RCDB.NEO vs. RQO.TO
RCDB.NEO (RBC Canadian Discount Bond ETF) and RQO.TO (RBC Target 2026 Corporate Bond Index ETF) are both exchange-traded funds - RCDB.NEO is a Short-Term Bond fund actively managed by RBC, while RQO.TO is a Corporate Bonds fund actively managed by RBC. Both are actively managed. Over the past 5 years, RCDB.NEO returned 2.22%/yr vs 1.59%/yr for RQO.TO. A 0.55 correlation means they provide meaningful diversification when combined.
Performance
RCDB.NEO vs. RQO.TO - Performance Comparison
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Returns By Period
In the year-to-date period, RCDB.NEO achieves a 1.12% return, which is significantly lower than RQO.TO's 1.23% return.
RCDB.NEO
- 1D
- -0.23%
- 1M
- -0.07%
- 6M
- 0.93%
- YTD
- 1.12%
- 1Y
- 3.07%
- 3Y*
- 4.90%
- 5Y*
- 2.22%
- 10Y*
- —
RQO.TO
- 1D
- 0.05%
- 1M
- 0.19%
- 6M
- 1.17%
- YTD
- 1.23%
- 1Y
- 2.74%
- 3Y*
- 5.05%
- 5Y*
- 1.59%
- 10Y*
- —
RCDB.NEO vs. RQO.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
RCDB.NEO RBC Canadian Discount Bond ETF | 1.12% | 3.75% | 5.58% | 5.68% | -4.07% | -0.68% | 0.68% |
RQO.TO RBC Target 2026 Corporate Bond Index ETF | 1.23% | 3.57% | 5.40% | 6.86% | -7.50% | -2.27% | 0.63% |
Correlation
The correlation between RCDB.NEO and RQO.TO is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Sep 18, 2020 | 0.55 |
Over the past year, the correlation between RCDB.NEO and RQO.TO has dropped to 0.22 - well below their long-term average of 0.55, suggesting their price drivers have been diverging.
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Return for Risk
RCDB.NEO vs. RQO.TO — Risk / Return Rank
RCDB.NEO
RQO.TO
RCDB.NEO vs. RQO.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 Target 2026 Corporate Bond Index ETF (RQO.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 | RQO.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.57 | ||
| Sortino ratioReturn per unit of downside risk | -4.79 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.97 | -0.72 |
| Calmar ratioReturn relative to maximum drawdown | 1.94 | 25.95 | -24.00 |
| Martin ratioReturn relative to average drawdown | 6.78 | 86.01 | -79.23 |
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Drawdowns
RCDB.NEO vs. RQO.TO - Drawdown Comparison
The maximum RCDB.NEO drawdown since its inception was -8.31%, smaller than the maximum RQO.TO drawdown of -12.86%. Use the drawdown chart below to compare losses from any high point for RCDB.NEO and RQO.TO.
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Drawdown Indicators
| RCDB.NEO | RQO.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.31% | -12.86% | +4.55% |
Max Drawdown (1Y)Largest decline over 1 year | -1.59% | -0.11% | -1.48% |
Max Drawdown (3Y)Largest decline over 3 years | -1.59% | -0.93% | -0.66% |
Max Drawdown (5Y)Largest decline over 5 years | -6.90% | -11.65% | +4.75% |
Current DrawdownCurrent decline from peak | -0.42% | 0.00% | -0.42% |
Average DrawdownAverage peak-to-trough decline | -1.39% | -3.72% | +2.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.45% | 0.03% | +0.42% |
Volatility
RCDB.NEO vs. RQO.TO - Volatility Comparison
RBC Canadian Discount Bond ETF (RCDB.NEO) has a higher volatility of 0.66% compared to RBC Target 2026 Corporate Bond Index ETF (RQO.TO) at 0.16%. This indicates that RCDB.NEO's price experiences larger fluctuations and is considered to be riskier than RQO.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 | RQO.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.66% | 0.16% | +0.50% |
Volatility (6M)Calculated over the trailing 6-month period | 1.69% | 0.48% | +1.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.31% | 0.70% | +1.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.84% | 2.98% | -0.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.44% | 2.93% | +2.51% |
Dividends
RCDB.NEO vs. RQO.TO - Dividend Comparison
RCDB.NEO's dividend yield for the trailing twelve months is around 2.17%, less than RQO.TO's 3.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
RCDB.NEO RBC Canadian Discount Bond ETF | 2.17% | 1.96% | 1.58% | 1.22% | 1.16% | 1.33% | 1.68% | 0.78% |
RQO.TO RBC Target 2026 Corporate Bond Index ETF | 3.03% | 2.66% | 2.56% | 1.98% | 1.86% | 1.97% | 0.52% | 0.00% |
Frequently Asked Questions
RCDB.NEO and RQO.TO have a correlation of 0.22, 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 RQO.TO is Corporate Bonds.
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