QBB.TO vs. CDLB.TO
QBB.TO (Mackenzie Canadian Aggregate Bond Index ETF) and CDLB.TO (CI DoubleLine Total Return Bond US$ Fund ETF C$ Hedged Series) are both exchange-traded funds - QBB.TO is a Total Bond Market fund actively managed by Mackenzie, while CDLB.TO is a Intermediate Core-Plus Bond fund actively managed by CI Global Asset Management. Both are actively managed. Over the past 5 years, QBB.TO returned 0.41%/yr vs -0.57%/yr for CDLB.TO. At a 0.18 correlation, their price movements are largely independent.
Performance
QBB.TO vs. CDLB.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, QBB.TO achieves a 0.99% return, which is significantly higher than CDLB.TO's -0.42% return.
QBB.TO
- 1D
- 0.02%
- 1M
- -0.68%
- 6M
- 0.45%
- YTD
- 0.99%
- 1Y
- 4.09%
- 3Y*
- 4.18%
- 5Y*
- 0.41%
- 10Y*
- —
CDLB.TO
- 1D
- 0.00%
- 1M
- 0.43%
- 6M
- -0.42%
- YTD
- -0.42%
- 1Y
- 2.92%
- 3Y*
- 3.31%
- 5Y*
- -0.57%
- 10Y*
- —
QBB.TO vs. CDLB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
QBB.TO Mackenzie Canadian Aggregate Bond Index ETF | 0.99% | 2.70% | 3.90% | 7.16% | -11.56% | -2.12% | 2.42% |
CDLB.TO CI DoubleLine Total Return Bond US$ Fund ETF C$ Hedged Series | -0.42% | 5.44% | 2.91% | 2.39% | -12.02% | -0.11% | 3.68% |
Correlation
The correlation between QBB.TO and CDLB.TO is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since May 8, 2020 | 0.18 |
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
QBB.TO vs. CDLB.TO — Risk / Return Rank
QBB.TO
CDLB.TO
QBB.TO vs. CDLB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Mackenzie Canadian Aggregate Bond Index ETF (QBB.TO) and CI DoubleLine Total Return Bond US$ Fund ETF C$ Hedged Series (CDLB.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.
| QBB.TO | CDLB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.22 | ||
| Sortino ratioReturn per unit of downside risk | +0.27 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.26 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.46 | 1.39 | +0.07 |
| Martin ratioReturn relative to average drawdown | 3.72 | 2.87 | +0.85 |
Loading charts...
Drawdowns
QBB.TO vs. CDLB.TO - Drawdown Comparison
The maximum QBB.TO drawdown since its inception was -16.70%, roughly equal to the maximum CDLB.TO drawdown of -16.85%. Use the drawdown chart below to compare losses from any high point for QBB.TO and CDLB.TO.
Loading charts...
Drawdown Indicators
| QBB.TO | CDLB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.70% | -16.85% | +0.15% |
Max Drawdown (1Y)Largest decline over 1 year | -2.81% | -2.11% | -0.70% |
Max Drawdown (3Y)Largest decline over 3 years | -4.21% | -5.32% | +1.11% |
Max Drawdown (5Y)Largest decline over 5 years | -15.32% | -16.85% | +1.53% |
Current DrawdownCurrent decline from peak | -1.16% | -3.30% | +2.14% |
Average DrawdownAverage peak-to-trough decline | -4.62% | -6.34% | +1.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.10% | 1.02% | +0.08% |
Volatility
QBB.TO vs. CDLB.TO - Volatility Comparison
Mackenzie Canadian Aggregate Bond Index ETF (QBB.TO) has a higher volatility of 1.10% compared to CI DoubleLine Total Return Bond US$ Fund ETF C$ Hedged Series (CDLB.TO) at 0.69%. This indicates that QBB.TO's price experiences larger fluctuations and is considered to be riskier than CDLB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| QBB.TO | CDLB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.10% | 0.69% | +0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 3.23% | 2.45% | +0.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.18% | 3.83% | +0.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.15% | 5.36% | +0.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.26% | 4.91% | +1.35% |
Dividends
QBB.TO vs. CDLB.TO - Dividend Comparison
QBB.TO's dividend yield for the trailing twelve months is around 3.16%, less than CDLB.TO's 4.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
CDLB.TO CI DoubleLine Total Return Bond US$ Fund ETF C$ Hedged Series | 4.54% | 4.45% | 4.65% | 3.87% | 2.81% | 2.38% | 1.14% | 0.00% | 0.00% |
QBB.TO Mackenzie Canadian Aggregate Bond Index ETF | 3.16% | 3.22% | 3.00% | 2.72% | 2.42% | 2.64% | 2.26% | 2.72% | 2.62% |
Frequently Asked Questions
QBB.TO and CDLB.TO have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QBB.TO is categorized as Total Bond Market, while CDLB.TO is Intermediate Core-Plus Bond. They also come from different issuers: Mackenzie and CI Global Asset Management.
Find the right allocation for QBB.TO and CDLB.TO
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