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RQO.TO vs. RLB.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

RQO.TO vs. RLB.TO

Last updated Jul 16, 2026
Documentation

RQO.TO (RBC Target 2026 Corporate Bond Index ETF) and RLB.TO (RBC 1-5 Year Laddered Canadian Bond ETF) are both exchange-traded funds - RQO.TO is a Corporate Bonds fund actively managed by RBC, while RLB.TO is a Total Bond Market fund actively managed by RBC. Both are actively managed. Over the past 5 years, RQO.TO returned 1.59%/yr vs 2.10%/yr for RLB.TO. At a 0.44 correlation, their price movements are largely independent.

Performance

RQO.TO vs. RLB.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in RBC Target 2026 Corporate Bond Index ETF (RQO.TO) and RBC 1-5 Year Laddered Canadian Bond ETF (RLB.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

As of year-to-date, both investments have demonstrated similar returns, with RQO.TO at 1.23% and RLB.TO at 1.23%.

RQO.TO

1D
0.05%
1M
0.24%
6M
1.17%
YTD
1.23%
1Y
2.90%
3Y*
5.11%
5Y*
1.59%
10Y*
—

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

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

2026 (YTD)202520242023202220212020
RQO.TO
RBC Target 2026 Corporate Bond Index ETF		1.23%3.57%5.40%6.86%-7.50%-2.27%0.63%
RLB.TO
RBC 1-5 Year Laddered Canadian Bond ETF		1.23%3.97%5.39%5.93%-5.15%-0.78%0.51%

Correlation

The correlation between RQO.TO and RLB.TO is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.21

Correlation (3Y)
Calculated over the trailing 3-year period

0.43

Correlation (5Y)
Calculated over the trailing 5-year period

0.47

Correlation (All Time)
Calculated using the full available price history since Sep 18, 2020

0.44

Over the past year, the correlation between RQO.TO and RLB.TO has dropped to 0.21 - well below their long-term average of 0.44, suggesting their price drivers have been diverging.

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RBC Target 2026 Corporate Bond Index ETF

RBC 1-5 Year Laddered Canadian Bond ETF

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
RQO.TO
RQO.TO Risk / Return Rank: 9898
Overall Rank
RQO.TO Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
RQO.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
RQO.TO Omega Ratio Rank: 9898
Omega Ratio Rank
RQO.TO Calmar Ratio Rank: 9999
Calmar Ratio Rank
RQO.TO Martin Ratio Rank: 9999
Martin Ratio Rank
RLB.TO
RLB.TO Risk / Return Rank: 5353
Overall Rank
RLB.TO Sharpe Ratio Rank: 5050
Sharpe Ratio Rank
RLB.TO Sortino Ratio Rank: 5151
Sortino Ratio Rank
RLB.TO Omega Ratio Rank: 5858
Omega Ratio Rank
RLB.TO Calmar Ratio Rank: 5656
Calmar Ratio Rank
RLB.TO Martin Ratio Rank: 5252
Martin Ratio Rank
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.

RQO.TO vs. RLB.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 RBC 1-5 Year Laddered Canadian Bond ETF (RLB.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.TORLB.TODifference
Sharpe ratioReturn per unit of total volatility
4.12
1.44

+2.68

Sortino ratioReturn per unit of downside risk
7.16
2.09

+5.07

Omega ratioGain probability vs. loss probability

2.05

1.29

+0.76

Calmar ratioReturn relative to maximum drawdown

27.50

2.28

+25.22

Martin ratioReturn relative to average drawdown

91.66

7.18

+84.47

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

The current RQO.TO Sharpe Ratio is 4.12, which is higher than the RLB.TO Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of RQO.TO and RLB.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.

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Drawdowns

RQO.TO vs. RLB.TO - Drawdown Comparison

The maximum RQO.TO drawdown since its inception was -12.86%, smaller than the maximum RLB.TO drawdown of -13.93%. Use the drawdown chart below to compare losses from any high point for RQO.TO and RLB.TO.

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Drawdown Indicators

RQO.TORLB.TODifference

Max Drawdown

Largest peak-to-trough decline

-12.86%

-13.93%

+1.07%

Max Drawdown (1Y)

Largest decline over 1 year

-0.11%

-1.48%

+1.37%

Max Drawdown (3Y)

Largest decline over 3 years

-0.93%

-1.48%

+0.55%

Max Drawdown (5Y)

Largest decline over 5 years

-11.65%

-7.68%

-3.97%

Max Drawdown (10Y)

Largest decline over 10 years

—

-13.93%

—

Current Drawdown

Current decline from peak

0.00%

-0.16%

+0.16%

Average Drawdown

Average peak-to-trough decline

-3.73%

-1.52%

-2.21%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.03%

0.47%

-0.44%

Volatility

RQO.TO vs. RLB.TO - Volatility Comparison

The current volatility for RBC Target 2026 Corporate Bond Index ETF (RQO.TO) is 0.15%, while RBC 1-5 Year Laddered Canadian Bond ETF (RLB.TO) has a volatility of 0.53%. This indicates that RQO.TO experiences smaller price fluctuations and is considered to be less risky than RLB.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.TORLB.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

0.15%

0.53%

-0.38%

Volatility (6M)

Calculated over the trailing 6-month period

0.47%

1.97%

-1.50%

Volatility (1Y)

Calculated over the trailing 1-year period

0.72%

2.34%

-1.62%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

2.98%

3.01%

-0.03%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

2.93%

4.40%

-1.47%

Dividends

RQO.TO vs. RLB.TO - Dividend Comparison

RQO.TO's dividend yield for the trailing twelve months is around 3.03%, less than RLB.TO's 3.47% yield.

PositionTTM2025202420232022202120202019201820172016
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%
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 RLB.TO have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

RQO.TO is categorized as Corporate Bonds, while RLB.TO is Total Bond Market.

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