CACB.TO vs. RQP.TO
CACB.TO (CIBC Active Investment Grade Corporate Bond ETF) and RQP.TO (RBC Target 2027 Canadian 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 1.75%/yr for RQP.TO. At a 0.46 correlation, their price movements are largely independent.
Performance
CACB.TO vs. RQP.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with CACB.TO having a 1.29% return and RQP.TO slightly higher at 1.35%.
CACB.TO
- 1D
- 0.15%
- 1M
- -0.52%
- 6M
- 0.69%
- YTD
- 1.29%
- 1Y
- 5.09%
- 3Y*
- 6.21%
- 5Y*
- 2.03%
- 10Y*
- —
RQP.TO
- 1D
- 0.05%
- 1M
- 0.16%
- 6M
- 1.19%
- YTD
- 1.35%
- 1Y
- 3.41%
- 3Y*
- 5.72%
- 5Y*
- 1.75%
- 10Y*
- —
CACB.TO vs. RQP.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% |
RQP.TO RBC Target 2027 Canadian Corporate Bond Index ETF | 1.35% | 4.15% | 6.22% | 6.87% | -8.19% | -2.20% | 1.15% |
Correlation
The correlation between CACB.TO and RQP.TO is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Sep 18, 2020 | 0.46 |
The correlation between CACB.TO and RQP.TO shifts across timeframes, from 0.46 (all time) to 0.61 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
CACB.TO vs. RQP.TO — Risk / Return Rank
CACB.TO
RQP.TO
CACB.TO vs. RQP.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 2027 Canadian Corporate Bond Index ETF (RQP.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 | RQP.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.58 | ||
| Sortino ratioReturn per unit of downside risk | -2.50 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.66 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | 1.98 | 5.24 | -3.27 |
| Martin ratioReturn relative to average drawdown | 6.12 | 27.52 | -21.40 |
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Drawdowns
CACB.TO vs. RQP.TO - Drawdown Comparison
The maximum CACB.TO drawdown since its inception was -15.56%, which is greater than RQP.TO's maximum drawdown of -13.88%. Use the drawdown chart below to compare losses from any high point for CACB.TO and RQP.TO.
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Drawdown Indicators
| CACB.TO | RQP.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.56% | -13.88% | -1.68% |
Max Drawdown (1Y)Largest decline over 1 year | -2.59% | -0.65% | -1.94% |
Max Drawdown (3Y)Largest decline over 3 years | -3.36% | -1.46% | -1.90% |
Max Drawdown (5Y)Largest decline over 5 years | -14.52% | -12.93% | -1.59% |
Current DrawdownCurrent decline from peak | -0.82% | 0.00% | -0.82% |
Average DrawdownAverage peak-to-trough decline | -3.83% | -4.13% | +0.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.83% | 0.12% | +0.71% |
Volatility
CACB.TO vs. RQP.TO - Volatility Comparison
CIBC Active Investment Grade Corporate Bond ETF (CACB.TO) has a higher volatility of 1.09% compared to RBC Target 2027 Canadian Corporate Bond Index ETF (RQP.TO) at 0.33%. This indicates that CACB.TO's price experiences larger fluctuations and is considered to be riskier than RQP.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 | RQP.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.09% | 0.33% | +0.76% |
Volatility (6M)Calculated over the trailing 6-month period | 2.87% | 0.85% | +2.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.74% | 1.16% | +2.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.66% | 3.86% | +1.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.16% | 3.77% | +2.39% |
Dividends
CACB.TO vs. RQP.TO - Dividend Comparison
CACB.TO's dividend yield for the trailing twelve months is around 4.45%, more than RQP.TO's 3.70% 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% |
RQP.TO RBC Target 2027 Canadian Corporate Bond Index ETF | 3.70% | 3.58% | 3.25% | 3.18% | 2.67% | 2.29% | 0.60% | 0.00% |
Frequently Asked Questions
CACB.TO and RQP.TO have a correlation of 0.54, 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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