MAW120.TO vs. FBAL.NEO

Last updated Apr 2, 2026

Compare and contrast key facts about Mawer Global Equity Fund A (MAW120.TO) and Fidelity All-in-One Balanced ETF (FBAL.NEO).

MAW120.TO is managed by Mawer. It was launched on Oct 22, 2009. FBAL.NEO is an actively managed fund by Fidelity. It was launched on Jan 21, 2021.

Performance

MAW120.TO vs. FBAL.NEO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Mawer Global Equity Fund A (MAW120.TO) and Fidelity All-in-One Balanced ETF (FBAL.NEO). The values are adjusted to include any dividend payments, if applicable.

MAW120.TO vs. FBAL.NEO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
MAW120.TO Mawer Global Equity Fund A	-3.73%	-5.87%	10.26%	16.42%	-11.46%	19.44%
FBAL.NEO Fidelity All-in-One Balanced ETF	1.39%	12.92%	19.42%	13.96%	-7.02%	11.50%

Returns By Period

In the year-to-date period, MAW120.TO achieves a -3.73% return, which is significantly lower than FBAL.NEO's 1.39% return.

MAW120.TO

• 1D: 0.84%
• 1M: -4.45%
• YTD: -3.73%
• 6M: -7.95%
• 1Y: -7.11%
• 3Y*: 3.25%
• 5Y*: 3.79%
• 10Y*: —

FBAL.NEO

• 1D: 0.48%
• 1M: -2.80%
• YTD: 1.39%
• 6M: 2.66%
• 1Y: 12.15%
• 3Y*: 14.02%
• 5Y*: 10.00%
• 10Y*: —

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

MAW120.TO vs. FBAL.NEO - Expense Ratio Comparison

MAW120.TO has a 1.29% expense ratio, which is higher than FBAL.NEO's 0.40% expense ratio.

MAW120.TO

Mawer Global Equity Fund A

FBAL.NEO

Fidelity All-in-One Balanced ETF

Return for Risk

MAW120.TO vs. FBAL.NEO — Risk / Return Rank

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

MAW120.TO

MAW120.TO Risk / Return Rank: 1
MAW120.TO Sharpe Ratio Rank: 1
MAW120.TO Sortino Ratio Rank: 1
MAW120.TO Omega Ratio Rank: 1
MAW120.TO Calmar Ratio Rank: 0
MAW120.TO Martin Ratio Rank: 1

FBAL.NEO

FBAL.NEO Risk / Return Rank: 67
FBAL.NEO Sharpe Ratio Rank: 73
FBAL.NEO Sortino Ratio Rank: 71
FBAL.NEO Omega Ratio Rank: 70
FBAL.NEO Calmar Ratio Rank: 61
FBAL.NEO Martin Ratio Rank: 62

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.

MAW120.TO vs. FBAL.NEO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Mawer Global Equity Fund A (MAW120.TO) and Fidelity All-in-One Balanced ETF (FBAL.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.

	MAW120.TO	FBAL.NEO	Difference
Sharpe ratio Return per unit of total volatility	-0.70	1.37	-2.07
Sortino ratio Return per unit of downside risk	-0.85	1.85	-2.70
Omega ratio Gain probability vs. loss probability	0.88	1.27	-0.39
Calmar ratio Return relative to maximum drawdown	-0.77	1.67	-2.44
Martin ratio Return relative to average drawdown	-1.83	6.49	-8.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MAW120.TO vs. FBAL.NEO - Sharpe Ratio Comparison

The current MAW120.TO Sharpe Ratio is -0.70, which is lower than the FBAL.NEO Sharpe Ratio of 1.37. The chart below compares the historical Sharpe Ratios of MAW120.TO and FBAL.NEO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MAW120.TO	FBAL.NEO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.70	1.37	-2.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.34	1.17	-0.83
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	1.13	-0.60

Correlation

The correlation between MAW120.TO and FBAL.NEO is 0.66, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

MAW120.TO vs. FBAL.NEO - Dividend Comparison

MAW120.TO has not paid dividends to shareholders, while FBAL.NEO's dividend yield for the trailing twelve months is around 1.59%.

	TTM	2025	2024	2023	2022	2021
MAW120.TO Mawer Global Equity Fund A	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FBAL.NEO Fidelity All-in-One Balanced ETF	1.59%	1.61%	1.42%	1.71%	4.48%	1.08%

Drawdowns

MAW120.TO vs. FBAL.NEO - Drawdown Comparison

The maximum MAW120.TO drawdown since its inception was -25.02%, which is greater than FBAL.NEO's maximum drawdown of -13.83%. Use the drawdown chart below to compare losses from any high point for MAW120.TO and FBAL.NEO.

Drawdown Indicators

	MAW120.TO	FBAL.NEO	Difference
Max Drawdown Largest peak-to-trough decline	-25.02%	-13.83%	-11.19%
Max Drawdown (1Y) Largest decline over 1 year	-10.70%	-7.39%	-3.31%
Max Drawdown (5Y) Largest decline over 5 years	-20.92%	-13.83%	-7.09%
Current Drawdown Current decline from peak	-13.19%	-3.32%	-9.87%
Average Drawdown Average peak-to-trough decline	-4.43%	-2.48%	-1.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.51%	1.90%	+2.61%

Volatility

MAW120.TO vs. FBAL.NEO - Volatility Comparison

The current volatility for Mawer Global Equity Fund A (MAW120.TO) is 3.48%, while Fidelity All-in-One Balanced ETF (FBAL.NEO) has a volatility of 3.90%. This indicates that MAW120.TO experiences smaller price fluctuations and is considered to be less risky than FBAL.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MAW120.TO	FBAL.NEO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.48%	3.90%	-0.42%
Volatility (6M) Calculated over the trailing 6-month period	8.00%	6.05%	+1.95%
Volatility (1Y) Calculated over the trailing 1-year period	12.37%	8.91%	+3.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.47%	8.60%	+2.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.00%	8.57%	+4.43%