MAAA.TO vs. QTIP.NEO

Last updated Apr 1, 2026

Compare and contrast key facts about Mackenzie AAA CLO ETF (MAAA.TO) and Mackenzie US TIPS Index ETF (CAD-Hedged) (QTIP.NEO).

MAAA.TO and QTIP.NEO 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. QTIP.NEO is a passively managed fund by Mackenzie that tracks the performance of the Solactive US Treasury Inflation-Linked Bond Hedged to CAD TR Index. It was launched on Jan 24, 2018. Both MAAA.TO and QTIP.NEO 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. QTIP.NEO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Mackenzie AAA CLO ETF (MAAA.TO) and Mackenzie US TIPS Index ETF (CAD-Hedged) (QTIP.NEO). The values are adjusted to include any dividend payments, if applicable.

MAAA.TO vs. QTIP.NEO - Yearly Performance Comparison

	2026 (YTD)	2025
MAAA.TO Mackenzie AAA CLO ETF	0.28%	2.87%
QTIP.NEO Mackenzie US TIPS Index ETF (CAD-Hedged)	0.29%	1.29%

Returns By Period

The year-to-date returns for both investments are quite close, with MAAA.TO having a 0.28% return and QTIP.NEO slightly higher at 0.29%.

MAAA.TO

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

QTIP.NEO

• 1D: 0.30%
• 1M: -1.31%
• YTD: 0.29%
• 6M: -0.36%
• 1Y: 1.29%
• 3Y*: 1.89%
• 5Y*: 0.54%
• 10Y*: —

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

MAAA.TO vs. QTIP.NEO - Expense Ratio Comparison

MAAA.TO has a 0.18% expense ratio, which is higher than QTIP.NEO's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

MAAA.TO

Mackenzie AAA CLO ETF

QTIP.NEO

Mackenzie US TIPS Index ETF (CAD-Hedged)

Return for Risk

MAAA.TO vs. QTIP.NEO — Risk / Return Rank

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

QTIP.NEO

QTIP.NEO Risk / Return Rank: 20
QTIP.NEO Sharpe Ratio Rank: 20
QTIP.NEO Sortino Ratio Rank: 17
QTIP.NEO Omega Ratio Rank: 16
QTIP.NEO Calmar Ratio Rank: 25
QTIP.NEO Martin Ratio Rank: 22

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. QTIP.NEO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Mackenzie AAA CLO ETF (MAAA.TO) and Mackenzie US TIPS Index ETF (CAD-Hedged) (QTIP.NEO). 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	QTIP.NEO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.32	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.09	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.04	0.34	+0.70

Correlation

The correlation between MAAA.TO and QTIP.NEO is -0.14. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

MAAA.TO vs. QTIP.NEO - Dividend Comparison

MAAA.TO's dividend yield for the trailing twelve months is around 3.85%, less than QTIP.NEO's 4.31% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
MAAA.TO Mackenzie AAA CLO ETF	3.85%	3.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QTIP.NEO Mackenzie US TIPS Index ETF (CAD-Hedged)	4.31%	4.54%	4.53%	5.08%	9.47%	5.24%	2.17%	2.29%	2.91%

Drawdowns

MAAA.TO vs. QTIP.NEO - Drawdown Comparison

The maximum MAAA.TO drawdown since its inception was -1.87%, smaller than the maximum QTIP.NEO drawdown of -15.03%. Use the drawdown chart below to compare losses from any high point for MAAA.TO and QTIP.NEO.

Drawdown Indicators

	MAAA.TO	QTIP.NEO	Difference
Max Drawdown Largest peak-to-trough decline	-1.87%	-15.03%	+13.16%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.65%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-15.03%	—
Current Drawdown Current decline from peak	-0.25%	-4.64%	+4.39%
Average Drawdown Average peak-to-trough decline	-0.68%	-4.80%	+4.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.09%	—

Volatility

Volatility by Period

	MAAA.TO	QTIP.NEO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.37%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.49%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.39%	4.10%	-0.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.39%	6.26%	-2.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.39%	6.36%	-2.97%