RIFI.TO vs. CCBI.TO

Last updated Jul 25, 2026

RIFI.TO (Russell Investments Fixed Income Pool) and CCBI.TO (CIBC Canadian Bond Index ETF) are both Total Bond Market funds. RIFI.TO is actively managed, while CCBI.TO is passively managed. Over the past 5 years, RIFI.TO returned 0.20%/yr vs -0.50%/yr for CCBI.TO. At a 0.31 correlation, their price movements are largely independent. RIFI.TO charges 0.65%/yr vs 0.07%/yr for CCBI.TO.

Performance

RIFI.TO vs. CCBI.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Russell Investments Fixed Income Pool (RIFI.TO) and CIBC Canadian Bond Index ETF (CCBI.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RIFI.TO achieves a 0.75% return, which is significantly lower than CCBI.TO's 0.83% return.

RIFI.TO

• 1D: 0.17%
• 1M: -1.41%
• 6M: 0.42%
• YTD: 0.75%
• 1Y: 3.61%
• 3Y*: 4.19%
• 5Y*: 0.20%
• 10Y*: —
• ALL TIME*: 1.03%

CCBI.TO

• 1D: -0.11%
• 1M: -1.48%
• 6M: 0.27%
• YTD: 0.83%
• 1Y: 3.73%
• 3Y*: 4.09%
• 5Y*: -0.50%
• 10Y*: —
• ALL TIME*: 0.75%

*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)
CCBI.TO CIBC Canadian Bond Index ETF	CA$275.96K	CA$286.08K	CA$301.22K
RIFI.TO Russell Investments Fixed Income Pool	CA$25.16K	CA$28.29K	CA$29.32K

RIFI.TO vs. CCBI.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
RIFI.TO Russell Investments Fixed Income Pool	0.75%	2.96%	4.26%	6.17%	-11.54%	2.58%
CCBI.TO CIBC Canadian Bond Index ETF	0.83%	2.17%	4.26%	4.11%	-9.05%	2.30%

Correlation

The correlation between RIFI.TO and CCBI.TO is 0.51, 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	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.41
Correlation (5Y) Calculated over the trailing 5-year period	0.32
Correlation (All Time) Calculated using the full available price history since Mar 24, 2021	0.31

The correlation between RIFI.TO and CCBI.TO shifts across timeframes, from 0.31 (all time) to 0.51 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

RIFI.TO vs. CCBI.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

RIFI.TO

RIFI.TO Risk / Return Rank: 34
RIFI.TO Sharpe Ratio Rank: 30
RIFI.TO Sortino Ratio Rank: 28
RIFI.TO Omega Ratio Rank: 38
RIFI.TO Calmar Ratio Rank: 39
RIFI.TO Martin Ratio Rank: 36

CCBI.TO

CCBI.TO Risk / Return Rank: 36
CCBI.TO Sharpe Ratio Rank: 35
CCBI.TO Sortino Ratio Rank: 34
CCBI.TO Omega Ratio Rank: 37
CCBI.TO Calmar Ratio Rank: 39
CCBI.TO Martin Ratio Rank: 34

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

RIFI.TO vs. CCBI.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Russell Investments Fixed Income Pool (RIFI.TO) and CIBC Canadian Bond Index ETF (CCBI.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.

	RIFI.TO	CCBI.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.75	0.88	-0.14
Sortino ratio: Return per unit of downside risk	1.08	1.30	-0.21
Omega ratio: Gain probability vs. loss probability	1.18	1.18	0.00
Calmar ratio: Return relative to maximum drawdown	1.39	1.36	+0.03
Martin ratio: Return relative to average drawdown	3.56	3.35	+0.21

RIFI.TO vs. CCBI.TO - Sharpe Ratio Comparison

The current RIFI.TO Sharpe Ratio is 0.75, which is comparable to the CCBI.TO Sharpe Ratio of 0.88. The chart below compares the historical Sharpe Ratios of RIFI.TO and CCBI.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

RIFI.TO vs. CCBI.TO - Drawdown Comparison

The maximum RIFI.TO drawdown since its inception was -19.47%, which is greater than CCBI.TO's maximum drawdown of -17.72%. Use the drawdown chart below to compare losses from any high point for RIFI.TO and CCBI.TO.

Drawdown Indicators

	RIFI.TO	CCBI.TO	Difference
Max Drawdown Largest peak-to-trough decline	-19.47%	-17.72%	-1.75%
Max Drawdown (1Y) Largest decline over 1 year	-2.61%	-2.72%	+0.11%
Max Drawdown (3Y) Largest decline over 3 years	-4.21%	-4.34%	+0.13%
Max Drawdown (5Y) Largest decline over 5 years	-16.46%	-17.72%	+1.26%
Current Drawdown Current decline from peak	-2.96%	-2.64%	-0.32%
Average Drawdown Average peak-to-trough decline	-8.07%	-7.90%	-0.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.02%	1.10%	-0.08%

Volatility

RIFI.TO vs. CCBI.TO - Volatility Comparison

Russell Investments Fixed Income Pool (RIFI.TO) and CIBC Canadian Bond Index ETF (CCBI.TO) have volatilities of 1.12% and 1.15%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RIFI.TO	CCBI.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.12%	1.15%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	3.51%	3.34%	+0.17%
Volatility (1Y) Calculated over the trailing 1-year period	4.86%	4.20%	+0.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.80%	6.82%	-0.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.44%	6.97%	+2.47%

RIFI.TO vs. CCBI.TO - Expense Ratio Comparison

RIFI.TO has a 0.65% expense ratio, which is higher than CCBI.TO's 0.07% expense ratio.

Dividends

RIFI.TO vs. CCBI.TO - Dividend Comparison

RIFI.TO's dividend yield for the trailing twelve months is around 4.06%, more than CCBI.TO's 3.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
CCBI.TO CIBC Canadian Bond Index ETF	3.36%	3.22%	2.85%	2.78%	2.60%	1.78%	0.00%
RIFI.TO Russell Investments Fixed Income Pool	4.06%	4.04%	4.00%	3.93%	2.03%	1.82%	1.91%

Frequently Asked Questions

Can I hold both RIFI.TO and CCBI.TO in my portfolio?

RIFI.TO and CCBI.TO have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, RIFI.TO or CCBI.TO?

On fees, CCBI.TO is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, RIFI.TO or CCBI.TO?

CCBI.TO is cheaper with a 0.07% expense ratio, compared with 0.65% for RIFI.TO.

What is the main difference between RIFI.TO and CCBI.TO?

They also come from different issuers: Russell Investments Canada Limited and CIBC Asset Management Inc.. Their fees differ too: 0.65% for RIFI.TO and 0.07% for CCBI.TO.