XSH.TO vs. RQO.TO
XSH.TO (iShares Core Canadian Short Term Corporate Bond Index ETF) and RQO.TO (RBC Target 2026 Canadian Corporate Bond Index ETF) are both Short-Term Bond funds - XSH.TO tracks the FTSE Canada Universe + Maple Short Term Corporate Bond Index while RQO.TO tracks the FTSE Canada 2026 Maturity Corporate Bond Index. Both are passively managed. Over the past 5 years, XSH.TO returned 2.84%/yr vs 1.50%/yr for RQO.TO. Their 0.61 correlation means they have sometimes moved together and sometimes differently. XSH.TO charges 0.10%/yr vs 0.22%/yr for RQO.TO.
Performance
XSH.TO vs. RQO.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, XSH.TO achieves a 1.42% return, which is significantly higher than RQO.TO's 1.28% return.
XSH.TO
- 1D
- -0.11%
- 1M
- -0.19%
- 6M
- 0.83%
- YTD
- 1.42%
- 1Y
- 3.11%
- 3Y*
- 6.10%
- 5Y*
- 2.84%
- 10Y*
- 2.79%
- ALL TIME*
- 2.84%
RQO.TO
- 1D
- 0.00%
- 1M
- 0.16%
- 6M
- 1.07%
- YTD
- 1.28%
- 1Y
- 2.57%
- 3Y*
- 5.11%
- 5Y*
- 1.50%
- 10Y*
- —
- ALL TIME*
- 1.24%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$124.30K | CA$161.03K | CA$212.53K | |
| CA$1.66M | CA$1.41M | CA$1.29M |
XSH.TO vs. RQO.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
XSH.TO iShares Core Canadian Short Term Corporate Bond Index ETF | 1.42% | 4.61% | 7.11% | 6.80% | -4.52% | -0.81% | 1.17% |
RQO.TO RBC Target 2026 Canadian Corporate Bond Index ETF | 1.28% | 3.57% | 5.40% | 6.86% | -7.50% | -2.27% | 0.63% |
Correlation
The correlation between XSH.TO and RQO.TO is 0.23, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.23 |
Correlation (3Y) Balances recent behavior with more history. | 0.62 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.64 |
Correlation (All Time) Calculated using the full available price history since Sep 18, 2020 | 0.61 |
Over the past year, the correlation between XSH.TO and RQO.TO has dropped to 0.23 - well below their long-term average of 0.61, suggesting their price drivers have been diverging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
XSH.TO vs. RQO.TO — Risk / Return Rank
XSH.TO
RQO.TO
XSH.TO vs. RQO.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core Canadian Short Term Corporate Bond Index ETF (XSH.TO) and RBC Target 2026 Canadian 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.
| XSH.TO | RQO.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.39 | ||
| Sortino ratioReturn per unit of downside risk | -4.61 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.99 | -0.70 |
| Calmar ratioReturn relative to maximum drawdown | 2.22 | 24.91 | -22.70 |
| Martin ratioReturn relative to average drawdown | 8.67 | 85.44 | -76.78 |
Loading charts...
Drawdowns
XSH.TO vs. RQO.TO - Drawdown Comparison
The maximum XSH.TO drawdown since its inception was -14.24%, 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 XSH.TO and RQO.TO.
Loading charts...
Drawdown Indicators
| XSH.TO | RQO.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.24% | -12.86% | -1.38% |
Max Drawdown (1Y)Largest decline over 1 year | -1.51% | -0.11% | -1.40% |
Max Drawdown (3Y)Largest decline over 3 years | -1.51% | -0.93% | -0.58% |
Max Drawdown (5Y)Largest decline over 5 years | -7.80% | -11.65% | +3.85% |
Max Drawdown (10Y)Largest decline over 10 years | -14.24% | — | — |
Current DrawdownCurrent decline from peak | -0.30% | 0.00% | -0.30% |
Average DrawdownAverage peak-to-trough decline | -0.92% | -3.70% | +2.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.38% | 0.03% | +0.35% |
Volatility
XSH.TO vs. RQO.TO - Volatility Comparison
iShares Core Canadian Short Term Corporate Bond Index ETF (XSH.TO) has a higher volatility of 0.59% compared to RBC Target 2026 Canadian Corporate Bond Index ETF (RQO.TO) at 0.12%. This indicates that XSH.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.
Loading charts...
Volatility by Period
| XSH.TO | RQO.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.59% | 0.12% | +0.47% |
Volatility (6M)Calculated over the trailing 6-month period | 1.85% | 0.47% | +1.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.21% | 0.68% | +1.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.85% | 2.98% | -0.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.42% | 2.92% | +1.50% |
XSH.TO vs. RQO.TO - Expense Ratio Comparison
XSH.TO has a 0.10% expense ratio, which is lower than RQO.TO's 0.22% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
XSH.TO vs. RQO.TO - Dividend Comparison
XSH.TO's dividend yield for the trailing twelve months is around 3.94%, more than RQO.TO's 3.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RQO.TO RBC Target 2026 Canadian Corporate Bond Index ETF | 3.09% | 2.66% | 2.56% | 1.98% | 1.86% | 1.97% | 0.52% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XSH.TO iShares Core Canadian Short Term Corporate Bond Index ETF | 3.94% | 3.82% | 3.64% | 3.24% | 2.97% | 2.65% | 2.61% | 2.80% | 2.86% | 2.93% | 3.08% | 3.18% |
Frequently Asked Questions
XSH.TO and RQO.TO have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XSH.TO is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XSH.TO is cheaper with a 0.10% expense ratio, compared with 0.22% for RQO.TO.
XSH.TO tracks FTSE Canada Universe + Maple Short Term Corporate Bond Index, while RQO.TO tracks FTSE Canada 2026 Maturity Corporate Bond Index. They also come from different issuers: iShares and RBC. Their fees differ too: 0.10% for XSH.TO and 0.22% for RQO.TO.
Find the right allocation for XSH.TO and RQO.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer