QBB.TO vs. DCU.TO
QBB.TO (Mackenzie Canadian Aggregate Bond Index ETF) and DCU.TO (Desjardins Canadian Universe Bond Index ETF) are both Total Bond Market funds. Both are actively managed. Over the past 5 years, QBB.TO returned 0.41%/yr vs 0.39%/yr for DCU.TO. A 0.54 correlation means they provide meaningful diversification when combined.
Performance
QBB.TO vs. DCU.TO - Performance Comparison
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Returns By Period
In the year-to-date period, QBB.TO achieves a 0.99% return, which is significantly lower than DCU.TO's 1.27% 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*
- —
DCU.TO
- 1D
- 0.17%
- 1M
- -0.44%
- 6M
- 0.65%
- YTD
- 1.27%
- 1Y
- 4.20%
- 3Y*
- 4.06%
- 5Y*
- 0.39%
- 10Y*
- —
QBB.TO vs. DCU.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
QBB.TO Mackenzie Canadian Aggregate Bond Index ETF | 0.99% | 2.70% | 3.90% | 7.16% | -11.56% | -2.12% | 6.73% | 7.32% | 2.61% |
DCU.TO Desjardins Canadian Universe Bond Index ETF | 1.27% | 2.19% | 3.83% | 6.53% | -11.04% | -2.76% | 8.04% | 6.70% | 0.07% |
Correlation
The correlation between QBB.TO and DCU.TO is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2018 | 0.54 |
The correlation between QBB.TO and DCU.TO shifts across timeframes, from 0.54 (all time) to 0.72 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
QBB.TO vs. DCU.TO — Risk / Return Rank
QBB.TO
DCU.TO
QBB.TO vs. DCU.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 Desjardins Canadian Universe Bond Index ETF (DCU.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 | DCU.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.20 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.46 | 1.53 | -0.07 |
| Martin ratioReturn relative to average drawdown | 3.72 | 3.78 | -0.05 |
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Drawdowns
QBB.TO vs. DCU.TO - Drawdown Comparison
The maximum QBB.TO drawdown since its inception was -16.70%, smaller than the maximum DCU.TO drawdown of -17.81%. Use the drawdown chart below to compare losses from any high point for QBB.TO and DCU.TO.
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Drawdown Indicators
| QBB.TO | DCU.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.70% | -17.81% | +1.11% |
Max Drawdown (1Y)Largest decline over 1 year | -2.81% | -2.76% | -0.05% |
Max Drawdown (3Y)Largest decline over 3 years | -4.21% | -4.43% | +0.22% |
Max Drawdown (5Y)Largest decline over 5 years | -15.32% | -15.40% | +0.08% |
Current DrawdownCurrent decline from peak | -1.16% | -1.90% | +0.74% |
Average DrawdownAverage peak-to-trough decline | -4.62% | -5.21% | +0.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.10% | 1.11% | -0.01% |
Volatility
QBB.TO vs. DCU.TO - Volatility Comparison
Mackenzie Canadian Aggregate Bond Index ETF (QBB.TO) and Desjardins Canadian Universe Bond Index ETF (DCU.TO) have volatilities of 1.10% and 1.06%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QBB.TO | DCU.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.10% | 1.06% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 3.23% | 3.29% | -0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.18% | 4.12% | +0.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.15% | 6.25% | -0.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.26% | 6.29% | -0.03% |
Dividends
QBB.TO vs. DCU.TO - Dividend Comparison
QBB.TO's dividend yield for the trailing twelve months is around 3.16%, which matches DCU.TO's 3.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DCU.TO Desjardins Canadian Universe Bond Index ETF | 3.17% | 3.07% | 2.92% | 2.58% | 3.49% | 3.00% | 2.82% | 2.79% | 2.90% | 2.12% |
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% | 0.00% |
Frequently Asked Questions
QBB.TO and DCU.TO have a correlation of 0.69, 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 Desjardins.
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