+0.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.95%	1.20%	-0.25%

Volatility

ZFH.TO vs. BBHY - Volatility Comparison

The current volatility for BMO Floating Rate High Yield ETF (ZFH.TO) is 0.95%, while JPMorgan BetaBuilders USD High Yield Corporate Bond ETF (BBHY) has a volatility of 1.07%. This indicates that ZFH.TO experiences smaller price fluctuations and is considered to be less risky than BBHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZFH.TO	BBHY	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.95%	1.07%	-0.12%
Volatility (6M) Calculated over the trailing 6-month period	3.01%	4.06%	-1.05%
Volatility (1Y) Calculated over the trailing 1-year period	3.91%	5.04%	-1.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.42%	7.08%	-0.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.33%	7.71%	+0.62%

ZFH.TO vs. BBHY - Expense Ratio Comparison

ZFH.TO has a 0.40% expense ratio, which is higher than BBHY's 0.15% expense ratio.

Dividends

ZFH.TO vs. BBHY - Dividend Comparison

ZFH.TO's dividend yield for the trailing twelve months is around 5.21%, less than BBHY's 6.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BBHY JPMorgan BetaBuilders USD High Yield Corporate Bond ETF	6.94%	7.24%	7.18%	6.49%	5.92%	4.06%	4.73%	4.99%	5.02%	4.81%	1.42%	0.00%
ZFH.TO BMO Floating Rate High Yield ETF	5.21%	5.52%	7.72%	6.98%	4.75%	4.48%	4.51%	4.27%	4.45%	4.58%	4.64%	4.94%

Frequently Asked Questions

Can I hold both ZFH.TO and BBHY in my portfolio?

ZFH.TO and BBHY have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ZFH.TO or BBHY?

On fees, BBHY is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ZFH.TO or BBHY?

BBHY is cheaper with a 0.15% expense ratio, compared with 0.40% for ZFH.TO.

What is the main difference between ZFH.TO and BBHY?

They also come from different issuers: BMO and JPMorgan. Their fees differ too: 0.40% for ZFH.TO and 0.15% for BBHY.