MAAA.TO vs. QQQQ.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Mackenzie AAA CLO ETF (MAAA.TO) and Mackenzie NASDAQ 100 Index ETF (QQQQ.TO).

MAAA.TO and QQQQ.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. QQQQ.TO is a passively managed fund by Mackenzie that tracks the performance of the NASDAQ-100 Index. It was launched on Aug 19, 2025. Both MAAA.TO and QQQQ.TO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

MAAA.TO vs. QQQQ.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 NASDAQ 100 Index ETF (QQQQ.TO). The values are adjusted to include any dividend payments, if applicable.

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

	2026 (YTD)	2025
MAAA.TO Mackenzie AAA CLO ETF	0.28%	1.22%
QQQQ.TO Mackenzie NASDAQ 100 Index ETF	-6.15%	7.64%

Returns By Period

In the year-to-date period, MAAA.TO achieves a 0.28% return, which is significantly higher than QQQQ.TO's -6.15% return.

MAAA.TO

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

QQQQ.TO

• 1D: 2.02%
• 1M: -3.86%
• YTD: -6.15%
• 6M: -4.26%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

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

MAAA.TO has a 0.18% expense ratio, which is lower than QQQQ.TO's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

QQQQ.TO

Mackenzie NASDAQ 100 Index ETF

MAAA.TO

Mackenzie AAA CLO ETF

Return for Risk

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

This table presents a comparison of risk-adjusted performance metrics for Mackenzie AAA CLO ETF (MAAA.TO) and Mackenzie NASDAQ 100 Index ETF (QQQQ.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	QQQQ.TO	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.04	0.12	+0.91

Correlation

The correlation between MAAA.TO and QQQQ.TO is 0.13, 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. QQQQ.TO - Dividend Comparison

MAAA.TO's dividend yield for the trailing twelve months is around 3.85%, more than QQQQ.TO's 0.12% yield.

	TTM	2025
MAAA.TO Mackenzie AAA CLO ETF	3.85%	3.01%
QQQQ.TO Mackenzie NASDAQ 100 Index ETF	0.12%	0.11%

Drawdowns

MAAA.TO vs. QQQQ.TO - Drawdown Comparison

The maximum MAAA.TO drawdown since its inception was -1.87%, smaller than the maximum QQQQ.TO drawdown of -11.95%. Use the drawdown chart below to compare losses from any high point for MAAA.TO and QQQQ.TO.

Drawdown Indicators

	MAAA.TO	QQQQ.TO	Difference
Max Drawdown Largest peak-to-trough decline	-1.87%	-11.95%	+10.08%
Current Drawdown Current decline from peak	-0.25%	-10.17%	+9.92%
Average Drawdown Average peak-to-trough decline	-0.68%	-3.94%	+3.26%

Volatility

Volatility by Period

	MAAA.TO	QQQQ.TO	Difference
Volatility (1Y) Calculated over the trailing 1-year period	3.39%	16.52%	-13.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.39%	16.52%	-13.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.39%	16.52%	-13.13%