RQP.TO vs. RCDB.NEO
RQP.TO (RBC Target 2027 Canadian Corporate Bond Index ETF) and RCDB.NEO (RBC Canadian Discount Bond ETF) are both exchange-traded funds - RQP.TO is a Corporate Bonds fund actively managed by RBC, while RCDB.NEO is a Short-Term Bond fund actively managed by RBC. Both are actively managed. Over the past 5 years, RQP.TO returned 1.75%/yr vs 2.27%/yr for RCDB.NEO. A 0.54 correlation means they provide meaningful diversification when combined.
Performance
RQP.TO vs. RCDB.NEO - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with RQP.TO having a 1.35% return and RCDB.NEO slightly higher at 1.36%.
RQP.TO
- 1D
- 0.05%
- 1M
- 0.16%
- 6M
- 1.19%
- YTD
- 1.35%
- 1Y
- 3.41%
- 3Y*
- 5.72%
- 5Y*
- 1.75%
- 10Y*
- —
RCDB.NEO
- 1D
- 0.09%
- 1M
- 0.02%
- 6M
- 1.03%
- YTD
- 1.36%
- 1Y
- 3.56%
- 3Y*
- 5.00%
- 5Y*
- 2.27%
- 10Y*
- —
RQP.TO vs. RCDB.NEO - 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% |
RCDB.NEO RBC Canadian Discount Bond ETF | 1.36% | 3.75% | 5.58% | 5.68% | -4.07% | -0.68% | 0.68% |
Correlation
The correlation between RQP.TO and RCDB.NEO is 0.50, 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 | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Sep 18, 2020 | 0.54 |
The correlation between RQP.TO and RCDB.NEO shifts across timeframes, from 0.50 (1 year) to 0.67 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
RQP.TO vs. RCDB.NEO — Risk / Return Rank
RQP.TO
RCDB.NEO
RQP.TO vs. RCDB.NEO - 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 Canadian Discount Bond ETF (RCDB.NEO). 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 | RCDB.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.41 | ||
| Sortino ratioReturn per unit of downside risk | +2.25 | ||
| Omega ratioGain probability vs. loss probability | 1.66 | 1.29 | +0.37 |
| Calmar ratioReturn relative to maximum drawdown | 5.24 | 2.25 | +2.99 |
| Martin ratioReturn relative to average drawdown | 27.52 | 7.88 | +19.65 |
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Drawdowns
RQP.TO vs. RCDB.NEO - Drawdown Comparison
The maximum RQP.TO drawdown since its inception was -13.88%, which is greater than RCDB.NEO's maximum drawdown of -8.31%. Use the drawdown chart below to compare losses from any high point for RQP.TO and RCDB.NEO.
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Drawdown Indicators
| RQP.TO | RCDB.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.88% | -8.31% | -5.57% |
Max Drawdown (1Y)Largest decline over 1 year | -0.65% | -1.59% | +0.94% |
Max Drawdown (3Y)Largest decline over 3 years | -1.46% | -1.59% | +0.13% |
Max Drawdown (5Y)Largest decline over 5 years | -12.93% | -6.90% | -6.03% |
Current DrawdownCurrent decline from peak | 0.00% | -0.19% | +0.19% |
Average DrawdownAverage peak-to-trough decline | -4.13% | -1.39% | -2.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.12% | 0.45% | -0.33% |
Volatility
RQP.TO vs. RCDB.NEO - Volatility Comparison
The current volatility for RBC Target 2027 Canadian Corporate Bond Index ETF (RQP.TO) is 0.33%, while RBC Canadian Discount Bond ETF (RCDB.NEO) has a volatility of 0.63%. This indicates that RQP.TO experiences smaller price fluctuations and is considered to be less risky than RCDB.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RQP.TO | RCDB.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.33% | 0.63% | -0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 0.85% | 1.69% | -0.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.16% | 2.31% | -1.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.86% | 2.84% | +1.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.77% | 5.44% | -1.67% |
Dividends
RQP.TO vs. RCDB.NEO - Dividend Comparison
RQP.TO's dividend yield for the trailing twelve months is around 3.70%, more than RCDB.NEO's 2.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
RCDB.NEO RBC Canadian Discount Bond ETF | 2.17% | 1.96% | 1.58% | 1.22% | 1.16% | 1.33% | 1.68% | 0.78% |
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% |
Frequently Asked Questions
RQP.TO and RCDB.NEO have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RQP.TO is categorized as Corporate Bonds, while RCDB.NEO is Short-Term Bond.
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