QTIP.NEO vs. MAAA.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Mackenzie US TIPS Index ETF (CAD-Hedged) (QTIP.NEO) and Mackenzie AAA CLO ETF (MAAA.TO).

QTIP.NEO and MAAA.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QTIP.NEO is a passively managed fund by Mackenzie that tracks the performance of the Solactive US Treasury Inflation-Linked Bond Hedged to CAD TR Index. It was launched on Jan 24, 2018. MAAA.TO is a passively managed fund by Mackenzie that tracks the performance of the JPM CLOIE AAA Index (CAD-hedged). It was launched on May 1, 2025. Both QTIP.NEO and MAAA.TO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

QTIP.NEO vs. MAAA.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Mackenzie US TIPS Index ETF (CAD-Hedged) (QTIP.NEO) and Mackenzie AAA CLO ETF (MAAA.TO). The values are adjusted to include any dividend payments, if applicable.

QTIP.NEO vs. MAAA.TO - Yearly Performance Comparison

	2026 (YTD)	2025
QTIP.NEO Mackenzie US TIPS Index ETF (CAD-Hedged)	0.29%	1.29%
MAAA.TO Mackenzie AAA CLO ETF	0.28%	2.87%

Returns By Period

The year-to-date returns for both stocks are quite close, with QTIP.NEO having a 0.29% return and MAAA.TO slightly lower at 0.28%.

QTIP.NEO

• 1D: 0.30%
• 1M: -1.31%
• YTD: 0.29%
• 6M: -0.36%
• 1Y: 1.29%
• 3Y*: 1.89%
• 5Y*: 0.54%
• 10Y*: —

MAAA.TO

• 1D: -0.02%
• 1M: 0.17%
• YTD: 0.28%
• 6M: 1.26%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

QTIP.NEO vs. MAAA.TO - Expense Ratio Comparison

QTIP.NEO has a 0.15% expense ratio, which is lower than MAAA.TO's 0.18% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

MAAA.TO

Mackenzie AAA CLO ETF

QTIP.NEO

Mackenzie US TIPS Index ETF (CAD-Hedged)

Return for Risk

QTIP.NEO vs. MAAA.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

QTIP.NEO

QTIP.NEO Risk / Return Rank: 20
QTIP.NEO Sharpe Ratio Rank: 20
QTIP.NEO Sortino Ratio Rank: 17
QTIP.NEO Omega Ratio Rank: 16
QTIP.NEO Calmar Ratio Rank: 25
QTIP.NEO Martin Ratio Rank: 22

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

QTIP.NEO vs. MAAA.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Mackenzie US TIPS Index ETF (CAD-Hedged) (QTIP.NEO) and Mackenzie AAA CLO ETF (MAAA.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.

	QTIP.NEO	MAAA.TO	Difference
Sharpe ratio Return per unit of total volatility	0.32	—	—
Sortino ratio Return per unit of downside risk	0.46	—	—
Omega ratio Gain probability vs. loss probability	1.06	—	—
Calmar ratio Return relative to maximum drawdown	0.59	—	—
Martin ratio Return relative to average drawdown	1.43	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	QTIP.NEO	MAAA.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.32	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.09	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	1.04	-0.70

Correlation

The correlation between QTIP.NEO and MAAA.TO is -0.14. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

QTIP.NEO vs. MAAA.TO - Dividend Comparison

QTIP.NEO's dividend yield for the trailing twelve months is around 4.31%, more than MAAA.TO's 3.85% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
QTIP.NEO Mackenzie US TIPS Index ETF (CAD-Hedged)	4.16%	4.54%	4.53%	5.08%	9.47%	5.24%	2.17%	2.29%	2.91%
MAAA.TO Mackenzie AAA CLO ETF	3.85%	3.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

QTIP.NEO vs. MAAA.TO - Drawdown Comparison

The maximum QTIP.NEO drawdown since its inception was -15.03%, which is greater than MAAA.TO's maximum drawdown of -1.87%. Use the drawdown chart below to compare losses from any high point for QTIP.NEO and MAAA.TO.

Drawdown Indicators

	QTIP.NEO	MAAA.TO	Difference
Max Drawdown Largest peak-to-trough decline	-15.03%	-1.87%	-13.16%
Max Drawdown (1Y) Largest decline over 1 year	-2.65%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-15.03%	—	—
Current Drawdown Current decline from peak	-4.64%	-0.25%	-4.39%
Average Drawdown Average peak-to-trough decline	-4.80%	-0.68%	-4.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.09%	—	—

Volatility

Volatility by Period

	QTIP.NEO	MAAA.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.37%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.49%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	4.10%	3.39%	+0.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.26%	3.39%	+2.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.36%	3.39%	+2.97%