FLCI.TO vs. RQO.TO
FLCI.TO (Franklin Canadian Corporate Bond Fund ETF) and RQO.TO (RBC Target 2026 Corporate Bond Index ETF) are both Corporate Bonds funds. Both are actively managed. Over the past 5 years, FLCI.TO returned 2.15%/yr vs 1.59%/yr for RQO.TO. At a 0.28 correlation, their price movements are largely independent.
Performance
FLCI.TO vs. RQO.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with FLCI.TO having a 1.22% return and RQO.TO slightly higher at 1.23%.
FLCI.TO
- 1D
- -0.39%
- 1M
- -0.60%
- 6M
- 0.62%
- YTD
- 1.22%
- 1Y
- 5.04%
- 3Y*
- 6.62%
- 5Y*
- 2.15%
- 10Y*
- —
RQO.TO
- 1D
- 0.05%
- 1M
- 0.19%
- 6M
- 1.17%
- YTD
- 1.23%
- 1Y
- 2.74%
- 3Y*
- 5.05%
- 5Y*
- 1.59%
- 10Y*
- —
FLCI.TO vs. RQO.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
FLCI.TO Franklin Canadian Corporate Bond Fund ETF | 1.22% | 4.88% | 8.03% | 8.31% | -10.13% | -1.62% | 1.21% |
RQO.TO RBC Target 2026 Corporate Bond Index ETF | 1.23% | 3.57% | 5.40% | 6.86% | -7.50% | -2.27% | 0.63% |
Correlation
The correlation between FLCI.TO and RQO.TO is 0.08, 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 | 0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Sep 18, 2020 | 0.28 |
Over the past year, the correlation between FLCI.TO and RQO.TO has dropped to 0.08 - well below their long-term average of 0.28, suggesting their price drivers have been diverging.
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Return for Risk
FLCI.TO vs. RQO.TO — Risk / Return Rank
FLCI.TO
RQO.TO
FLCI.TO vs. RQO.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Canadian Corporate Bond Fund ETF (FLCI.TO) and RBC Target 2026 Corporate Bond Index ETF (RQO.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.
| FLCI.TO | RQO.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.67 | ||
| Sortino ratioReturn per unit of downside risk | -4.92 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.97 | -0.75 |
| Calmar ratioReturn relative to maximum drawdown | 2.23 | 25.95 | -23.72 |
| Martin ratioReturn relative to average drawdown | 6.32 | 86.01 | -79.69 |
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Drawdowns
FLCI.TO vs. RQO.TO - Drawdown Comparison
The maximum FLCI.TO drawdown since its inception was -17.51%, which is greater than RQO.TO's maximum drawdown of -12.86%. Use the drawdown chart below to compare losses from any high point for FLCI.TO and RQO.TO.
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Drawdown Indicators
| FLCI.TO | RQO.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.51% | -12.86% | -4.65% |
Max Drawdown (1Y)Largest decline over 1 year | -2.27% | -0.11% | -2.16% |
Max Drawdown (3Y)Largest decline over 3 years | -3.31% | -0.93% | -2.38% |
Max Drawdown (5Y)Largest decline over 5 years | -14.63% | -11.65% | -2.98% |
Current DrawdownCurrent decline from peak | -1.16% | 0.00% | -1.16% |
Average DrawdownAverage peak-to-trough decline | -3.29% | -3.72% | +0.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.80% | 0.03% | +0.77% |
Volatility
FLCI.TO vs. RQO.TO - Volatility Comparison
Franklin Canadian Corporate Bond Fund ETF (FLCI.TO) has a higher volatility of 1.77% compared to RBC Target 2026 Corporate Bond Index ETF (RQO.TO) at 0.16%. This indicates that FLCI.TO's price experiences larger fluctuations and is considered to be riskier than RQO.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLCI.TO | RQO.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.77% | 0.16% | +1.61% |
Volatility (6M)Calculated over the trailing 6-month period | 3.24% | 0.48% | +2.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.10% | 0.70% | +3.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.67% | 2.98% | +2.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.47% | 2.93% | +3.54% |
Dividends
FLCI.TO vs. RQO.TO - Dividend Comparison
FLCI.TO's dividend yield for the trailing twelve months is around 4.47%, more than RQO.TO's 3.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FLCI.TO Franklin Canadian Corporate Bond Fund ETF | 4.47% | 4.26% | 4.41% | 4.09% | 4.95% | 3.07% | 2.99% | 3.68% | 3.87% | 0.84% |
RQO.TO RBC Target 2026 Corporate Bond Index ETF | 3.03% | 2.66% | 2.56% | 1.98% | 1.86% | 1.97% | 0.52% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FLCI.TO and RQO.TO have a correlation of 0.08, 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: Franklin and RBC.
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