FEQT.NEO vs. MGRW.TO
FEQT.NEO (Fidelity All-in-One Equity ETF Fund) and MGRW.TO (Mackenzie Growth Allocation ETF) are both Diversified Portfolio funds. Both are actively managed. Over the past year, FEQT.NEO returned 25.84% vs 25.85% for MGRW.TO. A 0.54 correlation means they provide meaningful diversification when combined.
Performance
FEQT.NEO vs. MGRW.TO - Performance Comparison
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Returns By Period
In the year-to-date period, FEQT.NEO achieves a 10.90% return, which is significantly higher than MGRW.TO's 9.90% return.
FEQT.NEO
- 1D
- 0.54%
- 1M
- 4.10%
- YTD
- 10.90%
- 6M
- 10.77%
- 1Y
- 25.84%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MGRW.TO
- 1D
- 0.05%
- 1M
- 4.58%
- YTD
- 9.90%
- 6M
- 9.89%
- 1Y
- 25.85%
- 3Y*
- 19.61%
- 5Y*
- 12.14%
- 10Y*
- —
FEQT.NEO vs. MGRW.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FEQT.NEO Fidelity All-in-One Equity ETF Fund | 10.90% | 19.42% | 14.08% |
MGRW.TO Mackenzie Growth Allocation ETF | 9.90% | 18.19% | 12.01% |
Correlation
The correlation between FEQT.NEO and MGRW.TO is 0.60, 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 | 0.60 |
Correlation (All Time) Calculated using the full available price history since May 14, 2024 | 0.54 |
The correlation between FEQT.NEO and MGRW.TO has been stable across timeframes, ranging from 0.54 to 0.60 - a consistent structural relationship.
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Return for Risk
FEQT.NEO vs. MGRW.TO — Risk / Return Rank
FEQT.NEO
MGRW.TO
FEQT.NEO vs. MGRW.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity All-in-One Equity ETF Fund (FEQT.NEO) 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.
| FEQT.NEO | MGRW.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.28 | ||
| Sortino ratioReturn per unit of downside risk | -0.67 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.56 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 3.12 | 3.87 | -0.75 |
| Martin ratioReturn relative to average drawdown | 13.53 | 15.91 | -2.38 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FEQT.NEO | MGRW.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.36 | 2.64 | -0.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 1.14 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.79 | 1.25 | +0.54 |
Drawdowns
FEQT.NEO vs. MGRW.TO - Drawdown Comparison
The maximum FEQT.NEO drawdown since its inception was -13.24%, smaller than the maximum MGRW.TO drawdown of -17.20%. Use the drawdown chart below to compare losses from any high point for FEQT.NEO and MGRW.TO.
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Drawdown Indicators
| FEQT.NEO | MGRW.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.24% | -17.20% | +3.96% |
Max Drawdown (1Y)Largest decline over 1 year | -8.31% | -6.72% | -1.59% |
Max Drawdown (3Y)Largest decline over 3 years | — | -12.17% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.20% | — |
Current DrawdownCurrent decline from peak | -0.48% | 0.00% | -0.48% |
Average DrawdownAverage peak-to-trough decline | -1.45% | -3.37% | +1.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.91% | 1.63% | +0.28% |
Volatility
FEQT.NEO vs. MGRW.TO - Volatility Comparison
Fidelity All-in-One Equity ETF Fund (FEQT.NEO) has a higher volatility of 3.90% compared to Mackenzie Growth Allocation ETF (MGRW.TO) at 3.39%. This indicates that FEQT.NEO'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
| FEQT.NEO | MGRW.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.90% | 3.39% | +0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 8.89% | 8.09% | +0.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.02% | 9.87% | +1.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.44% | 10.68% | +1.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.44% | 10.49% | +1.95% |
Dividends
FEQT.NEO vs. MGRW.TO - Dividend Comparison
FEQT.NEO's dividend yield for the trailing twelve months is around 0.82%, less than MGRW.TO's 1.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
FEQT.NEO Fidelity All-in-One Equity ETF Fund | 0.82% | 0.91% | 0.91% | 0.00% | 0.00% | 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
FEQT.NEO and MGRW.TO have a correlation of 0.60, 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: Fidelity and Mackenzie.
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