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ZJK.TO vs. XEQT.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ZJK.TO vs. XEQT.TO

Last updated Jul 18, 2026
Documentation

ZJK.TO (BMO High Yield US Corporate Bond Index ETF) and XEQT.TO (iShares Core Equity ETF Portfolio) are both exchange-traded funds - ZJK.TO is a High Yield Bonds fund managed by BMO, while XEQT.TO is a Global Equities fund actively managed by iShares. Over the past 5 years, ZJK.TO returned 5.76%/yr vs 13.27%/yr for XEQT.TO. At a 0.34 correlation, their price movements are largely independent.

Performance

ZJK.TO vs. XEQT.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO High Yield US Corporate Bond Index ETF (ZJK.TO) and iShares Core Equity ETF Portfolio (XEQT.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ZJK.TO achieves a 4.04% return, which is significantly lower than XEQT.TO's 12.57% return.

ZJK.TO

1D
-0.42%
1M
-0.41%
6M
1.82%
YTD
4.04%
1Y
7.72%
3Y*
10.20%
5Y*
5.76%
10Y*
—

XEQT.TO

1D
-0.85%
1M
-0.60%
6M
8.05%
YTD
12.57%
1Y
25.24%
3Y*
20.91%
5Y*
13.27%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

ZJK.TO vs. XEQT.TO - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
ZJK.TO
BMO High Yield US Corporate Bond Index ETF		4.04%3.22%16.76%10.33%-6.46%3.60%3.27%1.68%
XEQT.TO
iShares Core Equity ETF Portfolio		12.57%20.57%24.38%17.27%-10.99%18.98%11.85%8.56%

Correlation

The correlation between ZJK.TO and XEQT.TO is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.52

Correlation (3Y)
Calculated over the trailing 3-year period

0.47

Correlation (5Y)
Calculated over the trailing 5-year period

0.40

Correlation (All Time)
Calculated using the full available price history since Aug 14, 2019

0.34

The correlation between ZJK.TO and XEQT.TO shifts across timeframes, from 0.34 (all time) to 0.52 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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BMO High Yield US Corporate Bond Index ETF

iShares Core Equity ETF Portfolio

Often compared with ZJK.TO:
ZJK.TO vs. XFLI.TOZJK.TO vs. NHYB.TOZJK.TO vs. ZNQ.TOZJK.TO vs. CVD.TOZJK.TO vs. XHY.TOZJK.TO vs. XSI.TOZJK.TO vs. ZAG.TO
Often compared with XEQT.TO:
XEQT.TO vs. VFV.TOXEQT.TO vs. VEQT.TOXEQT.TO vs. XGRO.TOXEQT.TO vs. ZEQT.TOXEQT.TO vs. VGRO.TOXEQT.TO vs. VOOXEQT.TO vs. XEI.TO

Return for Risk

ZJK.TO vs. XEQT.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ZJK.TO
ZJK.TO Risk / Return Rank: 5252
Overall Rank
ZJK.TO Sharpe Ratio Rank: 5252
Sharpe Ratio Rank
ZJK.TO Sortino Ratio Rank: 5353
Sortino Ratio Rank
ZJK.TO Omega Ratio Rank: 5353
Omega Ratio Rank
ZJK.TO Calmar Ratio Rank: 5555
Calmar Ratio Rank
ZJK.TO Martin Ratio Rank: 4848
Martin Ratio Rank
XEQT.TO
XEQT.TO Risk / Return Rank: 8080
Overall Rank
XEQT.TO Sharpe Ratio Rank: 8080
Sharpe Ratio Rank
XEQT.TO Sortino Ratio Rank: 7979
Sortino Ratio Rank
XEQT.TO Omega Ratio Rank: 8080
Omega Ratio Rank
XEQT.TO Calmar Ratio Rank: 7575
Calmar Ratio Rank
XEQT.TO Martin Ratio Rank: 8383
Martin Ratio Rank
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.

ZJK.TO vs. XEQT.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 iShares Core Equity ETF Portfolio (XEQT.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.TOXEQT.TODifference
Sharpe ratioReturn per unit of total volatility
1.35
2.06

-0.71

Sortino ratioReturn per unit of downside risk
1.99
2.86

-0.87

Omega ratioGain probability vs. loss probability

1.25

1.38

-0.13

Calmar ratioReturn relative to maximum drawdown

2.10

3.07

-0.97

Martin ratioReturn relative to average drawdown

6.02

13.06

-7.04

ZJK.TO vs. XEQT.TO - Sharpe Ratio Comparison

The current ZJK.TO Sharpe Ratio is 1.35, which is lower than the XEQT.TO Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of ZJK.TO and XEQT.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

ZJK.TO vs. XEQT.TO - Drawdown Comparison

The maximum ZJK.TO drawdown since its inception was -19.40%, smaller than the maximum XEQT.TO drawdown of -29.74%. Use the drawdown chart below to compare losses from any high point for ZJK.TO and XEQT.TO.

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Drawdown Indicators

ZJK.TOXEQT.TODifference

Max Drawdown

Largest peak-to-trough decline

-19.40%

-29.74%

+10.34%

Max Drawdown (1Y)

Largest decline over 1 year

-3.69%

-8.25%

+4.56%

Max Drawdown (3Y)

Largest decline over 3 years

-7.69%

-15.08%

+7.39%

Max Drawdown (5Y)

Largest decline over 5 years

-14.93%

-19.55%

+4.62%

Current Drawdown

Current decline from peak

-1.75%

-2.35%

+0.60%

Average Drawdown

Average peak-to-trough decline

-2.64%

-4.05%

+1.41%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.29%

1.94%

-0.65%

Volatility

ZJK.TO vs. XEQT.TO - Volatility Comparison

The current volatility for BMO High Yield US Corporate Bond Index ETF (ZJK.TO) is 1.72%, while iShares Core Equity ETF Portfolio (XEQT.TO) has a volatility of 2.69%. This indicates that ZJK.TO experiences smaller price fluctuations and is considered to be less risky than XEQT.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.TOXEQT.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

1.72%

2.69%

-0.97%

Volatility (6M)

Calculated over the trailing 6-month period

4.53%

10.20%

-5.67%

Volatility (1Y)

Calculated over the trailing 1-year period

5.86%

12.31%

-6.45%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

7.81%

13.25%

-5.44%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

10.07%

15.51%

-5.44%

Dividends

ZJK.TO vs. XEQT.TO - Dividend Comparison

ZJK.TO's dividend yield for the trailing twelve months is around 6.26%, more than XEQT.TO's 1.62% yield.

PositionTTM202520242023202220212020201920182017
XEQT.TO
iShares Core Equity ETF Portfolio		1.62%1.66%2.03%2.09%2.14%1.66%1.69%1.21%0.00%0.00%
ZJK.TO
BMO High Yield US Corporate Bond Index ETF		6.26%5.97%5.59%6.15%6.37%5.60%5.94%6.32%5.45%0.88%

Frequently Asked Questions

ZJK.TO and XEQT.TO have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

ZJK.TO is categorized as High Yield Bonds, while XEQT.TO is Global Equities. They also come from different issuers: BMO and iShares.

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