RBNK.TO vs. RCDB.NEO
RBNK.TO (RBC Canadian Bank Yield Index ETF) and RCDB.NEO (RBC Canadian Discount Bond ETF) are both exchange-traded funds - RBNK.TO is a Financials Equities fund tracking the Solactive Canada Bank Yield Index, while RCDB.NEO is a Short-Term Bond fund actively managed by RBC. RBNK.TO is passively managed, while RCDB.NEO is actively managed. Over the past 5 years, RBNK.TO returned 17.57%/yr vs 2.25%/yr for RCDB.NEO. At a 0.05 correlation, their price movements are largely independent. RBNK.TO charges 0.32%/yr vs 0.17%/yr for RCDB.NEO.
Performance
RBNK.TO vs. RCDB.NEO - Performance Comparison
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Returns By Period
In the year-to-date period, RBNK.TO achieves a 19.94% return, which is significantly higher than RCDB.NEO's 1.15% return.
RBNK.TO
- 1D
- -0.56%
- 1M
- 6.40%
- YTD
- 19.94%
- 6M
- 24.92%
- 1Y
- 60.94%
- 3Y*
- 32.53%
- 5Y*
- 17.57%
- 10Y*
- —
RCDB.NEO
- 1D
- 0.00%
- 1M
- 1.09%
- YTD
- 1.15%
- 6M
- 0.91%
- 1Y
- 3.01%
- 3Y*
- 4.84%
- 5Y*
- 2.25%
- 10Y*
- —
RBNK.TO vs. RCDB.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
RBNK.TO RBC Canadian Bank Yield Index ETF | 19.94% | 44.94% | 22.08% | 11.01% | -13.14% | 40.30% | 3.34% | 7.64% |
RCDB.NEO RBC Canadian Discount Bond ETF | 1.15% | 3.75% | 5.58% | 5.68% | -4.07% | -0.68% | 5.61% | 0.58% |
Correlation
The correlation between RBNK.TO and RCDB.NEO is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Jun 12, 2019 | 0.05 |
The correlation between RBNK.TO and RCDB.NEO shifts across timeframes, from 0.05 (all time) to 0.21 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
RBNK.TO vs. RCDB.NEO — Risk / Return Rank
RBNK.TO
RCDB.NEO
RBNK.TO vs. RCDB.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for RBC Canadian Bank Yield Index ETF (RBNK.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.
| RBNK.TO | RCDB.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.30 | ||
| Sortino ratioReturn per unit of downside risk | +4.29 | ||
| Omega ratioGain probability vs. loss probability | 1.85 | 1.24 | +0.62 |
| Calmar ratioReturn relative to maximum drawdown | 6.74 | 1.91 | +4.84 |
| Martin ratioReturn relative to average drawdown | 29.06 | 6.47 | +22.59 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| RBNK.TO | RCDB.NEO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.59 | 1.29 | +3.30 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.27 | 0.80 | +0.47 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.81 | 0.45 | +0.36 |
Drawdowns
RBNK.TO vs. RCDB.NEO - Drawdown Comparison
The maximum RBNK.TO drawdown since its inception was -39.08%, which is greater than RCDB.NEO's maximum drawdown of -8.31%. Use the drawdown chart below to compare losses from any high point for RBNK.TO and RCDB.NEO.
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Drawdown Indicators
| RBNK.TO | RCDB.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.08% | -8.31% | -30.77% |
Max Drawdown (1Y)Largest decline over 1 year | -9.08% | -1.59% | -7.49% |
Max Drawdown (3Y)Largest decline over 3 years | -14.87% | -1.59% | -13.28% |
Max Drawdown (5Y)Largest decline over 5 years | -28.64% | -6.90% | -21.74% |
Current DrawdownCurrent decline from peak | -1.37% | -0.03% | -1.34% |
Average DrawdownAverage peak-to-trough decline | -7.55% | -1.41% | -6.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.10% | 0.47% | +1.63% |
Volatility
RBNK.TO vs. RCDB.NEO - Volatility Comparison
RBC Canadian Bank Yield Index ETF (RBNK.TO) has a higher volatility of 5.06% compared to RBC Canadian Discount Bond ETF (RCDB.NEO) at 0.67%. This indicates that RBNK.TO's price experiences larger fluctuations and is considered to be riskier 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
| RBNK.TO | RCDB.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.06% | 0.67% | +4.39% |
Volatility (6M)Calculated over the trailing 6-month period | 11.66% | 1.84% | +9.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.33% | 2.35% | +10.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.90% | 2.83% | +11.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.21% | 5.48% | +12.73% |
RBNK.TO vs. RCDB.NEO - Expense Ratio Comparison
RBNK.TO has a 0.32% expense ratio, which is higher than RCDB.NEO's 0.17% expense ratio.
Dividends
RBNK.TO vs. RCDB.NEO - Dividend Comparison
RBNK.TO's dividend yield for the trailing twelve months is around 2.97%, more than RCDB.NEO's 2.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
RBNK.TO RBC Canadian Bank Yield Index ETF | 2.97% | 3.39% | 4.50% | 4.77% | 4.49% | 3.07% | 4.18% | 3.86% | 4.06% | 0.56% |
RCDB.NEO RBC Canadian Discount Bond ETF | 2.11% | 1.96% | 1.58% | 1.22% | 1.16% | 1.33% | 1.68% | 0.78% | 0.00% | 0.00% |
Frequently Asked Questions
RBNK.TO and RCDB.NEO have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, RCDB.NEO is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.
RCDB.NEO is cheaper with a 0.17% expense ratio, compared with 0.32% for RBNK.TO.
RBNK.TO is categorized as Financials Equities, while RCDB.NEO is Short-Term Bond. Their fees differ too: 0.32% for RBNK.TO and 0.17% for RCDB.NEO.
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