RQO.TO vs. MFT.TO
RQO.TO (RBC Target 2026 Corporate Bond Index ETF) and MFT.TO (Mackenzie Floating Rate Income ETF) are both Corporate Bonds funds. Both are actively managed. Over the past 5 years, RQO.TO returned 1.59%/yr vs 3.71%/yr for MFT.TO. At a 0.06 correlation, their price movements are largely independent.
Performance
RQO.TO vs. MFT.TO - Performance Comparison
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Returns By Period
In the year-to-date period, RQO.TO achieves a 1.23% return, which is significantly lower than MFT.TO's 2.53% return.
RQO.TO
- 1D
- 0.05%
- 1M
- 0.24%
- 6M
- 1.17%
- YTD
- 1.23%
- 1Y
- 2.90%
- 3Y*
- 5.11%
- 5Y*
- 1.59%
- 10Y*
- —
MFT.TO
- 1D
- 0.00%
- 1M
- 0.67%
- 6M
- 2.08%
- YTD
- 2.53%
- 1Y
- 2.43%
- 3Y*
- 5.49%
- 5Y*
- 3.71%
- 10Y*
- 4.41%
RQO.TO vs. MFT.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
RQO.TO RBC Target 2026 Corporate Bond Index ETF | 1.23% | 3.57% | 5.40% | 6.86% | -7.50% | -2.27% | 0.63% |
MFT.TO Mackenzie Floating Rate Income ETF | 2.53% | 0.81% | 8.84% | 11.99% | -6.31% | 5.56% | 2.92% |
Correlation
The correlation between RQO.TO and MFT.TO is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Sep 18, 2020 | 0.06 |
The correlation between RQO.TO and MFT.TO shifts across timeframes, from -0.13 (1 year) to 0.06 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
RQO.TO vs. MFT.TO — Risk / Return Rank
RQO.TO
MFT.TO
RQO.TO vs. MFT.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for RBC Target 2026 Corporate Bond Index ETF (RQO.TO) and Mackenzie Floating Rate Income ETF (MFT.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.
| RQO.TO | MFT.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.18 | ||
| Sortino ratioReturn per unit of downside risk | +5.77 | ||
| Omega ratioGain probability vs. loss probability | 2.05 | 1.16 | +0.89 |
| Calmar ratioReturn relative to maximum drawdown | 27.50 | 1.84 | +25.66 |
| Martin ratioReturn relative to average drawdown | 91.66 | 4.39 | +87.27 |
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Drawdowns
RQO.TO vs. MFT.TO - Drawdown Comparison
The maximum RQO.TO drawdown since its inception was -12.86%, smaller than the maximum MFT.TO drawdown of -20.87%. Use the drawdown chart below to compare losses from any high point for RQO.TO and MFT.TO.
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Drawdown Indicators
| RQO.TO | MFT.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.86% | -20.87% | +8.01% |
Max Drawdown (1Y)Largest decline over 1 year | -0.11% | -1.33% | +1.22% |
Max Drawdown (3Y)Largest decline over 3 years | -0.93% | -3.40% | +2.47% |
Max Drawdown (5Y)Largest decline over 5 years | -11.65% | -7.45% | -4.20% |
Max Drawdown (10Y)Largest decline over 10 years | — | -20.87% | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -3.73% | -1.38% | -2.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.03% | 0.55% | -0.52% |
Volatility
RQO.TO vs. MFT.TO - Volatility Comparison
The current volatility for RBC Target 2026 Corporate Bond Index ETF (RQO.TO) is 0.15%, while Mackenzie Floating Rate Income ETF (MFT.TO) has a volatility of 0.79%. This indicates that RQO.TO experiences smaller price fluctuations and is considered to be less risky than MFT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RQO.TO | MFT.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.15% | 0.79% | -0.64% |
Volatility (6M)Calculated over the trailing 6-month period | 0.47% | 1.80% | -1.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.72% | 2.61% | -1.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.98% | 3.71% | -0.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.93% | 5.10% | -2.17% |
Dividends
RQO.TO vs. MFT.TO - Dividend Comparison
RQO.TO's dividend yield for the trailing twelve months is around 3.03%, less than MFT.TO's 8.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
MFT.TO Mackenzie Floating Rate Income ETF | 8.29% | 8.57% | 9.44% | 10.40% | 6.26% | 3.89% | 6.18% | 6.97% | 6.14% | 4.84% | 3.94% |
RQO.TO RBC Target 2026 Corporate Bond Index ETF | 3.03% | 2.66% | 2.56% | 1.98% | 1.86% | 1.97% | 0.52% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
RQO.TO and MFT.TO have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: RBC and Mackenzie.
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