CCBI.TO vs. RQP.TO

Last updated Jul 25, 2026

CCBI.TO (CIBC Canadian Bond Index ETF) and RQP.TO (RBC Target 2027 Canadian Corporate Bond Index ETF) are both exchange-traded funds - CCBI.TO is a Total Bond Market fund tracking the FTSE Canada Universe Bond Index, while RQP.TO is a Corporate Bonds fund actively managed by RBC. CCBI.TO is passively managed, while RQP.TO is actively managed. Over the past 5 years, CCBI.TO returned -0.50%/yr vs 1.72%/yr for RQP.TO. At a 0.45 correlation, their price movements are largely independent.

Performance

CCBI.TO vs. RQP.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in CIBC Canadian Bond Index ETF (CCBI.TO) and RBC Target 2027 Canadian Corporate Bond Index ETF (RQP.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CCBI.TO achieves a 0.83% return, which is significantly lower than RQP.TO's 1.41% return.

CCBI.TO

• 1D: -0.11%
• 1M: -1.48%
• 6M: 0.27%
• YTD: 0.83%
• 1Y: 3.73%
• 3Y*: 4.09%
• 5Y*: -0.50%
• 10Y*: —
• ALL TIME*: 0.75%

RQP.TO

• 1D: 0.11%
• 1M: 0.16%
• 6M: 1.16%
• YTD: 1.41%
• 1Y: 3.27%
• 3Y*: 5.90%
• 5Y*: 1.72%
• 10Y*: —
• ALL TIME*: 1.47%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CCBI.TO CIBC Canadian Bond Index ETF	CA$275.96K	CA$286.08K	CA$301.22K
RQP.TO RBC Target 2027 Canadian Corporate Bond Index ETF	CA$225.57K	CA$264.41K	CA$243.19K

CCBI.TO vs. RQP.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CCBI.TO CIBC Canadian Bond Index ETF	0.83%	2.17%	4.26%	4.11%	-9.05%	2.30%
RQP.TO RBC Target 2027 Canadian Corporate Bond Index ETF	1.41%	4.15%	6.22%	6.87%	-8.19%	-0.08%

Correlation

The correlation between CCBI.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	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.46
Correlation (All Time) Calculated using the full available price history since Mar 24, 2021	0.45

The correlation between CCBI.TO and RQP.TO shifts across timeframes, from 0.45 (all time) to 0.59 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

CCBI.TO vs. RQP.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CCBI.TO

CCBI.TO Risk / Return Rank: 36
CCBI.TO Sharpe Ratio Rank: 35
CCBI.TO Sortino Ratio Rank: 34
CCBI.TO Omega Ratio Rank: 37
CCBI.TO Calmar Ratio Rank: 39
CCBI.TO Martin Ratio Rank: 34

RQP.TO

RQP.TO Risk / Return Rank: 95
RQP.TO Sharpe Ratio Rank: 95
RQP.TO Sortino Ratio Rank: 96
RQP.TO Omega Ratio Rank: 96
RQP.TO Calmar Ratio Rank: 94
RQP.TO Martin Ratio Rank: 96

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CCBI.TO vs. RQP.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CIBC Canadian Bond Index ETF (CCBI.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.

	CCBI.TO	RQP.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.88	2.83	-1.95
Sortino ratio: Return per unit of downside risk	1.30	4.29	-3.00
Omega ratio: Gain probability vs. loss probability	1.18	1.63	-0.45
Calmar ratio: Return relative to maximum drawdown	1.36	5.03	-3.67
Martin ratio: Return relative to average drawdown	3.35	26.35	-22.99

CCBI.TO vs. RQP.TO - Sharpe Ratio Comparison

The current CCBI.TO Sharpe Ratio is 0.88, which is lower than the RQP.TO Sharpe Ratio of 2.83. The chart below compares the historical Sharpe Ratios of CCBI.TO and RQP.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CCBI.TO vs. RQP.TO - Drawdown Comparison

The maximum CCBI.TO drawdown since its inception was -17.72%, 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 CCBI.TO and RQP.TO.

Drawdown Indicators

	CCBI.TO	RQP.TO	Difference
Max Drawdown Largest peak-to-trough decline	-17.72%	-13.88%	-3.84%
Max Drawdown (1Y) Largest decline over 1 year	-2.72%	-0.65%	-2.07%
Max Drawdown (3Y) Largest decline over 3 years	-4.34%	-1.46%	-2.88%
Max Drawdown (5Y) Largest decline over 5 years	-17.72%	-12.93%	-4.79%
Current Drawdown Current decline from peak	-2.64%	0.00%	-2.64%
Average Drawdown Average peak-to-trough decline	-7.90%	-4.11%	-3.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.10%	0.12%	+0.98%

Volatility

CCBI.TO vs. RQP.TO - Volatility Comparison

CIBC Canadian Bond Index ETF (CCBI.TO) has a higher volatility of 1.15% compared to RBC Target 2027 Canadian Corporate Bond Index ETF (RQP.TO) at 0.24%. This indicates that CCBI.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.

Volatility by Period

	CCBI.TO	RQP.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.15%	0.24%	+0.91%
Volatility (6M) Calculated over the trailing 6-month period	3.34%	0.85%	+2.49%
Volatility (1Y) Calculated over the trailing 1-year period	4.20%	1.16%	+3.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.82%	3.85%	+2.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.97%	3.76%	+3.21%

Dividends

CCBI.TO vs. RQP.TO - Dividend Comparison

CCBI.TO's dividend yield for the trailing twelve months is around 3.36%, less than RQP.TO's 3.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
CCBI.TO CIBC Canadian Bond Index ETF	3.36%	3.22%	2.85%	2.78%	2.60%	1.78%	0.00%
RQP.TO RBC Target 2027 Canadian Corporate Bond Index ETF	3.73%	3.58%	3.25%	3.18%	2.67%	2.29%	0.60%

Frequently Asked Questions

Can I hold both CCBI.TO and RQP.TO in my portfolio?

CCBI.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.

What is the main difference between CCBI.TO and RQP.TO?

CCBI.TO is categorized as Total Bond Market, while RQP.TO is Corporate Bonds. They also come from different issuers: CIBC Asset Management Inc. and RBC.