RCD.TO vs. SPDG

Last updated Jun 4, 2026

RCD.TO (RBC Quant Canadian Dividend Leaders ETF) and SPDG (SPDR Portfolio S&P Sector Neutral Dividend ETF) are both Dividend funds. Over the past year, RCD.TO returned 22.85% vs 30.28% for SPDG. At a 0.42 correlation, their price movements are largely independent. RCD.TO charges 0.43%/yr vs 0.05%/yr for SPDG.

Performance

RCD.TO vs. SPDG - 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 SPDR Portfolio S&P Sector Neutral Dividend ETF (SPDG). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

RCD.TO is traded in CAD, while SPDG is traded in USD. To make them comparable, the SPDG 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 12.09% return, which is significantly lower than SPDG's 18.18% return.

RCD.TO

• 1D: -0.79%
• 1M: 3.76%
• YTD: 12.09%
• 6M: 5.22%
• 1Y: 22.85%
• 3Y*: 16.98%
• 5Y*: 11.76%
• 10Y*: 9.66%

SPDG

• 1D: -0.26%
• 1M: 9.40%
• YTD: 18.18%
• 6M: 15.96%
• 1Y: 30.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RCD.TO vs. SPDG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
RCD.TO RBC Quant Canadian Dividend Leaders ETF	12.09%	21.74%	10.79%	5.97%
SPDG SPDR Portfolio S&P Sector Neutral Dividend ETF	18.18%	6.54%	30.55%	5.67%

Correlation

The correlation between RCD.TO and SPDG is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (All Time) Calculated using the full available price history since Sep 13, 2023	0.42

RCD.TO vs. SPDG - Sectors Allocation Comparison

Sectors	RCD.TO	SPDG
Financial Services	29.3%	12.9%
Energy	20.4%	3.3%
Basic Materials	15.7%	1.4%
Industrials	7.3%	8.5%
Technology	7.0%	35.5%
Utilities	6.1%	2.4%
Communication Services	4.6%	10.5%
Consumer Cyclical	4.0%	9.5%
Consumer Defensive	3.4%	4.7%
Real Estate	2.1%	2.2%
Healthcare	-	9.1%

Return for Risk

RCD.TO vs. SPDG — 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: 50
RCD.TO Sharpe Ratio Rank: 49
RCD.TO Sortino Ratio Rank: 39
RCD.TO Omega Ratio Rank: 60
RCD.TO Calmar Ratio Rank: 54
RCD.TO Martin Ratio Rank: 50

SPDG

SPDG Risk / Return Rank: 69
SPDG Sharpe Ratio Rank: 71
SPDG Sortino Ratio Rank: 75
SPDG Omega Ratio Rank: 69
SPDG Calmar Ratio Rank: 69
SPDG Martin Ratio Rank: 63

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. SPDG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for RBC Quant Canadian Dividend Leaders ETF (RCD.TO) and SPDR Portfolio S&P Sector Neutral Dividend ETF (SPDG). 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.

	RCD.TO	SPDG	Difference
Sharpe ratio: Return per unit of total volatility	1.69	2.49	-0.80
Sortino ratio: Return per unit of downside risk	1.99	3.61	-1.61
Omega ratio: Gain probability vs. loss probability	1.37	1.45	-0.08
Calmar ratio: Return relative to maximum drawdown	2.65	4.13	-1.48
Martin ratio: Return relative to average drawdown	8.37	15.44	-7.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RCD.TO vs. SPDG - Sharpe Ratio Comparison

The current RCD.TO Sharpe Ratio is 1.69, which is lower than the SPDG Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of RCD.TO and SPDG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	RCD.TO	SPDG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.69	2.49	-0.80
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.89	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.67	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	1.65	-1.10

Drawdowns

RCD.TO vs. SPDG - Drawdown Comparison

The maximum RCD.TO drawdown since its inception was -38.07%, which is greater than SPDG's maximum drawdown of -15.82%. Use the drawdown chart below to compare losses from any high point for RCD.TO and SPDG.

Drawdown Indicators

	RCD.TO	SPDG	Difference
Max Drawdown Largest peak-to-trough decline	-38.07%	-15.82%	-22.25%
Max Drawdown (1Y) Largest decline over 1 year	-8.67%	-7.37%	-1.30%
Max Drawdown (3Y) Largest decline over 3 years	-16.55%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-16.68%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-38.07%	—	—
Current Drawdown Current decline from peak	-0.79%	-0.26%	-0.53%
Average Drawdown Average peak-to-trough decline	-5.42%	-2.36%	-3.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.74%	1.97%	+0.77%

Volatility

RCD.TO vs. SPDG - Volatility Comparison

The current volatility for RBC Quant Canadian Dividend Leaders ETF (RCD.TO) is 2.80%, while SPDR Portfolio S&P Sector Neutral Dividend ETF (SPDG) has a volatility of 3.64%. This indicates that RCD.TO experiences smaller price fluctuations and is considered to be less risky than SPDG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RCD.TO	SPDG	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.80%	3.64%	-0.84%
Volatility (6M) Calculated over the trailing 6-month period	12.35%	9.54%	+2.81%
Volatility (1Y) Calculated over the trailing 1-year period	13.57%	12.22%	+1.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.26%	13.67%	-0.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.48%	13.67%	+0.81%

RCD.TO vs. SPDG - Expense Ratio Comparison

RCD.TO has a 0.43% expense ratio, which is higher than SPDG's 0.05% expense ratio.

Dividends

RCD.TO vs. SPDG - Dividend Comparison

RCD.TO's dividend yield for the trailing twelve months is around 2.88%, more than SPDG's 2.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RCD.TO RBC Quant Canadian Dividend Leaders ETF	2.88%	3.07%	3.17%	3.39%	3.36%	2.34%	3.45%	3.12%	3.64%	3.01%	3.08%	3.62%
SPDG SPDR Portfolio S&P Sector Neutral Dividend ETF	2.59%	2.87%	2.61%	0.90%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

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

RCD.TO and SPDG have a correlation of 0.47, 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 SPDG?

On fees, SPDG is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, RCD.TO or SPDG?

SPDG is cheaper with a 0.05% expense ratio, compared with 0.43% for RCD.TO.

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

They also come from different issuers: RBC and State Street. Their fees differ too: 0.43% for RCD.TO and 0.05% for SPDG.