FFIX.NEO vs. MGB.TO
FFIX.NEO (Fidelity All-in-One Fixed Income ETF) and MGB.TO (Mackenzie Core Plus Global Fixed Income ETF) are both Global Bonds funds. Both are actively managed. Over the past year, FFIX.NEO returned 4.39% vs 3.95% for MGB.TO. At a 0.38 correlation, their price movements are largely independent.
Performance
FFIX.NEO vs. MGB.TO - Performance Comparison
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Returns By Period
In the year-to-date period, FFIX.NEO achieves a 1.12% return, which is significantly higher than MGB.TO's -0.02% return.
FFIX.NEO
- 1D
- 0.20%
- 1M
- 0.06%
- 6M
- 0.51%
- YTD
- 1.12%
- 1Y
- 4.39%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MGB.TO
- 1D
- 0.13%
- 1M
- 0.38%
- 6M
- -0.27%
- YTD
- -0.02%
- 1Y
- 3.95%
- 3Y*
- 3.28%
- 5Y*
- 0.03%
- 10Y*
- 1.30%
FFIX.NEO vs. MGB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
FFIX.NEO Fidelity All-in-One Fixed Income ETF | 1.12% | 2.76% |
MGB.TO Mackenzie Core Plus Global Fixed Income ETF | -0.02% | 3.10% |
Correlation
The correlation between FFIX.NEO and MGB.TO is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Jun 16, 2025 | 0.38 |
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Return for Risk
FFIX.NEO vs. MGB.TO — Risk / Return Rank
FFIX.NEO
MGB.TO
FFIX.NEO vs. MGB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity All-in-One Fixed Income ETF (FFIX.NEO) and Mackenzie Core Plus Global Fixed Income ETF (MGB.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.
| FFIX.NEO | MGB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.36 | ||
| Sortino ratioReturn per unit of downside risk | +0.48 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.12 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.71 | 1.17 | +0.54 |
| Martin ratioReturn relative to average drawdown | 4.88 | 2.66 | +2.22 |
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Drawdowns
FFIX.NEO vs. MGB.TO - Drawdown Comparison
The maximum FFIX.NEO drawdown since its inception was -2.57%, smaller than the maximum MGB.TO drawdown of -17.54%. Use the drawdown chart below to compare losses from any high point for FFIX.NEO and MGB.TO.
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Drawdown Indicators
| FFIX.NEO | MGB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.57% | -17.54% | +14.97% |
Max Drawdown (1Y)Largest decline over 1 year | -2.57% | -3.39% | +0.82% |
Max Drawdown (3Y)Largest decline over 3 years | — | -4.66% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -16.67% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -17.54% | — |
Current DrawdownCurrent decline from peak | -1.00% | -1.96% | +0.96% |
Average DrawdownAverage peak-to-trough decline | -0.71% | -4.12% | +3.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.90% | 1.49% | -0.59% |
Volatility
FFIX.NEO vs. MGB.TO - Volatility Comparison
The current volatility for Fidelity All-in-One Fixed Income ETF (FFIX.NEO) is 1.39%, while Mackenzie Core Plus Global Fixed Income ETF (MGB.TO) has a volatility of 1.84%. This indicates that FFIX.NEO experiences smaller price fluctuations and is considered to be less risky than MGB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FFIX.NEO | MGB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.39% | 1.84% | -0.45% |
Volatility (6M)Calculated over the trailing 6-month period | 3.29% | 4.46% | -1.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.24% | 5.82% | -1.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.23% | 7.36% | -3.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.23% | 7.07% | -2.84% |
Dividends
FFIX.NEO vs. MGB.TO - Dividend Comparison
FFIX.NEO's dividend yield for the trailing twelve months is around 4.04%, more than MGB.TO's 3.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
FFIX.NEO Fidelity All-in-One Fixed Income ETF | 4.04% | 2.33% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MGB.TO Mackenzie Core Plus Global Fixed Income ETF | 3.67% | 4.33% | 4.74% | 4.62% | 6.10% | 3.08% | 2.00% | 2.99% | 4.07% | 2.77% | 2.06% |
Frequently Asked Questions
FFIX.NEO and MGB.TO have a correlation of 0.37, 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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