CACB.TO vs. ZQB.TO
CACB.TO (CIBC Active Investment Grade Corporate Bond ETF) and ZQB.TO (BMO High Quality Corporate Bond Index ETF) are both Corporate Bonds funds. Over the past 5 years, CACB.TO returned 2.03%/yr vs 2.53%/yr for ZQB.TO. At a 0.40 correlation, their price movements are largely independent.
Performance
CACB.TO vs. ZQB.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 ZQB.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*
- —
ZQB.TO
- 1D
- 0.10%
- 1M
- -0.22%
- 6M
- 0.97%
- YTD
- 1.35%
- 1Y
- 4.19%
- 3Y*
- 5.91%
- 5Y*
- 2.53%
- 10Y*
- —
CACB.TO vs. ZQB.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% | 7.01% |
ZQB.TO BMO High Quality Corporate Bond Index ETF | 1.35% | 4.80% | 6.78% | 6.49% | -5.39% | -2.02% | 5.33% |
Correlation
The correlation between CACB.TO and ZQB.TO is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Feb 12, 2020 | 0.40 |
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Return for Risk
CACB.TO vs. ZQB.TO — Risk / Return Rank
CACB.TO
ZQB.TO
CACB.TO vs. ZQB.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 BMO High Quality Corporate Bond Index ETF (ZQB.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 | ZQB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.53 | ||
| Sortino ratioReturn per unit of downside risk | -0.76 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.39 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.98 | 2.35 | -0.37 |
| Martin ratioReturn relative to average drawdown | 6.12 | 8.27 | -2.15 |
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Drawdowns
CACB.TO vs. ZQB.TO - Drawdown Comparison
The maximum CACB.TO drawdown since its inception was -15.56%, which is greater than ZQB.TO's maximum drawdown of -10.18%. Use the drawdown chart below to compare losses from any high point for CACB.TO and ZQB.TO.
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Drawdown Indicators
| CACB.TO | ZQB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.56% | -10.18% | -5.38% |
Max Drawdown (1Y)Largest decline over 1 year | -2.59% | -1.79% | -0.80% |
Max Drawdown (3Y)Largest decline over 3 years | -3.36% | -1.79% | -1.57% |
Max Drawdown (5Y)Largest decline over 5 years | -14.52% | -9.64% | -4.88% |
Current DrawdownCurrent decline from peak | -0.82% | -0.45% | -0.37% |
Average DrawdownAverage peak-to-trough decline | -3.83% | -2.33% | -1.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.83% | 0.51% | +0.32% |
Volatility
CACB.TO vs. ZQB.TO - Volatility Comparison
CIBC Active Investment Grade Corporate Bond ETF (CACB.TO) has a higher volatility of 1.09% compared to BMO High Quality Corporate Bond Index ETF (ZQB.TO) at 0.69%. This indicates that CACB.TO's price experiences larger fluctuations and is considered to be riskier than ZQB.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 | ZQB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.09% | 0.69% | +0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 2.87% | 1.80% | +1.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.74% | 2.24% | +1.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.66% | 3.50% | +2.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.16% | 4.17% | +1.99% |
Dividends
CACB.TO vs. ZQB.TO - Dividend Comparison
CACB.TO's dividend yield for the trailing twelve months is around 4.45%, more than ZQB.TO's 3.93% 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% |
ZQB.TO BMO High Quality Corporate Bond Index ETF | 3.93% | 3.67% | 3.39% | 3.00% | 2.80% | 2.58% | 2.46% | 0.00% |
Frequently Asked Questions
CACB.TO and ZQB.TO have a correlation of 0.49, 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 BMO.
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