In fact, a 1 — 5 year GIC ladder at RBC Direct Investing currently boasts
an identical average yield of 2.34 %, with an average maturity of just 3 years (see image below).
Not exact matches
As you can see, the barbell ETFs are almost
identical in
yield to maturity, similar or lower in
average term to maturity, and significantly shorter in duration.
Worse, each run using
identical input
yields different results, so they
average several runs.