QSB.TO vs. TCSB.TO
QSB.TO (Mackenzie Canadian Short-Term Bond Index ETF) and TCSB.TO (TD Select Short Term Corporate Bond Ladder ETF) are both Short-Term Bond funds. Both are actively managed. Over the past 5 years, QSB.TO returned 2.19%/yr vs 2.98%/yr for TCSB.TO. At a 0.29 correlation, their price movements are largely independent.
Performance
QSB.TO vs. TCSB.TO - 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 TCSB.TO's 1.49% 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*
- —
TCSB.TO
- 1D
- 0.14%
- 1M
- 0.03%
- 6M
- 1.22%
- YTD
- 1.49%
- 1Y
- 4.14%
- 3Y*
- 5.97%
- 5Y*
- 2.98%
- 10Y*
- —
QSB.TO vs. TCSB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
QSB.TO Mackenzie Canadian Short-Term Bond Index ETF | 1.16% | 3.74% | 5.59% | 5.22% | -3.90% | -1.16% | 4.58% | 4.15% | 0.34% |
TCSB.TO TD Select Short Term Corporate Bond Ladder ETF | 1.49% | 4.71% | 6.89% | 6.95% | -4.39% | 0.14% | 5.36% | 5.72% | 0.13% |
Correlation
The correlation between QSB.TO and TCSB.TO is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Nov 14, 2018 | 0.29 |
The correlation between QSB.TO and TCSB.TO shifts across timeframes, from 0.29 (all time) to 0.44 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
QSB.TO vs. TCSB.TO — Risk / Return Rank
QSB.TO
TCSB.TO
QSB.TO vs. TCSB.TO - 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 TD Select Short Term Corporate Bond Ladder ETF (TCSB.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.
| QSB.TO | TCSB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.35 | ||
| Sortino ratioReturn per unit of downside risk | -0.57 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.38 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.56 | 2.53 | +0.02 |
| Martin ratioReturn relative to average drawdown | 8.60 | 10.87 | -2.28 |
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Drawdowns
QSB.TO vs. TCSB.TO - Drawdown Comparison
The maximum QSB.TO drawdown since its inception was -6.73%, smaller than the maximum TCSB.TO drawdown of -14.90%. Use the drawdown chart below to compare losses from any high point for QSB.TO and TCSB.TO.
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Drawdown Indicators
| QSB.TO | TCSB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.73% | -14.90% | +8.17% |
Max Drawdown (1Y)Largest decline over 1 year | -1.26% | -1.64% | +0.38% |
Max Drawdown (3Y)Largest decline over 3 years | -1.26% | -1.64% | +0.38% |
Max Drawdown (5Y)Largest decline over 5 years | -6.72% | -7.23% | +0.51% |
Current DrawdownCurrent decline from peak | -0.37% | -0.27% | -0.10% |
Average DrawdownAverage peak-to-trough decline | -1.14% | -1.30% | +0.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.38% | 0.38% | 0.00% |
Volatility
QSB.TO vs. TCSB.TO - Volatility Comparison
Mackenzie Canadian Short-Term Bond Index ETF (QSB.TO) and TD Select Short Term Corporate Bond Ladder ETF (TCSB.TO) have volatilities of 0.51% and 0.49%, 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
| QSB.TO | TCSB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.51% | 0.49% | +0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 1.62% | 1.71% | -0.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.05% | 2.16% | -0.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.57% | 2.95% | -0.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.45% | 5.90% | -3.45% |
Dividends
QSB.TO vs. TCSB.TO - Dividend Comparison
QSB.TO's dividend yield for the trailing twelve months is around 2.83%, less than TCSB.TO's 3.66% 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% |
TCSB.TO TD Select Short Term Corporate Bond Ladder ETF | 3.66% | 3.65% | 4.89% | 4.97% | 2.72% | 2.37% | 3.84% | 3.00% | 0.07% |
Frequently Asked Questions
QSB.TO and TCSB.TO have a correlation of 0.44, 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 TD.
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