XSH.TO vs. RQP.TO
XSH.TO (iShares Core Canadian Short Term Corporate Bond Index ETF) and RQP.TO (RBC Target 2027 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 RQP.TO tracks the FTSE Canada 2027 Maturity Corporate Bond Index. Both are passively managed. Over the past 5 years, XSH.TO returned 2.84%/yr vs 1.73%/yr for RQP.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 RQP.TO.
Performance
XSH.TO vs. RQP.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with XSH.TO having a 1.42% return and RQP.TO slightly higher at 1.46%.
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%
RQP.TO
- 1D
- 0.05%
- 1M
- 0.16%
- 6M
- 1.11%
- YTD
- 1.46%
- 1Y
- 2.93%
- 3Y*
- 5.88%
- 5Y*
- 1.73%
- 10Y*
- —
- ALL TIME*
- 1.47%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$212.45K | CA$256.68K | CA$241.67K | |
| CA$1.66M | CA$1.41M | CA$1.29M |
XSH.TO vs. RQP.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% |
RQP.TO RBC Target 2027 Canadian Corporate Bond Index ETF | 1.46% | 4.15% | 6.22% | 6.87% | -8.19% | -2.20% | 1.15% |
Correlation
The correlation between XSH.TO and RQP.TO is 0.55, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.55 |
Correlation (3Y) Balances recent behavior with more history. | 0.73 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.65 |
Correlation (All Time) Calculated using the full available price history since Sep 18, 2020 | 0.61 |
The correlation between XSH.TO and RQP.TO shifts across timeframes, from 0.55 (1 year) to 0.73 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
XSH.TO vs. RQP.TO — Risk / Return Rank
XSH.TO
RQP.TO
XSH.TO vs. RQP.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 2027 Canadian Corporate Bond Index ETF (RQP.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 | RQP.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.12 | ||
| Sortino ratioReturn per unit of downside risk | -1.85 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.57 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | 2.22 | 4.68 | -2.46 |
| Martin ratioReturn relative to average drawdown | 8.67 | 24.52 | -15.85 |
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Drawdowns
XSH.TO vs. RQP.TO - Drawdown Comparison
The maximum XSH.TO drawdown since its inception was -14.24%, roughly equal to the maximum RQP.TO drawdown of -13.88%. Use the drawdown chart below to compare losses from any high point for XSH.TO and RQP.TO.
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Drawdown Indicators
| XSH.TO | RQP.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.24% | -13.88% | -0.36% |
Max Drawdown (1Y)Largest decline over 1 year | -1.51% | -0.65% | -0.86% |
Max Drawdown (3Y)Largest decline over 3 years | -1.51% | -1.46% | -0.05% |
Max Drawdown (5Y)Largest decline over 5 years | -7.80% | -12.93% | +5.13% |
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% | -4.10% | +3.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.38% | 0.12% | +0.26% |
Volatility
XSH.TO vs. RQP.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 2027 Canadian Corporate Bond Index ETF (RQP.TO) at 0.25%. This indicates that XSH.TO's price experiences larger fluctuations and is considered to be riskier than RQP.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XSH.TO | RQP.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.59% | 0.25% | +0.34% |
Volatility (6M)Calculated over the trailing 6-month period | 1.85% | 0.85% | +1.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.21% | 1.17% | +1.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.85% | 3.85% | -1.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.42% | 3.76% | +0.66% |
XSH.TO vs. RQP.TO - Expense Ratio Comparison
XSH.TO has a 0.10% expense ratio, which is lower than RQP.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. RQP.TO - Dividend Comparison
XSH.TO's dividend yield for the trailing twelve months is around 3.94%, more than RQP.TO's 3.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RQP.TO RBC Target 2027 Canadian Corporate Bond Index ETF | 3.73% | 3.58% | 3.25% | 3.18% | 2.67% | 2.29% | 0.60% | 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 RQP.TO have a correlation of 0.55, 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 RQP.TO.
XSH.TO tracks FTSE Canada Universe + Maple Short Term Corporate Bond Index, while RQP.TO tracks FTSE Canada 2027 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 RQP.TO.
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