ZTOP vs. MHY
ZTOP (F/m High Yield 100 ETF) and MHY (Man Active High Yield ETF) are both High Yield Bonds funds. ZTOP is passively managed, while MHY is actively managed. A 0.72 correlation means they provide meaningful diversification when combined. ZTOP charges 0.39%/yr vs 0.69%/yr for MHY.
Performance
ZTOP vs. MHY - Performance Comparison
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Returns By Period
In the year-to-date period, ZTOP achieves a 1.72% return, which is significantly lower than MHY's 4.13% return.
ZTOP
- 1D
- -0.15%
- 1M
- 0.35%
- YTD
- 1.72%
- 6M
- 2.15%
- 1Y
- 6.01%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MHY
- 1D
- 0.27%
- 1M
- 1.76%
- YTD
- 4.13%
- 6M
- 4.27%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZTOP vs. MHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ZTOP F/m High Yield 100 ETF | 1.72% | 1.34% |
MHY Man Active High Yield ETF | 4.13% | 1.54% |
Correlation
The correlation between ZTOP and MHY is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 18, 2025 | 0.72 |
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Return for Risk
ZTOP vs. MHY — Risk / Return Rank
ZTOP
MHY
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
ZTOP vs. MHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for F/m High Yield 100 ETF (ZTOP) and Man Active High Yield ETF (MHY). 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 | MHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.36 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.39 | — | — |
| Martin ratioReturn relative to average drawdown | 10.83 | — | — |
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Drawdowns
ZTOP vs. MHY - Drawdown Comparison
The maximum ZTOP drawdown since its inception was -2.52%, which is greater than MHY's maximum drawdown of -1.58%. Use the drawdown chart below to compare losses from any high point for ZTOP and MHY.
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Drawdown Indicators
| ZTOP | MHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.52% | -1.58% | -0.94% |
Max Drawdown (1Y)Largest decline over 1 year | -2.52% | — | — |
Current DrawdownCurrent decline from peak | -0.25% | 0.00% | -0.25% |
Average DrawdownAverage peak-to-trough decline | -0.29% | -0.29% | 0.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.56% | — | — |
Volatility
ZTOP vs. MHY - Volatility Comparison
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Volatility by Period
| ZTOP | MHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.83% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.66% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.33% | 3.00% | +0.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.47% | 3.00% | +0.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.47% | 3.00% | +0.47% |
ZTOP vs. MHY - Expense Ratio Comparison
ZTOP has a 0.39% expense ratio, which is lower than MHY's 0.69% expense ratio.
Dividends
ZTOP vs. MHY - Dividend Comparison
ZTOP's dividend yield for the trailing twelve months is around 6.27%, more than MHY's 3.55% yield.
| Position | TTM | 2025 |
|---|---|---|
MHY Man Active High Yield ETF | 3.55% | 3.42% |
ZTOP F/m High Yield 100 ETF | 6.27% | 4.39% |
Frequently Asked Questions
ZTOP and MHY have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZTOP is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZTOP is cheaper with a 0.39% expense ratio, compared with 0.69% for MHY.
ZTOP has the higher dividend yield at 6.27%, compared with 3.55% for MHY.
They also come from different issuers: F/m Investments and Man Group. Their fees differ too: 0.39% for ZTOP and 0.69% for MHY.
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