RQP.TO vs. RQO.TO
RQP.TO (RBC Target 2027 Canadian Corporate Bond Index ETF) and RQO.TO (RBC Target 2026 Corporate Bond Index ETF) are both Corporate Bonds funds from RBC. Both are actively managed. Over the past 5 years, RQP.TO returned 1.75%/yr vs 1.59%/yr for RQO.TO. A 0.59 correlation means they provide meaningful diversification when combined.
Performance
RQP.TO vs. RQO.TO - Performance Comparison
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Returns By Period
In the year-to-date period, RQP.TO achieves a 1.35% return, which is significantly higher than RQO.TO's 1.23% return.
RQP.TO
- 1D
- 0.05%
- 1M
- 0.16%
- 6M
- 1.19%
- YTD
- 1.35%
- 1Y
- 3.41%
- 3Y*
- 5.72%
- 5Y*
- 1.75%
- 10Y*
- —
RQO.TO
- 1D
- 0.05%
- 1M
- 0.24%
- 6M
- 1.17%
- YTD
- 1.23%
- 1Y
- 2.90%
- 3Y*
- 5.11%
- 5Y*
- 1.59%
- 10Y*
- —
RQP.TO vs. RQO.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% |
RQO.TO RBC Target 2026 Corporate Bond Index ETF | 1.23% | 3.57% | 5.40% | 6.86% | -7.50% | -2.27% | 0.63% |
Correlation
The correlation between RQP.TO and RQO.TO is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Sep 18, 2020 | 0.59 |
Over the past year, the correlation between RQP.TO and RQO.TO has dropped to 0.29 - well below their long-term average of 0.59, suggesting their price drivers have been diverging.
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Return for Risk
RQP.TO vs. RQO.TO — Risk / Return Rank
RQP.TO
RQO.TO
RQP.TO vs. RQO.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 Target 2026 Corporate Bond Index ETF (RQO.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 | RQO.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.16 | ||
| Sortino ratioReturn per unit of downside risk | -2.67 | ||
| Omega ratioGain probability vs. loss probability | 1.66 | 2.05 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | 5.24 | 27.50 | -22.25 |
| Martin ratioReturn relative to average drawdown | 27.52 | 91.66 | -64.13 |
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Drawdowns
RQP.TO vs. RQO.TO - Drawdown Comparison
The maximum RQP.TO drawdown since its inception was -13.88%, which is greater than RQO.TO's maximum drawdown of -12.86%. Use the drawdown chart below to compare losses from any high point for RQP.TO and RQO.TO.
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Drawdown Indicators
| RQP.TO | RQO.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.88% | -12.86% | -1.02% |
Max Drawdown (1Y)Largest decline over 1 year | -0.65% | -0.11% | -0.54% |
Max Drawdown (3Y)Largest decline over 3 years | -1.46% | -0.93% | -0.53% |
Max Drawdown (5Y)Largest decline over 5 years | -12.93% | -11.65% | -1.28% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -4.13% | -3.73% | -0.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.12% | 0.03% | +0.09% |
Volatility
RQP.TO vs. RQO.TO - Volatility Comparison
RBC Target 2027 Canadian Corporate Bond Index ETF (RQP.TO) has a higher volatility of 0.33% compared to RBC Target 2026 Corporate Bond Index ETF (RQO.TO) at 0.15%. This indicates that RQP.TO's price experiences larger fluctuations and is considered to be riskier than RQO.TO 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 | RQO.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.33% | 0.15% | +0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 0.85% | 0.47% | +0.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.16% | 0.72% | +0.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.86% | 2.98% | +0.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.77% | 2.93% | +0.84% |
Dividends
RQP.TO vs. RQO.TO - Dividend Comparison
RQP.TO's dividend yield for the trailing twelve months is around 3.70%, more than RQO.TO's 3.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
RQO.TO RBC Target 2026 Corporate Bond Index ETF | 3.03% | 2.66% | 2.56% | 1.98% | 1.86% | 1.97% | 0.52% |
RQP.TO RBC Target 2027 Canadian Corporate Bond Index ETF | 3.70% | 3.58% | 3.25% | 3.18% | 2.67% | 2.29% | 0.60% |
Frequently Asked Questions
RQP.TO and RQO.TO have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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