CAGS.TO vs. RCDB.NEO
CAGS.TO (CI Canadian Short-Term Aggregate Bond Index ETF) and RCDB.NEO (RBC Canadian Discount Bond ETF) are both Short-Term Bond funds. Over the past 5 years, CAGS.TO returned 2.12%/yr vs 2.33%/yr for RCDB.NEO. At a 0.16 correlation, their price movements are largely independent.
Performance
CAGS.TO vs. RCDB.NEO - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with CAGS.TO having a 1.42% return and RCDB.NEO slightly higher at 1.45%.
CAGS.TO
- 1D
- 0.02%
- 1M
- 0.38%
- YTD
- 1.42%
- 6M
- 1.40%
- 1Y
- 3.10%
- 3Y*
- 5.14%
- 5Y*
- 2.12%
- 10Y*
- —
RCDB.NEO
- 1D
- -0.05%
- 1M
- 0.31%
- YTD
- 1.45%
- 6M
- 1.41%
- 1Y
- 2.97%
- 3Y*
- 4.89%
- 5Y*
- 2.33%
- 10Y*
- —
CAGS.TO vs. RCDB.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
CAGS.TO CI Canadian Short-Term Aggregate Bond Index ETF | 1.42% | 3.95% | 6.07% | 5.02% | -4.30% | -1.22% | 4.47% | 1.05% |
RCDB.NEO RBC Canadian Discount Bond ETF | 1.45% | 3.75% | 5.58% | 5.68% | -4.07% | -0.68% | 5.61% | 0.58% |
Correlation
The correlation between CAGS.TO and RCDB.NEO 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 | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Jun 11, 2019 | 0.16 |
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Return for Risk
CAGS.TO vs. RCDB.NEO — Risk / Return Rank
CAGS.TO
RCDB.NEO
CAGS.TO vs. RCDB.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CI Canadian Short-Term Aggregate Bond Index ETF (CAGS.TO) and RBC Canadian Discount Bond ETF (RCDB.NEO). 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.
| CAGS.TO | RCDB.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.26 | ||
| Sortino ratioReturn per unit of downside risk | +0.31 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.24 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.34 | 1.88 | +0.46 |
| Martin ratioReturn relative to average drawdown | 7.01 | 6.51 | +0.50 |
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Drawdowns
CAGS.TO vs. RCDB.NEO - Drawdown Comparison
The maximum CAGS.TO drawdown since its inception was -11.60%, which is greater than RCDB.NEO's maximum drawdown of -8.31%. Use the drawdown chart below to compare losses from any high point for CAGS.TO and RCDB.NEO.
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Drawdown Indicators
| CAGS.TO | RCDB.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.60% | -8.31% | -3.29% |
Max Drawdown (1Y)Largest decline over 1 year | -1.33% | -1.59% | +0.26% |
Max Drawdown (3Y)Largest decline over 3 years | -1.33% | -1.59% | +0.26% |
Max Drawdown (5Y)Largest decline over 5 years | -7.58% | -6.90% | -0.68% |
Current DrawdownCurrent decline from peak | -0.02% | -0.05% | +0.03% |
Average DrawdownAverage peak-to-trough decline | -1.46% | -1.39% | -0.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.44% | 0.46% | -0.02% |
Volatility
CAGS.TO vs. RCDB.NEO - Volatility Comparison
The current volatility for CI Canadian Short-Term Aggregate Bond Index ETF (CAGS.TO) is 0.51%, while RBC Canadian Discount Bond ETF (RCDB.NEO) has a volatility of 0.56%. This indicates that CAGS.TO experiences smaller price fluctuations and is considered to be less risky than RCDB.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CAGS.TO | RCDB.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.51% | 0.56% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 1.53% | 1.65% | -0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.01% | 2.34% | -0.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.76% | 2.84% | -0.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.63% | 5.45% | -0.82% |
Dividends
CAGS.TO vs. RCDB.NEO - Dividend Comparison
CAGS.TO's dividend yield for the trailing twelve months is around 3.27%, more than RCDB.NEO's 2.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
CAGS.TO CI Canadian Short-Term Aggregate Bond Index ETF | 3.27% | 3.16% | 3.37% | 2.62% | 2.61% | 1.96% | 2.59% | 2.83% | 2.72% | 1.06% |
RCDB.NEO RBC Canadian Discount Bond ETF | 2.17% | 1.96% | 1.58% | 1.22% | 1.16% | 1.33% | 1.68% | 0.78% | 0.00% | 0.00% |
Frequently Asked Questions
CAGS.TO and RCDB.NEO 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: CI and RBC.
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