ZFH.TO vs. MHY
ZFH.TO (BMO Floating Rate High Yield ETF) and MHY (Man Active High Yield ETF) are both High Yield Bonds funds. Both are actively managed. At a correlation of -0.05, they often move in opposite directions. ZFH.TO charges 0.40%/yr vs 0.69%/yr for MHY.
Performance
ZFH.TO vs. MHY - Performance Comparison
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Different Trading Currencies
ZFH.TO is traded in CAD, while MHY is traded in USD. To make them comparable, the MHY 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 MHY's 8.63% 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%
MHY
- 1D
- -0.03%
- 1M
- 3.05%
- 6M
- 6.50%
- YTD
- 8.63%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZFH.TO vs. MHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ZFH.TO BMO Floating Rate High Yield ETF | 2.58% | 0.44% |
MHY Man Active High Yield ETF | 8.63% | 0.99% |
Correlation
The correlation between ZFH.TO and MHY is -0.05, 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 (All Time) Calculated using the full available price history since Sep 18, 2025 | -0.05 |
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Return for Risk
ZFH.TO vs. MHY — Risk / Return Rank
ZFH.TO
MHY
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
ZFH.TO vs. MHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Floating Rate High Yield ETF (ZFH.TO) and Man Active High Yield ETF (MHY). 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 | MHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.24 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.40 | — | — |
| Martin ratioReturn relative to average drawdown | 4.84 | — | — |
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Drawdowns
ZFH.TO vs. MHY - Drawdown Comparison
The maximum ZFH.TO drawdown since its inception was -21.41%, which is greater than MHY's maximum drawdown of -2.88%. Use the drawdown chart below to compare losses from any high point for ZFH.TO and MHY.
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Drawdown Indicators
| ZFH.TO | MHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.41% | -2.88% | -18.53% |
Max Drawdown (1Y)Largest decline over 1 year | -3.27% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -6.39% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -9.75% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -21.41% | — | — |
Current DrawdownCurrent decline from peak | -0.26% | -0.45% | +0.19% |
Average DrawdownAverage peak-to-trough decline | -2.05% | -0.84% | -1.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | — | — |
Volatility
ZFH.TO vs. MHY - Volatility Comparison
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Volatility by Period
| ZFH.TO | MHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.57% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.78% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.74% | 5.16% | -1.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.11% | 5.16% | +2.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.43% | 5.16% | +4.27% |
ZFH.TO vs. MHY - Expense Ratio Comparison
ZFH.TO has a 0.40% expense ratio, which is lower than MHY's 0.69% expense ratio.
Dividends
ZFH.TO vs. MHY - Dividend Comparison
ZFH.TO's dividend yield for the trailing twelve months is around 5.17%, less than MHY's 5.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MHY Man Active High Yield ETF | 5.25% | 3.42% | 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 | 5.17% | 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 MHY have a correlation of -0.05, 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 0.69% for MHY.
They also come from different issuers: BMO and Man Group. Their fees differ too: 0.40% for ZFH.TO and 0.69% for MHY.
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