MFT.TO vs. FCSB.NEO
MFT.TO (Mackenzie Floating Rate Income ETF) and FCSB.NEO (Fidelity Canadian Short Term Corporate Bond ETF) are both Corporate Bonds funds. MFT.TO is actively managed, while FCSB.NEO is passively managed. Over the past 5 years, MFT.TO returned 3.71%/yr vs 2.92%/yr for FCSB.NEO. At a 0.05 correlation, their price movements are largely independent.
Performance
MFT.TO vs. FCSB.NEO - Performance Comparison
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Returns By Period
In the year-to-date period, MFT.TO achieves a 2.53% return, which is significantly higher than FCSB.NEO's 1.49% return.
MFT.TO
- 1D
- 0.00%
- 1M
- 0.67%
- 6M
- 2.08%
- YTD
- 2.53%
- 1Y
- 2.43%
- 3Y*
- 5.49%
- 5Y*
- 3.71%
- 10Y*
- 4.41%
FCSB.NEO
- 1D
- -0.04%
- 1M
- -0.04%
- 6M
- 0.94%
- YTD
- 1.49%
- 1Y
- 3.74%
- 3Y*
- 5.98%
- 5Y*
- 2.92%
- 10Y*
- —
MFT.TO vs. FCSB.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
MFT.TO Mackenzie Floating Rate Income ETF | 2.53% | 0.81% | 8.84% | 11.99% | -6.31% | 5.56% | -0.64% | 1.22% |
FCSB.NEO Fidelity Canadian Short Term Corporate Bond ETF | 1.49% | 4.15% | 7.55% | 6.81% | -4.22% | -0.81% | 6.26% | 0.82% |
Correlation
The correlation between MFT.TO and FCSB.NEO is -0.04, 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 (1Y) Calculated over the trailing 1-year period | -0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Sep 20, 2019 | 0.05 |
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Return for Risk
MFT.TO vs. FCSB.NEO — Risk / Return Rank
MFT.TO
FCSB.NEO
MFT.TO vs. FCSB.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Mackenzie Floating Rate Income ETF (MFT.TO) and Fidelity Canadian Short Term Corporate Bond ETF (FCSB.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.
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.
| MFT.TO | FCSB.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.39 | ||
| Sortino ratioReturn per unit of downside risk | -0.59 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.25 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.84 | 2.37 | -0.54 |
| Martin ratioReturn relative to average drawdown | 4.39 | 8.66 | -4.27 |
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Drawdowns
MFT.TO vs. FCSB.NEO - Drawdown Comparison
The maximum MFT.TO drawdown since its inception was -20.87%, which is greater than FCSB.NEO's maximum drawdown of -12.48%. Use the drawdown chart below to compare losses from any high point for MFT.TO and FCSB.NEO.
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Drawdown Indicators
| MFT.TO | FCSB.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.87% | -12.48% | -8.39% |
Max Drawdown (1Y)Largest decline over 1 year | -1.33% | -1.58% | +0.25% |
Max Drawdown (3Y)Largest decline over 3 years | -3.40% | -1.58% | -1.82% |
Max Drawdown (5Y)Largest decline over 5 years | -7.45% | -7.44% | -0.01% |
Max Drawdown (10Y)Largest decline over 10 years | -20.87% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.51% | +0.51% |
Average DrawdownAverage peak-to-trough decline | -1.38% | -1.48% | +0.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.55% | 0.43% | +0.12% |
Volatility
MFT.TO vs. FCSB.NEO - Volatility Comparison
The current volatility for Mackenzie Floating Rate Income ETF (MFT.TO) is 0.79%, while Fidelity Canadian Short Term Corporate Bond ETF (FCSB.NEO) has a volatility of 0.93%. This indicates that MFT.TO experiences smaller price fluctuations and is considered to be less risky than FCSB.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MFT.TO | FCSB.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.79% | 0.93% | -0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 1.80% | 2.15% | -0.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.61% | 2.81% | -0.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.71% | 3.32% | +0.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.10% | 4.93% | +0.17% |
Dividends
MFT.TO vs. FCSB.NEO - Dividend Comparison
MFT.TO's dividend yield for the trailing twelve months is around 8.29%, more than FCSB.NEO's 3.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
FCSB.NEO Fidelity Canadian Short Term Corporate Bond ETF | 3.81% | 3.73% | 3.59% | 3.06% | 2.09% | 1.58% | 2.34% | 0.38% | 0.00% | 0.00% | 0.00% |
MFT.TO Mackenzie Floating Rate Income ETF | 8.29% | 8.57% | 9.44% | 10.40% | 6.26% | 3.89% | 6.18% | 6.97% | 6.14% | 4.84% | 3.94% |
Frequently Asked Questions
MFT.TO and FCSB.NEO have a correlation of -0.04, 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 Fidelity.
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