ZTOP vs. HYZD
ZTOP (F/m High Yield 100 ETF) and HYZD (WisdomTree Interest Rate Hedged High Yield Bond Fund) are both High Yield Bonds funds - ZTOP tracks the Bloomberg U.S. High Yield Top 100 Quality Select Equal Weighted Index while HYZD tracks the WisdomTree U.S. High Yield Corporate Bond, Zero Duration Index. Both are passively managed. Over the past year, ZTOP returned 6.44% vs 7.82% for HYZD. At a 0.38 correlation, their price movements are largely independent. ZTOP charges 0.39%/yr vs 0.43%/yr for HYZD.
Performance
ZTOP vs. HYZD - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ZTOP achieves a 1.64% return, which is significantly lower than HYZD's 2.88% return.
ZTOP
- 1D
- 0.10%
- 1M
- 0.31%
- YTD
- 1.64%
- 6M
- 2.30%
- 1Y
- 6.44%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYZD
- 1D
- 0.35%
- 1M
- 0.87%
- YTD
- 2.88%
- 6M
- 3.60%
- 1Y
- 7.82%
- 3Y*
- 9.46%
- 5Y*
- 6.30%
- 10Y*
- 5.60%
ZTOP vs. HYZD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ZTOP F/m High Yield 100 ETF | 1.64% | 8.13% |
HYZD WisdomTree Interest Rate Hedged High Yield Bond Fund | 2.88% | 9.44% |
Correlation
The correlation between ZTOP and HYZD is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2025 | 0.38 |
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
ZTOP vs. HYZD — Risk / Return Rank
ZTOP
HYZD
ZTOP vs. HYZD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for F/m High Yield 100 ETF (ZTOP) and WisdomTree Interest Rate Hedged High Yield Bond Fund (HYZD). 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.
| ZTOP | HYZD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.52 | ||
| Sortino ratioReturn per unit of downside risk | -1.03 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.51 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.56 | 4.11 | -1.55 |
| Martin ratioReturn relative to average drawdown | 11.67 | 17.47 | -5.80 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| ZTOP | HYZD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.97 | 2.48 | -0.52 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.94 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.66 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.50 | 0.51 | +1.99 |
Drawdowns
ZTOP vs. HYZD - Drawdown Comparison
The maximum ZTOP drawdown since its inception was -2.52%, smaller than the maximum HYZD drawdown of -25.66%. Use the drawdown chart below to compare losses from any high point for ZTOP and HYZD.
Loading charts...
Drawdown Indicators
| ZTOP | HYZD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.52% | -25.66% | +23.14% |
Max Drawdown (1Y)Largest decline over 1 year | -2.52% | -1.91% | -0.61% |
Max Drawdown (3Y)Largest decline over 3 years | — | -5.85% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -8.97% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -25.66% | — |
Current DrawdownCurrent decline from peak | -0.17% | 0.00% | -0.17% |
Average DrawdownAverage peak-to-trough decline | -0.29% | -2.20% | +1.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.55% | 0.45% | +0.10% |
Volatility
ZTOP vs. HYZD - Volatility Comparison
F/m High Yield 100 ETF (ZTOP) and WisdomTree Interest Rate Hedged High Yield Bond Fund (HYZD) have volatilities of 1.03% and 1.00%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ZTOP | HYZD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.03% | 1.00% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 2.59% | 2.37% | +0.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.29% | 3.17% | +0.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.48% | 6.70% | -3.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.48% | 8.57% | -5.09% |
ZTOP vs. HYZD - Expense Ratio Comparison
ZTOP has a 0.39% expense ratio, which is lower than HYZD's 0.43% expense ratio.
Dividends
ZTOP vs. HYZD - Dividend Comparison
ZTOP's dividend yield for the trailing twelve months is around 6.24%, more than HYZD's 5.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYZD WisdomTree Interest Rate Hedged High Yield Bond Fund | 5.87% | 6.05% | 6.08% | 5.94% | 5.14% | 4.02% | 5.13% | 5.50% | 5.58% | 4.94% | 5.07% | 4.38% |
ZTOP F/m High Yield 100 ETF | 6.24% | 4.39% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZTOP and HYZD have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ZTOP has higher volatility (1.03%) compared to HYZD (1.00%). In terms of maximum drawdown, ZTOP dropped -2.52% vs HYZD's -25.66%.
On 1-year performance, HYZD leads with 7.82% vs 6.44% for ZTOP. On fees, ZTOP is cheaper at 0.39% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, HYZD has performed better with a 7.82% return vs 6.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ZTOP is cheaper with a 0.39% expense ratio, compared with 0.43% for HYZD.
ZTOP has the higher dividend yield at 6.24%, compared with 5.87% for HYZD.
ZTOP tracks Bloomberg U.S. High Yield Top 100 Quality Select Equal Weighted Index, while HYZD tracks WisdomTree U.S. High Yield Corporate Bond, Zero Duration Index. They also come from different issuers: F/m Investments and WisdomTree. Their fees differ too: 0.39% for ZTOP and 0.43% for HYZD.
HYZD currently has the higher Sharpe Ratio (2.48 vs 1.97), 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.
Find the right allocation for ZTOP and HYZD
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