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ZFH.TO vs. ESHY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ZFH.TO vs. ESHY

Last updated Jun 4, 2026

ZFH.TO (BMO Floating Rate High Yield ETF) and ESHY (Xtrackers J.P. Morgan ESG USD High Yield Corporate Bond ETF) are both High Yield Bonds funds. ZFH.TO is actively managed, while ESHY is passively managed. At a correlation of -0.17, they often move in opposite directions. ZFH.TO charges 0.40%/yr vs 0.20%/yr for ESHY.

Performance

ZFH.TO vs. ESHY - 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 Xtrackers J.P. Morgan ESG USD High Yield Corporate Bond ETF (ESHY). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

ZFH.TO is traded in CAD, while ESHY is traded in USD. To make them comparable, the ESHY 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%

ESHY

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. ESHY - Yearly Performance Comparison

2026 (YTD)
ZFH.TO
BMO Floating Rate High Yield ETF		2.03%
ESHY
Xtrackers J.P. Morgan ESG USD High Yield Corporate Bond ETF		1.65%

Correlation

The correlation between ZFH.TO and ESHY 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

ZFH.TO vs. ESHY - Sectors Allocation Comparison

Sectors
ZFH.TO
ESHY

Real Estate

6.8%

-

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

100.0%

Financial Services

-

-

Healthcare

-

-

Industrials

-

-

Technology

-

-

Utilities

-

-

Real Estate

ZFH.TO
6.8%
ESHY

-

Basic Materials

ZFH.TO

-

ESHY

-

Communication Services

ZFH.TO

-

ESHY

-

Consumer Cyclical

ZFH.TO

-

ESHY

-

Consumer Defensive

ZFH.TO

-

ESHY

-

Energy

ZFH.TO

-

ESHY
100.0%

Financial Services

ZFH.TO

-

ESHY

-

Healthcare

ZFH.TO

-

ESHY

-

Industrials

ZFH.TO

-

ESHY

-

Technology

ZFH.TO

-

ESHY

-

Utilities

ZFH.TO

-

ESHY

-

Compare stocks, funds, or ETFs

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BMO Floating Rate High Yield ETF

Xtrackers J.P. Morgan ESG USD High Yield Corporate Bond ETF

Often compared with ZFH.TO:
ZFH.TO vs. DXV.TOZFH.TO vs. ZCS.TOZFH.TO vs. GFEA.DEZFH.TO vs. XSI.TOZFH.TO vs. XSH.TOZFH.TO vs. VAB.TOZFH.TO vs. XSB.TO
Often compared with ESHY:
ESHY vs. EBNDESHY vs. GHYGESHY vs. BKHYESHY vs. USHYESHY vs. HYGHESHY vs. SRLNESHY vs. XHYE

Return for Risk

ZFH.TO vs. ESHY — 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: 4343
Overall Rank
ZFH.TO Sharpe Ratio Rank: 4444
Sharpe Ratio Rank
ZFH.TO Sortino Ratio Rank: 4444
Sortino Ratio Rank
ZFH.TO Omega Ratio Rank: 4747
Omega Ratio Rank
ZFH.TO Calmar Ratio Rank: 3838
Calmar Ratio Rank
ZFH.TO Martin Ratio Rank: 4040
Martin Ratio Rank
ESHY
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. ESHY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO Floating Rate High Yield ETF (ZFH.TO) and Xtrackers J.P. Morgan ESG USD High Yield Corporate Bond ETF (ESHY). 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.TOESHYDifference
Sharpe ratioReturn per unit of total volatility
1.54

—

—

Sortino ratioReturn per unit of downside risk
2.23

—

—

Omega ratioGain probability vs. loss probability

1.29

—

—

Calmar ratioReturn relative to maximum drawdown

1.84

—

—

Martin ratioReturn 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.

ZFH.TO vs. ESHY - Sharpe Ratio Comparison

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Sharpe Ratios by Period

ZFH.TOESHYDifference

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. ESHY - Drawdown Comparison

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

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Drawdown Indicators

ZFH.TOESHYDifference

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

ZFH.TO vs. ESHY - Volatility Comparison

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Volatility by Period

ZFH.TOESHYDifference

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. ESHY - Expense Ratio Comparison

ZFH.TO has a 0.40% expense ratio, which is higher than ESHY's 0.20% expense ratio.

Dividends

ZFH.TO vs. ESHY - Dividend Comparison

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

PositionTTM20252024202320222021202020192018201720162015
ESHY
Xtrackers J.P. Morgan ESG USD 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

ZFH.TO and ESHY 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.

On fees, ESHY is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

ESHY is cheaper with a 0.20% expense ratio, compared with 0.40% for ZFH.TO.

They also come from different issuers: BMO and Deutsche Bank. Their fees differ too: 0.40% for ZFH.TO and 0.20% for ESHY.

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