MIVG.TO vs. WSHR.NEO
MIVG.TO (Mackenzie Ivy Global Equity ETF) and WSHR.NEO (Wealthsimple Shariah World Equity Index ETF) are both Global Equities funds from Mackenzie. MIVG.TO is actively managed, while WSHR.NEO is passively managed. Over the past 5 years, MIVG.TO returned 8.69%/yr vs 6.09%/yr for WSHR.NEO. At a 0.30 correlation, their price movements are largely independent.
Performance
MIVG.TO vs. WSHR.NEO - Performance Comparison
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Returns By Period
In the year-to-date period, MIVG.TO achieves a 4.03% return, which is significantly lower than WSHR.NEO's 8.55% return.
MIVG.TO
- 1D
- 0.52%
- 1M
- 2.75%
- 6M
- 1.92%
- YTD
- 4.03%
- 1Y
- 9.96%
- 3Y*
- 13.54%
- 5Y*
- 8.69%
- 10Y*
- —
WSHR.NEO
- 1D
- -0.72%
- 1M
- 1.62%
- 6M
- 5.13%
- YTD
- 8.55%
- 1Y
- 11.24%
- 3Y*
- 9.87%
- 5Y*
- 6.09%
- 10Y*
- —
MIVG.TO vs. WSHR.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
MIVG.TO Mackenzie Ivy Global Equity ETF | 4.03% | 9.98% | 23.80% | 11.57% | -8.98% | 11.85% |
WSHR.NEO Wealthsimple Shariah World Equity Index ETF | 8.55% | 5.34% | 12.31% | 11.88% | -11.31% | 15.91% |
Correlation
The correlation between MIVG.TO and WSHR.NEO is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since May 12, 2021 | 0.30 |
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Return for Risk
MIVG.TO vs. WSHR.NEO — Risk / Return Rank
MIVG.TO
WSHR.NEO
MIVG.TO vs. WSHR.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Mackenzie Ivy Global Equity ETF (MIVG.TO) and Wealthsimple Shariah World Equity Index ETF (WSHR.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.
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.
| MIVG.TO | WSHR.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.33 | ||
| Sortino ratioReturn per unit of downside risk | -0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.20 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.81 | 1.27 | -0.46 |
| Martin ratioReturn relative to average drawdown | 2.31 | 4.23 | -1.91 |
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Drawdowns
MIVG.TO vs. WSHR.NEO - Drawdown Comparison
The maximum MIVG.TO drawdown since its inception was -22.69%, roughly equal to the maximum WSHR.NEO drawdown of -21.74%. Use the drawdown chart below to compare losses from any high point for MIVG.TO and WSHR.NEO.
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Drawdown Indicators
| MIVG.TO | WSHR.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.69% | -21.74% | -0.95% |
Max Drawdown (1Y)Largest decline over 1 year | -10.67% | -8.96% | -1.71% |
Max Drawdown (3Y)Largest decline over 3 years | -12.16% | -11.15% | -1.01% |
Max Drawdown (5Y)Largest decline over 5 years | -18.88% | -21.74% | +2.86% |
Current DrawdownCurrent decline from peak | -1.09% | -1.43% | +0.34% |
Average DrawdownAverage peak-to-trough decline | -3.56% | -5.08% | +1.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.71% | 2.67% | +1.04% |
Volatility
MIVG.TO vs. WSHR.NEO - Volatility Comparison
Mackenzie Ivy Global Equity ETF (MIVG.TO) has a higher volatility of 4.64% compared to Wealthsimple Shariah World Equity Index ETF (WSHR.NEO) at 2.40%. This indicates that MIVG.TO's price experiences larger fluctuations and is considered to be riskier than WSHR.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MIVG.TO | WSHR.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.64% | 2.40% | +2.24% |
Volatility (6M)Calculated over the trailing 6-month period | 9.50% | 7.73% | +1.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.82% | 10.74% | +1.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.39% | 11.14% | +1.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.42% | 11.04% | +2.38% |
Dividends
MIVG.TO vs. WSHR.NEO - Dividend Comparison
MIVG.TO's dividend yield for the trailing twelve months is around 0.63%, less than WSHR.NEO's 1.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
MIVG.TO Mackenzie Ivy Global Equity ETF | 0.63% | 0.66% | 0.54% | 1.17% | 1.11% | 0.59% | 0.86% | 1.18% | 0.91% | 0.04% |
WSHR.NEO Wealthsimple Shariah World Equity Index ETF | 1.39% | 1.34% | 1.31% | 1.34% | 1.45% | 0.44% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MIVG.TO and WSHR.NEO have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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