ZSU.TO vs. RCDB.NEO
ZSU.TO (BMO Short-Term US IG Corporate Bond Hedged to CAD Index ETF) and RCDB.NEO (RBC Canadian Discount Bond ETF) are both Short-Term Bond funds. Over the past 5 years, ZSU.TO returned 1.27%/yr vs 2.33%/yr for RCDB.NEO. At a 0.29 correlation, their price movements are largely independent.
Performance
ZSU.TO vs. RCDB.NEO - Performance Comparison
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Returns By Period
In the year-to-date period, ZSU.TO achieves a -0.19% return, which is significantly lower than RCDB.NEO's 1.45% return.
ZSU.TO
- 1D
- -0.23%
- 1M
- 0.07%
- YTD
- -0.19%
- 6M
- -0.12%
- 1Y
- 1.68%
- 3Y*
- 4.05%
- 5Y*
- 1.27%
- 10Y*
- 1.62%
RCDB.NEO
- 1D
- -0.05%
- 1M
- 0.31%
- YTD
- 1.45%
- 6M
- 1.41%
- 1Y
- 2.97%
- 3Y*
- 4.89%
- 5Y*
- 2.33%
- 10Y*
- —
ZSU.TO vs. RCDB.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
ZSU.TO BMO Short-Term US IG Corporate Bond Hedged to CAD Index ETF | -0.19% | 4.61% | 3.84% | 5.18% | -6.17% | -0.99% | 4.54% | 2.23% |
RCDB.NEO RBC Canadian Discount Bond ETF | 1.45% | 3.75% | 5.58% | 5.68% | -4.07% | -0.68% | 5.61% | 0.58% |
Correlation
The correlation between ZSU.TO and RCDB.NEO is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.39 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Jun 11, 2019 | 0.29 |
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Return for Risk
ZSU.TO vs. RCDB.NEO — Risk / Return Rank
ZSU.TO
RCDB.NEO
ZSU.TO vs. RCDB.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Short-Term US IG Corporate Bond Hedged to CAD Index ETF (ZSU.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.
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.
| ZSU.TO | RCDB.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.63 | ||
| Sortino ratioReturn per unit of downside risk | -0.88 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.24 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.13 | 1.88 | -0.75 |
| Martin ratioReturn relative to average drawdown | 3.08 | 6.51 | -3.43 |
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Drawdowns
ZSU.TO vs. RCDB.NEO - Drawdown Comparison
The maximum ZSU.TO drawdown since its inception was -12.35%, which is greater than RCDB.NEO's maximum drawdown of -8.31%. Use the drawdown chart below to compare losses from any high point for ZSU.TO and RCDB.NEO.
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Drawdown Indicators
| ZSU.TO | RCDB.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.35% | -8.31% | -4.04% |
Max Drawdown (1Y)Largest decline over 1 year | -1.49% | -1.59% | +0.10% |
Max Drawdown (3Y)Largest decline over 3 years | -1.49% | -1.59% | +0.10% |
Max Drawdown (5Y)Largest decline over 5 years | -10.02% | -6.90% | -3.12% |
Max Drawdown (10Y)Largest decline over 10 years | -12.35% | — | — |
Current DrawdownCurrent decline from peak | -0.77% | -0.05% | -0.72% |
Average DrawdownAverage peak-to-trough decline | -1.62% | -1.39% | -0.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.55% | 0.46% | +0.09% |
Volatility
ZSU.TO vs. RCDB.NEO - Volatility Comparison
The current volatility for BMO Short-Term US IG Corporate Bond Hedged to CAD Index ETF (ZSU.TO) is 0.53%, while RBC Canadian Discount Bond ETF (RCDB.NEO) has a volatility of 0.56%. This indicates that ZSU.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.
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Volatility by Period
| ZSU.TO | RCDB.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.53% | 0.56% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 1.75% | 1.65% | +0.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.56% | 2.34% | +0.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.69% | 2.84% | +0.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.47% | 5.45% | -0.98% |
Dividends
ZSU.TO vs. RCDB.NEO - Dividend Comparison
ZSU.TO's dividend yield for the trailing twelve months is around 4.31%, more than RCDB.NEO's 2.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RCDB.NEO RBC Canadian Discount Bond ETF | 2.17% | 1.96% | 1.58% | 1.22% | 1.16% | 1.33% | 1.68% | 0.78% | 0.00% | 0.00% | 0.00% | 0.00% |
ZSU.TO BMO Short-Term US IG Corporate Bond Hedged to CAD Index ETF | 4.31% | 3.76% | 3.31% | 3.17% | 3.23% | 2.97% | 2.99% | 2.78% | 2.49% | 2.30% | 2.07% | 2.29% |
Frequently Asked Questions
ZSU.TO and RCDB.NEO have a correlation of 0.37, 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: BMO and RBC.
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