RLB.TO vs. HBB.TO

Last updated Jul 16, 2026

RLB.TO (RBC 1-5 Year Laddered Canadian Bond ETF) and HBB.TO (Global X Canadian Select Universe Bond Index Corporate Class ETF) are both Total Bond Market funds. RLB.TO is actively managed, while HBB.TO is passively managed. Over the past 10 years, RLB.TO returned 2.15%/yr vs 1.21%/yr for HBB.TO. At a 0.45 correlation, their price movements are largely independent.

Performance

RLB.TO vs. HBB.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in RBC 1-5 Year Laddered Canadian Bond ETF (RLB.TO) and Global X Canadian Select Universe Bond Index Corporate Class ETF (HBB.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RLB.TO achieves a 1.23% return, which is significantly higher than HBB.TO's 1.06% return. Over the past 10 years, RLB.TO has outperformed HBB.TO with an annualized return of 2.15%, while HBB.TO has yielded a comparatively lower 1.21% annualized return.

RLB.TO

• 1D: 0.11%
• 1M: -0.05%
• 6M: 0.96%
• YTD: 1.23%
• 1Y: 3.35%
• 3Y*: 5.06%
• 5Y*: 2.10%
• 10Y*: 2.15%

HBB.TO

• 1D: 0.24%
• 1M: -0.51%
• 6M: 0.42%
• YTD: 1.06%
• 1Y: 3.95%
• 3Y*: 3.71%
• 5Y*: -0.04%
• 10Y*: 1.21%

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

RLB.TO vs. HBB.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RLB.TO RBC 1-5 Year Laddered Canadian Bond ETF	1.23%	3.97%	5.39%	5.93%	-5.15%	-0.78%	5.76%	4.54%	1.07%	0.54%
HBB.TO Global X Canadian Select Universe Bond Index Corporate Class ETF	1.06%	1.84%	3.96%	5.76%	-11.94%	-2.35%	8.33%	5.81%	1.19%	1.98%

Correlation

The correlation between RLB.TO and HBB.TO is 0.58, 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	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (10Y) Calculated over the trailing 10-year period	0.46
Correlation (All Time) Calculated using the full available price history since Feb 16, 2016	0.45

The correlation between RLB.TO and HBB.TO shifts across timeframes, from 0.45 (all time) to 0.58 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

RLB.TO vs. HBB.TO — Risk / Return Rank

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

RLB.TO

RLB.TO Risk / Return Rank: 53
RLB.TO Sharpe Ratio Rank: 50
RLB.TO Sortino Ratio Rank: 51
RLB.TO Omega Ratio Rank: 58
RLB.TO Calmar Ratio Rank: 56
RLB.TO Martin Ratio Rank: 52

HBB.TO

HBB.TO Risk / Return Rank: 29
HBB.TO Sharpe Ratio Rank: 29
HBB.TO Sortino Ratio Rank: 26
HBB.TO Omega Ratio Rank: 27
HBB.TO Calmar Ratio Rank: 33
HBB.TO Martin Ratio Rank: 29

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.

RLB.TO vs. HBB.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for RBC 1-5 Year Laddered Canadian Bond ETF (RLB.TO) and Global X Canadian Select Universe Bond Index Corporate Class ETF (HBB.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.

	RLB.TO	HBB.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.44	0.91	+0.54
Sortino ratio: Return per unit of downside risk	2.09	1.25	+0.85
Omega ratio: Gain probability vs. loss probability	1.29	1.16	+0.13
Calmar ratio: Return relative to maximum drawdown	2.28	1.43	+0.85
Martin ratio: Return relative to average drawdown	7.18	3.44	+3.74

RLB.TO vs. HBB.TO - Sharpe Ratio Comparison

The current RLB.TO Sharpe Ratio is 1.44, which is higher than the HBB.TO Sharpe Ratio of 0.91. The chart below compares the historical Sharpe Ratios of RLB.TO and HBB.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

RLB.TO vs. HBB.TO - Drawdown Comparison

The maximum RLB.TO drawdown since its inception was -13.93%, smaller than the maximum HBB.TO drawdown of -18.23%. Use the drawdown chart below to compare losses from any high point for RLB.TO and HBB.TO.

Drawdown Indicators

	RLB.TO	HBB.TO	Difference
Max Drawdown Largest peak-to-trough decline	-13.93%	-18.23%	+4.30%
Max Drawdown (1Y) Largest decline over 1 year	-1.48%	-2.78%	+1.30%
Max Drawdown (3Y) Largest decline over 3 years	-1.48%	-5.16%	+3.68%
Max Drawdown (5Y) Largest decline over 5 years	-7.68%	-16.19%	+8.51%
Max Drawdown (10Y) Largest decline over 10 years	-13.93%	-18.23%	+4.30%
Current Drawdown Current decline from peak	-0.16%	-3.37%	+3.21%
Average Drawdown Average peak-to-trough decline	-1.52%	-4.57%	+3.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.47%	1.15%	-0.68%

Volatility

RLB.TO vs. HBB.TO - Volatility Comparison

The current volatility for RBC 1-5 Year Laddered Canadian Bond ETF (RLB.TO) is 0.53%, while Global X Canadian Select Universe Bond Index Corporate Class ETF (HBB.TO) has a volatility of 1.20%. This indicates that RLB.TO experiences smaller price fluctuations and is considered to be less risky than HBB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RLB.TO	HBB.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.53%	1.20%	-0.67%
Volatility (6M) Calculated over the trailing 6-month period	1.97%	3.45%	-1.48%
Volatility (1Y) Calculated over the trailing 1-year period	2.34%	4.43%	-2.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.01%	6.55%	-3.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.40%	7.09%	-2.69%

Dividends

RLB.TO vs. HBB.TO - Dividend Comparison

RLB.TO's dividend yield for the trailing twelve months is around 3.47%, while HBB.TO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
HBB.TO Global X Canadian Select Universe Bond Index Corporate Class ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
RLB.TO RBC 1-5 Year Laddered Canadian Bond ETF	3.47%	3.25%	2.99%	2.65%	2.54%	2.27%	2.44%	2.66%	2.81%	2.95%	2.32%

Frequently Asked Questions

Can I hold both RLB.TO and HBB.TO in my portfolio?

RLB.TO and HBB.TO have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between RLB.TO and HBB.TO?

They also come from different issuers: RBC and Global X.