MAAA.TO vs. WSHR.NEO

Last updated Apr 1, 2026

Compare and contrast key facts about Mackenzie AAA CLO ETF (MAAA.TO) and Wealthsimple Shariah World Equity Index ETF (WSHR.NEO).

MAAA.TO and WSHR.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. WSHR.NEO is a passively managed fund by Mackenzie that tracks the performance of the Dow Jones Islamic Market Developed Markets Quality and Low Volatility Index. It was launched on May 12, 2021. Both MAAA.TO and WSHR.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. WSHR.NEO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Mackenzie AAA CLO ETF (MAAA.TO) and Wealthsimple Shariah World Equity Index ETF (WSHR.NEO). The values are adjusted to include any dividend payments, if applicable.

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

	2026 (YTD)	2025
MAAA.TO Mackenzie AAA CLO ETF	0.28%	2.87%
WSHR.NEO Wealthsimple Shariah World Equity Index ETF	1.59%	4.73%

Returns By Period

In the year-to-date period, MAAA.TO achieves a 0.28% return, which is significantly lower than WSHR.NEO's 1.59% return.

MAAA.TO

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

WSHR.NEO

• 1D: 1.98%
• 1M: -5.02%
• YTD: 1.59%
• 6M: 1.19%
• 1Y: 2.71%
• 3Y*: 8.12%
• 5Y*: —
• 10Y*: —

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

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

MAAA.TO has a 0.18% expense ratio, which is lower than WSHR.NEO's 0.56% expense ratio.

WSHR.NEO

Wealthsimple Shariah World Equity Index ETF

MAAA.TO

Mackenzie AAA CLO ETF

Return for Risk

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

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

WSHR.NEO

WSHR.NEO Risk / Return Rank: 18
WSHR.NEO Sharpe Ratio Rank: 17
WSHR.NEO Sortino Ratio Rank: 16
WSHR.NEO Omega Ratio Rank: 16
WSHR.NEO Calmar Ratio Rank: 20
WSHR.NEO Martin Ratio Rank: 21

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. WSHR.NEO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Mackenzie AAA CLO ETF (MAAA.TO) and Wealthsimple Shariah World Equity Index ETF (WSHR.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	WSHR.NEO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.19	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.04	0.64	+0.39

Correlation

The correlation between MAAA.TO and WSHR.NEO is 0.02, 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. WSHR.NEO - Dividend Comparison

MAAA.TO's dividend yield for the trailing twelve months is around 3.85%, more than WSHR.NEO's 1.37% yield.

	TTM	2025	2024	2023	2022	2021
MAAA.TO Mackenzie AAA CLO ETF	3.85%	3.01%	0.00%	0.00%	0.00%	0.00%
WSHR.NEO Wealthsimple Shariah World Equity Index ETF	1.37%	1.34%	1.31%	1.34%	2.58%	0.44%

Drawdowns

MAAA.TO vs. WSHR.NEO - Drawdown Comparison

The maximum MAAA.TO drawdown since its inception was -1.87%, smaller than the maximum WSHR.NEO drawdown of -20.86%. Use the drawdown chart below to compare losses from any high point for MAAA.TO and WSHR.NEO.

Drawdown Indicators

	MAAA.TO	WSHR.NEO	Difference
Max Drawdown Largest peak-to-trough decline	-1.87%	-20.86%	+18.99%
Max Drawdown (1Y) Largest decline over 1 year	—	-9.72%	—
Current Drawdown Current decline from peak	-0.25%	-5.02%	+4.77%
Average Drawdown Average peak-to-trough decline	-0.68%	-4.87%	+4.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.93%	—

Volatility

Volatility by Period

	MAAA.TO	WSHR.NEO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.33%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.96%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.39%	14.19%	-10.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.39%	11.18%	-7.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.39%	11.18%	-7.79%