QBB.TO vs. RLB.TO
QBB.TO (Mackenzie Canadian Aggregate Bond Index ETF) and RLB.TO (RBC 1-5 Year Laddered Canadian Bond ETF) are both Total Bond Market funds. Both are actively managed. Over the past 5 years, QBB.TO returned 0.41%/yr vs 2.10%/yr for RLB.TO. At a 0.45 correlation, their price movements are largely independent.
Performance
QBB.TO vs. RLB.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 RLB.TO's 1.23% 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*
- —
RLB.TO
- 1D
- 0.11%
- 1M
- -0.05%
- 6M
- 0.96%
- YTD
- 1.23%
- 1Y
- 3.35%
- 3Y*
- 5.06%
- 5Y*
- 2.10%
- 10Y*
- 2.15%
QBB.TO vs. RLB.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% |
RLB.TO RBC 1-5 Year Laddered Canadian Bond ETF | 1.23% | 3.97% | 5.39% | 5.93% | -5.15% | -0.78% | 5.76% | 4.54% | 1.37% |
Correlation
The correlation between QBB.TO and RLB.TO is 0.56, 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 | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2018 | 0.45 |
The correlation between QBB.TO and RLB.TO shifts across timeframes, from 0.45 (all time) to 0.56 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
QBB.TO vs. RLB.TO — Risk / Return Rank
QBB.TO
RLB.TO
QBB.TO vs. RLB.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 RBC 1-5 Year Laddered Canadian Bond ETF (RLB.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 | RLB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.45 | ||
| Sortino ratioReturn per unit of downside risk | -0.67 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.29 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.46 | 2.28 | -0.82 |
| Martin ratioReturn relative to average drawdown | 3.72 | 7.18 | -3.46 |
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Drawdowns
QBB.TO vs. RLB.TO - Drawdown Comparison
The maximum QBB.TO drawdown since its inception was -16.70%, which is greater than RLB.TO's maximum drawdown of -13.93%. Use the drawdown chart below to compare losses from any high point for QBB.TO and RLB.TO.
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Drawdown Indicators
| QBB.TO | RLB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.70% | -13.93% | -2.77% |
Max Drawdown (1Y)Largest decline over 1 year | -2.81% | -1.48% | -1.33% |
Max Drawdown (3Y)Largest decline over 3 years | -4.21% | -1.48% | -2.73% |
Max Drawdown (5Y)Largest decline over 5 years | -15.32% | -7.68% | -7.64% |
Max Drawdown (10Y)Largest decline over 10 years | — | -13.93% | — |
Current DrawdownCurrent decline from peak | -1.16% | -0.16% | -1.00% |
Average DrawdownAverage peak-to-trough decline | -4.62% | -1.52% | -3.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.10% | 0.47% | +0.63% |
Volatility
QBB.TO vs. RLB.TO - Volatility Comparison
Mackenzie Canadian Aggregate Bond Index ETF (QBB.TO) has a higher volatility of 1.10% compared to RBC 1-5 Year Laddered Canadian Bond ETF (RLB.TO) at 0.53%. This indicates that QBB.TO's price experiences larger fluctuations and is considered to be riskier than RLB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QBB.TO | RLB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.10% | 0.53% | +0.57% |
Volatility (6M)Calculated over the trailing 6-month period | 3.23% | 1.97% | +1.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.18% | 2.34% | +1.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.15% | 3.01% | +3.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.26% | 4.40% | +1.86% |
Dividends
QBB.TO vs. RLB.TO - Dividend Comparison
QBB.TO's dividend yield for the trailing twelve months is around 3.16%, less than RLB.TO's 3.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
RLB.TO RBC 1-5 Year Laddered Canadian Bond ETF | 3.47% | 3.25% | 2.99% | 2.65% | 2.54% | 2.27% | 2.44% | 2.66% | 2.81% | 2.95% | 2.32% |
Frequently Asked Questions
QBB.TO and RLB.TO have a correlation of 0.56, 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.
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