ZQB.TO vs. FCSB.NEO
ZQB.TO (BMO High Quality Corporate Bond Index ETF) and FCSB.NEO (Fidelity Canadian Short Term Corporate Bond ETF) are both Corporate Bonds funds. Over the past 5 years, ZQB.TO returned 2.46%/yr vs 3.05%/yr for FCSB.NEO. At a 0.22 correlation, their price movements are largely independent.
Performance
ZQB.TO vs. FCSB.NEO - Performance Comparison
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Returns By Period
In the year-to-date period, ZQB.TO achieves a 1.59% return, which is significantly lower than FCSB.NEO's 1.77% return.
ZQB.TO
- 1D
- -0.17%
- 1M
- 0.26%
- YTD
- 1.59%
- 6M
- 1.56%
- 1Y
- 3.80%
- 3Y*
- 6.05%
- 5Y*
- 2.46%
- 10Y*
- —
FCSB.NEO
- 1D
- 0.20%
- 1M
- 0.43%
- YTD
- 1.77%
- 6M
- 1.49%
- 1Y
- 3.86%
- 3Y*
- 6.08%
- 5Y*
- 3.05%
- 10Y*
- —
ZQB.TO vs. FCSB.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
ZQB.TO BMO High Quality Corporate Bond Index ETF | 1.59% | 4.80% | 6.78% | 6.49% | -5.39% | -2.02% | 5.33% |
FCSB.NEO Fidelity Canadian Short Term Corporate Bond ETF | 1.77% | 4.15% | 7.55% | 6.81% | -4.22% | -0.81% | 5.28% |
Correlation
The correlation between ZQB.TO and FCSB.NEO is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Feb 12, 2020 | 0.22 |
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Return for Risk
ZQB.TO vs. FCSB.NEO — Risk / Return Rank
ZQB.TO
FCSB.NEO
ZQB.TO vs. FCSB.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO High Quality Corporate Bond Index ETF (ZQB.TO) and Fidelity Canadian Short Term Corporate Bond ETF (FCSB.NEO). 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.
| ZQB.TO | FCSB.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.33 | ||
| Sortino ratioReturn per unit of downside risk | +0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.26 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.13 | 2.45 | -0.32 |
| Martin ratioReturn relative to average drawdown | 7.54 | 9.00 | -1.46 |
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Drawdowns
ZQB.TO vs. FCSB.NEO - Drawdown Comparison
The maximum ZQB.TO drawdown since its inception was -10.18%, smaller than the maximum FCSB.NEO drawdown of -12.48%. Use the drawdown chart below to compare losses from any high point for ZQB.TO and FCSB.NEO.
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Drawdown Indicators
| ZQB.TO | FCSB.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.18% | -12.48% | +2.30% |
Max Drawdown (1Y)Largest decline over 1 year | -1.79% | -1.58% | -0.21% |
Max Drawdown (3Y)Largest decline over 3 years | -1.79% | -1.58% | -0.21% |
Max Drawdown (5Y)Largest decline over 5 years | -9.64% | -7.44% | -2.20% |
Current DrawdownCurrent decline from peak | -0.17% | -0.23% | +0.06% |
Average DrawdownAverage peak-to-trough decline | -2.34% | -1.49% | -0.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.51% | 0.43% | +0.08% |
Volatility
ZQB.TO vs. FCSB.NEO - Volatility Comparison
The current volatility for BMO High Quality Corporate Bond Index ETF (ZQB.TO) is 0.70%, while Fidelity Canadian Short Term Corporate Bond ETF (FCSB.NEO) has a volatility of 0.96%. This indicates that ZQB.TO experiences smaller price fluctuations and is considered to be less risky than FCSB.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZQB.TO | FCSB.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.70% | 0.96% | -0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 1.79% | 2.18% | -0.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.21% | 2.78% | -0.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.51% | 3.32% | +0.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.18% | 4.94% | -0.76% |
Dividends
ZQB.TO vs. FCSB.NEO - Dividend Comparison
ZQB.TO's dividend yield for the trailing twelve months is around 3.92%, more than FCSB.NEO's 3.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
FCSB.NEO Fidelity Canadian Short Term Corporate Bond ETF | 3.80% | 3.73% | 3.59% | 3.06% | 2.09% | 1.58% | 2.34% | 0.38% |
ZQB.TO BMO High Quality Corporate Bond Index ETF | 3.92% | 3.67% | 3.39% | 3.00% | 2.80% | 2.58% | 2.46% | 0.00% |
Frequently Asked Questions
ZQB.TO and FCSB.NEO have a correlation of 0.29, 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 Fidelity.
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