MKB.TO vs. VBU.NEO
MKB.TO (Mackenzie Canadian Strategic Fixed Income ETF) and VBU.NEO (Vanguard U.S. Aggregate Bond Index ETF) are both Total Bond Market funds. MKB.TO is actively managed, while VBU.NEO is passively managed. Over the past 10 years, MKB.TO returned 1.66%/yr vs 0.51%/yr for VBU.NEO. A 0.54 correlation means they provide meaningful diversification when combined.
Performance
MKB.TO vs. VBU.NEO - 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 VBU.NEO's -0.70% return. Over the past 10 years, MKB.TO has outperformed VBU.NEO with an annualized return of 1.66%, while VBU.NEO has yielded a comparatively lower 0.51% annualized 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%
VBU.NEO
- 1D
- 0.02%
- 1M
- -0.46%
- 6M
- -1.12%
- YTD
- -0.70%
- 1Y
- 2.37%
- 3Y*
- 2.31%
- 5Y*
- -1.34%
- 10Y*
- 0.51%
MKB.TO vs. VBU.NEO - 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% | 2.87% |
VBU.NEO Vanguard U.S. Aggregate Bond Index ETF | -0.70% | 4.92% | 0.11% | 4.79% | -13.68% | -2.06% | 7.26% | 7.77% | -1.09% | 3.47% |
Correlation
The correlation between MKB.TO and VBU.NEO is 0.58, 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 | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Apr 19, 2016 | 0.54 |
The correlation between MKB.TO and VBU.NEO shifts across timeframes, from 0.54 (all time) to 0.70 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
MKB.TO vs. VBU.NEO — Risk / Return Rank
MKB.TO
VBU.NEO
MKB.TO vs. VBU.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Mackenzie Canadian Strategic Fixed Income ETF (MKB.TO) and Vanguard U.S. Aggregate Bond Index ETF (VBU.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.
| MKB.TO | VBU.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.60 | ||
| Sortino ratioReturn per unit of downside risk | +0.83 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.11 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.59 | 0.77 | +0.82 |
| Martin ratioReturn relative to average drawdown | 4.11 | 2.00 | +2.11 |
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Drawdowns
MKB.TO vs. VBU.NEO - Drawdown Comparison
The maximum MKB.TO drawdown since its inception was -19.78%, roughly equal to the maximum VBU.NEO drawdown of -19.34%. Use the drawdown chart below to compare losses from any high point for MKB.TO and VBU.NEO.
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Drawdown Indicators
| MKB.TO | VBU.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.78% | -19.34% | -0.44% |
Max Drawdown (1Y)Largest decline over 1 year | -2.99% | -3.08% | +0.09% |
Max Drawdown (3Y)Largest decline over 3 years | -4.67% | -5.94% | +1.27% |
Max Drawdown (5Y)Largest decline over 5 years | -16.05% | -18.44% | +2.39% |
Max Drawdown (10Y)Largest decline over 10 years | -19.78% | -19.34% | -0.44% |
Current DrawdownCurrent decline from peak | -1.68% | -8.18% | +6.50% |
Average DrawdownAverage peak-to-trough decline | -5.55% | -5.32% | -0.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.15% | 1.19% | -0.04% |
Volatility
MKB.TO vs. VBU.NEO - Volatility Comparison
Mackenzie Canadian Strategic Fixed Income ETF (MKB.TO) and Vanguard U.S. Aggregate Bond Index ETF (VBU.NEO) have volatilities of 1.28% and 1.24%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MKB.TO | VBU.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.28% | 1.24% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 3.16% | 3.71% | -0.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.23% | 4.45% | -0.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.39% | 6.30% | +0.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.96% | 5.95% | +6.01% |
Dividends
MKB.TO vs. VBU.NEO - Dividend Comparison
MKB.TO's dividend yield for the trailing twelve months is around 3.50%, less than VBU.NEO's 3.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
VBU.NEO Vanguard U.S. Aggregate Bond Index ETF | 3.67% | 3.50% | 3.34% | 2.93% | 2.32% | 1.87% | 2.15% | 2.36% | 2.24% | 2.20% | 2.18% | 2.23% |
Frequently Asked Questions
MKB.TO and VBU.NEO have a correlation of 0.58, 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 Vanguard.
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