ZQB.TO vs. XHB.TO
ZQB.TO (BMO High Quality Corporate Bond Index ETF) and XHB.TO (iShares Canadian HYBrid Corporate Bond Index ETF) are both Corporate Bonds funds. Over the past 5 years, ZQB.TO returned 2.46%/yr vs 3.16%/yr for XHB.TO. At a 0.31 correlation, their price movements are largely independent.
Performance
ZQB.TO vs. XHB.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ZQB.TO achieves a 1.59% return, which is significantly lower than XHB.TO's 2.51% 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*
- —
XHB.TO
- 1D
- 0.15%
- 1M
- 0.68%
- YTD
- 2.51%
- 6M
- 2.41%
- 1Y
- 5.22%
- 3Y*
- 7.36%
- 5Y*
- 3.16%
- 10Y*
- 3.91%
ZQB.TO vs. XHB.TO - 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% |
XHB.TO iShares Canadian HYBrid Corporate Bond Index ETF | 2.51% | 5.34% | 8.02% | 10.06% | -9.67% | 0.02% | 6.08% |
Correlation
The correlation between ZQB.TO and XHB.TO is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Feb 12, 2020 | 0.31 |
Over the past year, ZQB.TO and XHB.TO have become more correlated (0.54) than their long-term average of 0.31, meaning their price movements have been converging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ZQB.TO vs. XHB.TO — Risk / Return Rank
ZQB.TO
XHB.TO
ZQB.TO vs. XHB.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 iShares Canadian HYBrid Corporate Bond Index ETF (XHB.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 | XHB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.14 | ||
| Sortino ratioReturn per unit of downside risk | +0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.29 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.13 | 2.17 | -0.04 |
| Martin ratioReturn relative to average drawdown | 7.54 | 7.20 | +0.33 |
Loading charts...
Drawdowns
ZQB.TO vs. XHB.TO - Drawdown Comparison
The maximum ZQB.TO drawdown since its inception was -10.18%, smaller than the maximum XHB.TO drawdown of -26.50%. Use the drawdown chart below to compare losses from any high point for ZQB.TO and XHB.TO.
Loading charts...
Drawdown Indicators
| ZQB.TO | XHB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.18% | -26.50% | +16.32% |
Max Drawdown (1Y)Largest decline over 1 year | -1.79% | -2.42% | +0.63% |
Max Drawdown (3Y)Largest decline over 3 years | -1.79% | -3.18% | +1.39% |
Max Drawdown (5Y)Largest decline over 5 years | -9.64% | -13.94% | +4.30% |
Max Drawdown (10Y)Largest decline over 10 years | — | -26.50% | — |
Current DrawdownCurrent decline from peak | -0.17% | 0.00% | -0.17% |
Average DrawdownAverage peak-to-trough decline | -2.34% | -2.08% | -0.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.51% | 0.73% | -0.22% |
Volatility
ZQB.TO vs. XHB.TO - Volatility Comparison
The current volatility for BMO High Quality Corporate Bond Index ETF (ZQB.TO) is 0.70%, while iShares Canadian HYBrid Corporate Bond Index ETF (XHB.TO) has a volatility of 0.95%. This indicates that ZQB.TO experiences smaller price fluctuations and is considered to be less risky than XHB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ZQB.TO | XHB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.70% | 0.95% | -0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 1.79% | 2.66% | -0.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.21% | 3.32% | -1.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.51% | 5.55% | -2.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.18% | 11.03% | -6.85% |
Dividends
ZQB.TO vs. XHB.TO - Dividend Comparison
ZQB.TO's dividend yield for the trailing twelve months is around 3.92%, less than XHB.TO's 4.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XHB.TO iShares Canadian HYBrid Corporate Bond Index ETF | 4.53% | 4.48% | 4.36% | 4.23% | 4.24% | 3.51% | 3.53% | 3.81% | 4.07% | 4.08% | 4.35% | 4.78% |
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% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZQB.TO and XHB.TO have a correlation of 0.54, 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.
Find the right allocation for ZQB.TO and XHB.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer