ZFH.TO vs. XHYE

Last updated Jun 4, 2026

ZFH.TO (BMO Floating Rate High Yield ETF) and XHYE (BondBloxx US High Yield Energy Sector ETF) are both High Yield Bonds funds. ZFH.TO is actively managed, while XHYE is passively managed. Over the past 3 years, ZFH.TO returned 9.48%/yr vs 8.98%/yr for XHYE. At a 0.10 correlation, their price movements are largely independent. ZFH.TO charges 0.40%/yr vs 0.35%/yr for XHYE.

Performance

ZFH.TO vs. XHYE - 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 BondBloxx US High Yield Energy Sector ETF (XHYE). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

ZFH.TO is traded in CAD, while XHYE is traded in USD. To make them comparable, the XHYE 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 XHYE's 4.04% 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%

XHYE

• 1D: -0.43%
• 1M: 1.04%
• YTD: 4.04%
• 6M: 2.69%
• 1Y: 9.75%
• 3Y*: 8.98%
• 5Y*: —
• 10Y*: —

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

ZFH.TO vs. XHYE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
ZFH.TO BMO Floating Rate High Yield ETF	2.17%	5.53%	11.55%	13.55%	2.05%
XHYE BondBloxx US High Yield Energy Sector ETF	4.04%	1.83%	16.69%	9.03%	4.68%

Correlation

The correlation between ZFH.TO and XHYE is -0.02, 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	-0.02
Correlation (3Y) Calculated over the trailing 3-year period	0.12
Correlation (All Time) Calculated using the full available price history since Feb 18, 2022	0.10

The correlation between ZFH.TO and XHYE shifts across timeframes, from -0.02 (1 year) to 0.12 (3 years), reflecting how their relationship changes across market environments.

ZFH.TO vs. XHYE - Sectors Allocation Comparison

Sectors	ZFH.TO	XHYE
Real Estate	6.8%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	49.2%
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Technology	-	0.3%
Utilities	-	-

Return for Risk

ZFH.TO vs. XHYE — 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: 44
ZFH.TO Sortino Ratio Rank: 44
ZFH.TO Omega Ratio Rank: 47
ZFH.TO Calmar Ratio Rank: 38
ZFH.TO Martin Ratio Rank: 40

XHYE

XHYE Risk / Return Rank: 94
XHYE Sharpe Ratio Rank: 91
XHYE Sortino Ratio Rank: 95
XHYE Omega Ratio Rank: 94
XHYE Calmar Ratio Rank: 95
XHYE Martin Ratio Rank: 94

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. XHYE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO Floating Rate High Yield ETF (ZFH.TO) and BondBloxx US High Yield Energy Sector ETF (XHYE). 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	XHYE	Difference
Sharpe ratio: Return per unit of total volatility	1.54	1.94	-0.41
Sortino ratio: Return per unit of downside risk	2.23	2.72	-0.49
Omega ratio: Gain probability vs. loss probability	1.29	1.36	-0.07
Calmar ratio: Return relative to maximum drawdown	1.84	3.71	-1.87
Martin ratio: Return relative to average drawdown	6.33	11.65	-5.32
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. XHYE - Sharpe Ratio Comparison

The current ZFH.TO Sharpe Ratio is 1.54, which is comparable to the XHYE Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of ZFH.TO and XHYE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ZFH.TO	XHYE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.54	1.94	-0.41
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	1.16	-0.52

Drawdowns

ZFH.TO vs. XHYE - Drawdown Comparison

The maximum ZFH.TO drawdown since its inception was -20.98%, which is greater than XHYE's maximum drawdown of -9.62%. Use the drawdown chart below to compare losses from any high point for ZFH.TO and XHYE.

Drawdown Indicators

	ZFH.TO	XHYE	Difference
Max Drawdown Largest peak-to-trough decline	-20.98%	-9.62%	-11.36%
Max Drawdown (1Y) Largest decline over 1 year	-3.27%	-2.71%	-0.56%
Max Drawdown (3Y) Largest decline over 3 years	-6.40%	-9.62%	+3.22%
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%	-0.43%	+0.23%
Average Drawdown Average peak-to-trough decline	-1.80%	-1.60%	-0.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.95%	0.86%	+0.09%

Volatility

ZFH.TO vs. XHYE - Volatility Comparison

The current volatility for BMO Floating Rate High Yield ETF (ZFH.TO) is 0.96%, while BondBloxx US High Yield Energy Sector ETF (XHYE) has a volatility of 1.10%. This indicates that ZFH.TO experiences smaller price fluctuations and is considered to be less risky than XHYE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZFH.TO	XHYE	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.96%	1.10%	-0.14%
Volatility (6M) Calculated over the trailing 6-month period	3.01%	3.69%	-0.68%
Volatility (1Y) Calculated over the trailing 1-year period	3.92%	5.18%	-1.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.42%	7.25%	-0.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.33%	7.25%	+1.08%

ZFH.TO vs. XHYE - Expense Ratio Comparison

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

Dividends

ZFH.TO vs. XHYE - Dividend Comparison

ZFH.TO's dividend yield for the trailing twelve months is around 5.21%, less than XHYE's 5.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
XHYE BondBloxx US High Yield Energy Sector ETF	5.79%	6.55%	7.04%	6.46%	5.46%	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

Can I hold both ZFH.TO and XHYE in my portfolio?

ZFH.TO and XHYE have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ZFH.TO or XHYE?

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

Which ETF is cheaper, ZFH.TO or XHYE?

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

What is the main difference between ZFH.TO and XHYE?

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