MCSB.TO vs. QQQQ.TO

Last updated Jul 16, 2026

MCSB.TO (Mackenzie Canadian Short Term Fixed Income ETF) and QQQQ.TO (Mackenzie NASDAQ 100 Index ETF) are both exchange-traded funds - MCSB.TO is a Short-Term Bond fund actively managed by Mackenzie, while QQQQ.TO is a Nasdaq-100 fund tracking the NASDAQ-100 Index. MCSB.TO is actively managed, while QQQQ.TO is passively managed. At a 0.08 correlation, their price movements are largely independent.

Performance

MCSB.TO vs. QQQQ.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Mackenzie Canadian Short Term Fixed Income ETF (MCSB.TO) and Mackenzie NASDAQ 100 Index ETF (QQQQ.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MCSB.TO achieves a 1.47% return, which is significantly lower than QQQQ.TO's 19.55% 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*: —

QQQQ.TO

• 1D: -0.10%
• 1M: 3.94%
• 6M: 15.84%
• YTD: 19.55%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

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

	2026 (YTD)	2025
MCSB.TO Mackenzie Canadian Short Term Fixed Income ETF	1.47%	1.45%
QQQQ.TO Mackenzie NASDAQ 100 Index ETF	19.55%	7.09%

Correlation

The correlation between MCSB.TO and QQQQ.TO is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 19, 2025	0.08

Return for Risk

MCSB.TO vs. QQQQ.TO — Risk / Return Rank

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

MCSB.TO

MCSB.TO Risk / Return Rank: 53
MCSB.TO Sharpe Ratio Rank: 53
MCSB.TO Sortino Ratio Rank: 52
MCSB.TO Omega Ratio Rank: 58
MCSB.TO Calmar Ratio Rank: 56
MCSB.TO Martin Ratio Rank: 48

QQQQ.TO

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

MCSB.TO vs. QQQQ.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 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.

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	QQQQ.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.49	—	—
Sortino ratio: Return per unit of downside risk	2.11	—	—
Omega ratio: Gain probability vs. loss probability	1.29	—	—
Calmar ratio: Return relative to maximum drawdown	2.27	—	—
Martin ratio: Return relative to average drawdown	6.58	—	—

Drawdowns

MCSB.TO vs. QQQQ.TO - Drawdown Comparison

The maximum MCSB.TO drawdown since its inception was -8.35%, smaller than the maximum QQQQ.TO drawdown of -12.27%. Use the drawdown chart below to compare losses from any high point for MCSB.TO and QQQQ.TO.

Drawdown Indicators

	MCSB.TO	QQQQ.TO	Difference
Max Drawdown Largest peak-to-trough decline	-8.35%	-12.27%	+3.92%
Max Drawdown (1Y) Largest decline over 1 year	-1.49%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-1.49%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-6.24%	—	—
Current Drawdown Current decline from peak	-0.34%	-3.73%	+3.39%
Average Drawdown Average peak-to-trough decline	-1.05%	-3.16%	+2.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.51%	—	—

Volatility

Volatility by Period

	MCSB.TO	QQQQ.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.71%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.62%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.26%	19.66%	-17.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.42%	19.66%	-13.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.83%	19.66%	-13.83%

Dividends

MCSB.TO vs. QQQQ.TO - Dividend Comparison

MCSB.TO's dividend yield for the trailing twelve months is around 3.12%, more than QQQQ.TO's 0.09% 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%
QQQQ.TO Mackenzie NASDAQ 100 Index ETF	0.09%	0.11%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MCSB.TO and QQQQ.TO in my portfolio?

MCSB.TO and QQQQ.TO have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between MCSB.TO and QQQQ.TO?

MCSB.TO is categorized as Short-Term Bond, while QQQQ.TO is Nasdaq-100.