QSB.TO vs. RCDB.NEO
QSB.TO (Mackenzie Canadian Short-Term Bond Index ETF) and RCDB.NEO (RBC Canadian Discount Bond ETF) are both Short-Term Bond funds. Both are actively managed. Over the past 5 years, QSB.TO returned 2.19%/yr vs 2.27%/yr for RCDB.NEO. At a 0.31 correlation, their price movements are largely independent.
Performance
QSB.TO vs. RCDB.NEO - Performance Comparison
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Returns By Period
In the year-to-date period, QSB.TO achieves a 1.16% return, which is significantly lower than RCDB.NEO's 1.36% return.
QSB.TO
- 1D
- -0.02%
- 1M
- -0.19%
- 6M
- 0.74%
- YTD
- 1.16%
- 1Y
- 3.22%
- 3Y*
- 4.83%
- 5Y*
- 2.19%
- 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*
- —
QSB.TO vs. RCDB.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
QSB.TO Mackenzie Canadian Short-Term Bond Index ETF | 1.16% | 3.74% | 5.59% | 5.22% | -3.90% | -1.16% | 4.58% | 0.81% |
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 QSB.TO and RCDB.NEO is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Jun 11, 2019 | 0.31 |
The correlation between QSB.TO and RCDB.NEO shifts across timeframes, from 0.31 (all time) to 0.42 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
QSB.TO vs. RCDB.NEO — Risk / Return Rank
QSB.TO
RCDB.NEO
QSB.TO vs. RCDB.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Mackenzie Canadian Short-Term Bond Index ETF (QSB.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.
| QSB.TO | RCDB.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.29 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.56 | 2.25 | +0.31 |
| Martin ratioReturn relative to average drawdown | 8.60 | 7.88 | +0.72 |
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Drawdowns
QSB.TO vs. RCDB.NEO - Drawdown Comparison
The maximum QSB.TO drawdown since its inception was -6.73%, smaller than the maximum RCDB.NEO drawdown of -8.31%. Use the drawdown chart below to compare losses from any high point for QSB.TO and RCDB.NEO.
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Drawdown Indicators
| QSB.TO | RCDB.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.73% | -8.31% | +1.58% |
Max Drawdown (1Y)Largest decline over 1 year | -1.26% | -1.59% | +0.33% |
Max Drawdown (3Y)Largest decline over 3 years | -1.26% | -1.59% | +0.33% |
Max Drawdown (5Y)Largest decline over 5 years | -6.72% | -6.90% | +0.18% |
Current DrawdownCurrent decline from peak | -0.37% | -0.19% | -0.18% |
Average DrawdownAverage peak-to-trough decline | -1.14% | -1.39% | +0.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.38% | 0.45% | -0.07% |
Volatility
QSB.TO vs. RCDB.NEO - Volatility Comparison
The current volatility for Mackenzie Canadian Short-Term Bond Index ETF (QSB.TO) is 0.51%, while RBC Canadian Discount Bond ETF (RCDB.NEO) has a volatility of 0.63%. This indicates that QSB.TO experiences smaller price fluctuations and is considered to be less risky than RCDB.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QSB.TO | RCDB.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.51% | 0.63% | -0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 1.62% | 1.69% | -0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.05% | 2.31% | -0.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.57% | 2.84% | -0.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.45% | 5.44% | -2.99% |
Dividends
QSB.TO vs. RCDB.NEO - Dividend Comparison
QSB.TO's dividend yield for the trailing twelve months is around 2.83%, more than RCDB.NEO's 2.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
QSB.TO Mackenzie Canadian Short-Term Bond Index ETF | 2.83% | 2.96% | 3.13% | 2.63% | 2.02% | 2.21% | 1.60% | 2.22% | 1.91% |
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% |
Frequently Asked Questions
QSB.TO and RCDB.NEO have a correlation of 0.42, 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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