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

ZFH.TO vs. HYXU

Last updated Jun 4, 2026

ZFH.TO (BMO Floating Rate High Yield ETF) and HYXU (iShares Euro High Yield Corporate Bond USD Hedged ETF) are both High Yield Bonds funds. ZFH.TO is actively managed, while HYXU is passively managed. At a correlation of -0.60, they often move in opposite directions. ZFH.TO charges 0.40%/yr vs 0.35%/yr for HYXU.

Performance

ZFH.TO vs. HYXU - 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 iShares Euro High Yield Corporate Bond USD Hedged ETF (HYXU). 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 HYXU is traded in USD. To make them comparable, the HYXU 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%

HYXU

1D
0.41%
1M
—
YTD
—
6M
—
1Y
—
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

ZFH.TO vs. HYXU - Yearly Performance Comparison

2026 (YTD)
ZFH.TO
BMO Floating Rate High Yield ETF		0.26%
HYXU
iShares Euro High Yield Corporate Bond USD Hedged ETF		0.38%

Correlation

The correlation between ZFH.TO and HYXU is -0.60, 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 May 29, 2026

-0.60

ZFH.TO vs. HYXU - Sectors Allocation Comparison

Sectors
ZFH.TO
HYXU

Real Estate

6.8%

-

Basic Materials

-

-

Communication Services

-

100.0%

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Financial Services

-

-

Healthcare

-

-

Industrials

-

-

Technology

-

-

Utilities

-

-

Real Estate

ZFH.TO
6.8%
HYXU

-

Basic Materials

ZFH.TO

-

HYXU

-

Communication Services

ZFH.TO

-

HYXU
100.0%

Consumer Cyclical

ZFH.TO

-

HYXU

-

Consumer Defensive

ZFH.TO

-

HYXU

-

Energy

ZFH.TO

-

HYXU

-

Financial Services

ZFH.TO

-

HYXU

-

Healthcare

ZFH.TO

-

HYXU

-

Industrials

ZFH.TO

-

HYXU

-

Technology

ZFH.TO

-

HYXU

-

Utilities

ZFH.TO

-

HYXU

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

BMO Floating Rate High Yield ETF

iShares Euro High Yield Corporate Bond USD Hedged 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 HYXU:
HYXU vs. IBNDHYXU vs. IBHDHYXU vs. IGHGHYXU vs. PICBHYXU vs. WIPHYXU vs. HYEMHYXU vs. BNDX

Return for Risk

ZFH.TO vs. HYXU — 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
HYXU
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. HYXU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO Floating Rate High Yield ETF (ZFH.TO) and iShares Euro High Yield Corporate Bond USD Hedged ETF (HYXU). 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.TOHYXUDifference
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. HYXU - Sharpe Ratio Comparison

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Sharpe Ratios by Period

ZFH.TOHYXUDifference

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

5.24

-4.60

Drawdowns

ZFH.TO vs. HYXU - Drawdown Comparison

The maximum ZFH.TO drawdown since its inception was -20.98%, which is greater than HYXU's maximum drawdown of -0.43%. Use the drawdown chart below to compare losses from any high point for ZFH.TO and HYXU.

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Drawdown Indicators

ZFH.TOHYXUDifference

Max Drawdown

Largest peak-to-trough decline

-20.98%

-0.43%

-20.55%

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%

0.00%

-0.20%

Average Drawdown

Average peak-to-trough decline

-1.80%

-0.20%

-1.60%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.95%

—

—

Volatility

ZFH.TO vs. HYXU - Volatility Comparison

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Volatility by Period

ZFH.TOHYXUDifference

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%

5.99%

-2.07%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.42%

5.99%

+0.43%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

8.33%

5.99%

+2.34%

ZFH.TO vs. HYXU - Expense Ratio Comparison

ZFH.TO has a 0.40% expense ratio, which is higher than HYXU's 0.35% expense ratio.

Dividends

ZFH.TO vs. HYXU - Dividend Comparison

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

PositionTTM20252024202320222021202020192018201720162015
HYXU
iShares Euro High Yield Corporate Bond USD Hedged 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 HYXU have a correlation of -0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, HYXU is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

HYXU is cheaper with a 0.35% expense ratio, compared with 0.40% for ZFH.TO.

They also come from different issuers: BMO and iShares. Their fees differ too: 0.40% for ZFH.TO and 0.35% for HYXU.

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