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PSB.TO vs. RQO.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PSB.TO vs. RQO.TO

Last updated Jul 17, 2026
Documentation

PSB.TO (Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF) and RQO.TO (RBC Target 2026 Corporate Bond Index ETF) are both Corporate Bonds funds. PSB.TO is passively managed, while RQO.TO is actively managed. Over the past 5 years, PSB.TO returned 2.95%/yr vs 1.58%/yr for RQO.TO. A 0.54 correlation means they provide meaningful diversification when combined.

Performance

PSB.TO vs. RQO.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF (PSB.TO) and RBC Target 2026 Corporate Bond Index ETF (RQO.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, PSB.TO achieves a 1.60% return, which is significantly higher than RQO.TO's 1.17% return.

PSB.TO

1D
0.00%
1M
-0.01%
6M
1.04%
YTD
1.60%
1Y
4.17%
3Y*
6.10%
5Y*
2.95%
10Y*
2.71%

RQO.TO

1D
-0.05%
1M
0.19%
6M
1.12%
YTD
1.17%
1Y
2.74%
3Y*
5.07%
5Y*
1.58%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

PSB.TO vs. RQO.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
PSB.TO
Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF		1.60%4.68%7.08%6.44%-3.89%-0.97%1.02%
RQO.TO
RBC Target 2026 Corporate Bond Index ETF		1.17%3.57%5.40%6.86%-7.50%-2.27%0.63%

Correlation

The correlation between PSB.TO and RQO.TO is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.23

Correlation (3Y)
Calculated over the trailing 3-year period

0.54

Correlation (5Y)
Calculated over the trailing 5-year period

0.57

Correlation (All Time)
Calculated using the full available price history since Sep 18, 2020

0.54

Over the past year, the correlation between PSB.TO and RQO.TO has dropped to 0.23 - well below their long-term average of 0.54, suggesting their price drivers have been diverging.

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Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF

RBC Target 2026 Corporate Bond Index ETF

Often compared with PSB.TO:
PSB.TO vs. QQC-F.TOPSB.TO vs. ESG.TOPSB.TO vs. ZIC.TOPSB.TO vs. ESGC.TOPSB.TO vs. XHB.TOPSB.TO vs. EQLI.TOPSB.TO vs. EQL.TO
Often compared with RQO.TO:
RQO.TO vs. RBO.TORQO.TO vs. DXO.TORQO.TO vs. CFRN.TORQO.TO vs. FCSB.NEORQO.TO vs. MFT.TORQO.TO vs. RID.TORQO.TO vs. RLB.TO

Return for Risk

PSB.TO vs. RQO.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PSB.TO
PSB.TO Risk / Return Rank: 6161
Overall Rank
PSB.TO Sharpe Ratio Rank: 5656
Sharpe Ratio Rank
PSB.TO Sortino Ratio Rank: 5656
Sortino Ratio Rank
PSB.TO Omega Ratio Rank: 5454
Omega Ratio Rank
PSB.TO Calmar Ratio Rank: 7474
Calmar Ratio Rank
PSB.TO Martin Ratio Rank: 6666
Martin Ratio Rank
RQO.TO
RQO.TO Risk / Return Rank: 9898
Overall Rank
RQO.TO Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
RQO.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
RQO.TO Omega Ratio Rank: 9898
Omega Ratio Rank
RQO.TO Calmar Ratio Rank: 9999
Calmar Ratio Rank
RQO.TO Martin Ratio Rank: 9999
Martin Ratio Rank
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.

PSB.TO vs. RQO.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF (PSB.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.

PSB.TORQO.TODifference
Sharpe ratioReturn per unit of total volatility
1.53
3.91

-2.38

Sortino ratioReturn per unit of downside risk
2.16
6.70

-4.54

Omega ratioGain probability vs. loss probability

1.28

1.97

-0.70

Calmar ratioReturn relative to maximum drawdown

3.03

25.94

-22.92

Martin ratioReturn relative to average drawdown

9.25

86.01

-76.76

PSB.TO vs. RQO.TO - Sharpe Ratio Comparison

The current PSB.TO Sharpe Ratio is 1.53, which is lower than the RQO.TO Sharpe Ratio of 3.91. The chart below compares the historical Sharpe Ratios of PSB.TO and RQO.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.

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Drawdowns

PSB.TO vs. RQO.TO - Drawdown Comparison

The maximum PSB.TO drawdown since its inception was -13.24%, roughly equal to the maximum RQO.TO drawdown of -12.86%. Use the drawdown chart below to compare losses from any high point for PSB.TO and RQO.TO.

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Drawdown Indicators

PSB.TORQO.TODifference

Max Drawdown

Largest peak-to-trough decline

-13.24%

-12.86%

-0.38%

Max Drawdown (1Y)

Largest decline over 1 year

-1.38%

-0.11%

-1.27%

Max Drawdown (3Y)

Largest decline over 3 years

-1.89%

-0.93%

-0.96%

Max Drawdown (5Y)

Largest decline over 5 years

-7.93%

-11.65%

+3.72%

Max Drawdown (10Y)

Largest decline over 10 years

-13.24%

—

—

Current Drawdown

Current decline from peak

-0.17%

-0.05%

-0.12%

Average Drawdown

Average peak-to-trough decline

-1.00%

-3.73%

+2.73%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.45%

0.03%

+0.42%

Volatility

PSB.TO vs. RQO.TO - Volatility Comparison

Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF (PSB.TO) has a higher volatility of 0.67% compared to RBC Target 2026 Corporate Bond Index ETF (RQO.TO) at 0.16%. This indicates that PSB.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

PSB.TORQO.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

0.67%

0.16%

+0.51%

Volatility (6M)

Calculated over the trailing 6-month period

1.96%

0.48%

+1.48%

Volatility (1Y)

Calculated over the trailing 1-year period

2.75%

0.71%

+2.04%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

3.32%

2.98%

+0.34%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

4.85%

2.93%

+1.92%

Dividends

PSB.TO vs. RQO.TO - Dividend Comparison

PSB.TO's dividend yield for the trailing twelve months is around 3.20%, more than RQO.TO's 3.03% yield.

PositionTTM20252024202320222021202020192018201720162015
PSB.TO
Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF		3.20%3.18%3.12%3.09%3.13%2.91%2.74%3.00%3.37%3.61%4.01%4.04%
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%0.00%0.00%

Frequently Asked Questions

PSB.TO and RQO.TO have a correlation of 0.23, 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: Invesco and RBC.

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