RCD.TO vs. KBWY

Last updated Jul 17, 2026

RCD.TO (RBC Quant Canadian Dividend Leaders ETF) and KBWY (Invesco KBW Premium Yield Equity REIT ETF) are both exchange-traded funds - RCD.TO is a Dividend fund managed by RBC, while KBWY is a REIT fund tracking the KBW Nasdaq Premium Yield Equity REIT Index. Over the past 10 years, RCD.TO returned 10.15%/yr vs 1.99%/yr for KBWY. At a 0.25 correlation, their price movements are largely independent. RCD.TO charges 0.43%/yr vs 0.35%/yr for KBWY.

Performance

RCD.TO vs. KBWY - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in RBC Quant Canadian Dividend Leaders ETF (RCD.TO) and Invesco KBW Premium Yield Equity REIT ETF (KBWY). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

RCD.TO is traded in CAD, while KBWY is traded in USD. To make them comparable, the KBWY values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, RCD.TO achieves a 13.27% return, which is significantly lower than KBWY's 33.31% return. Over the past 10 years, RCD.TO has outperformed KBWY with an annualized return of 10.15%, while KBWY has yielded a comparatively lower 1.99% annualized return.

RCD.TO

• 1D: 0.12%
• 1M: -0.20%
• 6M: 8.63%
• YTD: 13.27%
• 1Y: 20.90%
• 3Y*: 14.70%
• 5Y*: 10.54%
• 10Y*: 10.15%

KBWY

• 1D: 2.57%
• 1M: 6.44%
• 6M: 23.44%
• YTD: 33.31%
• 1Y: 34.22%
• 3Y*: 12.09%
• 5Y*: 6.14%
• 10Y*: 1.99%

*Multi-year figures are annualized to reflect compound growth (CAGR)

RCD.TO vs. KBWY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RCD.TO RBC Quant Canadian Dividend Leaders ETF	13.27%	22.09%	11.41%	10.95%	-2.83%	28.19%	-8.74%	32.30%	-10.87%	6.35%
KBWY Invesco KBW Premium Yield Equity REIT ETF	33.31%	-9.63%	4.69%	10.19%	-13.87%	31.16%	-27.59%	18.28%	-11.32%	-6.01%

Correlation

The correlation between RCD.TO and KBWY is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.31
Correlation (5Y) Calculated over the trailing 5-year period	0.30
Correlation (10Y) Calculated over the trailing 10-year period	0.27
Correlation (All Time) Calculated using the full available price history since Jan 15, 2014	0.25

The correlation between RCD.TO and KBWY shifts across timeframes, from 0.25 (all time) to 0.37 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

RCD.TO vs. KBWY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

RCD.TO

RCD.TO Risk / Return Rank: 56
RCD.TO Sharpe Ratio Rank: 55
RCD.TO Sortino Ratio Rank: 43
RCD.TO Omega Ratio Rank: 66
RCD.TO Calmar Ratio Rank: 61
RCD.TO Martin Ratio Rank: 55

KBWY

KBWY Risk / Return Rank: 71
KBWY Sharpe Ratio Rank: 73
KBWY Sortino Ratio Rank: 75
KBWY Omega Ratio Rank: 66
KBWY Calmar Ratio Rank: 80
KBWY Martin Ratio Rank: 59

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

RCD.TO vs. KBWY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for RBC Quant Canadian Dividend Leaders ETF (RCD.TO) and Invesco KBW Premium Yield Equity REIT ETF (KBWY). 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.

	RCD.TO	KBWY	Difference
Sharpe ratio: Return per unit of total volatility	1.51	1.97	-0.47
Sortino ratio: Return per unit of downside risk	1.81	2.78	-0.97
Omega ratio: Gain probability vs. loss probability	1.32	1.33	-0.01
Calmar ratio: Return relative to maximum drawdown	2.43	4.26	-1.83
Martin ratio: Return relative to average drawdown	7.56	9.87	-2.30

RCD.TO vs. KBWY - Sharpe Ratio Comparison

The current RCD.TO Sharpe Ratio is 1.51, which is comparable to the KBWY Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of RCD.TO and KBWY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

RCD.TO vs. KBWY - Drawdown Comparison

The maximum RCD.TO drawdown since its inception was -42.74%, smaller than the maximum KBWY drawdown of -54.40%. Use the drawdown chart below to compare losses from any high point for RCD.TO and KBWY.

Drawdown Indicators

	RCD.TO	KBWY	Difference
Max Drawdown Largest peak-to-trough decline	-42.74%	-54.40%	+11.66%
Max Drawdown (1Y) Largest decline over 1 year	-8.65%	-8.07%	-0.58%
Max Drawdown (3Y) Largest decline over 3 years	-21.67%	-26.84%	+5.17%
Max Drawdown (5Y) Largest decline over 5 years	-21.67%	-28.50%	+6.83%
Max Drawdown (10Y) Largest decline over 10 years	-42.74%	-54.40%	+11.66%
Current Drawdown Current decline from peak	-0.20%	0.00%	-0.20%
Average Drawdown Average peak-to-trough decline	-9.91%	-13.33%	+3.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.77%	3.48%	-0.71%

Volatility

RCD.TO vs. KBWY - Volatility Comparison

The current volatility for RBC Quant Canadian Dividend Leaders ETF (RCD.TO) is 2.24%, while Invesco KBW Premium Yield Equity REIT ETF (KBWY) has a volatility of 5.29%. This indicates that RCD.TO experiences smaller price fluctuations and is considered to be less risky than KBWY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RCD.TO	KBWY	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.24%	5.29%	-3.05%
Volatility (6M) Calculated over the trailing 6-month period	9.24%	12.92%	-3.68%
Volatility (1Y) Calculated over the trailing 1-year period	13.91%	17.42%	-3.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.45%	22.27%	+29.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	54.67%	27.51%	+27.16%

RCD.TO vs. KBWY - Expense Ratio Comparison

RCD.TO has a 0.43% expense ratio, which is higher than KBWY's 0.35% expense ratio.

Dividends

RCD.TO vs. KBWY - Dividend Comparison

RCD.TO's dividend yield for the trailing twelve months is around 2.96%, less than KBWY's 7.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KBWY Invesco KBW Premium Yield Equity REIT ETF	7.80%	9.79%	8.74%	7.90%	7.41%	5.05%	10.35%	6.19%	8.64%	7.25%	6.55%	5.72%
RCD.TO RBC Quant Canadian Dividend Leaders ETF	2.96%	3.32%	3.71%	4.00%	3.97%	2.76%	4.07%	3.41%	4.30%	3.55%	3.63%	3.95%

Frequently Asked Questions

Can I hold both RCD.TO and KBWY in my portfolio?

RCD.TO and KBWY have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, RCD.TO or KBWY?

On fees, KBWY is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, RCD.TO or KBWY?

KBWY is cheaper with a 0.35% expense ratio, compared with 0.43% for RCD.TO.

What is the main difference between RCD.TO and KBWY?

RCD.TO is categorized as Dividend, while KBWY is REIT. They also come from different issuers: RBC and Invesco. Their fees differ too: 0.43% for RCD.TO and 0.35% for KBWY.