ZFH.TO vs. BSJO

Last updated Jun 4, 2026

ZFH.TO (BMO Floating Rate High Yield ETF) and BSJO (Invesco BulletShares 2024 High Yield Corporate Bond ETF) are both High Yield Bonds funds. ZFH.TO is actively managed, while BSJO is passively managed. At a correlation of -0.17, they often move in opposite directions. ZFH.TO charges 0.40%/yr vs 0.42%/yr for BSJO.

Performance

ZFH.TO vs. BSJO - 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 Invesco BulletShares 2024 High Yield Corporate Bond ETF (BSJO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

ZFH.TO

• 1D: 0.00%
• 1M: 0.62%
• YTD: 2.17%
• 6M: 1.34%
• 1Y: 5.99%
• 3Y*: 9.48%
• 5Y*: 6.72%
• 10Y*: 5.61%

BSJO

• 1D: 0.41%
• 1M: 2.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ZFH.TO vs. BSJO - Yearly Performance Comparison

	2026 (YTD)
ZFH.TO BMO Floating Rate High Yield ETF	2.03%
BSJO Invesco BulletShares 2024 High Yield Corporate Bond ETF	1.65%

Correlation

The correlation between ZFH.TO and BSJO is -0.17, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 9, 2026	-0.17

Return for Risk

ZFH.TO vs. BSJO — 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: 43
ZFH.TO Sharpe Ratio Rank: 44
ZFH.TO Sortino Ratio Rank: 44
ZFH.TO Omega Ratio Rank: 47
ZFH.TO Calmar Ratio Rank: 38
ZFH.TO Martin Ratio Rank: 40

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. BSJO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO Floating Rate High Yield ETF (ZFH.TO) and Invesco BulletShares 2024 High Yield Corporate Bond ETF (BSJO). 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	BSJO	Difference
Sharpe ratio: Return per unit of total volatility	1.54	—	—
Sortino ratio: Return per unit of downside risk	2.23	—	—
Omega ratio: Gain probability vs. loss probability	1.29	—	—
Calmar ratio: Return relative to maximum drawdown	1.84	—	—
Martin ratio: Return relative to average drawdown	6.33	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	ZFH.TO	BSJO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.54	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.05	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.68	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	1.31	-0.67

Drawdowns

ZFH.TO vs. BSJO - Drawdown Comparison

The maximum ZFH.TO drawdown since its inception was -20.98%, which is greater than BSJO's maximum drawdown of -2.45%. Use the drawdown chart below to compare losses from any high point for ZFH.TO and BSJO.

Drawdown Indicators

	ZFH.TO	BSJO	Difference
Max Drawdown Largest peak-to-trough decline	-20.98%	-2.45%	-18.53%
Max Drawdown (1Y) Largest decline over 1 year	-3.27%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-6.40%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-9.53%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-20.98%	—	—
Current Drawdown Current decline from peak	-0.20%	-0.19%	-0.01%
Average Drawdown Average peak-to-trough decline	-1.80%	-0.88%	-0.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.95%	—	—

Volatility

Volatility by Period

	ZFH.TO	BSJO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.96%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.01%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.92%	4.29%	-0.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.42%	4.29%	+2.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.33%	4.29%	+4.04%

ZFH.TO vs. BSJO - Expense Ratio Comparison

ZFH.TO has a 0.40% expense ratio, which is lower than BSJO's 0.42% expense ratio.

Dividends

ZFH.TO vs. BSJO - Dividend Comparison

ZFH.TO's dividend yield for the trailing twelve months is around 5.21%, while BSJO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BSJO Invesco BulletShares 2024 High Yield Corporate Bond ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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 BSJO in my portfolio?

ZFH.TO and BSJO have a correlation of -0.17, 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 BSJO?

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.

Which ETF is cheaper, ZFH.TO or BSJO?

ZFH.TO is cheaper with a 0.40% expense ratio, compared with 0.42% for BSJO.

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

They also come from different issuers: BMO and Invesco. Their fees differ too: 0.40% for ZFH.TO and 0.42% for BSJO.