RCDB.NEO vs. RBO.TO
RCDB.NEO (RBC Canadian Discount Bond ETF) and RBO.TO (RBC 1-5 Year Laddered Canadian Corporate Bond ETF) are both exchange-traded funds - RCDB.NEO is a Short-Term Bond fund actively managed by RBC, while RBO.TO is a Corporate Bonds fund actively managed by RBC. Both are actively managed. Over the past 5 years, RCDB.NEO returned 2.27%/yr vs 2.32%/yr for RBO.TO. At a 0.41 correlation, their price movements are largely independent.
Performance
RCDB.NEO vs. RBO.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with RCDB.NEO having a 1.36% return and RBO.TO slightly higher at 1.41%.
RCDB.NEO
- 1D
- 0.09%
- 1M
- 0.02%
- 6M
- 1.03%
- YTD
- 1.36%
- 1Y
- 3.56%
- 3Y*
- 5.00%
- 5Y*
- 2.27%
- 10Y*
- —
RBO.TO
- 1D
- 0.16%
- 1M
- -0.08%
- 6M
- 0.93%
- YTD
- 1.41%
- 1Y
- 3.34%
- 3Y*
- 5.41%
- 5Y*
- 2.32%
- 10Y*
- 2.40%
RCDB.NEO vs. RBO.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% |
RBO.TO RBC 1-5 Year Laddered Canadian Corporate Bond ETF | 1.41% | 4.23% | 6.06% | 6.16% | -5.32% | -1.20% | 6.09% | 1.21% |
Correlation
The correlation between RCDB.NEO and RBO.TO is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Jun 11, 2019 | 0.41 |
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Return for Risk
RCDB.NEO vs. RBO.TO — Risk / Return Rank
RCDB.NEO
RBO.TO
RCDB.NEO vs. RBO.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 1-5 Year Laddered Canadian Corporate Bond ETF (RBO.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 | RBO.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.30 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.25 | 1.92 | +0.33 |
| Martin ratioReturn relative to average drawdown | 7.88 | 6.93 | +0.95 |
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Drawdowns
RCDB.NEO vs. RBO.TO - Drawdown Comparison
The maximum RCDB.NEO drawdown since its inception was -8.31%, smaller than the maximum RBO.TO drawdown of -20.46%. Use the drawdown chart below to compare losses from any high point for RCDB.NEO and RBO.TO.
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Drawdown Indicators
| RCDB.NEO | RBO.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.31% | -20.46% | +12.15% |
Max Drawdown (1Y)Largest decline over 1 year | -1.59% | -1.75% | +0.16% |
Max Drawdown (3Y)Largest decline over 3 years | -1.59% | -1.75% | +0.16% |
Max Drawdown (5Y)Largest decline over 5 years | -6.90% | -7.89% | +0.99% |
Max Drawdown (10Y)Largest decline over 10 years | — | -20.46% | — |
Current DrawdownCurrent decline from peak | -0.19% | -0.16% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -1.39% | -1.34% | -0.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.45% | 0.48% | -0.03% |
Volatility
RCDB.NEO vs. RBO.TO - Volatility Comparison
RBC Canadian Discount Bond ETF (RCDB.NEO) has a higher volatility of 0.63% compared to RBC 1-5 Year Laddered Canadian Corporate Bond ETF (RBO.TO) at 0.41%. This indicates that RCDB.NEO's price experiences larger fluctuations and is considered to be riskier than RBO.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 | RBO.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.63% | 0.41% | +0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 1.69% | 1.81% | -0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.31% | 2.18% | +0.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.84% | 2.95% | -0.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.44% | 7.74% | -2.30% |
Dividends
RCDB.NEO vs. RBO.TO - Dividend Comparison
RCDB.NEO's dividend yield for the trailing twelve months is around 2.17%, less than RBO.TO's 3.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RBO.TO RBC 1-5 Year Laddered Canadian Corporate Bond ETF | 3.90% | 3.67% | 3.35% | 2.56% | 2.64% | 2.32% | 2.41% | 2.77% | 2.96% | 3.02% | 3.26% | 3.54% |
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% | 0.00% | 0.00% |
Frequently Asked Questions
RCDB.NEO and RBO.TO have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RCDB.NEO is categorized as Short-Term Bond, while RBO.TO is Corporate Bonds.
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