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MGB.TO vs. HAF.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MGB.TO vs. HAF.TO

Last updated Jul 16, 2026
Documentation

MGB.TO (Mackenzie Core Plus Global Fixed Income ETF) and HAF.TO (Global X Active Global Fixed Income ETF) are both Global Bonds funds. Both are actively managed. Over the past 10 years, MGB.TO returned 1.30%/yr vs 2.85%/yr for HAF.TO. At a 0.12 correlation, their price movements are largely independent.

Performance

MGB.TO vs. HAF.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Mackenzie Core Plus Global Fixed Income ETF (MGB.TO) and Global X Active Global Fixed Income ETF (HAF.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, MGB.TO achieves a -0.02% return, which is significantly lower than HAF.TO's 2.24% return. Over the past 10 years, MGB.TO has underperformed HAF.TO with an annualized return of 1.30%, while HAF.TO has yielded a comparatively higher 2.85% annualized return.

MGB.TO

1D
0.13%
1M
0.38%
6M
-0.27%
YTD
-0.02%
1Y
3.95%
3Y*
3.28%
5Y*
0.03%
10Y*
1.30%

HAF.TO

1D
0.14%
1M
-0.59%
6M
1.50%
YTD
2.24%
1Y
3.45%
3Y*
4.90%
5Y*
2.51%
10Y*
2.85%
*Multi-year figures are annualized to reflect compound growth (CAGR)

MGB.TO vs. HAF.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
MGB.TO
Mackenzie Core Plus Global Fixed Income ETF		-0.02%4.03%2.83%6.86%-11.24%-2.92%8.47%4.94%-0.66%2.52%
HAF.TO
Global X Active Global Fixed Income ETF		2.24%2.56%3.65%10.92%-6.00%1.88%2.75%3.00%0.23%4.03%

Correlation

The correlation between MGB.TO and HAF.TO is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.32

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

0.31

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

0.23

Correlation (10Y)
Calculated over the trailing 10-year period

0.12

Correlation (All Time)
Calculated using the full available price history since Apr 22, 2016

0.12

Over the past year, MGB.TO and HAF.TO have become more correlated (0.32) than their long-term average of 0.12, meaning their price movements have been converging.

Compare stocks, funds, or ETFs

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

Mackenzie Core Plus Global Fixed Income ETF

Global X Active Global Fixed Income ETF

Often compared with HAF.TO:
HAF.TO vs. HXS.TOHAF.TO vs. ZUAG.TOHAF.TO vs. NUBF.TOHAF.TO vs. VBG.NEOHAF.TO vs. FFIX.NEOHAF.TO vs. XSH.TOHAF.TO vs. TGFI.TO

Return for Risk

MGB.TO vs. HAF.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MGB.TO
MGB.TO Risk / Return Rank: 2323
Overall Rank
MGB.TO Sharpe Ratio Rank: 2323
Sharpe Ratio Rank
MGB.TO Sortino Ratio Rank: 2121
Sortino Ratio Rank
MGB.TO Omega Ratio Rank: 2020
Omega Ratio Rank
MGB.TO Calmar Ratio Rank: 2828
Calmar Ratio Rank
MGB.TO Martin Ratio Rank: 2525
Martin Ratio Rank
HAF.TO
HAF.TO Risk / Return Rank: 1919
Overall Rank
HAF.TO Sharpe Ratio Rank: 1919
Sharpe Ratio Rank
HAF.TO Sortino Ratio Rank: 1717
Sortino Ratio Rank
HAF.TO Omega Ratio Rank: 1717
Omega Ratio Rank
HAF.TO Calmar Ratio Rank: 2323
Calmar Ratio Rank
HAF.TO Martin Ratio Rank: 2121
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.

MGB.TO vs. HAF.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Mackenzie Core Plus Global Fixed Income ETF (MGB.TO) and Global X Active Global Fixed Income ETF (HAF.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.

MGB.TOHAF.TODifference
Sharpe ratioReturn per unit of total volatility
0.68
0.51

+0.17

Sortino ratioReturn per unit of downside risk
1.03
0.77

+0.26

Omega ratioGain probability vs. loss probability

1.12

1.09

+0.03

Calmar ratioReturn relative to maximum drawdown

1.17

0.90

+0.27

Martin ratioReturn relative to average drawdown

2.66

2.00

+0.65

MGB.TO vs. HAF.TO - Sharpe Ratio Comparison

The current MGB.TO Sharpe Ratio is 0.68, which is higher than the HAF.TO Sharpe Ratio of 0.51. The chart below compares the historical Sharpe Ratios of MGB.TO and HAF.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.

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Drawdowns

MGB.TO vs. HAF.TO - Drawdown Comparison

The maximum MGB.TO drawdown since its inception was -17.54%, smaller than the maximum HAF.TO drawdown of -30.65%. Use the drawdown chart below to compare losses from any high point for MGB.TO and HAF.TO.

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Drawdown Indicators

MGB.TOHAF.TODifference

Max Drawdown

Largest peak-to-trough decline

-17.54%

-30.65%

+13.11%

Max Drawdown (1Y)

Largest decline over 1 year

-3.39%

-3.87%

+0.48%

Max Drawdown (3Y)

Largest decline over 3 years

-4.66%

-3.94%

-0.72%

Max Drawdown (5Y)

Largest decline over 5 years

-16.67%

-12.03%

-4.64%

Max Drawdown (10Y)

Largest decline over 10 years

-17.54%

-28.04%

+10.50%

Current Drawdown

Current decline from peak

-1.96%

-1.16%

-0.80%

Average Drawdown

Average peak-to-trough decline

-4.12%

-10.01%

+5.89%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.49%

1.73%

-0.24%

Volatility

MGB.TO vs. HAF.TO - Volatility Comparison

Mackenzie Core Plus Global Fixed Income ETF (MGB.TO) has a higher volatility of 1.84% compared to Global X Active Global Fixed Income ETF (HAF.TO) at 1.56%. This indicates that MGB.TO's price experiences larger fluctuations and is considered to be riskier than HAF.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

MGB.TOHAF.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

1.84%

1.56%

+0.28%

Volatility (6M)

Calculated over the trailing 6-month period

4.46%

4.71%

-0.25%

Volatility (1Y)

Calculated over the trailing 1-year period

5.82%

6.77%

-0.95%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

7.36%

7.26%

+0.10%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

7.07%

11.06%

-3.99%

Dividends

MGB.TO vs. HAF.TO - Dividend Comparison

MGB.TO's dividend yield for the trailing twelve months is around 3.67%, less than HAF.TO's 5.03% yield.

PositionTTM20252024202320222021202020192018201720162015
HAF.TO
Global X Active Global Fixed Income ETF		5.03%5.05%5.47%5.34%4.36%2.41%3.08%3.23%2.82%3.11%3.98%3.84%
MGB.TO
Mackenzie Core Plus Global Fixed Income ETF		3.67%4.33%4.74%4.62%6.10%3.08%2.00%2.99%4.07%2.77%2.06%0.00%

Frequently Asked Questions

MGB.TO and HAF.TO have a correlation of 0.32, 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 Global X.

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