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RQP.TO vs. XHB.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

RQP.TO vs. XHB.TO

Last updated Jul 16, 2026
Documentation

RQP.TO (RBC Target 2027 Canadian Corporate Bond Index ETF) and XHB.TO (iShares Canadian HYBrid Corporate Bond Index ETF) are both Corporate Bonds funds. RQP.TO is actively managed, while XHB.TO is passively managed. Over the past 5 years, RQP.TO returned 1.75%/yr vs 2.88%/yr for XHB.TO. At a 0.48 correlation, their price movements are largely independent.

Performance

RQP.TO vs. XHB.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 iShares Canadian HYBrid Corporate Bond Index ETF (XHB.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, RQP.TO achieves a 1.35% return, which is significantly lower than XHB.TO's 2.00% 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*
—

XHB.TO

1D
0.25%
1M
-0.37%
6M
1.29%
YTD
2.00%
1Y
5.70%
3Y*
7.13%
5Y*
2.88%
10Y*
3.76%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020
RQP.TO
RBC Target 2027 Canadian Corporate Bond Index ETF		1.35%4.15%6.22%6.87%-8.19%-2.20%1.15%
XHB.TO
iShares Canadian HYBrid Corporate Bond Index ETF		2.00%5.34%8.02%10.06%-9.67%0.02%2.59%

Correlation

The correlation between RQP.TO and XHB.TO is 0.58, 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

0.58

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

0.64

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

0.53

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

0.48

The correlation between RQP.TO and XHB.TO shifts across timeframes, from 0.48 (all time) to 0.64 (3 years), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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RBC Target 2027 Canadian Corporate Bond Index ETF

iShares Canadian HYBrid Corporate Bond Index ETF

Often compared with XHB.TO:
XHB.TO vs. XCB.TOXHB.TO vs. XLB.TOXHB.TO vs. XBB.TOXHB.TO vs. VSBIXXHB.TO vs. XCBG.TOXHB.TO vs. XHY.TOXHB.TO vs. ZAG.TO

Return for Risk

RQP.TO vs. XHB.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: 9595
Overall Rank
RQP.TO Sharpe Ratio Rank: 9595
Sharpe Ratio Rank
RQP.TO Sortino Ratio Rank: 9696
Sortino Ratio Rank
RQP.TO Omega Ratio Rank: 9696
Omega Ratio Rank
RQP.TO Calmar Ratio Rank: 9393
Calmar Ratio Rank
RQP.TO Martin Ratio Rank: 9696
Martin Ratio Rank
XHB.TO
XHB.TO Risk / Return Rank: 6363
Overall Rank
XHB.TO Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
XHB.TO Sortino Ratio Rank: 6969
Sortino Ratio Rank
XHB.TO Omega Ratio Rank: 6666
Omega Ratio Rank
XHB.TO Calmar Ratio Rank: 5959
Calmar Ratio Rank
XHB.TO Martin Ratio Rank: 5757
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.

RQP.TO vs. XHB.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 iShares Canadian HYBrid Corporate Bond Index ETF (XHB.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.TOXHB.TODifference
Sharpe ratioReturn per unit of total volatility
2.96
1.74

+1.22

Sortino ratioReturn per unit of downside risk
4.49
2.53

+1.96

Omega ratioGain probability vs. loss probability

1.66

1.32

+0.35

Calmar ratioReturn relative to maximum drawdown

5.24

2.37

+2.88

Martin ratioReturn relative to average drawdown

27.52

7.92

+19.60

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

The current RQP.TO Sharpe Ratio is 2.96, which is higher than the XHB.TO Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of RQP.TO and XHB.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

RQP.TO vs. XHB.TO - Drawdown Comparison

The maximum RQP.TO drawdown since its inception was -13.88%, smaller than the maximum XHB.TO drawdown of -26.50%. Use the drawdown chart below to compare losses from any high point for RQP.TO and XHB.TO.

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Drawdown Indicators

RQP.TOXHB.TODifference

Max Drawdown

Largest peak-to-trough decline

-13.88%

-26.50%

+12.62%

Max Drawdown (1Y)

Largest decline over 1 year

-0.65%

-2.42%

+1.77%

Max Drawdown (3Y)

Largest decline over 3 years

-1.46%

-2.91%

+1.45%

Max Drawdown (5Y)

Largest decline over 5 years

-12.93%

-13.94%

+1.01%

Max Drawdown (10Y)

Largest decline over 10 years

—

-26.50%

—

Current Drawdown

Current decline from peak

0.00%

-0.50%

+0.50%

Average Drawdown

Average peak-to-trough decline

-4.13%

-2.07%

-2.06%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.12%

0.72%

-0.60%

Volatility

RQP.TO vs. XHB.TO - Volatility Comparison

The current volatility for RBC Target 2027 Canadian Corporate Bond Index ETF (RQP.TO) is 0.33%, while iShares Canadian HYBrid Corporate Bond Index ETF (XHB.TO) has a volatility of 0.92%. This indicates that RQP.TO experiences smaller price fluctuations and is considered to be less risky than XHB.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.TOXHB.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

0.33%

0.92%

-0.59%

Volatility (6M)

Calculated over the trailing 6-month period

0.85%

2.71%

-1.86%

Volatility (1Y)

Calculated over the trailing 1-year period

1.16%

3.30%

-2.14%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

3.86%

5.55%

-1.69%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

3.77%

11.03%

-7.26%

Dividends

RQP.TO vs. XHB.TO - Dividend Comparison

RQP.TO's dividend yield for the trailing twelve months is around 3.70%, less than XHB.TO's 4.55% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
XHB.TO
iShares Canadian HYBrid Corporate Bond Index ETF		4.55%4.48%4.36%4.23%4.24%3.51%3.53%3.81%4.07%4.08%4.35%4.78%

Frequently Asked Questions

RQP.TO and XHB.TO have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

They also come from different issuers: RBC and iShares.

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