MKB.TO vs. QBB.TO
MKB.TO (Mackenzie Canadian Strategic Fixed Income ETF) and QBB.TO (Mackenzie Canadian Aggregate Bond Index ETF) are both Total Bond Market funds from Mackenzie. Both are actively managed. Over the past 5 years, MKB.TO returned 0.68%/yr vs 0.41%/yr for QBB.TO. A 0.58 correlation means they provide meaningful diversification when combined.
Performance
MKB.TO vs. QBB.TO - Performance Comparison
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Returns By Period
In the year-to-date period, MKB.TO achieves a 1.45% return, which is significantly higher than QBB.TO's 0.99% 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%
QBB.TO
- 1D
- 0.02%
- 1M
- -0.68%
- 6M
- 0.45%
- YTD
- 0.99%
- 1Y
- 4.09%
- 3Y*
- 4.18%
- 5Y*
- 0.41%
- 10Y*
- —
MKB.TO vs. QBB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
MKB.TO Mackenzie Canadian Strategic Fixed Income ETF | 1.45% | 2.54% | 4.70% | 6.67% | -11.07% | -2.34% | 8.29% | 6.55% | 2.06% |
QBB.TO Mackenzie Canadian Aggregate Bond Index ETF | 0.99% | 2.70% | 3.90% | 7.16% | -11.56% | -2.12% | 6.73% | 7.32% | 2.61% |
Correlation
The correlation between MKB.TO and QBB.TO is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2018 | 0.58 |
Over the past year, MKB.TO and QBB.TO have become more correlated (0.81) than their long-term average of 0.58, meaning their price movements have been converging.
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Return for Risk
MKB.TO vs. QBB.TO — Risk / Return Rank
MKB.TO
QBB.TO
MKB.TO vs. QBB.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 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.
| MKB.TO | QBB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.14 | ||
| Sortino ratioReturn per unit of downside risk | +0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.18 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.59 | 1.46 | +0.13 |
| Martin ratioReturn relative to average drawdown | 4.11 | 3.72 | +0.39 |
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Drawdowns
MKB.TO vs. QBB.TO - Drawdown Comparison
The maximum MKB.TO drawdown since its inception was -19.78%, which is greater than QBB.TO's maximum drawdown of -16.70%. Use the drawdown chart below to compare losses from any high point for MKB.TO and QBB.TO.
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Drawdown Indicators
| MKB.TO | QBB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.78% | -16.70% | -3.08% |
Max Drawdown (1Y)Largest decline over 1 year | -2.99% | -2.81% | -0.18% |
Max Drawdown (3Y)Largest decline over 3 years | -4.67% | -4.21% | -0.46% |
Max Drawdown (5Y)Largest decline over 5 years | -16.05% | -15.32% | -0.73% |
Max Drawdown (10Y)Largest decline over 10 years | -19.78% | — | — |
Current DrawdownCurrent decline from peak | -1.68% | -1.16% | -0.52% |
Average DrawdownAverage peak-to-trough decline | -5.55% | -4.62% | -0.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.15% | 1.10% | +0.05% |
Volatility
MKB.TO vs. QBB.TO - Volatility Comparison
Mackenzie Canadian Strategic Fixed Income ETF (MKB.TO) has a higher volatility of 1.28% compared to Mackenzie Canadian Aggregate Bond Index ETF (QBB.TO) at 1.10%. This indicates that MKB.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.
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Volatility by Period
| MKB.TO | QBB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.28% | 1.10% | +0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 3.16% | 3.23% | -0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.23% | 4.18% | +0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.39% | 6.15% | +0.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.96% | 6.26% | +5.70% |
Dividends
MKB.TO vs. QBB.TO - Dividend Comparison
MKB.TO's dividend yield for the trailing twelve months is around 3.50%, more than QBB.TO's 3.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
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% | 0.00% | 0.00% |
Frequently Asked Questions
MKB.TO and QBB.TO have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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