ZFH.TO vs. BSJR
ZFH.TO (BMO Floating Rate High Yield ETF) and BSJR (Invesco BulletShares 2027 High Yield Corporate Bond ETF) are both High Yield Bonds funds. ZFH.TO is actively managed, while BSJR is passively managed. Over the past 5 years, ZFH.TO returned 6.65%/yr vs 5.85%/yr for BSJR. At a 0.09 correlation, their price movements are largely independent. ZFH.TO charges 0.40%/yr vs 0.42%/yr for BSJR.
Performance
ZFH.TO vs. BSJR - Performance Comparison
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Different Trading Currencies
ZFH.TO is traded in CAD, while BSJR is traded in USD. To make them comparable, the BSJR 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 BSJR's 5.07% 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%
BSJR
- 1D
- -0.04%
- 1M
- 1.60%
- 6M
- 3.52%
- YTD
- 5.07%
- 1Y
- 7.90%
- 3Y*
- 10.31%
- 5Y*
- 5.85%
- 10Y*
- —
ZFH.TO vs. BSJR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
ZFH.TO BMO Floating Rate High Yield ETF | 2.58% | 5.61% | 11.66% | 13.66% | -0.89% | 4.79% | -3.87% | 3.52% |
BSJR Invesco BulletShares 2027 High Yield Corporate Bond ETF | 5.07% | 2.51% | 16.22% | 9.24% | -5.73% | 3.55% | 3.18% | 2.03% |
Correlation
The correlation between ZFH.TO and BSJR is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Sep 12, 2019 | 0.09 |
The correlation between ZFH.TO and BSJR shifts across timeframes, from -0.09 (1 year) to 0.12 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
ZFH.TO vs. BSJR — Risk / Return Rank
ZFH.TO
BSJR
ZFH.TO vs. BSJR - 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 2027 High Yield Corporate Bond ETF (BSJR). 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 | BSJR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.44 | ||
| Sortino ratioReturn per unit of downside risk | -0.71 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.30 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.40 | 2.37 | -0.97 |
| Martin ratioReturn relative to average drawdown | 4.84 | 6.15 | -1.31 |
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Drawdowns
ZFH.TO vs. BSJR - Drawdown Comparison
The maximum ZFH.TO drawdown since its inception was -21.41%, which is greater than BSJR's maximum drawdown of -15.85%. Use the drawdown chart below to compare losses from any high point for ZFH.TO and BSJR.
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Drawdown Indicators
| ZFH.TO | BSJR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.41% | -15.85% | -5.56% |
Max Drawdown (1Y)Largest decline over 1 year | -3.27% | -3.35% | +0.08% |
Max Drawdown (3Y)Largest decline over 3 years | -6.39% | -6.42% | +0.03% |
Max Drawdown (5Y)Largest decline over 5 years | -9.75% | -15.34% | +5.59% |
Max Drawdown (10Y)Largest decline over 10 years | -21.41% | — | — |
Current DrawdownCurrent decline from peak | -0.26% | -0.43% | +0.17% |
Average DrawdownAverage peak-to-trough decline | -2.05% | -2.94% | +0.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 1.29% | -0.35% |
Volatility
ZFH.TO vs. BSJR - Volatility Comparison
The current volatility for BMO Floating Rate High Yield ETF (ZFH.TO) is 0.57%, while Invesco BulletShares 2027 High Yield Corporate Bond ETF (BSJR) has a volatility of 1.29%. This indicates that ZFH.TO experiences smaller price fluctuations and is considered to be less risky than BSJR 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 | BSJR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.57% | 1.29% | -0.72% |
Volatility (6M)Calculated over the trailing 6-month period | 2.78% | 3.59% | -0.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.74% | 4.78% | -1.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.11% | 9.25% | -1.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.43% | 11.32% | -1.89% |
ZFH.TO vs. BSJR - Expense Ratio Comparison
ZFH.TO has a 0.40% expense ratio, which is lower than BSJR's 0.42% expense ratio.
Dividends
ZFH.TO vs. BSJR - Dividend Comparison
ZFH.TO's dividend yield for the trailing twelve months is around 5.17%, less than BSJR's 5.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BSJR Invesco BulletShares 2027 High Yield Corporate Bond ETF | 5.65% | 6.19% | 6.75% | 6.48% | 5.37% | 4.49% | 4.53% | 1.20% | 0.00% | 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 BSJR have a correlation of -0.09, 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 BSJR.
They also come from different issuers: BMO and Invesco. Their fees differ too: 0.40% for ZFH.TO and 0.42% for BSJR.
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