RCDB.NEO vs. XSB.TO
RCDB.NEO (RBC Canadian Discount Bond ETF) and XSB.TO (iShares Core Canadian Short Term Bond Index ETF) are both Short-Term Bond funds. RCDB.NEO is actively managed, while XSB.TO is passively managed. Over the past 5 years, RCDB.NEO returned 2.34%/yr vs 2.15%/yr for XSB.TO. A 0.68 correlation means they provide meaningful diversification when combined. RCDB.NEO charges 0.17%/yr vs 0.10%/yr for XSB.TO.
Performance
RCDB.NEO vs. XSB.TO - Performance Comparison
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Returns By Period
In the year-to-date period, RCDB.NEO achieves a 1.45% return, which is significantly higher than XSB.TO's 1.36% return.
RCDB.NEO
- 1D
- 0.28%
- 1M
- 0.59%
- YTD
- 1.45%
- 6M
- 1.36%
- 1Y
- 3.22%
- 3Y*
- 5.07%
- 5Y*
- 2.34%
- 10Y*
- —
XSB.TO
- 1D
- 0.11%
- 1M
- 0.52%
- YTD
- 1.36%
- 6M
- 1.33%
- 1Y
- 3.11%
- 3Y*
- 5.03%
- 5Y*
- 2.15%
- 10Y*
- 2.01%
RCDB.NEO vs. XSB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
RCDB.NEO RBC Canadian Discount Bond ETF | 1.45% | 3.75% | 5.58% | 5.68% | -4.07% | -0.68% | 5.61% | 0.58% |
XSB.TO iShares Core Canadian Short Term Bond Index ETF | 1.36% | 3.70% | 5.87% | 4.67% | -4.04% | -1.11% | 5.20% | 0.63% |
Correlation
The correlation between RCDB.NEO and XSB.TO is 0.60, 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 | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Jun 11, 2019 | 0.68 |
The correlation between RCDB.NEO and XSB.TO shifts across timeframes, from 0.60 (1 year) to 0.76 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
RCDB.NEO vs. XSB.TO — Risk / Return Rank
RCDB.NEO
XSB.TO
RCDB.NEO vs. XSB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for RBC Canadian Discount Bond ETF (RCDB.NEO) and iShares Core Canadian Short Term Bond Index ETF (XSB.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 | XSB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.17 | ||
| Sortino ratioReturn per unit of downside risk | -0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.30 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.03 | 2.12 | -0.08 |
| Martin ratioReturn relative to average drawdown | 6.96 | 7.02 | -0.07 |
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Drawdowns
RCDB.NEO vs. XSB.TO - Drawdown Comparison
The maximum RCDB.NEO drawdown since its inception was -8.31%, roughly equal to the maximum XSB.TO drawdown of -8.65%. Use the drawdown chart below to compare losses from any high point for RCDB.NEO and XSB.TO.
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Drawdown Indicators
| RCDB.NEO | XSB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.31% | -8.65% | +0.34% |
Max Drawdown (1Y)Largest decline over 1 year | -1.59% | -1.47% | -0.12% |
Max Drawdown (3Y)Largest decline over 3 years | -1.59% | -1.47% | -0.12% |
Max Drawdown (5Y)Largest decline over 5 years | -6.90% | -6.99% | +0.09% |
Max Drawdown (10Y)Largest decline over 10 years | — | -8.65% | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -1.40% | -0.79% | -0.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.46% | 0.44% | +0.02% |
Volatility
RCDB.NEO vs. XSB.TO - Volatility Comparison
RBC Canadian Discount Bond ETF (RCDB.NEO) has a higher volatility of 0.54% compared to iShares Core Canadian Short Term Bond Index ETF (XSB.TO) at 0.50%. This indicates that RCDB.NEO's price experiences larger fluctuations and is considered to be riskier than XSB.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 | XSB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.54% | 0.50% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 1.65% | 1.63% | +0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.33% | 2.01% | +0.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.84% | 2.72% | +0.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.46% | 3.40% | +2.06% |
RCDB.NEO vs. XSB.TO - Expense Ratio Comparison
RCDB.NEO has a 0.17% expense ratio, which is higher than XSB.TO's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
RCDB.NEO vs. XSB.TO - Dividend Comparison
RCDB.NEO's dividend yield for the trailing twelve months is around 2.17%, less than XSB.TO's 3.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
XSB.TO iShares Core Canadian Short Term Bond Index ETF | 3.10% | 3.15% | 3.05% | 2.67% | 2.28% | 2.05% | 2.21% | 2.39% | 2.39% | 2.36% | 2.36% | 2.50% |
Frequently Asked Questions
RCDB.NEO and XSB.TO have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XSB.TO is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XSB.TO is cheaper with a 0.10% expense ratio, compared with 0.17% for RCDB.NEO.
They also come from different issuers: RBC and iShares. Their fees differ too: 0.17% for RCDB.NEO and 0.10% for XSB.TO.
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