ZFH.TO vs. IS3K.DE

Last updated Apr 2, 2026

Compare and contrast key facts about BMO Floating Rate High Yield ETF (ZFH.TO) and iShares USD Short Duration High Yield Corporate Bond UCITS ETF (IS3K.DE).

ZFH.TO and IS3K.DE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZFH.TO is an actively managed fund by BMO. It was launched on Feb 10, 2014. IS3K.DE is a passively managed fund by iShares that tracks the performance of the iBoxx® USD Liquid High Yield 0-5 Capped. It was launched on Oct 15, 2013.

Performance

ZFH.TO vs. IS3K.DE - 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 USD Short Duration High Yield Corporate Bond UCITS ETF (IS3K.DE). The values are adjusted to include any dividend payments, if applicable.

ZFH.TO vs. IS3K.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ZFH.TO BMO Floating Rate High Yield ETF	-1.23%	5.53%	11.55%	13.55%	-0.94%	4.73%	-3.93%	11.12%	0.72%	5.39%
IS3K.DE iShares USD Short Duration High Yield Corporate Bond UCITS ETF	1.30%	3.07%	14.72%	5.61%	2.41%	3.12%	0.51%	4.79%	7.62%	-2.85%

Different Trading Currencies

ZFH.TO is traded in CAD, while IS3K.DE is traded in EUR. To make them comparable, the IS3K.DE 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 -1.23% return, which is significantly lower than IS3K.DE's 1.30% return. Both investments have delivered pretty close results over the past 10 years, with ZFH.TO having a 5.30% annualized return and IS3K.DE not far behind at 5.15%.

ZFH.TO

• 1D: 0.61%
• 1M: -0.84%
• YTD: -1.23%
• 6M: -1.13%
• 1Y: 5.13%
• 3Y*: 8.82%
• 5Y*: 6.20%
• 10Y*: 5.30%

IS3K.DE

• 1D: -0.08%
• 1M: 0.81%
• YTD: 1.30%
• 6M: 0.23%
• 1Y: 2.61%
• 3Y*: 7.46%
• 5Y*: 6.01%
• 10Y*: 5.15%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ZFH.TO vs. IS3K.DE - Expense Ratio Comparison

ZFH.TO has a 0.40% expense ratio, which is lower than IS3K.DE's 0.45% expense ratio.

IS3K.DE

iShares USD Short Duration High Yield Corporate Bond UCITS ETF

ZFH.TO

BMO Floating Rate High Yield ETF

Return for Risk

ZFH.TO vs. IS3K.DE — 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: 43
ZFH.TO Sharpe Ratio Rank: 45
ZFH.TO Sortino Ratio Rank: 40
ZFH.TO Omega Ratio Rank: 48
ZFH.TO Calmar Ratio Rank: 40
ZFH.TO Martin Ratio Rank: 44

IS3K.DE

IS3K.DE Risk / Return Rank: 7
IS3K.DE Sharpe Ratio Rank: 8
IS3K.DE Sortino Ratio Rank: 7
IS3K.DE Omega Ratio Rank: 7
IS3K.DE Calmar Ratio Rank: 7
IS3K.DE Martin Ratio Rank: 7

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. IS3K.DE - 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 USD Short Duration High Yield Corporate Bond UCITS ETF (IS3K.DE). 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	IS3K.DE	Difference
Sharpe ratio Return per unit of total volatility	0.89	0.33	+0.56
Sortino ratio Return per unit of downside risk	1.21	0.46	+0.75
Omega ratio Gain probability vs. loss probability	1.20	1.07	+0.12
Calmar ratio Return relative to maximum drawdown	1.19	0.69	+0.49
Martin ratio Return relative to average drawdown	4.63	1.88	+2.75
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. IS3K.DE - Sharpe Ratio Comparison

The current ZFH.TO Sharpe Ratio is 0.89, which is higher than the IS3K.DE Sharpe Ratio of 0.33. The chart below compares the historical Sharpe Ratios of ZFH.TO and IS3K.DE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ZFH.TO	IS3K.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.89	0.33	+0.56
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.96	0.89	+0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.64	0.69	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	0.75	-0.14

Correlation

The correlation between ZFH.TO and IS3K.DE is 0.04, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

ZFH.TO vs. IS3K.DE - Dividend Comparison

ZFH.TO's dividend yield for the trailing twelve months is around 5.42%, less than IS3K.DE's 7.23% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ZFH.TO BMO Floating Rate High Yield ETF	5.42%	5.52%	7.72%	6.98%	4.75%	4.48%	4.51%	4.27%	4.45%	4.58%	4.64%	4.94%
IS3K.DE iShares USD Short Duration High Yield Corporate Bond UCITS ETF	7.23%	5.70%	5.95%	5.19%	4.12%	3.55%	4.31%	4.69%	4.78%	4.97%	5.17%	4.61%

Drawdowns

ZFH.TO vs. IS3K.DE - Drawdown Comparison

The maximum ZFH.TO drawdown since its inception was -20.98%, which is greater than IS3K.DE's maximum drawdown of -11.48%. Use the drawdown chart below to compare losses from any high point for ZFH.TO and IS3K.DE.

Drawdown Indicators

	ZFH.TO	IS3K.DE	Difference
Max Drawdown Largest peak-to-trough decline	-20.98%	-17.93%	-3.05%
Max Drawdown (1Y) Largest decline over 1 year	-4.26%	-6.92%	+2.66%
Max Drawdown (5Y) Largest decline over 5 years	-9.53%	-11.25%	+1.72%
Max Drawdown (10Y) Largest decline over 10 years	-20.98%	-17.93%	-3.05%
Current Drawdown Current decline from peak	-2.61%	-5.93%	+3.32%
Average Drawdown Average peak-to-trough decline	-1.82%	-4.49%	+2.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.09%	2.12%	-1.03%

Volatility

ZFH.TO vs. IS3K.DE - Volatility Comparison

The current volatility for BMO Floating Rate High Yield ETF (ZFH.TO) is 1.61%, while iShares USD Short Duration High Yield Corporate Bond UCITS ETF (IS3K.DE) has a volatility of 2.18%. This indicates that ZFH.TO experiences smaller price fluctuations and is considered to be less risky than IS3K.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZFH.TO	IS3K.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.61%	2.18%	-0.57%
Volatility (6M) Calculated over the trailing 6-month period	3.03%	4.03%	-1.00%
Volatility (1Y) Calculated over the trailing 1-year period	5.79%	7.84%	-2.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.46%	6.69%	-0.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.38%	7.37%	+1.01%