MKB.TO vs. CAGG.TO
MKB.TO (Mackenzie Canadian Strategic Fixed Income ETF) and CAGG.TO (CI Canadian Aggregate Bond Index ETF) are both Total Bond Market funds. Over the past 5 years, MKB.TO returned 0.68%/yr vs 0.58%/yr for CAGG.TO. At a 0.35 correlation, their price movements are largely independent.
Performance
MKB.TO vs. CAGG.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, MKB.TO achieves a 1.45% return, which is significantly higher than CAGG.TO's 1.35% return.
MKB.TO
- 1D
- 0.26%
- 1M
- -0.33%
- 6M
- 0.56%
- YTD
- 1.45%
- 1Y
- 4.73%
- 3Y*
- 4.44%
- 5Y*
- 0.68%
- 10Y*
- 1.66%
CAGG.TO
- 1D
- 0.32%
- 1M
- -0.45%
- 6M
- 0.76%
- YTD
- 1.35%
- 1Y
- 4.50%
- 3Y*
- 4.54%
- 5Y*
- 0.58%
- 10Y*
- —
MKB.TO vs. CAGG.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MKB.TO Mackenzie Canadian Strategic Fixed Income ETF | 1.45% | 2.54% | 4.70% | 6.67% | -11.07% | -2.34% | 8.29% | 6.55% | -1.13% | 1.45% |
CAGG.TO CI Canadian Aggregate Bond Index ETF | 1.35% | 2.45% | 4.41% | 7.28% | -11.36% | -3.39% | 7.32% | 9.39% | 0.30% | -0.53% |
Correlation
The correlation between MKB.TO and CAGG.TO is 0.66, 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 | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Jun 27, 2017 | 0.35 |
Over the past year, MKB.TO and CAGG.TO have become more correlated (0.66) than their long-term average of 0.35, meaning their price movements have been converging.
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
MKB.TO vs. CAGG.TO — Risk / Return Rank
MKB.TO
CAGG.TO
MKB.TO vs. CAGG.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Mackenzie Canadian Strategic Fixed Income ETF (MKB.TO) and CI Canadian Aggregate Bond Index ETF (CAGG.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.
| MKB.TO | CAGG.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.07 | ||
| Sortino ratioReturn per unit of downside risk | +0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.21 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.59 | 1.65 | -0.06 |
| Martin ratioReturn relative to average drawdown | 4.11 | 4.11 | 0.00 |
Loading charts...
Drawdowns
MKB.TO vs. CAGG.TO - Drawdown Comparison
The maximum MKB.TO drawdown since its inception was -19.78%, which is greater than CAGG.TO's maximum drawdown of -18.77%. Use the drawdown chart below to compare losses from any high point for MKB.TO and CAGG.TO.
Loading charts...
Drawdown Indicators
| MKB.TO | CAGG.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.78% | -18.77% | -1.01% |
Max Drawdown (1Y)Largest decline over 1 year | -2.99% | -2.73% | -0.26% |
Max Drawdown (3Y)Largest decline over 3 years | -4.67% | -4.47% | -0.20% |
Max Drawdown (5Y)Largest decline over 5 years | -16.05% | -16.68% | +0.63% |
Max Drawdown (10Y)Largest decline over 10 years | -19.78% | — | — |
Current DrawdownCurrent decline from peak | -1.68% | -1.09% | -0.59% |
Average DrawdownAverage peak-to-trough decline | -5.55% | -5.48% | -0.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.15% | 1.10% | +0.05% |
Volatility
MKB.TO vs. CAGG.TO - Volatility Comparison
The current volatility for Mackenzie Canadian Strategic Fixed Income ETF (MKB.TO) is 1.28%, while CI Canadian Aggregate Bond Index ETF (CAGG.TO) has a volatility of 1.41%. This indicates that MKB.TO experiences smaller price fluctuations and is considered to be less risky than CAGG.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| MKB.TO | CAGG.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.28% | 1.41% | -0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 3.16% | 3.28% | -0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.23% | 4.29% | -0.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.39% | 6.19% | +0.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.96% | 7.03% | +4.93% |
Dividends
MKB.TO vs. CAGG.TO - Dividend Comparison
MKB.TO's dividend yield for the trailing twelve months is around 3.50%, less than CAGG.TO's 3.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
CAGG.TO CI Canadian Aggregate Bond Index ETF | 3.56% | 3.36% | 2.82% | 3.25% | 4.11% | 2.42% | 2.77% | 3.00% | 2.74% | 1.51% | 0.00% |
MKB.TO Mackenzie Canadian Strategic Fixed Income ETF | 3.50% | 3.75% | 3.45% | 2.98% | 2.86% | 2.16% | 2.11% | 2.44% | 3.02% | 2.19% | 1.78% |
Frequently Asked Questions
MKB.TO and CAGG.TO have a correlation of 0.66, 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 CI.
Find the right allocation for MKB.TO and CAGG.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