A side-by-side comparison of Global X Active Ultra-Short Term Investment Grade Bond ETF (HFR) and BMO Ultra Short-Term Bond (ZST) to help Canadian investors make an informed decision.
1-Year Performance
Normalised to 100 at the start — shows relative return over the trailing 12 months.
Head-to-Head Comparison
| Metric | HFR | ZST |
|---|---|---|
| YTD Return | -0.25% | +0.16%✓ |
| 1-Day Change | +0.05%✓ | +0.02% |
| 1-Week Change | +0.05%✓ | +0.04% |
| 1-Month Change | -0.10% | +0.02%✓ |
| Current Price | $10.06 | $49.12 |
| AUM | $655M | $3.51B✓ |
| MER (Expense Ratio) | 0%✓ | 0.15% |
| Dividend Yield | 3.59%✓ | 2.51% |
| Distribution Frequency | Monthly | Monthly |
| Inception Date | 2010-12-10 | 2011-01-28 |
| Holdings Count | 10 | 10 |
| MorningStar Rating | ★★★★★ | ★★★★ |
| Category | Canadian Short Term Fixed Income | Canadian Short Term Fixed Income |
| Beta | 0.32 | 0.06 |
| 52-Week High | $10.07 | $49.13 |
| 52-Week Low | $9.75 | $48.31 |
| 50-Day MA | $10.07 | $49.11 |
| 200-Day MA | $10.09 | $49.19 |
✓ marks the better value for return/yield/AUM metrics. Lower ✓ for MER.
Annualised Returns
| Period | HFR | ZST |
|---|---|---|
| YTD | -0.25% | +0.16%✓ |
| 1 Year | +3.12%✓ | +2.71% |
| 3 Year | +5.34%✓ | +4.09% |
| 5 Year | +3.94%✓ | +3.29% |
| 10 Year | +3.26%✓ | +2.49% |
| 1Y Volatility | 0.67% | 0.17% |
| Sharpe Ratio (3Y) | 1.99 | 3.10 |
Past performance is not a guarantee of future results.
Top 10 Holdings
| 1 | Canadian Imperial Bank of Commerce 3.45% | 2.66% | |
| 2 | Pembina Pipeline Corporation 2.99% | 2.18% | |
| 3 | TransCanada Pipelines Limited 3.8% | 1.45% | |
| 4 | Federation des Caisses Desjardins du Quebec 2.86% | 1.42% | |
| 5 | The Toronto-Dominion Bank 3% | 1.38% | |
| 6 | Bank Montreal Que 2.85% | 1.37% | |
| 7 | H&R Real Estate Investment Trust 3.37% | 1.36% | |
| 8 | Choice Properties Real Estate Investment Trust 3.56% | 1.24% | |
| 9 | Bank Montreal Que 2.28% | 1.16% | |
| 10 | Canadian Natural Resources Limited 3.55% | 1.16% |
| 1 | Canada (Government of) 0% | 19.95% | |
| 2 | Purpose High Interest Savings ETF | 9.64% | |
| 3 | Dollarama Inc 2.34% | 6.57% | |
| 4 | The Toronto-Dominion Bank 1.99% | 6.43% | |
| 5 | Honda Canada Finance Inc. 1.82% | 4.85% | |
| 6 | Royal Bank of Canada 1.97% | 4.83% | |
| 7 | Daimler Canada Finance, Inc. 1.91% | 3.97% | |
| 8 | Canadian Imperial Bank of Commerce 2.04% | 3.43% | |
| 9 | Omers Realty Corporation 1.82% | 3.22% | |
| 10 | Bank of Nova Scotia 1.83% | 2.75% |
Sector Weights
| Sector | HFR | ZST |
|---|---|---|
| Basic Materials | 0.00% | 0.00% |
| Communication Services | 0.00% | 0.00% |
| Consumer Cyclicals | 0.00% | 0.00% |
| Consumer Defensive | 0.00% | 0.00% |
| Energy | 0.00% | 0.00% |
| Financial Services | 0.00% | 0.00% |
| Healthcare | 0.00% | 0.00% |
| Industrials | 0.00% | 0.00% |
| Real Estate | 0.00% | 0.00% |
| Technology | 0.00% | 0.00% |
| Utilities | 0.00% | 0.00% |
About HFR
Global X Active Ultra-Short Term Investment Grade Bond ETF (HFR.TO) is a Canadian-listed ETF traded on the Toronto Stock Exchange. More detailed information will be available soon.
About ZST
BMO Ultra Short-Term Bond (ZST.TO) is a Canadian-listed ETF traded on the Toronto Stock Exchange. More detailed information will be available soon.
Which ETF is Right for You?
Both HFR and ZST are listed on Canadian exchanges and accessible through most Canadian brokerages including Questrade, Wealthsimple Trade, TD Direct, and Interactive Brokers.
Based on the available data, ZST scores higher across our tracked metrics including YTD performance, dividend yield, and AUM — though both ETFs warrant individual research before investing.
- Consider your account type (TFSA, RRSP, non-registered) as it can affect dividend taxation.
- Compare management expense ratios (MER) directly on each provider's website.
- Look at average daily trading volume to assess liquidity.
- Review the fund's underlying index and holdings to ensure the exposure matches your goals.
This is not financial advice. Always do your own research or consult a licensed financial advisor before investing.
Frequently Asked Questions
What is the difference between HFR and ZST?
HFR (Global X Active Ultra-Short Term Investment Grade Bond ETF) and ZST (BMO Ultra Short-Term Bond) are both Canadian-listed ETFs. Key differences include their AUM ($655M vs $3.51B), dividend yield (3.59% vs 2.51%), and year-to-date performance (-0.25% vs +0.16%).
Is HFR better than ZST?
There is no single "better" ETF — it depends on your investment goals. If you prioritise dividends, compare both yields and choose based on your income needs. Always review the fund's prospectus and consider your tax situation.
Can I buy HFR and ZST on Wealthsimple?
Most Canadian-listed ETFs are available on Wealthsimple Trade commission-free. Both HFR and ZST should be accessible. Check Wealthsimple's supported tickers list to confirm availability.
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