ZJK.TO vs. CGHY.TO
ZJK.TO (BMO High Yield US Corporate Bond Index ETF) and CGHY.TO (CI High Yield Bond Private Pool ETF C$ Series) are both High Yield Bonds funds. Over the past 5 years, ZJK.TO returned 6.26%/yr vs 9.40%/yr for CGHY.TO. At a 0.08 correlation, their price movements are largely independent.
Performance
ZJK.TO vs. CGHY.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZJK.TO achieves a 5.30% return, which is significantly higher than CGHY.TO's 3.35% return.
ZJK.TO
- 1D
- -0.05%
- 1M
- 3.11%
- YTD
- 5.30%
- 6M
- 5.36%
- 1Y
- 10.21%
- 3Y*
- 10.73%
- 5Y*
- 6.26%
- 10Y*
- —
CGHY.TO
- 1D
- 0.00%
- 1M
- 1.28%
- YTD
- 3.35%
- 6M
- 3.45%
- 1Y
- 6.51%
- 3Y*
- 8.89%
- 5Y*
- 9.40%
- 10Y*
- 6.74%
ZJK.TO vs. CGHY.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ZJK.TO BMO High Yield US Corporate Bond Index ETF | 5.30% | 3.22% | 16.76% | 10.33% | -6.46% | 3.60% | 3.27% | 9.18% | 3.97% | 0.47% |
CGHY.TO CI High Yield Bond Private Pool ETF C$ Series | 3.35% | 6.19% | 9.66% | 13.41% | 13.50% | 2.47% | -1.13% | 10.73% | -2.45% | -0.04% |
Correlation
The correlation between ZJK.TO and CGHY.TO is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Oct 11, 2017 | 0.08 |
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Return for Risk
ZJK.TO vs. CGHY.TO — Risk / Return Rank
ZJK.TO
CGHY.TO
ZJK.TO vs. CGHY.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO High Yield US Corporate Bond Index ETF (ZJK.TO) and CI High Yield Bond Private Pool ETF C$ Series (CGHY.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.
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.
| ZJK.TO | CGHY.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.78 | ||
| Sortino ratioReturn per unit of downside risk | +1.22 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.18 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 2.78 | 3.00 | -0.22 |
| Martin ratioReturn relative to average drawdown | 8.05 | 9.44 | -1.39 |
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Drawdowns
ZJK.TO vs. CGHY.TO - Drawdown Comparison
The maximum ZJK.TO drawdown since its inception was -19.40%, smaller than the maximum CGHY.TO drawdown of -24.44%. Use the drawdown chart below to compare losses from any high point for ZJK.TO and CGHY.TO.
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Drawdown Indicators
| ZJK.TO | CGHY.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.40% | -24.44% | +5.04% |
Max Drawdown (1Y)Largest decline over 1 year | -3.69% | -2.18% | -1.51% |
Max Drawdown (3Y)Largest decline over 3 years | -7.69% | -4.92% | -2.77% |
Max Drawdown (5Y)Largest decline over 5 years | -14.93% | -9.81% | -5.12% |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.44% | — |
Current DrawdownCurrent decline from peak | -0.56% | 0.00% | -0.56% |
Average DrawdownAverage peak-to-trough decline | -2.65% | -2.04% | -0.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.27% | 0.69% | +0.58% |
Volatility
ZJK.TO vs. CGHY.TO - Volatility Comparison
The current volatility for BMO High Yield US Corporate Bond Index ETF (ZJK.TO) is 1.76%, while CI High Yield Bond Private Pool ETF C$ Series (CGHY.TO) has a volatility of 2.94%. This indicates that ZJK.TO experiences smaller price fluctuations and is considered to be less risky than CGHY.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZJK.TO | CGHY.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.76% | 2.94% | -1.18% |
Volatility (6M)Calculated over the trailing 6-month period | 4.52% | 5.77% | -1.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.93% | 6.85% | -0.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.82% | 14.56% | -6.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.09% | 12.96% | -2.87% |
Dividends
ZJK.TO vs. CGHY.TO - Dividend Comparison
ZJK.TO's dividend yield for the trailing twelve months is around 6.18%, more than CGHY.TO's 5.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CGHY.TO CI High Yield Bond Private Pool ETF C$ Series | 5.02% | 5.40% | 4.99% | 5.14% | 5.08% | 6.32% | 6.08% | 5.65% | 5.91% | 5.45% | 5.57% | 4.73% |
ZJK.TO BMO High Yield US Corporate Bond Index ETF | 6.18% | 5.97% | 5.59% | 6.15% | 6.37% | 5.60% | 5.94% | 6.32% | 5.45% | 0.88% | 0.00% | 0.00% |
Frequently Asked Questions
ZJK.TO and CGHY.TO have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: BMO and CI Global Asset Management.
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