ZTEN vs. ZHOG

Last updated Aug 5, 2026

ZTEN (F/M 10-Year Investment Grade Corporate Bond ETF) and ZHOG (F/m Opportunistic Income ETF) are both exchange-traded funds - ZTEN is a Long-Term Bond fund tracking the ICE 10-Year US Target Maturity Corporate Index - Benchmark TR Gross, while ZHOG is a Intermediate Core-Plus Bond fund actively managed by F/m. ZTEN is passively managed, while ZHOG is actively managed. Over the past year, ZTEN returned 3.15% vs 3.86% for ZHOG. Their correlation of 0.82 means they have usually moved in the same direction. ZTEN charges 0.15%/yr vs 0.43%/yr for ZHOG.

Performance

ZTEN vs. ZHOG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in F/M 10-Year Investment Grade Corporate Bond ETF (ZTEN) and F/m Opportunistic Income ETF (ZHOG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ZTEN achieves a 0.08% return, which is significantly lower than ZHOG's 1.16% return.

ZTEN

• 1D: 0.60%
• 1M: -0.73%
• 6M: 0.06%
• YTD: 0.08%
• 1Y: 3.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.79%

ZHOG

• 1D: 0.23%
• 1M: 0.02%
• 6M: 0.88%
• YTD: 1.16%
• 1Y: 3.86%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.21%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ZHOG F/m Opportunistic Income ETF	$57.69K	$52.11K	$66.87K
ZTEN F/M 10-Year Investment Grade Corporate Bond ETF	$51.21K	$43.84K	$104.13K

ZTEN vs. ZHOG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ZTEN F/M 10-Year Investment Grade Corporate Bond ETF	0.08%	9.15%	0.29%
ZHOG F/m Opportunistic Income ETF	1.16%	5.98%	0.12%

Correlation

The correlation between ZTEN and ZHOG is 0.78, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.78
Correlation (All Time) Calculated using the full available price history since Dec 19, 2024	0.82

The correlation between ZTEN and ZHOG has been stable across timeframes, ranging from 0.78 to 0.82 - a consistent structural relationship.

Return for Risk

ZTEN vs. ZHOG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ZTEN

ZTEN Risk / Return Rank: 25
ZTEN Sharpe Ratio Rank: 25
ZTEN Sortino Ratio Rank: 23
ZTEN Omega Ratio Rank: 22
ZTEN Calmar Ratio Rank: 27
ZTEN Martin Ratio Rank: 28

ZHOG

ZHOG Risk / Return Rank: 85
ZHOG Sharpe Ratio Rank: 89
ZHOG Sortino Ratio Rank: 91
ZHOG Omega Ratio Rank: 90
ZHOG Calmar Ratio Rank: 75
ZHOG Martin Ratio Rank: 81

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ZTEN vs. ZHOG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for F/M 10-Year Investment Grade Corporate Bond ETF (ZTEN) and F/m Opportunistic Income ETF (ZHOG). 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.

	ZTEN	ZHOG	Difference
Sharpe ratio: Return per unit of total volatility	0.64	2.40	-1.76
Sortino ratio: Return per unit of downside risk	0.94	3.53	-2.59
Omega ratio: Gain probability vs. loss probability	1.11	1.46	-0.35
Calmar ratio: Return relative to maximum drawdown	0.95	2.96	-2.01
Martin ratio: Return relative to average drawdown	2.62	12.04	-9.42

ZTEN vs. ZHOG - Sharpe Ratio Comparison

The current ZTEN Sharpe Ratio is 0.64, which is lower than the ZHOG Sharpe Ratio of 2.40. The chart below compares the historical Sharpe Ratios of ZTEN and ZHOG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ZTEN vs. ZHOG - Drawdown Comparison

The maximum ZTEN drawdown since its inception was -3.43%, smaller than the maximum ZHOG drawdown of -3.66%. Use the drawdown chart below to compare losses from any high point for ZTEN and ZHOG.

Drawdown Indicators

	ZTEN	ZHOG	Difference
Max Drawdown Largest peak-to-trough decline	-3.43%	-3.66%	+0.23%
Max Drawdown (1Y) Largest decline over 1 year	-3.32%	-1.31%	-2.01%
Current Drawdown Current decline from peak	-1.54%	-0.23%	-1.31%
Average Drawdown Average peak-to-trough decline	-0.86%	-0.67%	-0.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.20%	0.32%	+0.88%

Volatility

ZTEN vs. ZHOG - Volatility Comparison

F/M 10-Year Investment Grade Corporate Bond ETF (ZTEN) has a higher volatility of 1.53% compared to F/m Opportunistic Income ETF (ZHOG) at 0.68%. This indicates that ZTEN's price experiences larger fluctuations and is considered to be riskier than ZHOG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZTEN	ZHOG	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.53%	0.68%	+0.85%
Volatility (6M) Calculated over the trailing 6-month period	4.07%	1.30%	+2.77%
Volatility (1Y) Calculated over the trailing 1-year period	4.92%	1.61%	+3.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.73%	3.92%	+1.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.73%	3.92%	+1.81%

ZTEN vs. ZHOG - Expense Ratio Comparison

ZTEN has a 0.15% expense ratio, which is lower than ZHOG's 0.43% expense ratio.

Dividends

ZTEN vs. ZHOG - Dividend Comparison

ZTEN's dividend yield for the trailing twelve months is around 5.08%, which matches ZHOG's 5.03% yield.

Position	TTM	2025	2024	2023
ZHOG F/m Opportunistic Income ETF	5.03%	5.35%	5.50%	1.70%
ZTEN F/M 10-Year Investment Grade Corporate Bond ETF	5.08%	5.16%	0.44%	0.00%

Frequently Asked Questions

Can I hold both ZTEN and ZHOG in my portfolio?

ZTEN and ZHOG have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ZTEN or ZHOG?

ZTEN has higher volatility (1.53%) compared to ZHOG (0.68%). In terms of maximum drawdown, ZTEN dropped -3.43% vs ZHOG's -3.66%.

Which ETF is better, ZTEN or ZHOG?

On 1-year performance, ZHOG leads with 3.86% vs 3.15% for ZTEN. On fees, ZTEN is cheaper at 0.15% per year. On volatility, ZHOG has been the lower-risk option at 0.68%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ZTEN or ZHOG?

Over the 1-year period, ZHOG has performed better with a 3.86% return vs 3.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ZTEN or ZHOG?

ZTEN is cheaper with a 0.15% expense ratio, compared with 0.43% for ZHOG.

Which ETF pays a higher dividend yield, ZTEN or ZHOG?

ZTEN has the higher dividend yield at 5.08%, compared with 5.03% for ZHOG.

What is the main difference between ZTEN and ZHOG?

ZTEN is categorized as Long-Term Bond, while ZHOG is Intermediate Core-Plus Bond. Their fees differ too: 0.15% for ZTEN and 0.43% for ZHOG.

Which has better risk-adjusted returns?

ZHOG currently has the higher Sharpe Ratio (2.40 vs 0.64), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.