ZSDB.TO vs. RCDB.NEO
ZSDB.TO (BMO Short-Term Discount Bond ETF) and RCDB.NEO (RBC Canadian Discount Bond ETF) are both Short-Term Bond funds. Both are actively managed. Over the past 3 years, ZSDB.TO returned 4.81%/yr vs 4.84%/yr for RCDB.NEO. At a 0.45 correlation, their price movements are largely independent. ZSDB.TO charges 0.09%/yr vs 0.17%/yr for RCDB.NEO.
Performance
ZSDB.TO vs. RCDB.NEO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ZSDB.TO achieves a 0.74% return, which is significantly lower than RCDB.NEO's 1.15% return.
ZSDB.TO
- 1D
- -0.03%
- 1M
- 0.86%
- YTD
- 0.74%
- 6M
- 0.77%
- 1Y
- 2.82%
- 3Y*
- 4.81%
- 5Y*
- —
- 10Y*
- —
RCDB.NEO
- 1D
- 0.00%
- 1M
- 1.09%
- YTD
- 1.15%
- 6M
- 0.91%
- 1Y
- 3.01%
- 3Y*
- 4.84%
- 5Y*
- 2.25%
- 10Y*
- —
ZSDB.TO vs. RCDB.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ZSDB.TO BMO Short-Term Discount Bond ETF | 0.74% | 3.93% | 5.94% | 4.67% | -2.83% |
RCDB.NEO RBC Canadian Discount Bond ETF | 1.15% | 3.75% | 5.58% | 5.68% | -2.98% |
Correlation
The correlation between ZSDB.TO and RCDB.NEO is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Jan 28, 2022 | 0.45 |
The correlation between ZSDB.TO and RCDB.NEO shifts across timeframes, from 0.45 (all time) to 0.58 (3 years), reflecting how their relationship changes across market environments.
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
ZSDB.TO vs. RCDB.NEO — Risk / Return Rank
ZSDB.TO
RCDB.NEO
ZSDB.TO vs. RCDB.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Short-Term Discount Bond ETF (ZSDB.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.
| ZSDB.TO | RCDB.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.24 | ||
| Sortino ratioReturn per unit of downside risk | +0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.24 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.99 | 1.91 | +0.09 |
| Martin ratioReturn relative to average drawdown | 6.59 | 6.47 | +0.12 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| ZSDB.TO | RCDB.NEO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.53 | 1.29 | +0.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.80 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.17 | 0.45 | +0.72 |
Drawdowns
ZSDB.TO vs. RCDB.NEO - Drawdown Comparison
The maximum ZSDB.TO drawdown since its inception was -4.88%, smaller than the maximum RCDB.NEO drawdown of -8.31%. Use the drawdown chart below to compare losses from any high point for ZSDB.TO and RCDB.NEO.
Loading charts...
Drawdown Indicators
| ZSDB.TO | RCDB.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.88% | -8.31% | +3.43% |
Max Drawdown (1Y)Largest decline over 1 year | -1.44% | -1.59% | +0.15% |
Max Drawdown (3Y)Largest decline over 3 years | -1.44% | -1.59% | +0.15% |
Max Drawdown (5Y)Largest decline over 5 years | — | -6.90% | — |
Current DrawdownCurrent decline from peak | -0.18% | -0.03% | -0.15% |
Average DrawdownAverage peak-to-trough decline | -0.72% | -1.41% | +0.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.43% | 0.47% | -0.04% |
Volatility
ZSDB.TO vs. RCDB.NEO - Volatility Comparison
The current volatility for BMO Short-Term Discount Bond ETF (ZSDB.TO) is 0.63%, while RBC Canadian Discount Bond ETF (RCDB.NEO) has a volatility of 0.67%. This indicates that ZSDB.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.
Loading charts...
Volatility by Period
| ZSDB.TO | RCDB.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.63% | 0.67% | -0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 1.58% | 1.84% | -0.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.89% | 2.35% | -0.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.52% | 2.83% | +0.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.52% | 5.48% | -1.96% |
ZSDB.TO vs. RCDB.NEO - Expense Ratio Comparison
ZSDB.TO has a 0.09% expense ratio, which is lower than RCDB.NEO's 0.17% 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
ZSDB.TO vs. RCDB.NEO - Dividend Comparison
ZSDB.TO's dividend yield for the trailing twelve months is around 1.30%, less than RCDB.NEO's 2.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
RCDB.NEO RBC Canadian Discount Bond ETF | 2.11% | 1.96% | 1.58% | 1.22% | 1.16% | 1.33% | 1.68% | 0.78% |
ZSDB.TO BMO Short-Term Discount Bond ETF | 1.30% | 1.28% | 1.35% | 1.77% | 1.77% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZSDB.TO and RCDB.NEO have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZSDB.TO is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZSDB.TO is cheaper with a 0.09% expense ratio, compared with 0.17% for RCDB.NEO.
They also come from different issuers: BMO and RBC. Their fees differ too: 0.09% for ZSDB.TO and 0.17% for RCDB.NEO.
Find the right allocation for ZSDB.TO and RCDB.NEO
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