MAAA.TO vs. MFT.TO
MAAA.TO (Mackenzie AAA CLO ETF) and MFT.TO (Mackenzie Floating Rate Income ETF) are both exchange-traded funds - MAAA.TO is a CLO fund tracking the JPM CLOIE AAA Index (CAD-hedged), while MFT.TO is a Corporate Bonds fund actively managed by Mackenzie. MAAA.TO is passively managed, while MFT.TO is actively managed. Over the past year, MAAA.TO returned 3.05% vs 2.89% for MFT.TO. At a 0.07 correlation, their price movements are largely independent.
Performance
MAAA.TO vs. MFT.TO - Performance Comparison
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Returns By Period
In the year-to-date period, MAAA.TO achieves a 1.33% return, which is significantly lower than MFT.TO's 3.12% return.
MAAA.TO
- 1D
- 0.00%
- 1M
- 0.04%
- 6M
- 1.19%
- YTD
- 1.33%
- 1Y
- 3.05%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MFT.TO
- 1D
- 0.38%
- 1M
- 0.92%
- 6M
- 2.86%
- YTD
- 3.12%
- 1Y
- 2.89%
- 3Y*
- 5.69%
- 5Y*
- 3.83%
- 10Y*
- 4.32%
MAAA.TO vs. MFT.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MAAA.TO Mackenzie AAA CLO ETF | 1.33% | 2.75% |
MFT.TO Mackenzie Floating Rate Income ETF | 3.12% | 2.00% |
Correlation
The correlation between MAAA.TO and MFT.TO is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since May 5, 2025 | 0.07 |
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Return for Risk
MAAA.TO vs. MFT.TO — Risk / Return Rank
MAAA.TO
MFT.TO
MAAA.TO vs. MFT.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Mackenzie AAA CLO ETF (MAAA.TO) and Mackenzie Floating Rate Income ETF (MFT.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.
| MAAA.TO | MFT.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.06 | ||
| Sortino ratioReturn per unit of downside risk | +1.67 | ||
| Omega ratioGain probability vs. loss probability | 1.58 | 1.20 | +0.38 |
| Calmar ratioReturn relative to maximum drawdown | 6.02 | 2.19 | +3.83 |
| Martin ratioReturn relative to average drawdown | 21.34 | 5.24 | +16.11 |
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Drawdowns
MAAA.TO vs. MFT.TO - Drawdown Comparison
The maximum MAAA.TO drawdown since its inception was -0.51%, smaller than the maximum MFT.TO drawdown of -20.87%. Use the drawdown chart below to compare losses from any high point for MAAA.TO and MFT.TO.
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Drawdown Indicators
| MAAA.TO | MFT.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.51% | -20.87% | +20.36% |
Max Drawdown (1Y)Largest decline over 1 year | -0.51% | -1.33% | +0.82% |
Max Drawdown (3Y)Largest decline over 3 years | — | -3.40% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -7.45% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -20.87% | — |
Current DrawdownCurrent decline from peak | -0.24% | 0.00% | -0.24% |
Average DrawdownAverage peak-to-trough decline | -0.09% | -1.38% | +1.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.14% | 0.55% | -0.41% |
Volatility
MAAA.TO vs. MFT.TO - Volatility Comparison
The current volatility for Mackenzie AAA CLO ETF (MAAA.TO) is 0.43%, while Mackenzie Floating Rate Income ETF (MFT.TO) has a volatility of 0.86%. This indicates that MAAA.TO experiences smaller price fluctuations and is considered to be less risky than MFT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MAAA.TO | MFT.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.43% | 0.86% | -0.43% |
Volatility (6M)Calculated over the trailing 6-month period | 1.14% | 1.84% | -0.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.40% | 2.60% | -1.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.46% | 3.72% | -2.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.46% | 5.10% | -3.64% |
Dividends
MAAA.TO vs. MFT.TO - Dividend Comparison
MAAA.TO's dividend yield for the trailing twelve months is around 5.09%, less than MFT.TO's 8.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
MAAA.TO Mackenzie AAA CLO ETF | 5.09% | 3.01% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MFT.TO Mackenzie Floating Rate Income ETF | 8.24% | 8.57% | 9.44% | 10.40% | 6.26% | 3.89% | 6.18% | 6.97% | 6.14% | 4.84% | 3.94% |
Frequently Asked Questions
MAAA.TO and MFT.TO have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MAAA.TO is categorized as CLO, while MFT.TO is Corporate Bonds.
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