ZFH.TO vs. HYLB
ZFH.TO (BMO Floating Rate High Yield ETF) and HYLB (Xtrackers USD High Yield Corporate Bond ETF) are both High Yield Bonds funds. ZFH.TO is actively managed, while HYLB is passively managed. Over the past 5 years, ZFH.TO returned 6.72%/yr vs 7.01%/yr for HYLB. At a 0.08 correlation, their price movements are largely independent. ZFH.TO charges 0.40%/yr vs 0.15%/yr for HYLB.
Performance
ZFH.TO vs. HYLB - Performance Comparison
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Different Trading Currencies
ZFH.TO is traded in CAD, while HYLB is traded in USD. To make them comparable, the HYLB 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 2.17% return, which is significantly lower than HYLB's 2.83% return.
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%
HYLB
- 1D
- 0.23%
- 1M
- 2.38%
- YTD
- 2.83%
- 6M
- 1.61%
- 1Y
- 8.25%
- 3Y*
- 9.98%
- 5Y*
- 7.01%
- 10Y*
- —
ZFH.TO vs. HYLB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ZFH.TO BMO Floating Rate High Yield ETF | 2.17% | 5.53% | 11.55% | 13.55% | -0.94% | 4.73% | -3.93% | 11.12% | 0.72% | 5.39% |
HYLB Xtrackers USD High Yield Corporate Bond ETF | 2.83% | 3.76% | 17.43% | 9.56% | -4.44% | 3.00% | 3.26% | 8.45% | 6.53% | -0.75% |
Correlation
The correlation between ZFH.TO and HYLB is 0.08, 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 | 0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Dec 8, 2016 | 0.08 |
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Return for Risk
ZFH.TO vs. HYLB — Risk / Return Rank
ZFH.TO
HYLB
ZFH.TO vs. HYLB - 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 USD High Yield Corporate Bond ETF (HYLB). 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 | HYLB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.09 | ||
| Sortino ratioReturn per unit of downside risk | -0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.30 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.84 | 2.65 | -0.81 |
| Martin ratioReturn relative to average drawdown | 6.33 | 7.18 | -0.85 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ZFH.TO | HYLB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.54 | 1.62 | -0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.05 | 0.97 | +0.08 |
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 | 0.66 | -0.02 |
Drawdowns
ZFH.TO vs. HYLB - Drawdown Comparison
The maximum ZFH.TO drawdown since its inception was -20.98%, which is greater than HYLB's maximum drawdown of -15.76%. Use the drawdown chart below to compare losses from any high point for ZFH.TO and HYLB.
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Drawdown Indicators
| ZFH.TO | HYLB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.98% | -15.76% | -5.22% |
Max Drawdown (1Y)Largest decline over 1 year | -3.27% | -3.13% | -0.14% |
Max Drawdown (3Y)Largest decline over 3 years | -6.40% | -7.36% | +0.96% |
Max Drawdown (5Y)Largest decline over 5 years | -9.53% | -14.41% | +4.88% |
Max Drawdown (10Y)Largest decline over 10 years | -20.98% | — | — |
Current DrawdownCurrent decline from peak | -0.20% | 0.00% | -0.20% |
Average DrawdownAverage peak-to-trough decline | -1.80% | -2.62% | +0.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | 1.15% | -0.20% |
Volatility
ZFH.TO vs. HYLB - Volatility Comparison
The current volatility for BMO Floating Rate High Yield ETF (ZFH.TO) is 0.96%, while Xtrackers USD High Yield Corporate Bond ETF (HYLB) has a volatility of 1.20%. This indicates that ZFH.TO experiences smaller price fluctuations and is considered to be less risky than HYLB 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 | HYLB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.96% | 1.20% | -0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 3.01% | 4.09% | -1.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.92% | 5.10% | -1.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.42% | 7.23% | -0.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.33% | 8.01% | +0.32% |
ZFH.TO vs. HYLB - Expense Ratio Comparison
ZFH.TO has a 0.40% expense ratio, which is higher than HYLB's 0.15% expense ratio.
Dividends
ZFH.TO vs. HYLB - Dividend Comparison
ZFH.TO's dividend yield for the trailing twelve months is around 5.21%, less than HYLB's 6.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYLB Xtrackers USD High Yield Corporate Bond ETF | 6.49% | 6.29% | 6.31% | 5.84% | 5.53% | 4.45% | 5.22% | 5.71% | 5.95% | 5.85% | 0.27% | 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 HYLB have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HYLB is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HYLB is cheaper with a 0.15% expense ratio, compared with 0.40% for ZFH.TO.
They also come from different issuers: BMO and DWS. Their fees differ too: 0.40% for ZFH.TO and 0.15% for HYLB.
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