MGRW.TO vs. QBB.TO
MGRW.TO (Mackenzie Growth Allocation ETF) and QBB.TO (Mackenzie Canadian Aggregate Bond Index ETF) are both exchange-traded funds - MGRW.TO is a Diversified Portfolio fund actively managed by Mackenzie, while QBB.TO is a Total Bond Market fund actively managed by Mackenzie. Both are actively managed. Over the past 5 years, MGRW.TO returned 11.23%/yr vs 0.42%/yr for QBB.TO. At a 0.16 correlation, their price movements are largely independent.
Performance
MGRW.TO vs. QBB.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, MGRW.TO achieves a 9.95% return, which is significantly higher than QBB.TO's 1.03% return.
MGRW.TO
- 1D
- -0.63%
- 1M
- -0.50%
- 6M
- 6.91%
- YTD
- 9.95%
- 1Y
- 21.44%
- 3Y*
- 18.19%
- 5Y*
- 11.23%
- 10Y*
- —
QBB.TO
- 1D
- 0.08%
- 1M
- -0.59%
- 6M
- 0.56%
- YTD
- 1.03%
- 1Y
- 4.11%
- 3Y*
- 4.21%
- 5Y*
- 0.42%
- 10Y*
- —
MGRW.TO vs. QBB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
MGRW.TO Mackenzie Growth Allocation ETF | 9.95% | 18.19% | 21.41% | 15.35% | -9.30% | 13.37% | 7.50% |
QBB.TO Mackenzie Canadian Aggregate Bond Index ETF | 1.03% | 2.70% | 3.90% | 7.16% | -11.56% | -2.12% | -0.03% |
Correlation
The correlation between MGRW.TO and QBB.TO is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Sep 29, 2020 | 0.16 |
The correlation between MGRW.TO and QBB.TO shifts across timeframes, from 0.16 (all time) to 0.27 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
MGRW.TO vs. QBB.TO — Risk / Return Rank
MGRW.TO
QBB.TO
MGRW.TO vs. QBB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Mackenzie Growth Allocation ETF (MGRW.TO) and Mackenzie Canadian Aggregate Bond Index ETF (QBB.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 | QBB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.11 | ||
| Sortino ratioReturn per unit of downside risk | +1.74 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.18 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 3.21 | 1.47 | +1.74 |
| Martin ratioReturn relative to average drawdown | 12.87 | 3.73 | +9.14 |
Loading charts...
Drawdowns
MGRW.TO vs. QBB.TO - Drawdown Comparison
The maximum MGRW.TO drawdown since its inception was -17.20%, roughly equal to the maximum QBB.TO drawdown of -16.70%. Use the drawdown chart below to compare losses from any high point for MGRW.TO and QBB.TO.
Loading charts...
Drawdown Indicators
| MGRW.TO | QBB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.20% | -16.70% | -0.50% |
Max Drawdown (1Y)Largest decline over 1 year | -6.72% | -2.81% | -3.91% |
Max Drawdown (3Y)Largest decline over 3 years | -12.17% | -4.21% | -7.96% |
Max Drawdown (5Y)Largest decline over 5 years | -17.20% | -15.32% | -1.88% |
Current DrawdownCurrent decline from peak | -1.81% | -1.12% | -0.69% |
Average DrawdownAverage peak-to-trough decline | -3.32% | -4.62% | +1.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.67% | 1.11% | +0.56% |
Volatility
MGRW.TO vs. QBB.TO - Volatility Comparison
Mackenzie Growth Allocation ETF (MGRW.TO) has a higher volatility of 2.25% compared to Mackenzie Canadian Aggregate Bond Index ETF (QBB.TO) at 1.06%. This indicates that MGRW.TO's price experiences larger fluctuations and is considered to be riskier than QBB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| MGRW.TO | QBB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.25% | 1.06% | +1.19% |
Volatility (6M)Calculated over the trailing 6-month period | 8.46% | 3.23% | +5.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.26% | 4.14% | +6.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.76% | 6.14% | +4.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.48% | 6.25% | +4.23% |
Dividends
MGRW.TO vs. QBB.TO - Dividend Comparison
MGRW.TO's dividend yield for the trailing twelve months is around 1.73%, less than QBB.TO's 3.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
MGRW.TO Mackenzie Growth Allocation ETF | 1.73% | 1.84% | 1.93% | 2.28% | 2.44% | 1.77% | 0.79% | 0.00% | 0.00% |
QBB.TO Mackenzie Canadian Aggregate Bond Index ETF | 3.16% | 3.22% | 3.00% | 2.72% | 2.42% | 2.64% | 2.26% | 2.72% | 2.62% |
Frequently Asked Questions
MGRW.TO and QBB.TO have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MGRW.TO is categorized as Diversified Portfolio, while QBB.TO is Total Bond Market.
Find the right allocation for MGRW.TO and QBB.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer