MGRW.TO vs. BMAX.TO
MGRW.TO (Mackenzie Growth Allocation ETF) and BMAX.TO (Brompton Enhanced Multi-Asset Income ETF) are both Diversified Portfolio funds. Over the past 3 years, MGRW.TO returned 19.65%/yr vs 19.11%/yr for BMAX.TO. At a 0.44 correlation, their price movements are largely independent.
Performance
MGRW.TO vs. BMAX.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with MGRW.TO having a 9.95% return and BMAX.TO slightly higher at 10.31%.
MGRW.TO
- 1D
- -0.36%
- 1M
- 0.41%
- YTD
- 9.95%
- 6M
- 9.95%
- 1Y
- 24.13%
- 3Y*
- 19.65%
- 5Y*
- 11.61%
- 10Y*
- —
BMAX.TO
- 1D
- -0.26%
- 1M
- -0.02%
- YTD
- 10.31%
- 6M
- 9.34%
- 1Y
- 21.67%
- 3Y*
- 19.11%
- 5Y*
- —
- 10Y*
- —
MGRW.TO vs. BMAX.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
MGRW.TO Mackenzie Growth Allocation ETF | 9.95% | 18.19% | 21.41% | 15.35% | 3.98% |
BMAX.TO Brompton Enhanced Multi-Asset Income ETF | 10.31% | 17.88% | 19.43% | 11.56% | 5.83% |
Correlation
The correlation between MGRW.TO and BMAX.TO is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Oct 20, 2022 | 0.44 |
The correlation between MGRW.TO and BMAX.TO shifts across timeframes, from 0.44 (all time) to 0.56 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
MGRW.TO vs. BMAX.TO — Risk / Return Rank
MGRW.TO
BMAX.TO
MGRW.TO vs. BMAX.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Mackenzie Growth Allocation ETF (MGRW.TO) and Brompton Enhanced Multi-Asset Income ETF (BMAX.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.
| MGRW.TO | BMAX.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.42 | ||
| Sortino ratioReturn per unit of downside risk | +0.75 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.35 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 3.61 | 2.33 | +1.28 |
| Martin ratioReturn relative to average drawdown | 14.63 | 10.16 | +4.47 |
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Drawdowns
MGRW.TO vs. BMAX.TO - Drawdown Comparison
The maximum MGRW.TO drawdown since its inception was -17.20%, which is greater than BMAX.TO's maximum drawdown of -15.42%. Use the drawdown chart below to compare losses from any high point for MGRW.TO and BMAX.TO.
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Drawdown Indicators
| MGRW.TO | BMAX.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.20% | -15.42% | -1.78% |
Max Drawdown (1Y)Largest decline over 1 year | -6.72% | -9.35% | +2.63% |
Max Drawdown (3Y)Largest decline over 3 years | -12.17% | -15.42% | +3.25% |
Max Drawdown (5Y)Largest decline over 5 years | -17.20% | — | — |
Current DrawdownCurrent decline from peak | -1.41% | -1.60% | +0.19% |
Average DrawdownAverage peak-to-trough decline | -3.34% | -1.88% | -1.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.65% | 2.14% | -0.49% |
Volatility
MGRW.TO vs. BMAX.TO - Volatility Comparison
The current volatility for Mackenzie Growth Allocation ETF (MGRW.TO) is 3.13%, while Brompton Enhanced Multi-Asset Income ETF (BMAX.TO) has a volatility of 3.99%. This indicates that MGRW.TO experiences smaller price fluctuations and is considered to be less risky than BMAX.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MGRW.TO | BMAX.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.13% | 3.99% | -0.86% |
Volatility (6M)Calculated over the trailing 6-month period | 8.45% | 9.34% | -0.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.20% | 11.12% | -0.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.74% | 13.16% | -2.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.51% | 13.16% | -2.65% |
Dividends
MGRW.TO vs. BMAX.TO - Dividend Comparison
MGRW.TO's dividend yield for the trailing twelve months is around 1.73%, less than BMAX.TO's 9.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
BMAX.TO Brompton Enhanced Multi-Asset Income ETF | 9.50% | 9.70% | 9.65% | 9.55% | 2.41% | 0.00% | 0.00% |
MGRW.TO Mackenzie Growth Allocation ETF | 1.73% | 1.84% | 1.93% | 2.28% | 2.44% | 1.77% | 0.79% |
Frequently Asked Questions
MGRW.TO and BMAX.TO have a correlation of 0.56, 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 Brompton Funds.
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