CRQ.NEO vs. TAFI
CRQ.NEO (iShares Canadian Fundamental Index ETF) and TAFI (AB Tax-Aware Short Duration ETF) are both exchange-traded funds - CRQ.NEO is a Canada Equities fund tracking the FTSE RAFI Canada Index, while TAFI is a Municipal Bonds fund actively managed by AllianceBernstein. CRQ.NEO is passively managed, while TAFI is actively managed. Over the past 3 years, CRQ.NEO returned 26.75%/yr vs 4.88%/yr for TAFI. At a correlation of -0.26, they often move in opposite directions. CRQ.NEO charges 0.72%/yr vs 0.27%/yr for TAFI.
Performance
CRQ.NEO vs. TAFI - Performance Comparison
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Different Trading Currencies
CRQ.NEO is traded in CAD, while TAFI is traded in USD. To make them comparable, the TAFI values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, CRQ.NEO achieves a 17.22% return, which is significantly higher than TAFI's 2.54% return.
CRQ.NEO
- 1D
- 1.11%
- 1M
- 4.70%
- YTD
- 17.22%
- 6M
- 20.22%
- 1Y
- 44.45%
- 3Y*
- 26.75%
- 5Y*
- 17.85%
- 10Y*
- 13.46%
TAFI
- 1D
- 0.14%
- 1M
- 2.52%
- YTD
- 2.54%
- 6M
- 1.11%
- 1Y
- 5.70%
- 3Y*
- 4.88%
- 5Y*
- —
- 10Y*
- —
CRQ.NEO vs. TAFI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CRQ.NEO iShares Canadian Fundamental Index ETF | 17.22% | 31.87% | 22.17% | 9.76% | -0.54% |
TAFI AB Tax-Aware Short Duration ETF | 2.54% | -0.44% | 11.28% | 1.81% | 3.41% |
Correlation
The correlation between CRQ.NEO and TAFI is -0.19, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.19 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2022 | -0.26 |
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Return for Risk
CRQ.NEO vs. TAFI — Risk / Return Rank
CRQ.NEO
TAFI
CRQ.NEO vs. TAFI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Canadian Fundamental Index ETF (CRQ.NEO) and AB Tax-Aware Short Duration ETF (TAFI). 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.
| CRQ.NEO | TAFI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.35 | ||
| Sortino ratioReturn per unit of downside risk | +4.68 | ||
| Omega ratioGain probability vs. loss probability | 2.03 | 1.22 | +0.82 |
| Calmar ratioReturn relative to maximum drawdown | 6.53 | 1.60 | +4.93 |
| Martin ratioReturn relative to average drawdown | 31.92 | 4.04 | +27.87 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CRQ.NEO | TAFI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.55 | 1.20 | +3.35 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.45 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.83 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.69 | 0.84 | -0.15 |
Drawdowns
CRQ.NEO vs. TAFI - Drawdown Comparison
The maximum CRQ.NEO drawdown since its inception was -41.75%, which is greater than TAFI's maximum drawdown of -6.04%. Use the drawdown chart below to compare losses from any high point for CRQ.NEO and TAFI.
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Drawdown Indicators
| CRQ.NEO | TAFI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.75% | -6.04% | -35.71% |
Max Drawdown (1Y)Largest decline over 1 year | -6.84% | -3.57% | -3.27% |
Max Drawdown (3Y)Largest decline over 3 years | -11.70% | -6.04% | -5.66% |
Max Drawdown (5Y)Largest decline over 5 years | -15.82% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -41.75% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.01% | +0.01% |
Average DrawdownAverage peak-to-trough decline | -5.62% | -1.57% | -4.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.40% | 1.41% | -0.01% |
Volatility
CRQ.NEO vs. TAFI - Volatility Comparison
iShares Canadian Fundamental Index ETF (CRQ.NEO) has a higher volatility of 3.13% compared to AB Tax-Aware Short Duration ETF (TAFI) at 0.80%. This indicates that CRQ.NEO's price experiences larger fluctuations and is considered to be riskier than TAFI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CRQ.NEO | TAFI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.13% | 0.80% | +2.33% |
Volatility (6M)Calculated over the trailing 6-month period | 8.07% | 3.49% | +4.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.81% | 4.75% | +5.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.42% | 5.89% | +6.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.27% | 5.89% | +10.38% |
CRQ.NEO vs. TAFI - Expense Ratio Comparison
CRQ.NEO has a 0.72% expense ratio, which is higher than TAFI's 0.27% expense ratio.
Dividends
CRQ.NEO vs. TAFI - Dividend Comparison
CRQ.NEO's dividend yield for the trailing twelve months is around 1.87%, less than TAFI's 3.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CRQ.NEO iShares Canadian Fundamental Index ETF | 1.87% | 2.18% | 2.72% | 2.97% | 2.90% | 2.17% | 2.98% | 2.71% | 2.46% | 1.91% | 1.89% | 3.09% |
TAFI AB Tax-Aware Short Duration ETF | 3.14% | 3.21% | 3.34% | 3.27% | 0.79% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CRQ.NEO and TAFI have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TAFI is cheaper at 0.27% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TAFI is cheaper with a 0.27% expense ratio, compared with 0.72% for CRQ.NEO.
CRQ.NEO is categorized as Canada Equities, while TAFI is Municipal Bonds. They also come from different issuers: iShares and AllianceBernstein. Their fees differ too: 0.72% for CRQ.NEO and 0.27% for TAFI.
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