ZFL.TO vs. XSE.TO
Compare and contrast key facts about BMO Long Federal Bond (ZFL.TO) and iShares Conservative Strategic Fixed Income ETF (XSE.TO).
ZFL.TO and XSE.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZFL.TO is a passively managed fund by BMO that tracks the performance of the FTSE TMX Canada Long Term Federal Bond Index. It was launched on May 19, 2010. XSE.TO is an actively managed fund by iShares. It was launched on Sep 1, 2015.
Performance
ZFL.TO vs. XSE.TO - Performance Comparison
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ZFL.TO vs. XSE.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ZFL.TO BMO Long Federal Bond | 0.34% | -5.14% | -2.20% | 7.30% | -23.89% | -7.47% | 12.68% | 8.73% | 2.69% | 2.84% |
XSE.TO iShares Conservative Strategic Fixed Income ETF | -0.29% | 2.95% | 3.11% | 6.75% | -11.99% | -2.79% | 7.95% | 8.26% | -0.52% | 4.13% |
Returns By Period
In the year-to-date period, ZFL.TO achieves a 0.34% return, which is significantly higher than XSE.TO's -0.29% return. Over the past 10 years, ZFL.TO has underperformed XSE.TO with an annualized return of -1.28%, while XSE.TO has yielded a comparatively higher 1.96% annualized return.
ZFL.TO
- 1D
- 0.08%
- 1M
- -4.10%
- YTD
- 0.34%
- 6M
- -2.68%
- 1Y
- -7.31%
- 3Y*
- -1.69%
- 5Y*
- -4.29%
- 10Y*
- -1.28%
XSE.TO
- 1D
- 0.23%
- 1M
- -1.83%
- YTD
- -0.29%
- 6M
- -0.43%
- 1Y
- 1.02%
- 3Y*
- 3.21%
- 5Y*
- 0.30%
- 10Y*
- 1.96%
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ZFL.TO vs. XSE.TO - Expense Ratio Comparison
ZFL.TO has a 0.22% expense ratio, which is lower than XSE.TO's 0.55% expense ratio.
Return for Risk
ZFL.TO vs. XSE.TO — Risk / Return Rank
ZFL.TO
XSE.TO
ZFL.TO vs. XSE.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Long Federal Bond (ZFL.TO) and iShares Conservative Strategic Fixed Income ETF (XSE.TO). 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.
| ZFL.TO | XSE.TO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.69 | 0.25 | -0.94 |
Sortino ratioReturn per unit of downside risk | -0.85 | 0.37 | -1.22 |
Omega ratioGain probability vs. loss probability | 0.90 | 1.05 | -0.15 |
Calmar ratioReturn relative to maximum drawdown | -0.63 | 0.43 | -1.06 |
Martin ratioReturn relative to average drawdown | -0.97 | 1.15 | -2.12 |
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
| ZFL.TO | XSE.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.69 | 0.25 | -0.94 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.29 | 0.05 | -0.35 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.10 | 0.22 | -0.32 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.15 | 0.23 | -0.08 |
Correlation
The correlation between ZFL.TO and XSE.TO is 0.71, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
ZFL.TO vs. XSE.TO - Dividend Comparison
ZFL.TO's dividend yield for the trailing twelve months is around 2.99%, less than XSE.TO's 4.30% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ZFL.TO BMO Long Federal Bond | 2.99% | 3.13% | 3.20% | 3.49% | 3.77% | 2.85% | 2.57% | 2.95% | 3.00% | 2.99% | 3.05% | 3.10% |
XSE.TO iShares Conservative Strategic Fixed Income ETF | 4.30% | 4.24% | 3.65% | 3.36% | 2.67% | 2.63% | 2.62% | 2.82% | 2.89% | 3.62% | 3.95% | 1.39% |
Drawdowns
ZFL.TO vs. XSE.TO - Drawdown Comparison
The maximum ZFL.TO drawdown since its inception was -40.32%, which is greater than XSE.TO's maximum drawdown of -22.43%. Use the drawdown chart below to compare losses from any high point for ZFL.TO and XSE.TO.
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Drawdown Indicators
| ZFL.TO | XSE.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.32% | -22.43% | -17.89% |
Max Drawdown (1Y)Largest decline over 1 year | -10.39% | -2.87% | -7.52% |
Max Drawdown (5Y)Largest decline over 5 years | -32.25% | -15.91% | -16.34% |
Max Drawdown (10Y)Largest decline over 10 years | -40.32% | -22.43% | -17.89% |
Current DrawdownCurrent decline from peak | -33.24% | -3.55% | -29.69% |
Average DrawdownAverage peak-to-trough decline | -12.23% | -4.82% | -7.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.76% | 1.08% | +5.68% |
Volatility
ZFL.TO vs. XSE.TO - Volatility Comparison
BMO Long Federal Bond (ZFL.TO) has a higher volatility of 3.88% compared to iShares Conservative Strategic Fixed Income ETF (XSE.TO) at 1.54%. This indicates that ZFL.TO's price experiences larger fluctuations and is considered to be riskier than XSE.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZFL.TO | XSE.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.88% | 1.54% | +2.34% |
Volatility (6M)Calculated over the trailing 6-month period | 6.66% | 2.31% | +4.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.73% | 4.02% | +6.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.69% | 5.56% | +9.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.52% | 9.01% | +3.51% |