CFRN.TO vs. RQP.TO
CFRN.TO (CIBC Active Investment Grade Floating Rate 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, CFRN.TO returned 3.42%/yr vs 1.75%/yr for RQP.TO. At a 0.01 correlation, their price movements are largely independent.
Performance
CFRN.TO vs. RQP.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with CFRN.TO having a 1.36% return and RQP.TO slightly lower at 1.35%.
CFRN.TO
- 1D
- 0.00%
- 1M
- 0.20%
- 6M
- 1.31%
- YTD
- 1.36%
- 1Y
- 3.11%
- 3Y*
- 4.22%
- 5Y*
- 3.42%
- 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*
- —
CFRN.TO vs. RQP.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
CFRN.TO CIBC Active Investment Grade Floating Rate Bond ETF | 1.36% | 3.32% | 5.21% | 5.83% | 1.40% | 0.25% | 0.05% |
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 CFRN.TO and RQP.TO is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Sep 18, 2020 | 0.01 |
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Return for Risk
CFRN.TO vs. RQP.TO — Risk / Return Rank
CFRN.TO
RQP.TO
CFRN.TO vs. RQP.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CIBC Active Investment Grade Floating Rate Bond ETF (CFRN.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.
| CFRN.TO | RQP.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.61 | ||
| Sortino ratioReturn per unit of downside risk | -0.81 | ||
| Omega ratioGain probability vs. loss probability | 1.57 | 1.66 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 6.91 | 5.24 | +1.66 |
| Martin ratioReturn relative to average drawdown | 33.05 | 27.52 | +5.52 |
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Drawdowns
CFRN.TO vs. RQP.TO - Drawdown Comparison
The maximum CFRN.TO drawdown since its inception was -1.00%, smaller than the maximum RQP.TO drawdown of -13.88%. Use the drawdown chart below to compare losses from any high point for CFRN.TO and RQP.TO.
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Drawdown Indicators
| CFRN.TO | RQP.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.00% | -13.88% | +12.88% |
Max Drawdown (1Y)Largest decline over 1 year | -0.45% | -0.65% | +0.20% |
Max Drawdown (3Y)Largest decline over 3 years | -0.66% | -1.46% | +0.80% |
Max Drawdown (5Y)Largest decline over 5 years | -1.00% | -12.93% | +11.93% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.15% | -4.13% | +3.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.09% | 0.12% | -0.03% |
Volatility
CFRN.TO vs. RQP.TO - Volatility Comparison
The current volatility for CIBC Active Investment Grade Floating Rate Bond ETF (CFRN.TO) is 0.21%, while RBC Target 2027 Canadian Corporate Bond Index ETF (RQP.TO) has a volatility of 0.33%. This indicates that CFRN.TO experiences smaller price fluctuations and is considered to be less risky 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
| CFRN.TO | RQP.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.21% | 0.33% | -0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 0.83% | 0.85% | -0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.34% | 1.16% | +0.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.10% | 3.86% | -1.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.78% | 3.77% | -1.99% |
Dividends
CFRN.TO vs. RQP.TO - Dividend Comparison
CFRN.TO's dividend yield for the trailing twelve months is around 3.17%, less than RQP.TO's 3.70% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
CFRN.TO CIBC Active Investment Grade Floating Rate Bond ETF | 3.17% | 3.47% | 4.46% | 4.43% | 2.26% | 1.26% | 1.74% | 1.70% |
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
CFRN.TO and RQP.TO have a correlation of 0.06, 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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