ZJK.TO vs. NHYB.TO
ZJK.TO (BMO High Yield US Corporate Bond Index ETF) and NHYB.TO (NBI High Yield Bond ETF) are both High Yield Bonds funds. Over the past 5 years, ZJK.TO returned 6.26%/yr vs 3.13%/yr for NHYB.TO. At a 0.19 correlation, their price movements are largely independent.
Performance
ZJK.TO vs. NHYB.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 NHYB.TO's 0.89% 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*
- —
NHYB.TO
- 1D
- 0.37%
- 1M
- 0.05%
- YTD
- 0.89%
- 6M
- 0.47%
- 1Y
- 3.39%
- 3Y*
- 7.76%
- 5Y*
- 3.13%
- 10Y*
- —
ZJK.TO vs. NHYB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
ZJK.TO BMO High Yield US Corporate Bond Index ETF | 5.30% | 3.22% | 16.76% | 10.33% | -6.46% | 3.60% | 1.51% |
NHYB.TO NBI High Yield Bond ETF | 0.89% | 7.23% | 7.06% | 11.11% | -10.25% | 4.98% | 1.37% |
Correlation
The correlation between ZJK.TO and NHYB.TO is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Mar 4, 2020 | 0.19 |
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Return for Risk
ZJK.TO vs. NHYB.TO — Risk / Return Rank
ZJK.TO
NHYB.TO
ZJK.TO vs. NHYB.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 NBI High Yield Bond ETF (NHYB.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 | NHYB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.10 | ||
| Sortino ratioReturn per unit of downside risk | +1.57 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.12 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 2.78 | 1.40 | +1.38 |
| Martin ratioReturn relative to average drawdown | 8.05 | 4.94 | +3.11 |
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Drawdowns
ZJK.TO vs. NHYB.TO - Drawdown Comparison
The maximum ZJK.TO drawdown since its inception was -19.40%, smaller than the maximum NHYB.TO drawdown of -21.70%. Use the drawdown chart below to compare losses from any high point for ZJK.TO and NHYB.TO.
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Drawdown Indicators
| ZJK.TO | NHYB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.40% | -21.70% | +2.30% |
Max Drawdown (1Y)Largest decline over 1 year | -3.69% | -2.42% | -1.27% |
Max Drawdown (3Y)Largest decline over 3 years | -7.69% | -3.80% | -3.89% |
Max Drawdown (5Y)Largest decline over 5 years | -14.93% | -14.85% | -0.08% |
Current DrawdownCurrent decline from peak | -0.56% | 0.00% | -0.56% |
Average DrawdownAverage peak-to-trough decline | -2.65% | -3.81% | +1.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.27% | 0.69% | +0.58% |
Volatility
ZJK.TO vs. NHYB.TO - Volatility Comparison
BMO High Yield US Corporate Bond Index ETF (ZJK.TO) has a higher volatility of 1.76% compared to NBI High Yield Bond ETF (NHYB.TO) at 1.01%. This indicates that ZJK.TO's price experiences larger fluctuations and is considered to be riskier than NHYB.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 | NHYB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.76% | 1.01% | +0.75% |
Volatility (6M)Calculated over the trailing 6-month period | 4.52% | 3.72% | +0.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.93% | 5.40% | +0.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.82% | 8.31% | -0.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.09% | 11.89% | -1.80% |
Dividends
ZJK.TO vs. NHYB.TO - Dividend Comparison
ZJK.TO's dividend yield for the trailing twelve months is around 6.18%, more than NHYB.TO's 5.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
NHYB.TO NBI High Yield Bond ETF | 5.50% | 5.52% | 5.65% | 6.06% | 6.23% | 5.80% | 3.55% | 0.00% | 0.00% | 0.00% |
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% |
Frequently Asked Questions
ZJK.TO and NHYB.TO have a correlation of 0.12, 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 National Bank Investments.
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