ZTOP vs. IBHD

Last updated Aug 2, 2026

ZTOP (F/m High Yield 100 ETF) and IBHD (iShares iBonds 2024 Term High Yield & Income ETF) are both High Yield Bonds funds - ZTOP tracks the Bloomberg U.S. High Yield Top 100 Quality Select Equal Weighted Index while IBHD tracks the Bloomberg 2024 Term High Yield and Income Index. Both are passively managed. ZTOP charges 0.39%/yr vs 0.35%/yr for IBHD.

Performance

ZTOP vs. IBHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in F/m High Yield 100 ETF (ZTOP) and iShares iBonds 2024 Term High Yield & Income ETF (IBHD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ZTOP

• 1D: 0.09%
• 1M: -0.35%
• 6M: 1.01%
• YTD: 1.62%
• 1Y: 4.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.51%

IBHD

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*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)
ZTOP F/m High Yield 100 ETF	$9.29K	$12.01K	$41.65K

ZTOP vs. IBHD - Yearly Performance Comparison

	2026 (YTD)
ZTOP F/m High Yield 100 ETF	0.95%
IBHD iShares iBonds 2024 Term High Yield & Income ETF	0.00%

Return for Risk

ZTOP vs. IBHD — Risk / Return Rank

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

ZTOP

ZTOP Risk / Return Rank: 65
ZTOP Sharpe Ratio Rank: 64
ZTOP Sortino Ratio Rank: 67
ZTOP Omega Ratio Rank: 69
ZTOP Calmar Ratio Rank: 54
ZTOP Martin Ratio Rank: 70

IBHD

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

ZTOP vs. IBHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for F/m High Yield 100 ETF (ZTOP) and iShares iBonds 2024 Term High Yield & Income ETF (IBHD). 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.

	ZTOP	IBHD	Difference
Sharpe ratio: Return per unit of total volatility	1.48	—	—
Sortino ratio: Return per unit of downside risk	2.23	—	—
Omega ratio: Gain probability vs. loss probability	1.29	—	—
Calmar ratio: Return relative to maximum drawdown	1.94	—	—
Martin ratio: Return relative to average drawdown	8.69	—	—

Drawdowns

Drawdown Indicators

	ZTOP	IBHD	Difference
Max Drawdown Largest peak-to-trough decline	-2.52%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-2.52%	—	—
Current Drawdown Current decline from peak	-0.46%	—	—
Average Drawdown Average peak-to-trough decline	-0.29%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	0.56%	—	—

Volatility

Volatility by Period

	ZTOP	IBHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.72%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.69%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.30%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.38%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.38%	—	—

ZTOP vs. IBHD - Expense Ratio Comparison

ZTOP has a 0.39% expense ratio, which is higher than IBHD's 0.35% expense ratio.

Dividends

ZTOP vs. IBHD - Dividend Comparison

ZTOP's dividend yield for the trailing twelve months is around 6.29%, while IBHD has not paid dividends to shareholders.

Position	TTM	2025
IBHD iShares iBonds 2024 Term High Yield & Income ETF	0.00%	0.00%
ZTOP F/m High Yield 100 ETF	6.29%	4.39%

Frequently Asked Questions

Which ETF is better, ZTOP or IBHD?

On fees, IBHD is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ZTOP or IBHD?

IBHD is cheaper with a 0.35% expense ratio, compared with 0.39% for ZTOP.

Which ETF pays a higher dividend yield, ZTOP or IBHD?

ZTOP has the higher dividend yield at 6.29%, compared with 0.00% for IBHD.

What is the main difference between ZTOP and IBHD?

ZTOP tracks Bloomberg U.S. High Yield Top 100 Quality Select Equal Weighted Index, while IBHD tracks Bloomberg 2024 Term High Yield and Income Index. They also come from different issuers: F/m and iShares. Their fees differ too: 0.39% for ZTOP and 0.35% for IBHD.