MAAA.TO vs. MGRW.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Mackenzie AAA CLO ETF (MAAA.TO) and Mackenzie Growth Allocation ETF (MGRW.TO).

MAAA.TO and MGRW.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MAAA.TO is a passively managed fund by Mackenzie that tracks the performance of the JPM CLOIE AAA Index (CAD-hedged). It was launched on May 1, 2025. MGRW.TO is an actively managed fund by Mackenzie. It was launched on Sep 29, 2020.

Performance

MAAA.TO vs. MGRW.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Mackenzie AAA CLO ETF (MAAA.TO) and Mackenzie Growth Allocation ETF (MGRW.TO). The values are adjusted to include any dividend payments, if applicable.

MAAA.TO vs. MGRW.TO - Yearly Performance Comparison

	2026 (YTD)	2025
MAAA.TO Mackenzie AAA CLO ETF	0.28%	2.87%
MGRW.TO Mackenzie Growth Allocation ETF	-2.32%	19.60%

Returns By Period

In the year-to-date period, MAAA.TO achieves a 0.28% return, which is significantly higher than MGRW.TO's -2.32% return.

MAAA.TO

• 1D: -0.02%
• 1M: 0.17%
• YTD: 0.28%
• 6M: 1.26%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MGRW.TO

• 1D: 0.12%
• 1M: -6.17%
• YTD: -2.32%
• 6M: 0.61%
• 1Y: 14.96%
• 3Y*: 15.18%
• 5Y*: 9.95%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

MAAA.TO vs. MGRW.TO - Expense Ratio Comparison

MAAA.TO

Mackenzie AAA CLO ETF

Return for Risk

MAAA.TO vs. MGRW.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MGRW.TO

MGRW.TO Risk / Return Rank: 67
MGRW.TO Sharpe Ratio Rank: 73
MGRW.TO Sortino Ratio Rank: 71
MGRW.TO Omega Ratio Rank: 73
MGRW.TO Calmar Ratio Rank: 57
MGRW.TO Martin Ratio Rank: 63

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MAAA.TO vs. MGRW.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Mackenzie AAA CLO ETF (MAAA.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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	MAAA.TO	MGRW.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.35	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.96	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.04	1.08	-0.04

Correlation

The correlation between MAAA.TO and MGRW.TO is 0.08, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

MAAA.TO vs. MGRW.TO - Dividend Comparison

MAAA.TO's dividend yield for the trailing twelve months is around 3.85%, more than MGRW.TO's 1.94% yield.

	TTM	2025	2024	2023	2022	2021	2020
MAAA.TO Mackenzie AAA CLO ETF	3.85%	3.01%	0.00%	0.00%	0.00%	0.00%	0.00%
MGRW.TO Mackenzie Growth Allocation ETF	1.94%	1.84%	1.93%	2.28%	2.44%	1.77%	0.79%

Drawdowns

MAAA.TO vs. MGRW.TO - Drawdown Comparison

The maximum MAAA.TO drawdown since its inception was -1.87%, smaller than the maximum MGRW.TO drawdown of -17.20%. Use the drawdown chart below to compare losses from any high point for MAAA.TO and MGRW.TO.

Drawdown Indicators

	MAAA.TO	MGRW.TO	Difference
Max Drawdown Largest peak-to-trough decline	-1.87%	-17.20%	+15.33%
Max Drawdown (1Y) Largest decline over 1 year	—	-9.38%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.20%	—
Current Drawdown Current decline from peak	-0.25%	-6.60%	+6.35%
Average Drawdown Average peak-to-trough decline	-0.68%	-3.45%	+2.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.18%	—

Volatility

Volatility by Period

	MAAA.TO	MGRW.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.65%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.07%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.39%	11.14%	-7.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.39%	10.43%	-7.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.39%	10.37%	-6.98%