RCDB.NEO vs. RBNK.TO
RCDB.NEO (RBC Canadian Discount Bond ETF) and RBNK.TO (RBC Canadian Bank Yield Index ETF) are both exchange-traded funds - RCDB.NEO is a Short-Term Bond fund actively managed by RBC, while RBNK.TO is a Financials Equities fund tracking the Solactive Canada Bank Yield Index. RCDB.NEO is actively managed, while RBNK.TO is passively managed. Over the past 5 years, RCDB.NEO returned 2.24%/yr vs 17.93%/yr for RBNK.TO. At a 0.04 correlation, their price movements are largely independent. RCDB.NEO charges 0.17%/yr vs 0.32%/yr for RBNK.TO.
Performance
RCDB.NEO vs. RBNK.TO - Performance Comparison
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Returns By Period
In the year-to-date period, RCDB.NEO achieves a 1.10% return, which is significantly lower than RBNK.TO's 21.81% return.
RCDB.NEO
- 1D
- -0.05%
- 1M
- 0.85%
- YTD
- 1.10%
- 6M
- 0.91%
- 1Y
- 2.92%
- 3Y*
- 4.91%
- 5Y*
- 2.24%
- 10Y*
- —
RBNK.TO
- 1D
- 1.56%
- 1M
- 7.59%
- YTD
- 21.81%
- 6M
- 25.07%
- 1Y
- 63.75%
- 3Y*
- 33.85%
- 5Y*
- 17.93%
- 10Y*
- —
RCDB.NEO vs. RBNK.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
RCDB.NEO RBC Canadian Discount Bond ETF | 1.10% | 3.75% | 5.58% | 5.68% | -4.07% | -0.68% | 5.61% | 0.58% |
RBNK.TO RBC Canadian Bank Yield Index ETF | 21.81% | 44.94% | 22.08% | 11.01% | -13.14% | 40.30% | 3.34% | 7.64% |
Correlation
The correlation between RCDB.NEO and RBNK.TO 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 | 0.20 |
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 | 0.04 |
The correlation between RCDB.NEO and RBNK.TO shifts across timeframes, from 0.04 (all time) to 0.20 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
RCDB.NEO vs. RBNK.TO — Risk / Return Rank
RCDB.NEO
RBNK.TO
RCDB.NEO vs. RBNK.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for RBC Canadian Discount Bond ETF (RCDB.NEO) and RBC Canadian Bank Yield Index ETF (RBNK.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.
| RCDB.NEO | RBNK.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.53 | ||
| Sortino ratioReturn per unit of downside risk | -4.57 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.89 | -0.66 |
| Calmar ratioReturn relative to maximum drawdown | 1.84 | 7.05 | -5.21 |
| Martin ratioReturn relative to average drawdown | 6.29 | 30.40 | -24.12 |
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
| RCDB.NEO | RBNK.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.25 | 4.78 | -3.53 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.79 | 1.30 | -0.50 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.82 | -0.37 |
Drawdowns
RCDB.NEO vs. RBNK.TO - Drawdown Comparison
The maximum RCDB.NEO drawdown since its inception was -8.31%, smaller than the maximum RBNK.TO drawdown of -39.08%. Use the drawdown chart below to compare losses from any high point for RCDB.NEO and RBNK.TO.
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Drawdown Indicators
| RCDB.NEO | RBNK.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.31% | -39.08% | +30.77% |
Max Drawdown (1Y)Largest decline over 1 year | -1.59% | -9.08% | +7.49% |
Max Drawdown (3Y)Largest decline over 3 years | -1.59% | -14.87% | +13.28% |
Max Drawdown (5Y)Largest decline over 5 years | -6.90% | -28.64% | +21.74% |
Current DrawdownCurrent decline from peak | -0.08% | 0.00% | -0.08% |
Average DrawdownAverage peak-to-trough decline | -1.41% | -7.55% | +6.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.47% | 2.10% | -1.63% |
Volatility
RCDB.NEO vs. RBNK.TO - Volatility Comparison
The current volatility for RBC Canadian Discount Bond ETF (RCDB.NEO) is 0.66%, while RBC Canadian Bank Yield Index ETF (RBNK.TO) has a volatility of 5.21%. This indicates that RCDB.NEO experiences smaller price fluctuations and is considered to be less risky than RBNK.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 | RBNK.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.66% | 5.21% | -4.55% |
Volatility (6M)Calculated over the trailing 6-month period | 1.84% | 11.66% | -9.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.34% | 13.40% | -11.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.83% | 13.91% | -11.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.48% | 18.22% | -12.74% |
RCDB.NEO vs. RBNK.TO - Expense Ratio Comparison
RCDB.NEO has a 0.17% expense ratio, which is lower than RBNK.TO's 0.32% expense ratio.
Dividends
RCDB.NEO vs. RBNK.TO - Dividend Comparison
RCDB.NEO's dividend yield for the trailing twelve months is around 2.11%, less than RBNK.TO's 2.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
RBNK.TO RBC Canadian Bank Yield Index ETF | 2.92% | 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
RCDB.NEO and RBNK.TO 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.
RCDB.NEO is categorized as Short-Term Bond, while RBNK.TO is Financials Equities. Their fees differ too: 0.17% for RCDB.NEO and 0.32% for RBNK.TO.
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