RCDB.NEO vs. RQP.TO
RCDB.NEO (RBC Canadian Discount Bond ETF) and RQP.TO (RBC Target 2027 Canadian Corporate Bond Index ETF) are both exchange-traded funds - RCDB.NEO is a Short-Term Bond fund actively managed by RBC, while RQP.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 1.75%/yr for RQP.TO. A 0.54 correlation means they provide meaningful diversification when combined.
Performance
RCDB.NEO vs. RQP.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with RCDB.NEO having a 1.36% return and RQP.TO slightly lower at 1.35%.
RCDB.NEO
- 1D
- 0.09%
- 1M
- 0.02%
- 6M
- 1.03%
- YTD
- 1.36%
- 1Y
- 3.56%
- 3Y*
- 5.00%
- 5Y*
- 2.27%
- 10Y*
- —
RQP.TO
- 1D
- 0.05%
- 1M
- 0.16%
- 6M
- 1.19%
- YTD
- 1.35%
- 1Y
- 3.41%
- 3Y*
- 5.72%
- 5Y*
- 1.75%
- 10Y*
- —
RCDB.NEO vs. RQP.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
RCDB.NEO RBC Canadian Discount Bond ETF | 1.36% | 3.75% | 5.58% | 5.68% | -4.07% | -0.68% | 0.68% |
RQP.TO RBC Target 2027 Canadian Corporate Bond Index ETF | 1.35% | 4.15% | 6.22% | 6.87% | -8.19% | -2.20% | 1.15% |
Correlation
The correlation between RCDB.NEO and RQP.TO is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Sep 18, 2020 | 0.54 |
The correlation between RCDB.NEO and RQP.TO shifts across timeframes, from 0.50 (1 year) to 0.67 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
RCDB.NEO vs. RQP.TO — Risk / Return Rank
RCDB.NEO
RQP.TO
RCDB.NEO vs. RQP.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 2027 Canadian Corporate Bond Index ETF (RQP.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 | RQP.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.41 | ||
| Sortino ratioReturn per unit of downside risk | -2.25 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.66 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | 2.25 | 5.24 | -2.99 |
| Martin ratioReturn relative to average drawdown | 7.88 | 27.52 | -19.65 |
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Drawdowns
RCDB.NEO vs. RQP.TO - Drawdown Comparison
The maximum RCDB.NEO drawdown since its inception was -8.31%, smaller than the maximum RQP.TO drawdown of -13.88%. Use the drawdown chart below to compare losses from any high point for RCDB.NEO and RQP.TO.
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Drawdown Indicators
| RCDB.NEO | RQP.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.31% | -13.88% | +5.57% |
Max Drawdown (1Y)Largest decline over 1 year | -1.59% | -0.65% | -0.94% |
Max Drawdown (3Y)Largest decline over 3 years | -1.59% | -1.46% | -0.13% |
Max Drawdown (5Y)Largest decline over 5 years | -6.90% | -12.93% | +6.03% |
Current DrawdownCurrent decline from peak | -0.19% | 0.00% | -0.19% |
Average DrawdownAverage peak-to-trough decline | -1.39% | -4.13% | +2.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.45% | 0.12% | +0.33% |
Volatility
RCDB.NEO vs. RQP.TO - Volatility Comparison
RBC Canadian Discount Bond ETF (RCDB.NEO) has a higher volatility of 0.63% compared to RBC Target 2027 Canadian Corporate Bond Index ETF (RQP.TO) at 0.33%. This indicates that RCDB.NEO's price experiences larger fluctuations and is considered to be riskier than RQP.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 | RQP.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.63% | 0.33% | +0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 1.69% | 0.85% | +0.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.31% | 1.16% | +1.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.84% | 3.86% | -1.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.44% | 3.77% | +1.67% |
Dividends
RCDB.NEO vs. RQP.TO - Dividend Comparison
RCDB.NEO's dividend yield for the trailing twelve months is around 2.17%, less than RQP.TO's 3.70% 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% |
RQP.TO RBC Target 2027 Canadian Corporate Bond Index ETF | 3.70% | 3.58% | 3.25% | 3.18% | 2.67% | 2.29% | 0.60% | 0.00% |
Frequently Asked Questions
RCDB.NEO and RQP.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 RQP.TO is Corporate Bonds.
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