PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
MCSB.TO vs. VSC.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MCSB.TO vs. VSC.TO

Last updated Jul 16, 2026
Documentation

MCSB.TO (Mackenzie Canadian Short Term Fixed Income ETF) and VSC.TO (Vanguard Canadian Short-Term Corporate Bond Index ETF) are both Short-Term Bond funds. MCSB.TO is actively managed, while VSC.TO is passively managed. Over the past 5 years, MCSB.TO returned 5.00%/yr vs 2.67%/yr for VSC.TO. At a 0.32 correlation, their price movements are largely independent.

Performance

MCSB.TO vs. VSC.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 Vanguard Canadian Short-Term Corporate Bond Index ETF (VSC.TO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

The year-to-date returns for both stocks are quite close, with MCSB.TO having a 1.47% return and VSC.TO slightly lower at 1.43%.

MCSB.TO

1D
0.15%
1M
0.06%
6M
1.06%
YTD
1.47%
1Y
3.36%
3Y*
5.41%
5Y*
5.00%
10Y*
—

VSC.TO

1D
0.12%
1M
-0.01%
6M
1.14%
YTD
1.43%
1Y
4.01%
3Y*
5.65%
5Y*
2.67%
10Y*
2.68%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
MCSB.TO
Mackenzie Canadian Short Term Fixed Income ETF		1.47%3.93%6.41%5.77%-4.18%11.34%5.66%3.79%1.50%-0.06%
VSC.TO
Vanguard Canadian Short-Term Corporate Bond Index ETF		1.43%4.32%6.10%6.75%-4.23%-0.97%6.27%4.72%1.19%0.21%

Correlation

The correlation between MCSB.TO and VSC.TO is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.34

Correlation (3Y)
Calculated over the trailing 3-year period

0.41

Correlation (5Y)
Calculated over the trailing 5-year period

0.39

Correlation (All Time)
Calculated using the full available price history since Nov 22, 2017

0.32

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Mackenzie Canadian Short Term Fixed Income ETF

Vanguard Canadian Short-Term Corporate Bond Index ETF

Often compared with VSC.TO:
VSC.TO vs. VSB.TOVSC.TO vs. ZCS.TOVSC.TO vs. TCSB.TOVSC.TO vs. TPRF.TOVSC.TO vs. ZSDB.TOVSC.TO vs. TSTX-U.TOVSC.TO vs. ITA

Return for Risk

MCSB.TO vs. VSC.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: 5353
Overall Rank
MCSB.TO Sharpe Ratio Rank: 5353
Sharpe Ratio Rank
MCSB.TO Sortino Ratio Rank: 5252
Sortino Ratio Rank
MCSB.TO Omega Ratio Rank: 5858
Omega Ratio Rank
MCSB.TO Calmar Ratio Rank: 5656
Calmar Ratio Rank
MCSB.TO Martin Ratio Rank: 4848
Martin Ratio Rank
VSC.TO
VSC.TO Risk / Return Rank: 7676
Overall Rank
VSC.TO Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
VSC.TO Sortino Ratio Rank: 7878
Sortino Ratio Rank
VSC.TO Omega Ratio Rank: 8585
Omega Ratio Rank
VSC.TO Calmar Ratio Rank: 6565
Calmar Ratio Rank
VSC.TO Martin Ratio Rank: 7272
Martin Ratio Rank
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. VSC.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 Vanguard Canadian Short-Term Corporate Bond Index ETF (VSC.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.TOVSC.TODifference
Sharpe ratioReturn per unit of total volatility
1.49
1.99

-0.49

Sortino ratioReturn per unit of downside risk
2.11
2.80

-0.68

Omega ratioGain probability vs. loss probability

1.29

1.40

-0.11

Calmar ratioReturn relative to maximum drawdown

2.27

2.64

-0.37

Martin ratioReturn relative to average drawdown

6.58

10.59

-4.01

MCSB.TO vs. VSC.TO - Sharpe Ratio Comparison

The current MCSB.TO Sharpe Ratio is 1.49, which is comparable to the VSC.TO Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of MCSB.TO and VSC.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

MCSB.TO vs. VSC.TO - Drawdown Comparison

The maximum MCSB.TO drawdown since its inception was -8.35%, smaller than the maximum VSC.TO drawdown of -15.87%. Use the drawdown chart below to compare losses from any high point for MCSB.TO and VSC.TO.

Loading charts...

Drawdown Indicators

MCSB.TOVSC.TODifference

Max Drawdown

Largest peak-to-trough decline

-8.35%

-15.87%

+7.52%

Max Drawdown (1Y)

Largest decline over 1 year

-1.49%

-1.53%

+0.04%

Max Drawdown (3Y)

Largest decline over 3 years

-1.49%

-1.53%

+0.04%

Max Drawdown (5Y)

Largest decline over 5 years

-6.24%

-7.68%

+1.44%

Max Drawdown (10Y)

Largest decline over 10 years

—

-15.87%

—

Current Drawdown

Current decline from peak

-0.34%

-0.21%

-0.13%

Average Drawdown

Average peak-to-trough decline

-1.05%

-0.97%

-0.08%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.51%

0.38%

+0.13%

Volatility

MCSB.TO vs. VSC.TO - Volatility Comparison

Mackenzie Canadian Short Term Fixed Income ETF (MCSB.TO) and Vanguard Canadian Short-Term Corporate Bond Index ETF (VSC.TO) have volatilities of 0.71% and 0.70%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

MCSB.TOVSC.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

0.71%

0.70%

+0.01%

Volatility (6M)

Calculated over the trailing 6-month period

1.62%

1.65%

-0.03%

Volatility (1Y)

Calculated over the trailing 1-year period

2.26%

2.04%

+0.22%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.42%

2.76%

+3.66%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

5.83%

5.16%

+0.67%

Dividends

MCSB.TO vs. VSC.TO - Dividend Comparison

MCSB.TO's dividend yield for the trailing twelve months is around 3.12%, less than VSC.TO's 3.71% yield.

PositionTTM20252024202320222021202020192018201720162015
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%0.00%0.00%
VSC.TO
Vanguard Canadian Short-Term Corporate Bond Index ETF		3.71%3.32%2.99%3.14%2.85%2.59%2.64%2.71%2.77%2.75%2.89%3.05%

Frequently Asked Questions

MCSB.TO and VSC.TO have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

They also come from different issuers: Mackenzie and Vanguard.

Portfolio Optimizer

Find the right allocation for MCSB.TO and VSC.TO

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer