MKB.TO vs. XAGH.TO
MKB.TO (Mackenzie Canadian Strategic Fixed Income ETF) and XAGH.TO (iShares U.S. Aggregate Bond Index ETF (CAD-Hedged)) are both Total Bond Market funds. MKB.TO is actively managed, while XAGH.TO is passively managed. A 0.78 correlation means they provide meaningful diversification when combined.
Performance
MKB.TO vs. XAGH.TO - Performance Comparison
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Returns By Period
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%
XAGH.TO
- 1D
- 0.28%
- 1M
- -0.45%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MKB.TO vs. XAGH.TO - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
MKB.TO Mackenzie Canadian Strategic Fixed Income ETF | 0.61% |
XAGH.TO iShares U.S. Aggregate Bond Index ETF (CAD-Hedged) | -0.56% |
Correlation
The correlation between MKB.TO and XAGH.TO is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jan 20, 2026 | 0.78 |
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Return for Risk
MKB.TO vs. XAGH.TO — Risk / Return Rank
MKB.TO
XAGH.TO
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
MKB.TO vs. XAGH.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 iShares U.S. Aggregate Bond Index ETF (CAD-Hedged) (XAGH.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 | XAGH.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.20 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.59 | — | — |
| Martin ratioReturn relative to average drawdown | 4.11 | — | — |
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Drawdowns
MKB.TO vs. XAGH.TO - Drawdown Comparison
The maximum MKB.TO drawdown since its inception was -19.78%, which is greater than XAGH.TO's maximum drawdown of -3.18%. Use the drawdown chart below to compare losses from any high point for MKB.TO and XAGH.TO.
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Drawdown Indicators
| MKB.TO | XAGH.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.78% | -3.18% | -16.60% |
Max Drawdown (1Y)Largest decline over 1 year | -2.99% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -4.67% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -16.05% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -19.78% | — | — |
Current DrawdownCurrent decline from peak | -1.68% | -2.22% | +0.54% |
Average DrawdownAverage peak-to-trough decline | -5.55% | -1.43% | -4.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.15% | — | — |
Volatility
MKB.TO vs. XAGH.TO - Volatility Comparison
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Volatility by Period
| MKB.TO | XAGH.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.28% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 3.16% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 4.23% | 5.21% | -0.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.39% | 5.21% | +1.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.96% | 5.21% | +6.75% |
Dividends
MKB.TO vs. XAGH.TO - Dividend Comparison
MKB.TO's dividend yield for the trailing twelve months is around 3.50%, more than XAGH.TO's 1.91% 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% |
XAGH.TO iShares U.S. Aggregate Bond Index ETF (CAD-Hedged) | 1.91% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MKB.TO and XAGH.TO have a correlation of 0.78, 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 iShares.
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