RIFI.TO vs. CDLB.TO

Last updated Jul 25, 2026

RIFI.TO (Russell Investments Fixed Income Pool) and CDLB.TO (CI DoubleLine Total Return Bond US$ Fund ETF C$ Hedged Series) are both exchange-traded funds - RIFI.TO is a Total Bond Market fund actively managed by Russell Investments Canada Limited, while CDLB.TO is a Intermediate Core-Plus Bond fund actively managed by CI Global Asset Management. Both are actively managed. Over the past 5 years, RIFI.TO returned 0.20%/yr vs -0.77%/yr for CDLB.TO. At a 0.10 correlation, their price movements are largely independent. RIFI.TO charges 0.65%/yr vs 0.85%/yr for CDLB.TO.

Performance

RIFI.TO vs. CDLB.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Russell Investments Fixed Income Pool (RIFI.TO) and CI DoubleLine Total Return Bond US$ Fund ETF C$ Hedged Series (CDLB.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 higher than CDLB.TO's -0.79% 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%

CDLB.TO

• 1D: 0.00%
• 1M: -0.18%
• 6M: -0.19%
• YTD: -0.79%
• 1Y: 2.54%
• 3Y*: 3.03%
• 5Y*: -0.77%
• 10Y*: —
• ALL TIME*: 0.02%

*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)
CDLB.TO CI DoubleLine Total Return Bond US$ Fund ETF C$ Hedged Series	CA$18.24K	CA$16.16K	CA$15.64K
RIFI.TO Russell Investments Fixed Income Pool	CA$25.16K	CA$28.29K	CA$29.32K

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020
RIFI.TO Russell Investments Fixed Income Pool	0.75%	2.96%	4.26%	6.17%	-11.54%	-2.03%	-2.49%
CDLB.TO CI DoubleLine Total Return Bond US$ Fund ETF C$ Hedged Series	-0.79%	5.44%	2.59%	2.39%	-12.02%	-0.11%	3.68%

Correlation

The correlation between RIFI.TO and CDLB.TO is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.12
Correlation (All Time) Calculated using the full available price history since May 8, 2020	0.10

Return for Risk

RIFI.TO vs. CDLB.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

CDLB.TO

CDLB.TO Risk / Return Rank: 32
CDLB.TO Sharpe Ratio Rank: 28
CDLB.TO Sortino Ratio Rank: 26
CDLB.TO Omega Ratio Rank: 46
CDLB.TO Calmar Ratio Rank: 35
CDLB.TO Martin Ratio Rank: 27

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. CDLB.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Russell Investments Fixed Income Pool (RIFI.TO) and CI DoubleLine Total Return Bond US$ Fund ETF C$ Hedged Series (CDLB.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	CDLB.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.75	0.66	+0.09
Sortino ratio: Return per unit of downside risk	1.08	0.98	+0.10
Omega ratio: Gain probability vs. loss probability	1.18	1.21	-0.03
Calmar ratio: Return relative to maximum drawdown	1.39	1.21	+0.17
Martin ratio: Return relative to average drawdown	3.56	2.44	+1.12

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

The current RIFI.TO Sharpe Ratio is 0.75, which is comparable to the CDLB.TO Sharpe Ratio of 0.66. The chart below compares the historical Sharpe Ratios of RIFI.TO and CDLB.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. CDLB.TO - Drawdown Comparison

The maximum RIFI.TO drawdown since its inception was -19.47%, which is greater than CDLB.TO's maximum drawdown of -16.85%. Use the drawdown chart below to compare losses from any high point for RIFI.TO and CDLB.TO.

Drawdown Indicators

	RIFI.TO	CDLB.TO	Difference
Max Drawdown Largest peak-to-trough decline	-19.47%	-16.85%	-2.62%
Max Drawdown (1Y) Largest decline over 1 year	-2.61%	-2.11%	-0.50%
Max Drawdown (3Y) Largest decline over 3 years	-4.21%	-5.00%	+0.79%
Max Drawdown (5Y) Largest decline over 5 years	-16.46%	-16.85%	+0.39%
Current Drawdown Current decline from peak	-2.96%	-3.95%	+0.99%
Average Drawdown Average peak-to-trough decline	-8.07%	-6.43%	-1.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.02%	1.05%	-0.03%

Volatility

RIFI.TO vs. CDLB.TO - Volatility Comparison

Russell Investments Fixed Income Pool (RIFI.TO) has a higher volatility of 1.12% compared to CI DoubleLine Total Return Bond US$ Fund ETF C$ Hedged Series (CDLB.TO) at 0.97%. This indicates that RIFI.TO's price experiences larger fluctuations and is considered to be riskier than CDLB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RIFI.TO	CDLB.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.12%	0.97%	+0.15%
Volatility (6M) Calculated over the trailing 6-month period	3.51%	2.50%	+1.01%
Volatility (1Y) Calculated over the trailing 1-year period	4.86%	3.89%	+0.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.80%	5.37%	+1.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.44%	4.91%	+4.53%

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

RIFI.TO has a 0.65% expense ratio, which is lower than CDLB.TO's 0.85% expense ratio.

Dividends

RIFI.TO vs. CDLB.TO - Dividend Comparison

RIFI.TO's dividend yield for the trailing twelve months is around 4.06%, less than CDLB.TO's 4.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
CDLB.TO CI DoubleLine Total Return Bond US$ Fund ETF C$ Hedged Series	4.56%	4.45%	4.35%	3.87%	2.81%	2.38%	1.14%
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 CDLB.TO in my portfolio?

RIFI.TO and CDLB.TO have a correlation of 0.20, 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 CDLB.TO?

On fees, RIFI.TO is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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

RIFI.TO is cheaper with a 0.65% expense ratio, compared with 0.85% for CDLB.TO.

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

RIFI.TO is categorized as Total Bond Market, while CDLB.TO is Intermediate Core-Plus Bond. They also come from different issuers: Russell Investments Canada Limited and CI Global Asset Management. Their fees differ too: 0.65% for RIFI.TO and 0.85% for CDLB.TO.