QBB.TO vs. MKB.TO
QBB.TO (Mackenzie Canadian Aggregate Bond Index ETF) and MKB.TO (Mackenzie Canadian Strategic Fixed Income ETF) are both Total Bond Market funds from Mackenzie. Both are actively managed. Over the past 5 years, QBB.TO returned 0.41%/yr vs 0.68%/yr for MKB.TO. A 0.58 correlation means they provide meaningful diversification when combined.
Performance
QBB.TO vs. MKB.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, QBB.TO achieves a 0.99% return, which is significantly lower than MKB.TO's 1.45% return.
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
- 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 vs. MKB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
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% |
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% |
Correlation
The correlation between QBB.TO and MKB.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, QBB.TO and MKB.TO have become more correlated (0.81) than their long-term average of 0.58, 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
QBB.TO vs. MKB.TO — Risk / Return Rank
QBB.TO
MKB.TO
QBB.TO vs. MKB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Mackenzie Canadian Aggregate Bond Index ETF (QBB.TO) and Mackenzie Canadian Strategic Fixed Income ETF (MKB.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.
| QBB.TO | MKB.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 | 1.18 | 1.20 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.46 | 1.59 | -0.13 |
| Martin ratioReturn relative to average drawdown | 3.72 | 4.11 | -0.39 |
Loading charts...
Drawdowns
QBB.TO vs. MKB.TO - Drawdown Comparison
The maximum QBB.TO drawdown since its inception was -16.70%, smaller than the maximum MKB.TO drawdown of -19.78%. Use the drawdown chart below to compare losses from any high point for QBB.TO and MKB.TO.
Loading charts...
Drawdown Indicators
| QBB.TO | MKB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.70% | -19.78% | +3.08% |
Max Drawdown (1Y)Largest decline over 1 year | -2.81% | -2.99% | +0.18% |
Max Drawdown (3Y)Largest decline over 3 years | -4.21% | -4.67% | +0.46% |
Max Drawdown (5Y)Largest decline over 5 years | -15.32% | -16.05% | +0.73% |
Max Drawdown (10Y)Largest decline over 10 years | — | -19.78% | — |
Current DrawdownCurrent decline from peak | -1.16% | -1.68% | +0.52% |
Average DrawdownAverage peak-to-trough decline | -4.62% | -5.55% | +0.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.10% | 1.15% | -0.05% |
Volatility
QBB.TO vs. MKB.TO - Volatility Comparison
The current volatility for Mackenzie Canadian Aggregate Bond Index ETF (QBB.TO) is 1.10%, while Mackenzie Canadian Strategic Fixed Income ETF (MKB.TO) has a volatility of 1.28%. This indicates that QBB.TO experiences smaller price fluctuations and is considered to be less risky than MKB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| QBB.TO | MKB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.10% | 1.28% | -0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 3.23% | 3.16% | +0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.18% | 4.23% | -0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.15% | 6.39% | -0.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.26% | 11.96% | -5.70% |
Dividends
QBB.TO vs. MKB.TO - Dividend Comparison
QBB.TO's dividend yield for the trailing twelve months is around 3.16%, less than MKB.TO's 3.50% 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
QBB.TO and MKB.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.
Find the right allocation for QBB.TO and MKB.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