MCSB.TO vs. RCDB.NEO
MCSB.TO (Mackenzie Canadian Short Term Fixed Income ETF) and RCDB.NEO (RBC Canadian Discount Bond ETF) are both Short-Term Bond funds. Both are actively managed. Over the past 5 years, MCSB.TO returned 5.00%/yr vs 2.27%/yr for RCDB.NEO. At a 0.31 correlation, their price movements are largely independent.
Performance
MCSB.TO vs. RCDB.NEO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, MCSB.TO achieves a 1.47% return, which is significantly higher than RCDB.NEO's 1.36% return.
MCSB.TO
- 1D
- 0.15%
- 1M
- 0.06%
- 6M
- 1.06%
- YTD
- 1.47%
- 1Y
- 3.36%
- 3Y*
- 5.41%
- 5Y*
- 5.00%
- 10Y*
- —
RCDB.NEO
- 1D
- 0.09%
- 1M
- 0.02%
- 6M
- 1.03%
- YTD
- 1.36%
- 1Y
- 3.56%
- 3Y*
- 5.00%
- 5Y*
- 2.27%
- 10Y*
- —
MCSB.TO vs. RCDB.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
MCSB.TO Mackenzie Canadian Short Term Fixed Income ETF | 1.47% | 3.93% | 6.41% | 5.77% | -4.18% | 11.34% | 5.66% | 0.71% |
RCDB.NEO RBC Canadian Discount Bond ETF | 1.36% | 3.75% | 5.58% | 5.68% | -4.07% | -0.68% | 5.61% | 0.58% |
Correlation
The correlation between MCSB.TO and RCDB.NEO is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Jun 11, 2019 | 0.31 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
MCSB.TO vs. RCDB.NEO — Risk / Return Rank
MCSB.TO
RCDB.NEO
MCSB.TO vs. RCDB.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Mackenzie Canadian Short Term Fixed Income ETF (MCSB.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.
| MCSB.TO | RCDB.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.29 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.27 | 2.25 | +0.01 |
| Martin ratioReturn relative to average drawdown | 6.58 | 7.88 | -1.30 |
Loading charts...
Drawdowns
MCSB.TO vs. RCDB.NEO - Drawdown Comparison
The maximum MCSB.TO drawdown since its inception was -8.35%, roughly equal to the maximum RCDB.NEO drawdown of -8.31%. Use the drawdown chart below to compare losses from any high point for MCSB.TO and RCDB.NEO.
Loading charts...
Drawdown Indicators
| MCSB.TO | RCDB.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.35% | -8.31% | -0.04% |
Max Drawdown (1Y)Largest decline over 1 year | -1.49% | -1.59% | +0.10% |
Max Drawdown (3Y)Largest decline over 3 years | -1.49% | -1.59% | +0.10% |
Max Drawdown (5Y)Largest decline over 5 years | -6.24% | -6.90% | +0.66% |
Current DrawdownCurrent decline from peak | -0.34% | -0.19% | -0.15% |
Average DrawdownAverage peak-to-trough decline | -1.05% | -1.39% | +0.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.51% | 0.45% | +0.06% |
Volatility
MCSB.TO vs. RCDB.NEO - Volatility Comparison
Mackenzie Canadian Short Term Fixed Income ETF (MCSB.TO) has a higher volatility of 0.71% compared to RBC Canadian Discount Bond ETF (RCDB.NEO) at 0.63%. This indicates that MCSB.TO's price experiences larger fluctuations and is considered to be riskier than RCDB.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| MCSB.TO | RCDB.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.71% | 0.63% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 1.62% | 1.69% | -0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.26% | 2.31% | -0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.42% | 2.84% | +3.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.83% | 5.44% | +0.39% |
Dividends
MCSB.TO vs. RCDB.NEO - Dividend Comparison
MCSB.TO's dividend yield for the trailing twelve months is around 3.12%, more than RCDB.NEO's 2.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
MCSB.TO Mackenzie Canadian Short Term Fixed Income ETF | 3.12% | 3.16% | 3.17% | 3.18% | 2.47% | 12.93% | 2.47% | 2.31% | 2.91% | 0.14% |
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
MCSB.TO and RCDB.NEO have a correlation of 0.33, 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: Mackenzie and RBC.
Find the right allocation for MCSB.TO and RCDB.NEO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer