ZFH.TO vs. BSJQ
ZFH.TO (BMO Floating Rate High Yield ETF) and BSJQ (Invesco BulletShares 2026 High Yield Corp Bond ETF) are both High Yield Bonds funds. ZFH.TO is actively managed, while BSJQ is passively managed. Over the past 5 years, ZFH.TO returned 6.65%/yr vs 6.21%/yr for BSJQ. At a 0.06 correlation, their price movements are largely independent. ZFH.TO charges 0.40%/yr vs 0.42%/yr for BSJQ.
Performance
ZFH.TO vs. BSJQ - Performance Comparison
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Different Trading Currencies
ZFH.TO is traded in CAD, while BSJQ is traded in USD. To make them comparable, the BSJQ 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 2.58% return, which is significantly lower than BSJQ's 4.44% return.
ZFH.TO
- 1D
- 0.00%
- 1M
- 0.26%
- 6M
- 1.97%
- YTD
- 2.58%
- 1Y
- 4.55%
- 3Y*
- 8.89%
- 5Y*
- 6.65%
- 10Y*
- 5.48%
BSJQ
- 1D
- -0.06%
- 1M
- 1.32%
- 6M
- 3.01%
- YTD
- 4.44%
- 1Y
- 7.50%
- 3Y*
- 9.30%
- 5Y*
- 6.21%
- 10Y*
- —
ZFH.TO vs. BSJQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
ZFH.TO BMO Floating Rate High Yield ETF | 2.58% | 5.61% | 11.66% | 13.66% | -0.89% | 4.79% | -3.87% | 11.18% | -1.77% |
BSJQ Invesco BulletShares 2026 High Yield Corp Bond ETF | 4.44% | 1.72% | 16.59% | 7.22% | -1.48% | 4.48% | 0.36% | 11.92% | 0.37% |
Correlation
The correlation between ZFH.TO and BSJQ is -0.16, 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 (1Y) Calculated over the trailing 1-year period | -0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Aug 9, 2018 | 0.06 |
The correlation between ZFH.TO and BSJQ shifts across timeframes, from -0.16 (1 year) to 0.08 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
ZFH.TO vs. BSJQ — Risk / Return Rank
ZFH.TO
BSJQ
ZFH.TO vs. BSJQ - 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 2026 High Yield Corp Bond ETF (BSJQ). 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.
| ZFH.TO | BSJQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.44 | ||
| Sortino ratioReturn per unit of downside risk | -0.67 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.30 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.40 | 2.01 | -0.61 |
| Martin ratioReturn relative to average drawdown | 4.84 | 5.53 | -0.68 |
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Drawdowns
ZFH.TO vs. BSJQ - Drawdown Comparison
The maximum ZFH.TO drawdown since its inception was -21.41%, which is greater than BSJQ's maximum drawdown of -17.43%. Use the drawdown chart below to compare losses from any high point for ZFH.TO and BSJQ.
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Drawdown Indicators
| ZFH.TO | BSJQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.41% | -17.43% | -3.98% |
Max Drawdown (1Y)Largest decline over 1 year | -3.27% | -3.75% | +0.48% |
Max Drawdown (3Y)Largest decline over 3 years | -6.39% | -6.57% | +0.18% |
Max Drawdown (5Y)Largest decline over 5 years | -9.75% | -12.43% | +2.68% |
Max Drawdown (10Y)Largest decline over 10 years | -21.41% | — | — |
Current DrawdownCurrent decline from peak | -0.26% | -0.54% | +0.28% |
Average DrawdownAverage peak-to-trough decline | -2.05% | -2.27% | +0.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 1.36% | -0.42% |
Volatility
ZFH.TO vs. BSJQ - Volatility Comparison
The current volatility for BMO Floating Rate High Yield ETF (ZFH.TO) is 0.57%, while Invesco BulletShares 2026 High Yield Corp Bond ETF (BSJQ) has a volatility of 1.22%. This indicates that ZFH.TO experiences smaller price fluctuations and is considered to be less risky than BSJQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZFH.TO | BSJQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.57% | 1.22% | -0.65% |
Volatility (6M)Calculated over the trailing 6-month period | 2.78% | 3.42% | -0.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.74% | 4.54% | -0.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.11% | 8.64% | -0.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.43% | 10.35% | -0.92% |
ZFH.TO vs. BSJQ - Expense Ratio Comparison
ZFH.TO has a 0.40% expense ratio, which is lower than BSJQ's 0.42% expense ratio.
Dividends
ZFH.TO vs. BSJQ - Dividend Comparison
ZFH.TO's dividend yield for the trailing twelve months is around 5.17%, less than BSJQ's 5.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BSJQ Invesco BulletShares 2026 High Yield Corp Bond ETF | 5.79% | 6.10% | 6.58% | 6.58% | 5.58% | 4.27% | 4.64% | 4.59% | 2.39% | 0.00% | 0.00% | 0.00% |
ZFH.TO BMO Floating Rate High Yield ETF | 5.17% | 5.58% | 7.82% | 7.07% | 4.81% | 4.54% | 4.57% | 4.32% | 4.51% | 4.64% | 4.70% | 5.01% |
Frequently Asked Questions
ZFH.TO and BSJQ have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
ZFH.TO is cheaper with a 0.40% expense ratio, compared with 0.42% for BSJQ.
They also come from different issuers: BMO and Invesco. Their fees differ too: 0.40% for ZFH.TO and 0.42% for BSJQ.
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