MGRW.TO vs. MEQT.TO
MGRW.TO (Mackenzie Growth Allocation ETF) and MEQT.TO (Mackenzie All-Equity Allocation ETF) are both exchange-traded funds - MGRW.TO is a Diversified Portfolio fund actively managed by Mackenzie, while MEQT.TO is a Global Equities fund actively managed by Mackenzie. Both are actively managed. Over the past year, MGRW.TO returned 22.91% vs 25.74% for MEQT.TO. Their 0.49 correlation means their historical movements had little consistent relationship. MGRW.TO charges 0.18%/yr vs 0.17%/yr for MEQT.TO.
Performance
MGRW.TO vs. MEQT.TO - Performance Comparison
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Returns By Period
In the year-to-date period, MGRW.TO achieves a 10.74% return, which is significantly lower than MEQT.TO's 12.84% return.
MGRW.TO
- 1D
- 0.49%
- 1M
- -1.05%
- 6M
- 8.72%
- YTD
- 10.74%
- 1Y
- 22.91%
- 3Y*
- 18.18%
- 5Y*
- 11.35%
- 10Y*
- —
- ALL TIME*
- 12.87%
MEQT.TO
- 1D
- -0.35%
- 1M
- -1.97%
- 6M
- 10.00%
- YTD
- 12.84%
- 1Y
- 25.74%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 23.44%
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$72.01K | CA$77.36K | CA$75.63K |
MGRW.TO vs. MEQT.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
MGRW.TO Mackenzie Growth Allocation ETF | 10.74% | 18.19% | 21.41% | 3.44% |
MEQT.TO Mackenzie All-Equity Allocation ETF | 12.84% | 21.31% | 25.87% | 2.36% |
Correlation
The correlation between MGRW.TO and MEQT.TO is 0.58, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.58 |
Correlation (All Time) Calculated using the full available price history since Nov 20, 2023 | 0.49 |
The correlation between MGRW.TO and MEQT.TO has been stable across timeframes, ranging from 0.49 to 0.58 - a consistent structural relationship.
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Return for Risk
MGRW.TO vs. MEQT.TO — Risk / Return Rank
MGRW.TO
MEQT.TO
MGRW.TO vs. MEQT.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Mackenzie Growth Allocation ETF (MGRW.TO) and Mackenzie All-Equity Allocation ETF (MEQT.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 | MEQT.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.39 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.23 | 3.34 | -0.11 |
| Martin ratioReturn relative to average drawdown | 12.74 | 13.47 | -0.73 |
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Drawdowns
MGRW.TO vs. MEQT.TO - Drawdown Comparison
The maximum MGRW.TO drawdown since its inception was -17.20%, which is greater than MEQT.TO's maximum drawdown of -15.14%. Use the drawdown chart below to compare losses from any high point for MGRW.TO and MEQT.TO.
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Drawdown Indicators
| MGRW.TO | MEQT.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.20% | -15.14% | -2.06% |
Max Drawdown (1Y)Largest decline over 1 year | -6.72% | -7.68% | +0.96% |
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 | -1.11% | -2.25% | +1.14% |
Average DrawdownAverage peak-to-trough decline | -3.30% | -1.30% | -2.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.70% | 1.90% | -0.20% |
Volatility
MGRW.TO vs. MEQT.TO - Volatility Comparison
The current volatility for Mackenzie Growth Allocation ETF (MGRW.TO) is 2.99%, while Mackenzie All-Equity Allocation ETF (MEQT.TO) has a volatility of 3.77%. This indicates that MGRW.TO experiences smaller price fluctuations and is considered to be less risky than MEQT.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 | MEQT.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.99% | 3.77% | -0.78% |
Volatility (6M)Calculated over the trailing 6-month period | 8.57% | 10.21% | -1.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.45% | 12.14% | -1.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.78% | 12.05% | -1.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.49% | 12.05% | -1.56% |
MGRW.TO vs. MEQT.TO - Expense Ratio Comparison
MGRW.TO has a 0.18% expense ratio, which is higher than MEQT.TO's 0.17% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
MGRW.TO vs. MEQT.TO - Dividend Comparison
MGRW.TO's dividend yield for the trailing twelve months is around 1.71%, more than MEQT.TO's 1.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
MEQT.TO Mackenzie All-Equity Allocation ETF | 1.47% | 1.60% | 1.73% | 0.81% | 0.00% | 0.00% | 0.00% |
MGRW.TO Mackenzie Growth Allocation ETF | 1.71% | 1.84% | 1.93% | 2.28% | 2.44% | 1.77% | 0.79% |
Frequently Asked Questions
MGRW.TO and MEQT.TO have a correlation of 0.58, 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 0.18% for MGRW.TO.
MGRW.TO is categorized as Diversified Portfolio, while MEQT.TO is Global Equities. Their fees differ too: 0.18% for MGRW.TO and 0.17% for MEQT.TO.
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