MCSB.TO vs. MGRW.TO
MCSB.TO (Mackenzie Canadian Short Term Fixed Income ETF) and MGRW.TO (Mackenzie Growth Allocation ETF) are both exchange-traded funds - MCSB.TO is a Short-Term Bond fund actively managed by Mackenzie, while MGRW.TO is a Diversified Portfolio fund actively managed by Mackenzie. Both are actively managed. Over the past 5 years, MCSB.TO returned 5.00%/yr vs 11.39%/yr for MGRW.TO. At a 0.11 correlation, their price movements are largely independent.
Performance
MCSB.TO vs. MGRW.TO - Performance Comparison
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Returns By Period
In the year-to-date period, MCSB.TO achieves a 1.47% return, which is significantly lower than MGRW.TO's 10.77% return.
MCSB.TO
- 1D
- 0.15%
- 1M
- 0.06%
- 6M
- 1.06%
- YTD
- 1.47%
- 1Y
- 3.36%
- 3Y*
- 5.41%
- 5Y*
- 5.00%
- 10Y*
- —
MGRW.TO
- 1D
- 0.38%
- 1M
- 1.12%
- 6M
- 8.14%
- YTD
- 10.77%
- 1Y
- 23.31%
- 3Y*
- 18.65%
- 5Y*
- 11.39%
- 10Y*
- —
MCSB.TO vs. MGRW.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
MCSB.TO Mackenzie Canadian Short Term Fixed Income ETF | 1.47% | 3.93% | 6.41% | 5.77% | -4.18% | 11.34% | 1.33% |
MGRW.TO Mackenzie Growth Allocation ETF | 10.77% | 18.19% | 21.41% | 15.35% | -9.30% | 13.37% | 7.50% |
Correlation
The correlation between MCSB.TO and MGRW.TO is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Sep 29, 2020 | 0.11 |
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Return for Risk
MCSB.TO vs. MGRW.TO — Risk / Return Rank
MCSB.TO
MGRW.TO
MCSB.TO vs. MGRW.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Mackenzie Canadian Short Term Fixed Income ETF (MCSB.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| MCSB.TO | MGRW.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.80 | ||
| Sortino ratioReturn per unit of downside risk | -1.31 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.47 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 2.27 | 3.49 | -1.22 |
| Martin ratioReturn relative to average drawdown | 6.58 | 14.04 | -7.46 |
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Drawdowns
MCSB.TO vs. MGRW.TO - Drawdown Comparison
The maximum MCSB.TO drawdown since its inception was -8.35%, smaller than the maximum MGRW.TO drawdown of -17.20%. Use the drawdown chart below to compare losses from any high point for MCSB.TO and MGRW.TO.
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Drawdown Indicators
| MCSB.TO | MGRW.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.35% | -17.20% | +8.85% |
Max Drawdown (1Y)Largest decline over 1 year | -1.49% | -6.72% | +5.23% |
Max Drawdown (3Y)Largest decline over 3 years | -1.49% | -12.17% | +10.68% |
Max Drawdown (5Y)Largest decline over 5 years | -6.24% | -17.20% | +10.96% |
Current DrawdownCurrent decline from peak | -0.34% | -1.08% | +0.74% |
Average DrawdownAverage peak-to-trough decline | -1.05% | -3.32% | +2.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.51% | 1.67% | -1.16% |
Volatility
MCSB.TO vs. MGRW.TO - Volatility Comparison
The current volatility for Mackenzie Canadian Short Term Fixed Income ETF (MCSB.TO) is 0.71%, while Mackenzie Growth Allocation ETF (MGRW.TO) has a volatility of 2.41%. This indicates that MCSB.TO experiences smaller price fluctuations and is considered to be less risky than MGRW.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MCSB.TO | MGRW.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.71% | 2.41% | -1.70% |
Volatility (6M)Calculated over the trailing 6-month period | 1.62% | 8.45% | -6.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.26% | 10.23% | -7.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.42% | 10.76% | -4.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.83% | 10.48% | -4.65% |
Dividends
MCSB.TO vs. MGRW.TO - Dividend Comparison
MCSB.TO's dividend yield for the trailing twelve months is around 3.12%, more than MGRW.TO's 1.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
MCSB.TO Mackenzie Canadian Short Term Fixed Income ETF | 3.12% | 3.16% | 3.17% | 3.18% | 2.47% | 12.93% | 2.47% | 2.31% | 2.91% | 0.14% |
MGRW.TO Mackenzie Growth Allocation ETF | 1.71% | 1.84% | 1.93% | 2.28% | 2.44% | 1.77% | 0.79% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MCSB.TO and MGRW.TO have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MCSB.TO is categorized as Short-Term Bond, while MGRW.TO is Diversified Portfolio.
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