ZJK.TO vs. XFLI.TO
ZJK.TO (BMO High Yield US Corporate Bond Index ETF) and XFLI.TO (iShares Flexible Monthly Income ETF CAD) are both High Yield Bonds funds. Over the past year, ZJK.TO returned 8.47% vs 7.20% for XFLI.TO. A 0.61 correlation means they provide meaningful diversification when combined.
Performance
ZJK.TO vs. XFLI.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZJK.TO achieves a 4.42% return, which is significantly higher than XFLI.TO's 3.42% return.
ZJK.TO
- 1D
- 0.05%
- 1M
- 0.37%
- 6M
- 2.62%
- YTD
- 4.42%
- 1Y
- 8.47%
- 3Y*
- 10.46%
- 5Y*
- 5.84%
- 10Y*
- —
XFLI.TO
- 1D
- 0.15%
- 1M
- 0.49%
- 6M
- 1.77%
- YTD
- 3.42%
- 1Y
- 7.20%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZJK.TO vs. XFLI.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ZJK.TO BMO High Yield US Corporate Bond Index ETF | 4.42% | 3.22% | 6.72% |
XFLI.TO iShares Flexible Monthly Income ETF CAD | 3.42% | 2.07% | 6.23% |
Correlation
The correlation between ZJK.TO and XFLI.TO is 0.69, 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 | 0.69 |
Correlation (All Time) Calculated using the full available price history since Sep 26, 2024 | 0.62 |
The correlation between ZJK.TO and XFLI.TO has been stable across timeframes, ranging from 0.61 to 0.69 - a consistent structural relationship.
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Return for Risk
ZJK.TO vs. XFLI.TO — Risk / Return Rank
ZJK.TO
XFLI.TO
ZJK.TO vs. XFLI.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 Flexible Monthly Income ETF CAD (XFLI.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 | XFLI.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.26 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.30 | 1.74 | +0.56 |
| Martin ratioReturn relative to average drawdown | 6.64 | 3.73 | +2.91 |
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Drawdowns
ZJK.TO vs. XFLI.TO - Drawdown Comparison
The maximum ZJK.TO drawdown since its inception was -19.40%, which is greater than XFLI.TO's maximum drawdown of -6.92%. Use the drawdown chart below to compare losses from any high point for ZJK.TO and XFLI.TO.
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Drawdown Indicators
| ZJK.TO | XFLI.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.40% | -6.92% | -12.48% |
Max Drawdown (1Y)Largest decline over 1 year | -3.69% | -4.15% | +0.46% |
Max Drawdown (3Y)Largest decline over 3 years | -7.69% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -14.93% | — | — |
Current DrawdownCurrent decline from peak | -1.39% | -1.86% | +0.47% |
Average DrawdownAverage peak-to-trough decline | -2.64% | -2.05% | -0.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.28% | 1.94% | -0.66% |
Volatility
ZJK.TO vs. XFLI.TO - Volatility Comparison
The current volatility for BMO High Yield US Corporate Bond Index ETF (ZJK.TO) is 1.79%, while iShares Flexible Monthly Income ETF CAD (XFLI.TO) has a volatility of 2.34%. This indicates that ZJK.TO experiences smaller price fluctuations and is considered to be less risky than XFLI.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 | XFLI.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.79% | 2.34% | -0.55% |
Volatility (6M)Calculated over the trailing 6-month period | 4.53% | 4.50% | +0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.91% | 5.61% | +0.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.81% | 6.34% | +1.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.07% | 6.34% | +3.73% |
Dividends
ZJK.TO vs. XFLI.TO - Dividend Comparison
ZJK.TO's dividend yield for the trailing twelve months is around 6.24%, more than XFLI.TO's 5.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
XFLI.TO iShares Flexible Monthly Income ETF CAD | 5.43% | 5.69% | 2.07% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZJK.TO BMO High Yield US Corporate Bond Index ETF | 6.24% | 5.97% | 5.59% | 6.15% | 6.37% | 5.60% | 5.94% | 6.32% | 5.45% | 0.88% |
Frequently Asked Questions
ZJK.TO and XFLI.TO have a correlation of 0.69, 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 iShares.
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