ZUH.TO vs. FHH.TO

Last updated Jul 18, 2026

ZUH.TO (BMO Equal Weight US Health Care Hedged to CAD Index ETF) and FHH.TO (First Trust AlphaDEX U.S. Health Care Sector Index ETF) are both Health & Biotech Equities funds - ZUH.TO tracks the Solactive Equal Weight US Health Care Index CAD Hedged while FHH.TO tracks the StrataQuant Health Care Index. Both are passively managed. Over the past 10 years, ZUH.TO returned 6.26%/yr vs 8.51%/yr for FHH.TO. At a 0.28 correlation, their price movements are largely independent.

Performance

ZUH.TO vs. FHH.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO Equal Weight US Health Care Hedged to CAD Index ETF (ZUH.TO) and First Trust AlphaDEX U.S. Health Care Sector Index ETF (FHH.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ZUH.TO achieves a 5.34% return, which is significantly lower than FHH.TO's 9.98% return. Over the past 10 years, ZUH.TO has underperformed FHH.TO with an annualized return of 6.26%, while FHH.TO has yielded a comparatively higher 8.51% annualized return.

ZUH.TO

• 1D: -0.61%
• 1M: 8.54%
• 6M: 2.87%
• YTD: 5.34%
• 1Y: 18.09%
• 3Y*: 1.99%
• 5Y*: -1.47%
• 10Y*: 6.26%

FHH.TO

• 1D: 0.50%
• 1M: 5.38%
• 6M: 6.69%
• YTD: 9.98%
• 1Y: 25.65%
• 3Y*: 7.35%
• 5Y*: 4.31%
• 10Y*: 8.51%

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

ZUH.TO vs. FHH.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ZUH.TO BMO Equal Weight US Health Care Hedged to CAD Index ETF	5.34%	6.34%	-3.86%	-1.73%	-15.65%	15.42%	21.65%	25.99%	-2.83%	25.35%
FHH.TO First Trust AlphaDEX U.S. Health Care Sector Index ETF	9.98%	5.83%	9.13%	-6.00%	-8.34%	22.83%	23.20%	16.76%	4.25%	12.14%

Correlation

The correlation between ZUH.TO and FHH.TO is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.05
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (5Y) Calculated over the trailing 5-year period	0.20
Correlation (10Y) Calculated over the trailing 10-year period	0.27
Correlation (All Time) Calculated using the full available price history since Oct 30, 2014	0.28

Over the past year, the correlation between ZUH.TO and FHH.TO has dropped to 0.05 - well below their long-term average of 0.28, suggesting their price drivers have been diverging.

Return for Risk

ZUH.TO vs. FHH.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ZUH.TO

ZUH.TO Risk / Return Rank: 39
ZUH.TO Sharpe Ratio Rank: 40
ZUH.TO Sortino Ratio Rank: 43
ZUH.TO Omega Ratio Rank: 38
ZUH.TO Calmar Ratio Rank: 39
ZUH.TO Martin Ratio Rank: 33

FHH.TO

FHH.TO Risk / Return Rank: 57
FHH.TO Sharpe Ratio Rank: 63
FHH.TO Sortino Ratio Rank: 66
FHH.TO Omega Ratio Rank: 59
FHH.TO Calmar Ratio Rank: 52
FHH.TO Martin Ratio Rank: 44

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ZUH.TO vs. FHH.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO Equal Weight US Health Care Hedged to CAD Index ETF (ZUH.TO) and First Trust AlphaDEX U.S. Health Care Sector Index ETF (FHH.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.

	ZUH.TO	FHH.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.13	1.56	-0.43
Sortino ratio: Return per unit of downside risk	1.75	2.31	-0.56
Omega ratio: Gain probability vs. loss probability	1.20	1.27	-0.07
Calmar ratio: Return relative to maximum drawdown	1.57	2.00	-0.43
Martin ratio: Return relative to average drawdown	3.84	5.39	-1.55

ZUH.TO vs. FHH.TO - Sharpe Ratio Comparison

The current ZUH.TO Sharpe Ratio is 1.13, which is comparable to the FHH.TO Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of ZUH.TO and FHH.TO, 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

ZUH.TO vs. FHH.TO - Drawdown Comparison

The maximum ZUH.TO drawdown since its inception was -34.21%, which is greater than FHH.TO's maximum drawdown of -25.83%. Use the drawdown chart below to compare losses from any high point for ZUH.TO and FHH.TO.

Drawdown Indicators

	ZUH.TO	FHH.TO	Difference
Max Drawdown Largest peak-to-trough decline	-34.21%	-25.83%	-8.38%
Max Drawdown (1Y) Largest decline over 1 year	-11.59%	-12.91%	+1.32%
Max Drawdown (3Y) Largest decline over 3 years	-22.23%	-20.20%	-2.03%
Max Drawdown (5Y) Largest decline over 5 years	-34.21%	-21.86%	-12.35%
Max Drawdown (10Y) Largest decline over 10 years	-34.21%	-23.58%	-10.63%
Current Drawdown Current decline from peak	-15.10%	-3.87%	-11.23%
Average Drawdown Average peak-to-trough decline	-9.25%	-8.37%	-0.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.72%	4.77%	-0.05%

Volatility

ZUH.TO vs. FHH.TO - Volatility Comparison

BMO Equal Weight US Health Care Hedged to CAD Index ETF (ZUH.TO) and First Trust AlphaDEX U.S. Health Care Sector Index ETF (FHH.TO) have volatilities of 5.63% and 5.57%, 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.

Volatility by Period

	ZUH.TO	FHH.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.63%	5.57%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	12.02%	11.84%	+0.18%
Volatility (1Y) Calculated over the trailing 1-year period	16.12%	16.51%	-0.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.39%	15.96%	+1.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.56%	16.71%	+1.85%

Dividends

ZUH.TO vs. FHH.TO - Dividend Comparison

ZUH.TO's dividend yield for the trailing twelve months is around 0.52%, less than FHH.TO's 0.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FHH.TO First Trust AlphaDEX U.S. Health Care Sector Index ETF	0.58%	0.12%	0.22%	0.23%	0.39%	5.28%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ZUH.TO BMO Equal Weight US Health Care Hedged to CAD Index ETF	0.52%	0.55%	0.74%	0.73%	0.43%	0.12%	0.37%	0.33%	0.33%	0.36%	0.98%	0.48%

Frequently Asked Questions

Can I hold both ZUH.TO and FHH.TO in my portfolio?

ZUH.TO and FHH.TO have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between ZUH.TO and FHH.TO?

ZUH.TO tracks Solactive Equal Weight US Health Care Index CAD Hedged, while FHH.TO tracks StrataQuant Health Care Index. They also come from different issuers: BMO and First Trust.