RATE.TO vs. PSB.TO
RATE.TO (Arrow EC Income Advantage Alternative Fund) and PSB.TO (Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF) are both exchange-traded funds - RATE.TO is a Investment Grade Bonds fund actively managed by Arrow Capital Management Inc., while PSB.TO is a Corporate Bonds fund tracking the FTSE Canada Investment Grade 1-5 Year Laddered Corporate Bond Index. RATE.TO is actively managed, while PSB.TO is passively managed. Over the past 5 years, RATE.TO returned 4.83%/yr vs 2.81%/yr for PSB.TO. Their -0.01 correlation means they have often moved in opposite directions in the past. RATE.TO charges 2.01%/yr vs 0.28%/yr for PSB.TO.
Performance
RATE.TO vs. PSB.TO - Performance Comparison
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Returns By Period
In the year-to-date period, RATE.TO achieves a 1.38% return, which is significantly higher than PSB.TO's 1.20% return.
RATE.TO
- 1D
- -0.19%
- 1M
- 0.00%
- 6M
- 1.13%
- YTD
- 1.38%
- 1Y
- 2.80%
- 3Y*
- 5.22%
- 5Y*
- 4.83%
- 10Y*
- —
- ALL TIME*
- 4.08%
PSB.TO
- 1D
- -0.28%
- 1M
- -0.29%
- 6M
- 0.60%
- YTD
- 1.20%
- 1Y
- 2.73%
- 3Y*
- 5.91%
- 5Y*
- 2.81%
- 10Y*
- 2.66%
- ALL TIME*
- 2.77%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$50.98K | CA$68.85K | CA$87.37K | |
| CA$63.23K | CA$64.17K | CA$66.35K |
RATE.TO vs. PSB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RATE.TO Arrow EC Income Advantage Alternative Fund | 1.38% | 4.60% | 5.59% | 10.12% | 2.34% | 2.46% | 3.49% | 6.56% | -0.84% | -0.05% |
PSB.TO Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF | 1.20% | 4.68% | 7.08% | 6.44% | -3.89% | -0.97% | 6.08% | 4.25% | 1.59% | -0.21% |
Correlation
The correlation between RATE.TO and PSB.TO is 0.07, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.07 |
Correlation (3Y) Balances recent behavior with more history. | 0.00 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.02 |
Correlation (All Time) Calculated using the full available price history since Dec 4, 2017 | -0.01 |
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Return for Risk
RATE.TO vs. PSB.TO — Risk / Return Rank
RATE.TO
PSB.TO
RATE.TO vs. PSB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Arrow EC Income Advantage Alternative Fund (RATE.TO) and Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF (PSB.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.
| RATE.TO | PSB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.17 | ||
| Sortino ratioReturn per unit of downside risk | +0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.19 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.56 | 2.19 | +1.37 |
| Martin ratioReturn relative to average drawdown | 11.80 | 6.61 | +5.19 |
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Drawdowns
RATE.TO vs. PSB.TO - Drawdown Comparison
The maximum RATE.TO drawdown since its inception was -14.01%, which is greater than PSB.TO's maximum drawdown of -13.24%. Use the drawdown chart below to compare losses from any high point for RATE.TO and PSB.TO.
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Drawdown Indicators
| RATE.TO | PSB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.01% | -13.24% | -0.77% |
Max Drawdown (1Y)Largest decline over 1 year | -0.80% | -1.38% | +0.58% |
Max Drawdown (3Y)Largest decline over 3 years | -2.78% | -1.89% | -0.89% |
Max Drawdown (5Y)Largest decline over 5 years | -3.38% | -7.93% | +4.55% |
Max Drawdown (10Y)Largest decline over 10 years | — | -13.24% | — |
Current DrawdownCurrent decline from peak | -0.23% | -0.56% | +0.33% |
Average DrawdownAverage peak-to-trough decline | -0.84% | -1.00% | +0.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.24% | 0.46% | -0.22% |
Volatility
RATE.TO vs. PSB.TO - Volatility Comparison
The current volatility for Arrow EC Income Advantage Alternative Fund (RATE.TO) is 0.66%, while Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF (PSB.TO) has a volatility of 0.77%. This indicates that RATE.TO experiences smaller price fluctuations and is considered to be less risky than PSB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RATE.TO | PSB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.66% | 0.77% | -0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 1.58% | 1.93% | -0.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.25% | 2.76% | -0.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.05% | 3.32% | +0.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.73% | 4.85% | +0.88% |
RATE.TO vs. PSB.TO - Expense Ratio Comparison
RATE.TO has a 2.01% expense ratio, which is higher than PSB.TO's 0.28% expense ratio.
Dividends
RATE.TO vs. PSB.TO - Dividend Comparison
RATE.TO's dividend yield for the trailing twelve months is around 4.66%, more than PSB.TO's 3.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PSB.TO Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF | 3.22% | 3.18% | 3.12% | 3.09% | 3.13% | 2.91% | 2.74% | 3.00% | 3.37% | 3.61% | 4.01% | 4.04% |
RATE.TO Arrow EC Income Advantage Alternative Fund | 4.66% | 4.60% | 4.69% | 4.74% | 4.11% | 3.52% | 2.98% | 2.99% | 2.32% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
RATE.TO and PSB.TO have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PSB.TO is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PSB.TO is cheaper with a 0.28% expense ratio, compared with 2.01% for RATE.TO.
RATE.TO is categorized as Investment Grade Bonds, while PSB.TO is Corporate Bonds. They also come from different issuers: Arrow Capital Management Inc. and Invesco. Their fees differ too: 2.01% for RATE.TO and 0.28% for PSB.TO.
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