RCDB.NEO vs. RLB.TO
RCDB.NEO (RBC Canadian Discount Bond ETF) and RLB.TO (RBC 1-5 Year Laddered Canadian Bond ETF) are both exchange-traded funds - RCDB.NEO is a Short-Term Bond fund actively managed by RBC, while RLB.TO is a Total Bond Market fund actively managed by RBC. Both are actively managed. Over the past 5 years, RCDB.NEO returned 2.27%/yr vs 2.10%/yr for RLB.TO. At a 0.46 correlation, their price movements are largely independent.
Performance
RCDB.NEO vs. RLB.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 RLB.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*
- —
RLB.TO
- 1D
- 0.11%
- 1M
- -0.05%
- 6M
- 0.96%
- YTD
- 1.23%
- 1Y
- 3.35%
- 3Y*
- 5.06%
- 5Y*
- 2.10%
- 10Y*
- 2.15%
RCDB.NEO vs. RLB.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% |
RLB.TO RBC 1-5 Year Laddered Canadian Bond ETF | 1.23% | 3.97% | 5.39% | 5.93% | -5.15% | -0.78% | 5.76% | 0.82% |
Correlation
The correlation between RCDB.NEO and RLB.TO is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Jun 11, 2019 | 0.46 |
The correlation between RCDB.NEO and RLB.TO has been stable across timeframes, ranging from 0.46 to 0.53 - a consistent structural relationship.
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Return for Risk
RCDB.NEO vs. RLB.TO — Risk / Return Rank
RCDB.NEO
RLB.TO
RCDB.NEO vs. RLB.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 Bond ETF (RLB.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 | RLB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.29 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.25 | 2.28 | -0.03 |
| Martin ratioReturn relative to average drawdown | 7.88 | 7.18 | +0.69 |
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Drawdowns
RCDB.NEO vs. RLB.TO - Drawdown Comparison
The maximum RCDB.NEO drawdown since its inception was -8.31%, smaller than the maximum RLB.TO drawdown of -13.93%. Use the drawdown chart below to compare losses from any high point for RCDB.NEO and RLB.TO.
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Drawdown Indicators
| RCDB.NEO | RLB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.31% | -13.93% | +5.62% |
Max Drawdown (1Y)Largest decline over 1 year | -1.59% | -1.48% | -0.11% |
Max Drawdown (3Y)Largest decline over 3 years | -1.59% | -1.48% | -0.11% |
Max Drawdown (5Y)Largest decline over 5 years | -6.90% | -7.68% | +0.78% |
Max Drawdown (10Y)Largest decline over 10 years | — | -13.93% | — |
Current DrawdownCurrent decline from peak | -0.19% | -0.16% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -1.39% | -1.52% | +0.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.45% | 0.47% | -0.02% |
Volatility
RCDB.NEO vs. RLB.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 Bond ETF (RLB.TO) at 0.53%. This indicates that RCDB.NEO's price experiences larger fluctuations and is considered to be riskier than RLB.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 | RLB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.63% | 0.53% | +0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 1.69% | 1.97% | -0.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.31% | 2.34% | -0.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.84% | 3.01% | -0.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.44% | 4.40% | +1.04% |
Dividends
RCDB.NEO vs. RLB.TO - Dividend Comparison
RCDB.NEO's dividend yield for the trailing twelve months is around 2.17%, less than RLB.TO's 3.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
RLB.TO RBC 1-5 Year Laddered Canadian Bond ETF | 3.47% | 3.25% | 2.99% | 2.65% | 2.54% | 2.27% | 2.44% | 2.66% | 2.81% | 2.95% | 2.32% |
Frequently Asked Questions
RCDB.NEO and RLB.TO have a correlation of 0.50, 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 RLB.TO is Total Bond Market.
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