MGRW.TO vs. FEQT.NEO
MGRW.TO (Mackenzie Growth Allocation ETF) and FEQT.NEO (Fidelity All-in-One Equity ETF Fund) are both Diversified Portfolio funds. Both are actively managed. Over the past year, MGRW.TO returned 25.89% vs 24.74% for FEQT.NEO. A 0.55 correlation means they provide meaningful diversification when combined.
Performance
MGRW.TO vs. FEQT.NEO - 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 9.90% return and FEQT.NEO slightly higher at 10.30%.
MGRW.TO
- 1D
- 0.05%
- 1M
- 4.67%
- YTD
- 9.90%
- 6M
- 10.22%
- 1Y
- 25.89%
- 3Y*
- 19.61%
- 5Y*
- 12.14%
- 10Y*
- —
FEQT.NEO
- 1D
- -0.38%
- 1M
- 4.01%
- YTD
- 10.30%
- 6M
- 10.63%
- 1Y
- 24.74%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MGRW.TO vs. FEQT.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
MGRW.TO Mackenzie Growth Allocation ETF | 9.90% | 18.19% | 12.01% |
FEQT.NEO Fidelity All-in-One Equity ETF Fund | 10.30% | 19.42% | 14.08% |
Correlation
The correlation between MGRW.TO and FEQT.NEO is 0.60, 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 | 0.60 |
Correlation (All Time) Calculated using the full available price history since May 14, 2024 | 0.55 |
The correlation between MGRW.TO and FEQT.NEO has been stable across timeframes, ranging from 0.55 to 0.60 - a consistent structural relationship.
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Return for Risk
MGRW.TO vs. FEQT.NEO — Risk / Return Rank
MGRW.TO
FEQT.NEO
MGRW.TO vs. FEQT.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Mackenzie Growth Allocation ETF (MGRW.TO) and Fidelity All-in-One Equity ETF Fund (FEQT.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.
| MGRW.TO | FEQT.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.38 | ||
| Sortino ratioReturn per unit of downside risk | +0.79 | ||
| Omega ratioGain probability vs. loss probability | 1.56 | 1.42 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 3.87 | 2.99 | +0.88 |
| Martin ratioReturn relative to average drawdown | 15.91 | 12.96 | +2.96 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MGRW.TO | FEQT.NEO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.64 | 2.26 | +0.38 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.14 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.25 | 1.77 | -0.51 |
Drawdowns
MGRW.TO vs. FEQT.NEO - Drawdown Comparison
The maximum MGRW.TO drawdown since its inception was -17.20%, which is greater than FEQT.NEO's maximum drawdown of -13.24%. Use the drawdown chart below to compare losses from any high point for MGRW.TO and FEQT.NEO.
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Drawdown Indicators
| MGRW.TO | FEQT.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.20% | -13.24% | -3.96% |
Max Drawdown (1Y)Largest decline over 1 year | -6.72% | -8.31% | +1.59% |
Max Drawdown (3Y)Largest decline over 3 years | -12.17% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -17.20% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.02% | +1.02% |
Average DrawdownAverage peak-to-trough decline | -3.37% | -1.45% | -1.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.63% | 1.91% | -0.28% |
Volatility
MGRW.TO vs. FEQT.NEO - Volatility Comparison
The current volatility for Mackenzie Growth Allocation ETF (MGRW.TO) is 3.39%, while Fidelity All-in-One Equity ETF Fund (FEQT.NEO) has a volatility of 3.89%. This indicates that MGRW.TO experiences smaller price fluctuations and is considered to be less risky than FEQT.NEO 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 | FEQT.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.39% | 3.89% | -0.50% |
Volatility (6M)Calculated over the trailing 6-month period | 8.09% | 8.88% | -0.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.87% | 11.01% | -1.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.68% | 12.45% | -1.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.49% | 12.45% | -1.96% |
Dividends
MGRW.TO vs. FEQT.NEO - Dividend Comparison
MGRW.TO's dividend yield for the trailing twelve months is around 1.73%, more than FEQT.NEO's 0.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
FEQT.NEO Fidelity All-in-One Equity ETF Fund | 0.82% | 0.91% | 0.91% | 0.00% | 0.00% | 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 FEQT.NEO have a correlation of 0.60, 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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