On Sunday (March 27), Drake hosted the the 40th annual Juno Awards -- generally considered the Canadian equivalent of the Grammys -- at the Air Canada Centre in Toronto. The rapper was nominated for six awards, including Album of the Year and the Fan Choice Award, but ended up coming home empty-handed.

Despite being one of the year's biggest artists, the Toronto native was bested by fellow Canadians in every category, losing Best Rap Recording -- he won last year -- to indie darling Shad, Single of the Year to Somali-born rapper K'naan, and Artist of the Year to rock legend Neil Young. Teen sensation Justin Bieber took home the Fan Choice Award, no tremendous shock given his cult following, but Drake's loss to Arcade Fire for Album of the Year and Songwriter of the Year sealed the deal.

Drake had a similar experience at this year's Grammy Awards, where he was nominated for four awards, but came up short. Though he didn't seem particularly perturbed, Drake producer Boi-1da questioned the results, tweeting "Hmmmm...... Drizzy wit no Junos in Toronto? Really?" Drake's fan site designer and friend Karla Moy voiced fan's frustrations by tweeting, "Hey Junos, good job at using Drake for ratings."

Despite the outcome, Drake kept the audience in a good mood all night. He introduced the show with a hilarious sketch about his new retirement crew Old Money, a play on his Young Money roots.

Drake's sophomore album, 'Take Care,' will hit shelves later this year.

Watch Drake's 'Old Money' Sketch From the 40th Junos