BMAX.TO vs. MGRW.TO
BMAX.TO (Brompton Enhanced Multi-Asset Income ETF) and MGRW.TO (Mackenzie Growth Allocation ETF) are both Diversified Portfolio funds. Over the past 3 years, BMAX.TO returned 19.11%/yr vs 19.65%/yr for MGRW.TO. At a 0.44 correlation, their price movements are largely independent.
Performance
BMAX.TO vs. MGRW.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with BMAX.TO having a 10.31% return and MGRW.TO slightly lower at 9.95%.
BMAX.TO
- 1D
- -0.26%
- 1M
- -0.02%
- YTD
- 10.31%
- 6M
- 9.34%
- 1Y
- 21.67%
- 3Y*
- 19.11%
- 5Y*
- —
- 10Y*
- —
MGRW.TO
- 1D
- -0.36%
- 1M
- 0.41%
- YTD
- 9.95%
- 6M
- 9.95%
- 1Y
- 24.13%
- 3Y*
- 19.65%
- 5Y*
- 11.61%
- 10Y*
- —
BMAX.TO vs. MGRW.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
BMAX.TO Brompton Enhanced Multi-Asset Income ETF | 10.31% | 17.88% | 19.43% | 11.56% | 5.83% |
MGRW.TO Mackenzie Growth Allocation ETF | 9.95% | 18.19% | 21.41% | 15.35% | 3.98% |
Correlation
The correlation between BMAX.TO and MGRW.TO is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Oct 20, 2022 | 0.44 |
The correlation between BMAX.TO and MGRW.TO shifts across timeframes, from 0.44 (all time) to 0.56 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BMAX.TO vs. MGRW.TO — Risk / Return Rank
BMAX.TO
MGRW.TO
BMAX.TO vs. MGRW.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Brompton Enhanced Multi-Asset Income ETF (BMAX.TO) and Mackenzie Growth Allocation ETF (MGRW.TO). 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.
| BMAX.TO | MGRW.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.42 | ||
| Sortino ratioReturn per unit of downside risk | -0.75 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.49 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.33 | 3.61 | -1.28 |
| Martin ratioReturn relative to average drawdown | 10.16 | 14.63 | -4.47 |
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Drawdowns
BMAX.TO vs. MGRW.TO - Drawdown Comparison
The maximum BMAX.TO drawdown since its inception was -15.42%, smaller than the maximum MGRW.TO drawdown of -17.20%. Use the drawdown chart below to compare losses from any high point for BMAX.TO and MGRW.TO.
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Drawdown Indicators
| BMAX.TO | MGRW.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.42% | -17.20% | +1.78% |
Max Drawdown (1Y)Largest decline over 1 year | -9.35% | -6.72% | -2.63% |
Max Drawdown (3Y)Largest decline over 3 years | -15.42% | -12.17% | -3.25% |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.20% | — |
Current DrawdownCurrent decline from peak | -1.60% | -1.41% | -0.19% |
Average DrawdownAverage peak-to-trough decline | -1.88% | -3.34% | +1.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.14% | 1.65% | +0.49% |
Volatility
BMAX.TO vs. MGRW.TO - Volatility Comparison
Brompton Enhanced Multi-Asset Income ETF (BMAX.TO) has a higher volatility of 3.99% compared to Mackenzie Growth Allocation ETF (MGRW.TO) at 3.13%. This indicates that BMAX.TO's price experiences larger fluctuations and is considered to be riskier than MGRW.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BMAX.TO | MGRW.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.99% | 3.13% | +0.86% |
Volatility (6M)Calculated over the trailing 6-month period | 9.34% | 8.45% | +0.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.12% | 10.20% | +0.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.16% | 10.74% | +2.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.16% | 10.51% | +2.65% |
Dividends
BMAX.TO vs. MGRW.TO - Dividend Comparison
BMAX.TO's dividend yield for the trailing twelve months is around 9.50%, more than MGRW.TO's 1.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
BMAX.TO Brompton Enhanced Multi-Asset Income ETF | 9.50% | 9.70% | 9.65% | 9.55% | 2.41% | 0.00% | 0.00% |
MGRW.TO Mackenzie Growth Allocation ETF | 1.73% | 1.84% | 1.93% | 2.28% | 2.44% | 1.77% | 0.79% |
Frequently Asked Questions
BMAX.TO and MGRW.TO have a correlation of 0.56, 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: Brompton Funds and Mackenzie.
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