CACB.TO vs. RQO.TO
CACB.TO (CIBC Active Investment Grade Corporate Bond ETF) and RQO.TO (RBC Target 2026 Corporate Bond Index ETF) are both Corporate Bonds funds. Both are actively managed. Over the past 5 years, CACB.TO returned 2.03%/yr vs 1.59%/yr for RQO.TO. At a 0.38 correlation, their price movements are largely independent.
Performance
CACB.TO vs. RQO.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with CACB.TO having a 1.29% return and RQO.TO slightly lower at 1.23%.
CACB.TO
- 1D
- 0.15%
- 1M
- -0.52%
- 6M
- 0.69%
- YTD
- 1.29%
- 1Y
- 5.09%
- 3Y*
- 6.21%
- 5Y*
- 2.03%
- 10Y*
- —
RQO.TO
- 1D
- 0.05%
- 1M
- 0.24%
- 6M
- 1.17%
- YTD
- 1.23%
- 1Y
- 2.90%
- 3Y*
- 5.11%
- 5Y*
- 1.59%
- 10Y*
- —
CACB.TO vs. RQO.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
CACB.TO CIBC Active Investment Grade Corporate Bond ETF | 1.29% | 4.34% | 7.21% | 8.55% | -9.72% | -2.45% | 1.69% |
RQO.TO RBC Target 2026 Corporate Bond Index ETF | 1.23% | 3.57% | 5.40% | 6.86% | -7.50% | -2.27% | 0.63% |
Correlation
The correlation between CACB.TO and RQO.TO is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Sep 18, 2020 | 0.38 |
Over the past year, the correlation between CACB.TO and RQO.TO has dropped to 0.17 - well below their long-term average of 0.38, suggesting their price drivers have been diverging.
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Return for Risk
CACB.TO vs. RQO.TO — Risk / Return Rank
CACB.TO
RQO.TO
CACB.TO vs. RQO.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CIBC Active Investment Grade Corporate Bond ETF (CACB.TO) and RBC Target 2026 Corporate Bond Index ETF (RQO.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.
| CACB.TO | RQO.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.74 | ||
| Sortino ratioReturn per unit of downside risk | -5.17 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 2.05 | -0.79 |
| Calmar ratioReturn relative to maximum drawdown | 1.98 | 27.50 | -25.52 |
| Martin ratioReturn relative to average drawdown | 6.12 | 91.66 | -85.54 |
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Drawdowns
CACB.TO vs. RQO.TO - Drawdown Comparison
The maximum CACB.TO drawdown since its inception was -15.56%, which is greater than RQO.TO's maximum drawdown of -12.86%. Use the drawdown chart below to compare losses from any high point for CACB.TO and RQO.TO.
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Drawdown Indicators
| CACB.TO | RQO.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.56% | -12.86% | -2.70% |
Max Drawdown (1Y)Largest decline over 1 year | -2.59% | -0.11% | -2.48% |
Max Drawdown (3Y)Largest decline over 3 years | -3.36% | -0.93% | -2.43% |
Max Drawdown (5Y)Largest decline over 5 years | -14.52% | -11.65% | -2.87% |
Current DrawdownCurrent decline from peak | -0.82% | 0.00% | -0.82% |
Average DrawdownAverage peak-to-trough decline | -3.83% | -3.73% | -0.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.83% | 0.03% | +0.80% |
Volatility
CACB.TO vs. RQO.TO - Volatility Comparison
CIBC Active Investment Grade Corporate Bond ETF (CACB.TO) has a higher volatility of 1.09% compared to RBC Target 2026 Corporate Bond Index ETF (RQO.TO) at 0.15%. This indicates that CACB.TO's price experiences larger fluctuations and is considered to be riskier than RQO.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CACB.TO | RQO.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.09% | 0.15% | +0.94% |
Volatility (6M)Calculated over the trailing 6-month period | 2.87% | 0.47% | +2.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.74% | 0.72% | +3.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.66% | 2.98% | +2.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.16% | 2.93% | +3.23% |
Dividends
CACB.TO vs. RQO.TO - Dividend Comparison
CACB.TO's dividend yield for the trailing twelve months is around 4.45%, more than RQO.TO's 3.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
CACB.TO CIBC Active Investment Grade Corporate Bond ETF | 4.45% | 4.46% | 4.24% | 3.59% | 3.11% | 2.78% | 2.41% | 2.45% |
RQO.TO RBC Target 2026 Corporate Bond Index ETF | 3.03% | 2.66% | 2.56% | 1.98% | 1.86% | 1.97% | 0.52% | 0.00% |
Frequently Asked Questions
CACB.TO and RQO.TO have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: CIBC and RBC.
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