ZQB.TO vs. MFT.TO
ZQB.TO (BMO High Quality Corporate Bond Index ETF) and MFT.TO (Mackenzie Floating Rate Income ETF) are both Corporate Bonds funds. Over the past 5 years, ZQB.TO returned 2.53%/yr vs 3.75%/yr for MFT.TO. At a 0.03 correlation, their price movements are largely independent.
Performance
ZQB.TO vs. MFT.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZQB.TO achieves a 1.35% return, which is significantly lower than MFT.TO's 2.72% return.
ZQB.TO
- 1D
- 0.00%
- 1M
- -0.26%
- 6M
- 1.07%
- YTD
- 1.35%
- 1Y
- 3.90%
- 3Y*
- 5.91%
- 5Y*
- 2.53%
- 10Y*
- —
MFT.TO
- 1D
- 0.19%
- 1M
- 0.67%
- 6M
- 2.46%
- YTD
- 2.72%
- 1Y
- 2.87%
- 3Y*
- 5.42%
- 5Y*
- 3.75%
- 10Y*
- 4.43%
ZQB.TO vs. MFT.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
ZQB.TO BMO High Quality Corporate Bond Index ETF | 1.35% | 4.80% | 6.78% | 6.49% | -5.39% | -2.02% | 5.33% |
MFT.TO Mackenzie Floating Rate Income ETF | 2.72% | 0.81% | 8.84% | 11.99% | -6.31% | 5.56% | -0.78% |
Correlation
The correlation between ZQB.TO and MFT.TO is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Feb 12, 2020 | 0.03 |
The correlation between ZQB.TO and MFT.TO shifts across timeframes, from -0.11 (1 year) to 0.04 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
ZQB.TO vs. MFT.TO — Risk / Return Rank
ZQB.TO
MFT.TO
ZQB.TO vs. MFT.TO - 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 Mackenzie Floating Rate Income ETF (MFT.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.
| ZQB.TO | MFT.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.67 | ||
| Sortino ratioReturn per unit of downside risk | +0.91 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.20 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 2.19 | 2.17 | +0.01 |
| Martin ratioReturn relative to average drawdown | 7.69 | 5.19 | +2.50 |
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Drawdowns
ZQB.TO vs. MFT.TO - Drawdown Comparison
The maximum ZQB.TO drawdown since its inception was -10.18%, smaller than the maximum MFT.TO drawdown of -20.87%. Use the drawdown chart below to compare losses from any high point for ZQB.TO and MFT.TO.
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Drawdown Indicators
| ZQB.TO | MFT.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.18% | -20.87% | +10.69% |
Max Drawdown (1Y)Largest decline over 1 year | -1.79% | -1.33% | -0.46% |
Max Drawdown (3Y)Largest decline over 3 years | -1.79% | -3.40% | +1.61% |
Max Drawdown (5Y)Largest decline over 5 years | -9.64% | -7.45% | -2.19% |
Max Drawdown (10Y)Largest decline over 10 years | — | -20.87% | — |
Current DrawdownCurrent decline from peak | -0.45% | 0.00% | -0.45% |
Average DrawdownAverage peak-to-trough decline | -2.33% | -1.38% | -0.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.51% | 0.55% | -0.04% |
Volatility
ZQB.TO vs. MFT.TO - Volatility Comparison
The current volatility for BMO High Quality Corporate Bond Index ETF (ZQB.TO) is 0.68%, while Mackenzie Floating Rate Income ETF (MFT.TO) has a volatility of 0.79%. This indicates that ZQB.TO experiences smaller price fluctuations and is considered to be less risky than MFT.TO 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 | MFT.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.68% | 0.79% | -0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 1.80% | 1.80% | 0.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.20% | 2.58% | -0.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.50% | 3.71% | -0.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.17% | 5.10% | -0.93% |
Dividends
ZQB.TO vs. MFT.TO - Dividend Comparison
ZQB.TO's dividend yield for the trailing twelve months is around 3.93%, less than MFT.TO's 8.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
MFT.TO Mackenzie Floating Rate Income ETF | 8.28% | 8.57% | 9.44% | 10.40% | 6.26% | 3.89% | 6.18% | 6.97% | 6.14% | 4.84% | 3.94% |
ZQB.TO BMO High Quality Corporate Bond Index ETF | 3.93% | 3.67% | 3.39% | 3.00% | 2.80% | 2.58% | 2.46% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZQB.TO and MFT.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 Mackenzie.
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