MGRW.TO vs. TCON.TO
MGRW.TO (Mackenzie Growth Allocation ETF) and TCON.TO (TD Conservative ETF Portfolio) are both Diversified Portfolio funds. Both are actively managed. Over the past 5 years, MGRW.TO returned 12.14%/yr vs 5.86%/yr for TCON.TO. At a 0.44 correlation, their price movements are largely independent.
Performance
MGRW.TO vs. TCON.TO - Performance Comparison
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Returns By Period
In the year-to-date period, MGRW.TO achieves a 9.90% return, which is significantly higher than TCON.TO's 5.47% return.
MGRW.TO
- 1D
- 0.05%
- 1M
- 4.67%
- YTD
- 9.90%
- 6M
- 10.22%
- 1Y
- 25.89%
- 3Y*
- 19.61%
- 5Y*
- 12.14%
- 10Y*
- —
TCON.TO
- 1D
- -0.12%
- 1M
- 3.36%
- YTD
- 5.47%
- 6M
- 5.16%
- 1Y
- 13.36%
- 3Y*
- 10.64%
- 5Y*
- 5.86%
- 10Y*
- —
MGRW.TO vs. TCON.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
MGRW.TO Mackenzie Growth Allocation ETF | 9.90% | 18.19% | 21.41% | 15.35% | -9.30% | 13.37% | 7.50% |
TCON.TO TD Conservative ETF Portfolio | 5.47% | 10.47% | 9.68% | 11.95% | -12.34% | 5.71% | 3.65% |
Correlation
The correlation between MGRW.TO and TCON.TO is 0.59, 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 | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2020 | 0.44 |
The correlation between MGRW.TO and TCON.TO shifts across timeframes, from 0.44 (all time) to 0.59 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
MGRW.TO vs. TCON.TO — Risk / Return Rank
MGRW.TO
TCON.TO
MGRW.TO vs. TCON.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Mackenzie Growth Allocation ETF (MGRW.TO) and TD Conservative ETF Portfolio (TCON.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.
| MGRW.TO | TCON.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.51 | ||
| Sortino ratioReturn per unit of downside risk | +0.91 | ||
| Omega ratioGain probability vs. loss probability | 1.56 | 1.41 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 3.87 | 2.65 | +1.22 |
| Martin ratioReturn relative to average drawdown | 15.91 | 11.37 | +4.54 |
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 | TCON.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.64 | 2.13 | +0.51 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.14 | 0.76 | +0.39 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.25 | 0.73 | +0.52 |
Drawdowns
MGRW.TO vs. TCON.TO - Drawdown Comparison
The maximum MGRW.TO drawdown since its inception was -17.20%, roughly equal to the maximum TCON.TO drawdown of -16.43%. Use the drawdown chart below to compare losses from any high point for MGRW.TO and TCON.TO.
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Drawdown Indicators
| MGRW.TO | TCON.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.20% | -16.43% | -0.77% |
Max Drawdown (1Y)Largest decline over 1 year | -6.72% | -5.06% | -1.66% |
Max Drawdown (3Y)Largest decline over 3 years | -12.17% | -6.18% | -5.99% |
Max Drawdown (5Y)Largest decline over 5 years | -17.20% | -16.43% | -0.77% |
Current DrawdownCurrent decline from peak | 0.00% | -0.12% | +0.12% |
Average DrawdownAverage peak-to-trough decline | -3.37% | -3.74% | +0.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.63% | 1.18% | +0.45% |
Volatility
MGRW.TO vs. TCON.TO - Volatility Comparison
Mackenzie Growth Allocation ETF (MGRW.TO) has a higher volatility of 3.39% compared to TD Conservative ETF Portfolio (TCON.TO) at 1.98%. This indicates that MGRW.TO's price experiences larger fluctuations and is considered to be riskier than TCON.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 | TCON.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.39% | 1.98% | +1.41% |
Volatility (6M)Calculated over the trailing 6-month period | 8.09% | 5.27% | +2.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.87% | 6.30% | +3.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.68% | 7.78% | +2.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.49% | 7.56% | +2.93% |
Dividends
MGRW.TO vs. TCON.TO - Dividend Comparison
MGRW.TO's dividend yield for the trailing twelve months is around 1.73%, less than TCON.TO's 2.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
MGRW.TO Mackenzie Growth Allocation ETF | 1.73% | 1.84% | 1.93% | 2.28% | 2.44% | 1.77% | 0.79% |
TCON.TO TD Conservative ETF Portfolio | 2.62% | 2.88% | 3.48% | 3.27% | 2.69% | 1.87% | 1.03% |
Frequently Asked Questions
MGRW.TO and TCON.TO have a correlation of 0.59, 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 TD.
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