Mackenzie Core Plus Global Fixed Income ETF (MGB.TO) belongs to the Global Bonds category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with MGB.TO. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to MGB.TO
Among 7 ETFs in the Global Bonds category with expense-ratio data, the lowest-cost alternatives shown here go as low as 0.09%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| BMO US Aggregate Bond Index ETF | 0.09% | — | Jan 2023 | MGB.TO vs ZUAG.TO | |
| Fidelity All-in-One Fixed Income ETF | 0.33% | — | May 2025 | MGB.TO vs FFIX.NEO | |
| Vanguard Global Aggregate Bond Index ETF (CAD-hedg... | 0.33% | — | Jan 2020 | MGB.TO vs VGAB.NEO | |
| Vanguard Global ex-U.S. Aggregate Bond Index ETF (... | 0.39% | — | Jun 2014 | MGB.TO vs VBG.NEO | |
| Global X Active Global Fixed Income ETF | 0.59% | 66.47M | Jul 2009 | MGB.TO vs HAF.TO |
Best Risk-Adjusted Alternatives to MGB.TO
MGB.TO has a PortfoliosLab risk / return rank of 23. There are 3 ETFs in the Global Bonds category with higher risk-adjusted ranks, going as high as 56.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| Purpose Global Bond Fund | 56 | 2.50B | — | MGB.TO vs BND.TO | |
| Fidelity All-in-One Fixed Income ETF | 36 | — | May 2025 | MGB.TO vs FFIX.NEO | |
| TD Active Global Income ETF | 34 | 375.73M | Nov 2019 | MGB.TO vs TGFI.TO | |
| NBI Unconstrained Fixed Income ETF | 22 | 2.91B | Oct 2019 | MGB.TO vs NUBF.TO | |
| Global X Active Global Fixed Income ETF | 19 | 66.47M | Jul 2009 | MGB.TO vs HAF.TO |
Top Performing MGB.TO Alternatives (YTD)
MGB.TO is at -0.02% YTD. There are 6 ETFs in the Global Bonds category with higher YTD returns, going as high as 2.74%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| BMO US Aggregate Bond Index ETF | 2.74% | — | Jan 2023 | MGB.TO vs ZUAG.TO | |
| Global X Active Global Fixed Income ETF | 2.24% | 66.47M | Jul 2009 | MGB.TO vs HAF.TO | |
| Purpose Global Bond Fund | 1.18% | 2.50B | — | MGB.TO vs BND.TO | |
| Fidelity All-in-One Fixed Income ETF | 1.12% | — | May 2025 | MGB.TO vs FFIX.NEO | |
| NBI Unconstrained Fixed Income ETF | 0.66% | 2.91B | Oct 2019 | MGB.TO vs NUBF.TO |
Lowest Volatility Alternatives to MGB.TO
MGB.TO has 5.82% 1-year volatility. There are 6 ETFs in the Global Bonds category with lower 1-year volatility, going as low as 3.15%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Purpose Global Bond Fund | 3.15% | 2.50B | — | MGB.TO vs BND.TO | |
| TD Active Global Income ETF | 3.88% | 375.73M | Nov 2019 | MGB.TO vs TGFI.TO | |
| Vanguard Global Aggregate Bond Index ETF (CAD-hedg... | 3.96% | — | Jan 2020 | MGB.TO vs VGAB.NEO | |
| Vanguard Global ex-U.S. Aggregate Bond Index ETF (... | 4.22% | — | Jun 2014 | MGB.TO vs VBG.NEO | |
| Fidelity All-in-One Fixed Income ETF | 4.24% | — | May 2025 | MGB.TO vs FFIX.NEO |
Lowest Drawdown Alternatives to MGB.TO
MGB.TO has a 1-year max drawdown of -3.39%. There are 5 ETFs in the Global Bonds category with shallower 1-year drawdowns, going as shallow as -2.57%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Fidelity All-in-One Fixed Income ETF | -2.57% | — | May 2025 | MGB.TO vs FFIX.NEO | |
| Purpose Global Bond Fund | -2.87% | 2.50B | — | MGB.TO vs BND.TO | |
| TD Active Global Income ETF | -3.07% | 375.73M | Nov 2019 | MGB.TO vs TGFI.TO | |
| Vanguard Global Aggregate Bond Index ETF (CAD-hedg... | -3.08% | — | Jan 2020 | MGB.TO vs VGAB.NEO | |
| Vanguard Global ex-U.S. Aggregate Bond Index ETF (... | -3.17% | — | Jun 2014 | MGB.TO vs VBG.NEO |
Other ETFs from Mackenzie
The 10 most viewed Mackenzie ETFs shown here include QCN.TO, QUU.TO, WSHR.NEO and span 10 categories. AUM among these funds goes as high as $6B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Mackenzie Canadian Equity Index ETF | Canada Equities | 89 | 13.00% | 5.72B | Jan 2018 | MGB.TO vs QCN.TO | |
| Mackenzie US Large Cap Equity Index ETF | Large Cap Blend Equities | 75 | 13.61% | 6.36B | Jan 2018 | MGB.TO vs QUU.TO | |
| Wealthsimple Shariah World Equity Index ETF | Global Equities | 34 | 8.55% | — | May 2021 | MGB.TO vs WSHR.NEO | |
| Mackenzie NASDAQ 100 Index ETF | Nasdaq-100 | — | 19.55% | — | Aug 2025 | MGB.TO vs QQQQ.TO | |
| Mackenzie International Equity Index ETF | Foreign Large Cap Equities | 67 | 13.32% | 1.72B | Jan 2018 | MGB.TO vs QDX.TO | |
| Mackenzie US TIPS Index ETF (CAD-Hedged) | Inflation-Protected Bonds | 17 | 0.24% | 293.47M | Jan 2018 | MGB.TO vs QTIP.NEO | |
| Mackenzie Growth Allocation ETF | Diversified Portfolio | 87 | 10.77% | — | Sep 2020 | MGB.TO vs MGRW.TO | |
| Mackenzie International Equity Index ETF (CAD-Hedg... | International Equity | 82 | 12.19% | 40.21M | Jan 2018 | MGB.TO vs QDXH.TO | |
| Mackenzie AAA CLO ETF | CLO | 92 | 1.33% | — | May 2025 | MGB.TO vs MAAA.TO | |
| Mackenzie Unconstrained Bond ETF | Nontraditional Bonds | 28 | 0.52% | — | Apr 2016 | MGB.TO vs MUB.TO |
Compare MGB.TO with Any Fund or Stock
Compare MGB.TO with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair MGB.TO with funds that move differently
Mackenzie Core Plus Global Fixed Income ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to MGB.TO.
Explore MGB.TO Diversifiers