RCDB.NEO vs. CAGS.TO
RCDB.NEO (RBC Canadian Discount Bond ETF) and CAGS.TO (CI Canadian Short-Term Aggregate Bond Index ETF) are both Short-Term Bond funds. Over the past 5 years, RCDB.NEO returned 2.27%/yr vs 2.15%/yr for CAGS.TO. At a 0.16 correlation, their price movements are largely independent.
Performance
RCDB.NEO vs. CAGS.TO - Performance Comparison
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Returns By Period
In the year-to-date period, RCDB.NEO achieves a 1.36% return, which is significantly higher than CAGS.TO's 1.23% return.
RCDB.NEO
- 1D
- 0.09%
- 1M
- 0.02%
- 6M
- 1.03%
- YTD
- 1.36%
- 1Y
- 3.56%
- 3Y*
- 5.00%
- 5Y*
- 2.27%
- 10Y*
- —
CAGS.TO
- 1D
- 0.15%
- 1M
- -0.10%
- 6M
- 1.00%
- YTD
- 1.23%
- 1Y
- 3.19%
- 3Y*
- 5.04%
- 5Y*
- 2.15%
- 10Y*
- —
RCDB.NEO vs. CAGS.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
RCDB.NEO RBC Canadian Discount Bond ETF | 1.36% | 3.75% | 5.58% | 5.68% | -4.07% | -0.68% | 5.61% | 0.58% |
CAGS.TO CI Canadian Short-Term Aggregate Bond Index ETF | 1.23% | 3.95% | 6.07% | 5.02% | -4.30% | -1.22% | 4.47% | 1.05% |
Correlation
The correlation between RCDB.NEO and CAGS.TO is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Jun 11, 2019 | 0.16 |
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Return for Risk
RCDB.NEO vs. CAGS.TO — Risk / Return Rank
RCDB.NEO
CAGS.TO
RCDB.NEO vs. CAGS.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for RBC Canadian Discount Bond ETF (RCDB.NEO) and CI Canadian Short-Term Aggregate Bond Index ETF (CAGS.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.
| RCDB.NEO | CAGS.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | +0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.31 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.25 | 2.40 | -0.15 |
| Martin ratioReturn relative to average drawdown | 7.88 | 7.27 | +0.61 |
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Drawdowns
RCDB.NEO vs. CAGS.TO - Drawdown Comparison
The maximum RCDB.NEO drawdown since its inception was -8.31%, smaller than the maximum CAGS.TO drawdown of -11.60%. Use the drawdown chart below to compare losses from any high point for RCDB.NEO and CAGS.TO.
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Drawdown Indicators
| RCDB.NEO | CAGS.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.31% | -11.60% | +3.29% |
Max Drawdown (1Y)Largest decline over 1 year | -1.59% | -1.33% | -0.26% |
Max Drawdown (3Y)Largest decline over 3 years | -1.59% | -1.33% | -0.26% |
Max Drawdown (5Y)Largest decline over 5 years | -6.90% | -7.58% | +0.68% |
Current DrawdownCurrent decline from peak | -0.19% | -0.23% | +0.04% |
Average DrawdownAverage peak-to-trough decline | -1.39% | -1.45% | +0.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.45% | 0.44% | +0.01% |
Volatility
RCDB.NEO vs. CAGS.TO - Volatility Comparison
The current volatility for RBC Canadian Discount Bond ETF (RCDB.NEO) is 0.63%, while CI Canadian Short-Term Aggregate Bond Index ETF (CAGS.TO) has a volatility of 0.71%. This indicates that RCDB.NEO experiences smaller price fluctuations and is considered to be less risky than CAGS.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RCDB.NEO | CAGS.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.63% | 0.71% | -0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 1.69% | 1.62% | +0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.31% | 2.07% | +0.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.84% | 2.76% | +0.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.44% | 4.63% | +0.81% |
Dividends
RCDB.NEO vs. CAGS.TO - Dividend Comparison
RCDB.NEO's dividend yield for the trailing twelve months is around 2.17%, less than CAGS.TO's 3.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
CAGS.TO CI Canadian Short-Term Aggregate Bond Index ETF | 3.28% | 3.16% | 3.37% | 2.62% | 2.61% | 1.96% | 2.59% | 2.83% | 2.72% | 1.06% |
RCDB.NEO RBC Canadian Discount Bond ETF | 2.17% | 1.96% | 1.58% | 1.22% | 1.16% | 1.33% | 1.68% | 0.78% | 0.00% | 0.00% |
Frequently Asked Questions
RCDB.NEO and CAGS.TO have a correlation of 0.19, 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: RBC and CI.
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