MEQT.TO vs. QEBL.TO
MEQT.TO (Mackenzie All-Equity Allocation ETF) and QEBL.TO (Mackenzie Emerging Markets Local Currency Bond Index ETF) are both exchange-traded funds - MEQT.TO is a Global Equities fund actively managed by Mackenzie, while QEBL.TO is a Emerging Markets Bonds fund tracking the Solactive EM Local Currency Government Bond Select NTR Index. MEQT.TO is actively managed, while QEBL.TO is passively managed. Over the past year, MEQT.TO returned 25.74% vs 6.83% for QEBL.TO. Their 0.19 correlation means their historical movements had little consistent relationship. MEQT.TO charges 0.17%/yr vs 0.52%/yr for QEBL.TO.
Performance
MEQT.TO vs. QEBL.TO - Performance Comparison
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Returns By Period
In the year-to-date period, MEQT.TO achieves a 12.84% return, which is significantly higher than QEBL.TO's 3.25% return.
MEQT.TO
- 1D
- -0.35%
- 1M
- -1.97%
- 6M
- 10.00%
- YTD
- 12.84%
- 1Y
- 25.74%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 23.44%
QEBL.TO
- 1D
- 1.14%
- 1M
- 0.25%
- 6M
- 1.79%
- YTD
- 3.25%
- 1Y
- 6.83%
- 3Y*
- 10.19%
- 5Y*
- 5.85%
- 10Y*
- —
- ALL TIME*
- 3.81%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$180.94K | CA$187.75K | CA$184.59K | |
| CA$56.99K | CA$39.85K | CA$42.63K |
MEQT.TO vs. QEBL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
MEQT.TO Mackenzie All-Equity Allocation ETF | 12.84% | 21.31% | 25.87% | 2.36% |
QEBL.TO Mackenzie Emerging Markets Local Currency Bond Index ETF | 3.25% | 12.49% | 9.72% | -0.89% |
Correlation
The correlation between MEQT.TO and QEBL.TO is 0.33, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.33 |
Correlation (All Time) Calculated using the full available price history since Nov 20, 2023 | 0.19 |
The correlation between MEQT.TO and QEBL.TO shifts across timeframes, from 0.19 (all time) to 0.33 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
MEQT.TO vs. QEBL.TO — Risk / Return Rank
MEQT.TO
QEBL.TO
MEQT.TO vs. QEBL.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Mackenzie All-Equity Allocation ETF (MEQT.TO) and Mackenzie Emerging Markets Local Currency Bond Index ETF (QEBL.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.
| MEQT.TO | QEBL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.28 | ||
| Sortino ratioReturn per unit of downside risk | +1.71 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.15 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 3.34 | 1.17 | +2.18 |
| Martin ratioReturn relative to average drawdown | 13.47 | 3.49 | +9.99 |
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Drawdowns
MEQT.TO vs. QEBL.TO - Drawdown Comparison
The maximum MEQT.TO drawdown since its inception was -15.14%, smaller than the maximum QEBL.TO drawdown of -22.20%. Use the drawdown chart below to compare losses from any high point for MEQT.TO and QEBL.TO.
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Drawdown Indicators
| MEQT.TO | QEBL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.14% | -22.20% | +7.06% |
Max Drawdown (1Y)Largest decline over 1 year | -7.68% | -6.24% | -1.44% |
Max Drawdown (3Y)Largest decline over 3 years | — | -7.01% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -18.17% | — |
Current DrawdownCurrent decline from peak | -2.25% | -1.13% | -1.12% |
Average DrawdownAverage peak-to-trough decline | -1.30% | -5.72% | +4.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.90% | 2.08% | -0.18% |
Volatility
MEQT.TO vs. QEBL.TO - Volatility Comparison
Mackenzie All-Equity Allocation ETF (MEQT.TO) and Mackenzie Emerging Markets Local Currency Bond Index ETF (QEBL.TO) have volatilities of 3.77% and 3.70%, 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.
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Volatility by Period
| MEQT.TO | QEBL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.77% | 3.70% | +0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 10.21% | 7.29% | +2.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.14% | 8.75% | +3.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.05% | 10.21% | +1.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.05% | 10.65% | +1.40% |
MEQT.TO vs. QEBL.TO - Expense Ratio Comparison
MEQT.TO has a 0.17% expense ratio, which is lower than QEBL.TO's 0.52% expense ratio.
Dividends
MEQT.TO vs. QEBL.TO - Dividend Comparison
MEQT.TO's dividend yield for the trailing twelve months is around 1.47%, less than QEBL.TO's 4.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
MEQT.TO Mackenzie All-Equity Allocation ETF | 1.47% | 1.60% | 1.73% | 0.81% | 0.00% | 0.00% | 0.00% | 0.00% |
QEBL.TO Mackenzie Emerging Markets Local Currency Bond Index ETF | 4.82% | 5.45% | 4.83% | 22.34% | 4.45% | 4.64% | 4.65% | 0.69% |
Frequently Asked Questions
MEQT.TO and QEBL.TO have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, MEQT.TO is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MEQT.TO is cheaper with a 0.17% expense ratio, compared with 0.52% for QEBL.TO.
MEQT.TO is categorized as Global Equities, while QEBL.TO is Emerging Markets Bonds. Their fees differ too: 0.17% for MEQT.TO and 0.52% for QEBL.TO.
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