RQP.TO vs. RBO.TO

Last updated Jul 16, 2026

RQP.TO (RBC Target 2027 Canadian Corporate Bond Index ETF) and RBO.TO (RBC 1-5 Year Laddered Canadian Corporate Bond ETF) are both Corporate Bonds funds from RBC. Both are actively managed. Over the past 5 years, RQP.TO returned 1.75%/yr vs 2.32%/yr for RBO.TO. At a 0.46 correlation, their price movements are largely independent.

Performance

RQP.TO vs. RBO.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 RBC 1-5 Year Laddered Canadian Corporate Bond ETF (RBO.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with RQP.TO having a 1.35% return and RBO.TO slightly higher at 1.41%.

RQP.TO

• 1D: 0.05%
• 1M: 0.16%
• 6M: 1.19%
• YTD: 1.35%
• 1Y: 3.41%
• 3Y*: 5.72%
• 5Y*: 1.75%
• 10Y*: —

RBO.TO

• 1D: 0.16%
• 1M: -0.08%
• 6M: 0.93%
• YTD: 1.41%
• 1Y: 3.34%
• 3Y*: 5.41%
• 5Y*: 2.32%
• 10Y*: 2.40%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020
RQP.TO RBC Target 2027 Canadian Corporate Bond Index ETF	1.35%	4.15%	6.22%	6.87%	-8.19%	-2.20%	1.15%
RBO.TO RBC 1-5 Year Laddered Canadian Corporate Bond ETF	1.41%	4.23%	6.06%	6.16%	-5.32%	-1.20%	1.09%

Correlation

The correlation between RQP.TO and RBO.TO is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (5Y) Calculated over the trailing 5-year period	0.50
Correlation (All Time) Calculated using the full available price history since Sep 18, 2020	0.46

The correlation between RQP.TO and RBO.TO has been stable across timeframes, ranging from 0.46 to 0.55 - a consistent structural relationship.

Return for Risk

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

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

RQP.TO

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

RBO.TO

RBO.TO Risk / Return Rank: 53
RBO.TO Sharpe Ratio Rank: 55
RBO.TO Sortino Ratio Rank: 55
RBO.TO Omega Ratio Rank: 60
RBO.TO Calmar Ratio Rank: 46
RBO.TO Martin Ratio Rank: 50

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.

RQP.TO vs. RBO.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 RBC 1-5 Year Laddered Canadian Corporate Bond ETF (RBO.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	RBO.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.96	1.54	+1.42
Sortino ratio: Return per unit of downside risk	4.49	2.20	+2.30
Omega ratio: Gain probability vs. loss probability	1.66	1.30	+0.36
Calmar ratio: Return relative to maximum drawdown	5.24	1.92	+3.32
Martin ratio: Return relative to average drawdown	27.52	6.93	+20.60

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

The current RQP.TO Sharpe Ratio is 2.96, which is higher than the RBO.TO Sharpe Ratio of 1.54. The chart below compares the historical Sharpe Ratios of RQP.TO and RBO.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. RBO.TO - Drawdown Comparison

The maximum RQP.TO drawdown since its inception was -13.88%, smaller than the maximum RBO.TO drawdown of -20.46%. Use the drawdown chart below to compare losses from any high point for RQP.TO and RBO.TO.

Drawdown Indicators

	RQP.TO	RBO.TO	Difference
Max Drawdown Largest peak-to-trough decline	-13.88%	-20.46%	+6.58%
Max Drawdown (1Y) Largest decline over 1 year	-0.65%	-1.75%	+1.10%
Max Drawdown (3Y) Largest decline over 3 years	-1.46%	-1.75%	+0.29%
Max Drawdown (5Y) Largest decline over 5 years	-12.93%	-7.89%	-5.04%
Max Drawdown (10Y) Largest decline over 10 years	—	-20.46%	—
Current Drawdown Current decline from peak	0.00%	-0.16%	+0.16%
Average Drawdown Average peak-to-trough decline	-4.13%	-1.34%	-2.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.12%	0.48%	-0.36%

Volatility

RQP.TO vs. RBO.TO - Volatility Comparison

The current volatility for RBC Target 2027 Canadian Corporate Bond Index ETF (RQP.TO) is 0.33%, while RBC 1-5 Year Laddered Canadian Corporate Bond ETF (RBO.TO) has a volatility of 0.41%. This indicates that RQP.TO experiences smaller price fluctuations and is considered to be less risky than RBO.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RQP.TO	RBO.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.33%	0.41%	-0.08%
Volatility (6M) Calculated over the trailing 6-month period	0.85%	1.81%	-0.96%
Volatility (1Y) Calculated over the trailing 1-year period	1.16%	2.18%	-1.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.86%	2.95%	+0.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.77%	7.74%	-3.97%

Dividends

RQP.TO vs. RBO.TO - Dividend Comparison

RQP.TO's dividend yield for the trailing twelve months is around 3.70%, less than RBO.TO's 3.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RBO.TO RBC 1-5 Year Laddered Canadian Corporate Bond ETF	3.90%	3.67%	3.35%	2.56%	2.64%	2.32%	2.41%	2.77%	2.96%	3.02%	3.26%	3.54%
RQP.TO RBC Target 2027 Canadian Corporate Bond Index ETF	3.70%	3.58%	3.25%	3.18%	2.67%	2.29%	0.60%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

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

RQP.TO and RBO.TO have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.