RCDC.TO vs. RPD.TO

Last updated Aug 1, 2026

RCDC.TO (RBC Canadian Dividend Covered Call ETF) and RPD.TO (RBC Quant European Dividend Leaders ETF) are both exchange-traded funds - RCDC.TO is a Derivative Income fund actively managed by RBC, while RPD.TO is a Europe Equities fund actively managed by RBC. Both are actively managed. Over the past 3 years, RCDC.TO returned 19.57%/yr vs 24.59%/yr for RPD.TO. Their 0.36 correlation means their historical movements had little consistent relationship. RCDC.TO charges 0.64%/yr vs 0.57%/yr for RPD.TO.

Performance

RCDC.TO vs. RPD.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in RBC Canadian Dividend Covered Call ETF (RCDC.TO) and RBC Quant European Dividend Leaders ETF (RPD.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with RCDC.TO having a 18.15% return and RPD.TO slightly higher at 18.97%.

RCDC.TO

• 1D: -0.07%
• 1M: 1.69%
• 6M: 18.27%
• YTD: 18.15%
• 1Y: 33.08%
• 3Y*: 19.57%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.89%

RPD.TO

• 1D: -0.03%
• 1M: -0.18%
• 6M: 12.39%
• YTD: 18.97%
• 1Y: 37.56%
• 3Y*: 24.59%
• 5Y*: 15.15%
• 10Y*: 10.25%
• ALL TIME*: 9.14%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
RCDC.TO RBC Canadian Dividend Covered Call ETF	CA$53.65K	CA$58.46K	CA$76.00K
RPD.TO RBC Quant European Dividend Leaders ETF	CA$54.87K	CA$141.26K	CA$90.66K

RCDC.TO vs. RPD.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
RCDC.TO RBC Canadian Dividend Covered Call ETF	18.15%	19.29%	17.27%	1.66%
RPD.TO RBC Quant European Dividend Leaders ETF	18.97%	39.81%	9.01%	13.41%

Correlation

The correlation between RCDC.TO and RPD.TO is 0.50, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.50
Correlation (3Y) Balances recent behavior with more history.	0.35
Correlation (All Time) Calculated using the full available price history since Jan 23, 2023	0.36

The correlation between RCDC.TO and RPD.TO shifts across timeframes, from 0.35 (3 years) to 0.50 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

RCDC.TO vs. RPD.TO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

RCDC.TO

RCDC.TO Risk / Return Rank: 97
RCDC.TO Sharpe Ratio Rank: 98
RCDC.TO Sortino Ratio Rank: 97
RCDC.TO Omega Ratio Rank: 97
RCDC.TO Calmar Ratio Rank: 96
RCDC.TO Martin Ratio Rank: 97

RPD.TO

RPD.TO Risk / Return Rank: 92
RPD.TO Sharpe Ratio Rank: 94
RPD.TO Sortino Ratio Rank: 94
RPD.TO Omega Ratio Rank: 93
RPD.TO Calmar Ratio Rank: 90
RPD.TO Martin Ratio Rank: 90

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

RCDC.TO vs. RPD.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for RBC Canadian Dividend Covered Call ETF (RCDC.TO) and RBC Quant European Dividend Leaders ETF (RPD.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.

	RCDC.TO	RPD.TO	Difference
Sharpe ratio: Return per unit of total volatility	3.77	2.59	+1.18
Sortino ratio: Return per unit of downside risk	5.31	3.64	+1.67
Omega ratio: Gain probability vs. loss probability	1.70	1.47	+0.23
Calmar ratio: Return relative to maximum drawdown	5.98	3.83	+2.15
Martin ratio: Return relative to average drawdown	29.64	14.59	+15.05

RCDC.TO vs. RPD.TO - Sharpe Ratio Comparison

The current RCDC.TO Sharpe Ratio is 3.77, which is higher than the RPD.TO Sharpe Ratio of 2.59. The chart below compares the historical Sharpe Ratios of RCDC.TO and RPD.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

RCDC.TO vs. RPD.TO - Drawdown Comparison

The maximum RCDC.TO drawdown since its inception was -10.88%, smaller than the maximum RPD.TO drawdown of -34.70%. Use the drawdown chart below to compare losses from any high point for RCDC.TO and RPD.TO.

Drawdown Indicators

	RCDC.TO	RPD.TO	Difference
Max Drawdown Largest peak-to-trough decline	-10.88%	-34.70%	+23.82%
Max Drawdown (1Y) Largest decline over 1 year	-5.43%	-9.48%	+4.05%
Max Drawdown (3Y) Largest decline over 3 years	-10.88%	-13.77%	+2.89%
Max Drawdown (5Y) Largest decline over 5 years	—	-26.48%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-34.70%	—
Current Drawdown Current decline from peak	-0.92%	-0.18%	-0.74%
Average Drawdown Average peak-to-trough decline	-1.81%	-6.07%	+4.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.09%	2.48%	-1.39%

Volatility

RCDC.TO vs. RPD.TO - Volatility Comparison

The current volatility for RBC Canadian Dividend Covered Call ETF (RCDC.TO) is 2.68%, while RBC Quant European Dividend Leaders ETF (RPD.TO) has a volatility of 3.76%. This indicates that RCDC.TO experiences smaller price fluctuations and is considered to be less risky than RPD.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RCDC.TO	RPD.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.68%	3.76%	-1.08%
Volatility (6M) Calculated over the trailing 6-month period	6.73%	11.81%	-5.08%
Volatility (1Y) Calculated over the trailing 1-year period	8.62%	14.01%	-5.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.07%	14.79%	-4.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.07%	15.54%	-5.47%

RCDC.TO vs. RPD.TO - Expense Ratio Comparison

RCDC.TO has a 0.64% expense ratio, which is higher than RPD.TO's 0.57% expense ratio.

Dividends

RCDC.TO vs. RPD.TO - Dividend Comparison

RCDC.TO's dividend yield for the trailing twelve months is around 6.27%, more than RPD.TO's 2.84% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RCDC.TO RBC Canadian Dividend Covered Call ETF	6.27%	6.38%	6.46%	6.49%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
RPD.TO RBC Quant European Dividend Leaders ETF	2.84%	2.97%	3.46%	3.47%	3.63%	2.37%	3.14%	5.53%	5.54%	3.01%	3.63%	3.10%

Frequently Asked Questions

Can I hold both RCDC.TO and RPD.TO in my portfolio?

RCDC.TO and RPD.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.

Which ETF is better, RCDC.TO or RPD.TO?

On fees, RPD.TO is cheaper at 0.57% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, RCDC.TO or RPD.TO?

RPD.TO is cheaper with a 0.57% expense ratio, compared with 0.64% for RCDC.TO.

What is the main difference between RCDC.TO and RPD.TO?

RCDC.TO is categorized as Derivative Income, while RPD.TO is Europe Equities. Their fees differ too: 0.64% for RCDC.TO and 0.57% for RPD.TO.