ZHOG vs. CPHY
ZHOG (F/m Opportunistic Income ETF) and CPHY (F/m Compoundr High Yield Bond ETF) are both exchange-traded funds - ZHOG is a Intermediate Core-Plus Bond fund actively managed by F/m Investments, while CPHY is a High Yield Bonds fund tracking the Nasdaq Compoundr U.S. High Yield Bond Index. ZHOG is actively managed, while CPHY is passively managed. A 0.65 correlation means they provide meaningful diversification when combined. ZHOG charges 0.43%/yr vs 0.35%/yr for CPHY.
Performance
ZHOG vs. CPHY - Performance Comparison
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Returns By Period
In the year-to-date period, ZHOG achieves a 0.77% return, which is significantly higher than CPHY's 0.25% return.
ZHOG
- 1D
- -0.05%
- 1M
- 0.18%
- YTD
- 0.77%
- 6M
- 1.11%
- 1Y
- 5.54%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CPHY
- 1D
- -0.18%
- 1M
- 0.31%
- YTD
- 0.25%
- 6M
- 0.62%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZHOG vs. CPHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ZHOG F/m Opportunistic Income ETF | 0.77% | 2.59% |
CPHY F/m Compoundr High Yield Bond ETF | 0.25% | 2.31% |
Correlation
The correlation between ZHOG and CPHY is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 13, 2025 | 0.65 |
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Return for Risk
ZHOG vs. CPHY — Risk / Return Rank
ZHOG
CPHY
ZHOG vs. CPHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for F/m Opportunistic Income ETF (ZHOG) and F/m Compoundr High Yield Bond ETF (CPHY). 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.
| ZHOG | CPHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.72 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 4.25 | — | — |
| Martin ratioReturn relative to average drawdown | 18.40 | — | — |
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
| ZHOG | CPHY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.50 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.62 | 0.89 | +0.73 |
Drawdowns
ZHOG vs. CPHY - Drawdown Comparison
The maximum ZHOG drawdown since its inception was -3.66%, which is greater than CPHY's maximum drawdown of -2.51%. Use the drawdown chart below to compare losses from any high point for ZHOG and CPHY.
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Drawdown Indicators
| ZHOG | CPHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.66% | -2.51% | -1.15% |
Max Drawdown (1Y)Largest decline over 1 year | -1.31% | — | — |
Current DrawdownCurrent decline from peak | -0.08% | -0.74% | +0.66% |
Average DrawdownAverage peak-to-trough decline | -0.70% | -0.56% | -0.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.30% | — | — |
Volatility
ZHOG vs. CPHY - Volatility Comparison
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Volatility by Period
| ZHOG | CPHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.45% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 1.14% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 1.59% | 3.59% | -2.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.01% | 3.59% | +0.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.01% | 3.59% | +0.42% |
ZHOG vs. CPHY - Expense Ratio Comparison
ZHOG has a 0.43% expense ratio, which is higher than CPHY's 0.35% expense ratio.
Dividends
ZHOG vs. CPHY - Dividend Comparison
ZHOG's dividend yield for the trailing twelve months is around 5.11%, while CPHY has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
CPHY F/m Compoundr High Yield Bond ETF | 0.00% | 0.00% | 0.00% | 0.00% |
ZHOG F/m Opportunistic Income ETF | 5.11% | 5.35% | 5.50% | 1.70% |
Frequently Asked Questions
ZHOG and CPHY have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CPHY is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CPHY is cheaper with a 0.35% expense ratio, compared with 0.43% for ZHOG.
ZHOG has the higher dividend yield at 5.11%, compared with 0.00% for CPHY.
ZHOG is categorized as Intermediate Core-Plus Bond, while CPHY is High Yield Bonds. Their fees differ too: 0.43% for ZHOG and 0.35% for CPHY.
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