CAGG.TO vs. MKB.TO
CAGG.TO (CI Canadian Aggregate Bond Index ETF) and MKB.TO (Mackenzie Canadian Strategic Fixed Income ETF) are both Total Bond Market funds. Over the past 5 years, CAGG.TO returned 0.58%/yr vs 0.67%/yr for MKB.TO. At a 0.35 correlation, their price movements are largely independent.
Performance
CAGG.TO vs. MKB.TO - Performance Comparison
Loading charts...
Returns By Period
The year-to-date returns for both investments are quite close, with CAGG.TO having a 1.35% return and MKB.TO slightly higher at 1.40%.
CAGG.TO
- 1D
- 0.00%
- 1M
- -0.59%
- 6M
- 0.83%
- YTD
- 1.35%
- 1Y
- 4.42%
- 3Y*
- 4.54%
- 5Y*
- 0.58%
- 10Y*
- —
MKB.TO
- 1D
- -0.05%
- 1M
- -0.54%
- 6M
- 0.40%
- YTD
- 1.40%
- 1Y
- 4.40%
- 3Y*
- 4.44%
- 5Y*
- 0.67%
- 10Y*
- 1.66%
CAGG.TO vs. MKB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CAGG.TO CI Canadian Aggregate Bond Index ETF | 1.35% | 2.45% | 4.41% | 7.28% | -11.36% | -3.39% | 7.32% | 9.39% | 0.30% | -0.53% |
MKB.TO Mackenzie Canadian Strategic Fixed Income ETF | 1.40% | 2.54% | 4.70% | 6.67% | -11.07% | -2.34% | 8.29% | 6.55% | -1.13% | 1.45% |
Correlation
The correlation between CAGG.TO and MKB.TO is 0.66, 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 | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Jun 27, 2017 | 0.35 |
Over the past year, CAGG.TO and MKB.TO have become more correlated (0.66) than their long-term average of 0.35, meaning their price movements have been converging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
CAGG.TO vs. MKB.TO — Risk / Return Rank
CAGG.TO
MKB.TO
CAGG.TO vs. MKB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CI Canadian Aggregate Bond Index ETF (CAGG.TO) and Mackenzie Canadian Strategic Fixed Income ETF (MKB.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.
| CAGG.TO | MKB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.18 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | 1.48 | +0.15 |
| Martin ratioReturn relative to average drawdown | 4.04 | 3.82 | +0.22 |
Loading charts...
Drawdowns
CAGG.TO vs. MKB.TO - Drawdown Comparison
The maximum CAGG.TO drawdown since its inception was -18.77%, smaller than the maximum MKB.TO drawdown of -19.78%. Use the drawdown chart below to compare losses from any high point for CAGG.TO and MKB.TO.
Loading charts...
Drawdown Indicators
| CAGG.TO | MKB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.77% | -19.78% | +1.01% |
Max Drawdown (1Y)Largest decline over 1 year | -2.73% | -2.99% | +0.26% |
Max Drawdown (3Y)Largest decline over 3 years | -4.47% | -4.67% | +0.20% |
Max Drawdown (5Y)Largest decline over 5 years | -16.68% | -16.05% | -0.63% |
Max Drawdown (10Y)Largest decline over 10 years | — | -19.78% | — |
Current DrawdownCurrent decline from peak | -1.09% | -1.73% | +0.64% |
Average DrawdownAverage peak-to-trough decline | -5.47% | -5.55% | +0.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.10% | 1.15% | -0.05% |
Volatility
CAGG.TO vs. MKB.TO - Volatility Comparison
CI Canadian Aggregate Bond Index ETF (CAGG.TO) has a higher volatility of 1.40% compared to Mackenzie Canadian Strategic Fixed Income ETF (MKB.TO) at 1.27%. This indicates that CAGG.TO's price experiences larger fluctuations and is considered to be riskier than MKB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| CAGG.TO | MKB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.40% | 1.27% | +0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 3.28% | 3.16% | +0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.24% | 4.18% | +0.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.19% | 6.39% | -0.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.03% | 11.96% | -4.93% |
Dividends
CAGG.TO vs. MKB.TO - Dividend Comparison
CAGG.TO's dividend yield for the trailing twelve months is around 3.56%, more than MKB.TO's 3.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
CAGG.TO CI Canadian Aggregate Bond Index ETF | 3.56% | 3.36% | 2.82% | 3.25% | 4.11% | 2.42% | 2.77% | 3.00% | 2.74% | 1.51% | 0.00% |
MKB.TO Mackenzie Canadian Strategic Fixed Income ETF | 3.50% | 3.75% | 3.45% | 2.98% | 2.86% | 2.16% | 2.11% | 2.44% | 3.02% | 2.19% | 1.78% |
Frequently Asked Questions
CAGG.TO and MKB.TO have a correlation of 0.66, 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: CI and Mackenzie.
Find the right allocation for CAGG.TO and MKB.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer