RCDB.NEO vs. ZSDB.TO
RCDB.NEO (RBC Canadian Discount Bond ETF) and ZSDB.TO (BMO Short-Term Discount Bond ETF) are both Short-Term Bond funds. Both are actively managed. Over the past 3 years, RCDB.NEO returned 4.84%/yr vs 4.81%/yr for ZSDB.TO. At a 0.45 correlation, their price movements are largely independent. RCDB.NEO charges 0.17%/yr vs 0.09%/yr for ZSDB.TO.
Performance
RCDB.NEO vs. ZSDB.TO - Performance Comparison
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Returns By Period
In the year-to-date period, RCDB.NEO achieves a 1.15% return, which is significantly higher than ZSDB.TO's 0.74% return.
RCDB.NEO
- 1D
- 0.00%
- 1M
- 1.09%
- YTD
- 1.15%
- 6M
- 0.91%
- 1Y
- 3.01%
- 3Y*
- 4.84%
- 5Y*
- 2.25%
- 10Y*
- —
ZSDB.TO
- 1D
- -0.03%
- 1M
- 0.86%
- YTD
- 0.74%
- 6M
- 0.77%
- 1Y
- 2.82%
- 3Y*
- 4.81%
- 5Y*
- —
- 10Y*
- —
RCDB.NEO vs. ZSDB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
RCDB.NEO RBC Canadian Discount Bond ETF | 1.15% | 3.75% | 5.58% | 5.68% | -2.98% |
ZSDB.TO BMO Short-Term Discount Bond ETF | 0.74% | 3.93% | 5.94% | 4.67% | -2.83% |
Correlation
The correlation between RCDB.NEO and ZSDB.TO is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Jan 28, 2022 | 0.45 |
The correlation between RCDB.NEO and ZSDB.TO shifts across timeframes, from 0.45 (all time) to 0.58 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
RCDB.NEO vs. ZSDB.TO — Risk / Return Rank
RCDB.NEO
ZSDB.TO
RCDB.NEO vs. ZSDB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for RBC Canadian Discount Bond ETF (RCDB.NEO) and BMO Short-Term Discount Bond ETF (ZSDB.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.
| RCDB.NEO | ZSDB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | -0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.29 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.91 | 1.99 | -0.09 |
| Martin ratioReturn relative to average drawdown | 6.47 | 6.59 | -0.12 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| RCDB.NEO | ZSDB.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.29 | 1.53 | -0.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.80 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 1.17 | -0.72 |
Drawdowns
RCDB.NEO vs. ZSDB.TO - Drawdown Comparison
The maximum RCDB.NEO drawdown since its inception was -8.31%, which is greater than ZSDB.TO's maximum drawdown of -4.88%. Use the drawdown chart below to compare losses from any high point for RCDB.NEO and ZSDB.TO.
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Drawdown Indicators
| RCDB.NEO | ZSDB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.31% | -4.88% | -3.43% |
Max Drawdown (1Y)Largest decline over 1 year | -1.59% | -1.44% | -0.15% |
Max Drawdown (3Y)Largest decline over 3 years | -1.59% | -1.44% | -0.15% |
Max Drawdown (5Y)Largest decline over 5 years | -6.90% | — | — |
Current DrawdownCurrent decline from peak | -0.03% | -0.18% | +0.15% |
Average DrawdownAverage peak-to-trough decline | -1.41% | -0.72% | -0.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.47% | 0.43% | +0.04% |
Volatility
RCDB.NEO vs. ZSDB.TO - Volatility Comparison
RBC Canadian Discount Bond ETF (RCDB.NEO) has a higher volatility of 0.67% compared to BMO Short-Term Discount Bond ETF (ZSDB.TO) at 0.63%. This indicates that RCDB.NEO's price experiences larger fluctuations and is considered to be riskier than ZSDB.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 | ZSDB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.67% | 0.63% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 1.84% | 1.58% | +0.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.35% | 1.89% | +0.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.83% | 3.52% | -0.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.48% | 3.52% | +1.96% |
RCDB.NEO vs. ZSDB.TO - Expense Ratio Comparison
RCDB.NEO has a 0.17% expense ratio, which is higher than ZSDB.TO's 0.09% 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. ZSDB.TO - Dividend Comparison
RCDB.NEO's dividend yield for the trailing twelve months is around 2.11%, more than ZSDB.TO's 1.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
RCDB.NEO RBC Canadian Discount Bond ETF | 2.11% | 1.96% | 1.58% | 1.22% | 1.16% | 1.33% | 1.68% | 0.78% |
ZSDB.TO BMO Short-Term Discount Bond ETF | 1.30% | 1.28% | 1.35% | 1.77% | 1.77% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
RCDB.NEO and ZSDB.TO have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZSDB.TO is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZSDB.TO is cheaper with a 0.09% expense ratio, compared with 0.17% for RCDB.NEO.
They also come from different issuers: RBC and BMO. Their fees differ too: 0.17% for RCDB.NEO and 0.09% for ZSDB.TO.
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