RQP.TO vs. ESGB.TO

Last updated Aug 4, 2026

RQP.TO (RBC Target 2027 Canadian Corporate Bond Index ETF) and ESGB.TO (BMO ESG Corporate Bond Index ETF) are both exchange-traded funds - RQP.TO is a Short-Term Bond fund tracking the FTSE Canada 2027 Maturity Corporate Bond Index, while ESGB.TO is a Corporate Bonds fund tracking the Bloomberg MSCI Canadian Corporate Sustainability SRI Index. Both are passively managed. Over the past 5 years, RQP.TO returned 1.73%/yr vs 1.75%/yr for ESGB.TO. Their 0.41 correlation means their historical movements had little consistent relationship. RQP.TO charges 0.22%/yr vs 0.17%/yr for ESGB.TO.

Performance

RQP.TO vs. ESGB.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in RBC Target 2027 Canadian Corporate Bond Index ETF (RQP.TO) and BMO ESG Corporate Bond Index ETF (ESGB.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RQP.TO achieves a 1.46% return, which is significantly higher than ESGB.TO's 0.83% return.

RQP.TO

• 1D: 0.05%
• 1M: 0.16%
• 6M: 1.11%
• YTD: 1.46%
• 1Y: 2.93%
• 3Y*: 5.88%
• 5Y*: 1.73%
• 10Y*: —
• ALL TIME*: 1.47%

ESGB.TO

• 1D: -0.11%
• 1M: -0.86%
• 6M: 0.01%
• YTD: 0.83%
• 1Y: 2.83%
• 3Y*: 6.10%
• 5Y*: 1.75%
• 10Y*: —
• ALL TIME*: 2.13%

*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)
ESGB.TO BMO ESG Corporate Bond Index ETF	CA$38.14K	CA$45.83K	CA$56.72K
RQP.TO RBC Target 2027 Canadian Corporate Bond Index ETF	CA$212.45K	CA$256.68K	CA$241.67K

RQP.TO vs. ESGB.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
RQP.TO RBC Target 2027 Canadian Corporate Bond Index ETF	1.46%	4.15%	6.22%	6.87%	-8.19%	-2.20%	1.15%
ESGB.TO BMO ESG Corporate Bond Index ETF	0.83%	4.18%	6.92%	7.89%	-9.31%	-2.24%	0.59%

Correlation

The correlation between RQP.TO and ESGB.TO is 0.46, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.46
Correlation (3Y) Balances recent behavior with more history.	0.53
Correlation (5Y) Shows whether the relationship held over a longer period.	0.45
Correlation (All Time) Calculated using the full available price history since Sep 18, 2020	0.41

The correlation between RQP.TO and ESGB.TO shifts across timeframes, from 0.41 (all time) to 0.53 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

RQP.TO vs. ESGB.TO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

RQP.TO

RQP.TO Risk / Return Rank: 94
RQP.TO Sharpe Ratio Rank: 93
RQP.TO Sortino Ratio Rank: 94
RQP.TO Omega Ratio Rank: 95
RQP.TO Calmar Ratio Rank: 93
RQP.TO Martin Ratio Rank: 96

ESGB.TO

ESGB.TO Risk / Return Rank: 30
ESGB.TO Sharpe Ratio Rank: 29
ESGB.TO Sortino Ratio Rank: 28
ESGB.TO Omega Ratio Rank: 28
ESGB.TO Calmar Ratio Rank: 34
ESGB.TO Martin Ratio Rank: 33

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

RQP.TO vs. ESGB.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for RBC Target 2027 Canadian Corporate Bond Index ETF (RQP.TO) and BMO ESG Corporate Bond Index ETF (ESGB.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.

	RQP.TO	ESGB.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.63	0.77	+1.86
Sortino ratio: Return per unit of downside risk	3.98	1.13	+2.85
Omega ratio: Gain probability vs. loss probability	1.57	1.14	+0.43
Calmar ratio: Return relative to maximum drawdown	4.68	1.26	+3.42
Martin ratio: Return relative to average drawdown	24.52	3.37	+21.15

RQP.TO vs. ESGB.TO - Sharpe Ratio Comparison

The current RQP.TO Sharpe Ratio is 2.63, which is higher than the ESGB.TO Sharpe Ratio of 0.77. The chart below compares the historical Sharpe Ratios of RQP.TO and ESGB.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

RQP.TO vs. ESGB.TO - Drawdown Comparison

The maximum RQP.TO drawdown since its inception was -13.88%, smaller than the maximum ESGB.TO drawdown of -15.18%. Use the drawdown chart below to compare losses from any high point for RQP.TO and ESGB.TO.

Drawdown Indicators

	RQP.TO	ESGB.TO	Difference
Max Drawdown Largest peak-to-trough decline	-13.88%	-15.18%	+1.30%
Max Drawdown (1Y) Largest decline over 1 year	-0.65%	-2.47%	+1.82%
Max Drawdown (3Y) Largest decline over 3 years	-1.46%	-2.50%	+1.04%
Max Drawdown (5Y) Largest decline over 5 years	-12.93%	-13.96%	+1.03%
Current Drawdown Current decline from peak	0.00%	-1.78%	+1.78%
Average Drawdown Average peak-to-trough decline	-4.10%	-4.23%	+0.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.12%	0.92%	-0.80%

Volatility

RQP.TO vs. ESGB.TO - Volatility Comparison

The current volatility for RBC Target 2027 Canadian Corporate Bond Index ETF (RQP.TO) is 0.25%, while BMO ESG Corporate Bond Index ETF (ESGB.TO) has a volatility of 1.27%. This indicates that RQP.TO experiences smaller price fluctuations and is considered to be less risky than ESGB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RQP.TO	ESGB.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.25%	1.27%	-1.02%
Volatility (6M) Calculated over the trailing 6-month period	0.85%	3.17%	-2.32%
Volatility (1Y) Calculated over the trailing 1-year period	1.17%	4.02%	-2.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.85%	5.41%	-1.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.76%	5.97%	-2.21%

RQP.TO vs. ESGB.TO - Expense Ratio Comparison

RQP.TO has a 0.22% expense ratio, which is higher than ESGB.TO's 0.17% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

RQP.TO vs. ESGB.TO - Dividend Comparison

RQP.TO's dividend yield for the trailing twelve months is around 3.73%, less than ESGB.TO's 4.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
ESGB.TO BMO ESG Corporate Bond Index ETF	4.04%	3.82%	3.52%	3.56%	3.39%	2.98%	2.83%
RQP.TO RBC Target 2027 Canadian Corporate Bond Index ETF	3.73%	3.58%	3.25%	3.18%	2.67%	2.29%	0.60%

Frequently Asked Questions

Can I hold both RQP.TO and ESGB.TO in my portfolio?

RQP.TO and ESGB.TO have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, RQP.TO or ESGB.TO?

On fees, ESGB.TO is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, RQP.TO or ESGB.TO?

ESGB.TO is cheaper with a 0.17% expense ratio, compared with 0.22% for RQP.TO.

What is the main difference between RQP.TO and ESGB.TO?

RQP.TO is categorized as Short-Term Bond, while ESGB.TO is Corporate Bonds. RQP.TO tracks FTSE Canada 2027 Maturity Corporate Bond Index, while ESGB.TO tracks Bloomberg MSCI Canadian Corporate Sustainability SRI Index. They also come from different issuers: RBC and BMO. Their fees differ too: 0.22% for RQP.TO and 0.17% for ESGB.TO.