MUB.TO vs. MFT.TO
MUB.TO (Mackenzie Unconstrained Bond ETF) and MFT.TO (Mackenzie Floating Rate Income ETF) are both exchange-traded funds - MUB.TO is a Nontraditional Bonds fund actively managed by Mackenzie, while MFT.TO is a Corporate Bonds fund actively managed by Mackenzie. Both are actively managed. Over the past 10 years, MUB.TO returned 2.85%/yr vs 4.43%/yr for MFT.TO. At a 0.08 correlation, their price movements are largely independent.
Performance
MUB.TO vs. MFT.TO - Performance Comparison
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Returns By Period
In the year-to-date period, MUB.TO achieves a 0.24% return, which is significantly lower than MFT.TO's 2.72% return. Over the past 10 years, MUB.TO has underperformed MFT.TO with an annualized return of 2.85%, while MFT.TO has yielded a comparatively higher 4.43% annualized return.
MUB.TO
- 1D
- -0.28%
- 1M
- -0.70%
- 6M
- -0.36%
- YTD
- 0.24%
- 1Y
- 3.01%
- 3Y*
- 4.68%
- 5Y*
- 1.68%
- 10Y*
- 2.85%
MFT.TO
- 1D
- 0.19%
- 1M
- 0.67%
- 6M
- 2.46%
- YTD
- 2.72%
- 1Y
- 2.87%
- 3Y*
- 5.42%
- 5Y*
- 3.75%
- 10Y*
- 4.43%
MUB.TO vs. MFT.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MUB.TO Mackenzie Unconstrained Bond ETF | 0.24% | 4.32% | 5.19% | 6.36% | -7.06% | -0.79% | 5.91% | 5.34% | 1.25% | 4.23% |
MFT.TO Mackenzie Floating Rate Income ETF | 2.72% | 0.81% | 8.84% | 11.99% | -6.31% | 5.56% | -0.64% | 6.00% | 2.29% | 5.89% |
Correlation
The correlation between MUB.TO and MFT.TO is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Apr 27, 2016 | 0.08 |
The correlation between MUB.TO and MFT.TO shifts across timeframes, from -0.04 (1 year) to 0.08 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
MUB.TO vs. MFT.TO — Risk / Return Rank
MUB.TO
MFT.TO
MUB.TO vs. MFT.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Mackenzie Unconstrained Bond ETF (MUB.TO) and Mackenzie Floating Rate Income ETF (MFT.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.
| MUB.TO | MFT.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.23 | ||
| Sortino ratioReturn per unit of downside risk | -0.36 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.20 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.52 | 2.17 | -0.66 |
| Martin ratioReturn relative to average drawdown | 3.56 | 5.19 | -1.63 |
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Drawdowns
MUB.TO vs. MFT.TO - Drawdown Comparison
The maximum MUB.TO drawdown since its inception was -13.12%, smaller than the maximum MFT.TO drawdown of -20.87%. Use the drawdown chart below to compare losses from any high point for MUB.TO and MFT.TO.
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Drawdown Indicators
| MUB.TO | MFT.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.12% | -20.87% | +7.75% |
Max Drawdown (1Y)Largest decline over 1 year | -1.99% | -1.33% | -0.66% |
Max Drawdown (3Y)Largest decline over 3 years | -3.21% | -3.40% | +0.19% |
Max Drawdown (5Y)Largest decline over 5 years | -11.78% | -7.45% | -4.33% |
Max Drawdown (10Y)Largest decline over 10 years | -13.12% | -20.87% | +7.75% |
Current DrawdownCurrent decline from peak | -1.25% | 0.00% | -1.25% |
Average DrawdownAverage peak-to-trough decline | -2.33% | -1.38% | -0.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.85% | 0.55% | +0.30% |
Volatility
MUB.TO vs. MFT.TO - Volatility Comparison
Mackenzie Unconstrained Bond ETF (MUB.TO) has a higher volatility of 1.44% compared to Mackenzie Floating Rate Income ETF (MFT.TO) at 0.79%. This indicates that MUB.TO's price experiences larger fluctuations and is considered to be riskier than MFT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MUB.TO | MFT.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.44% | 0.79% | +0.65% |
Volatility (6M)Calculated over the trailing 6-month period | 2.66% | 1.80% | +0.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.43% | 2.58% | +0.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.32% | 3.71% | +2.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.77% | 5.10% | +1.67% |
Dividends
MUB.TO vs. MFT.TO - Dividend Comparison
MUB.TO's dividend yield for the trailing twelve months is around 4.50%, less than MFT.TO's 8.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
MFT.TO Mackenzie Floating Rate Income ETF | 8.28% | 8.57% | 9.44% | 10.40% | 6.26% | 3.89% | 6.18% | 6.97% | 6.14% | 4.84% | 3.94% |
MUB.TO Mackenzie Unconstrained Bond ETF | 4.50% | 4.93% | 4.74% | 4.96% | 4.96% | 3.39% | 3.39% | 3.98% | 4.17% | 4.56% | 3.02% |
Frequently Asked Questions
MUB.TO and MFT.TO have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MUB.TO is categorized as Nontraditional Bonds, while MFT.TO is Corporate Bonds.
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