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QUU.TO vs. MCSB.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

QUU.TO vs. MCSB.TO

Last updated Jul 16, 2026
Documentation

QUU.TO (Mackenzie US Large Cap Equity Index ETF) and MCSB.TO (Mackenzie Canadian Short Term Fixed Income ETF) are both exchange-traded funds - QUU.TO is a Large Cap Blend Equities fund tracking the Solactive US Large Cap CAD Index, while MCSB.TO is a Short-Term Bond fund actively managed by Mackenzie. QUU.TO is passively managed, while MCSB.TO is actively managed. Over the past 5 years, QUU.TO returned 15.31%/yr vs 5.00%/yr for MCSB.TO. At a 0.00 correlation, their price movements are largely independent.

Performance

QUU.TO vs. MCSB.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Mackenzie US Large Cap Equity Index ETF (QUU.TO) and Mackenzie Canadian Short Term Fixed Income ETF (MCSB.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, QUU.TO achieves a 13.61% return, which is significantly higher than MCSB.TO's 1.47% return.

QUU.TO

1D
0.02%
1M
0.47%
6M
11.27%
YTD
13.61%
1Y
25.09%
3Y*
23.11%
5Y*
15.31%
10Y*
—

MCSB.TO

1D
0.15%
1M
0.06%
6M
1.06%
YTD
1.47%
1Y
3.36%
3Y*
5.41%
5Y*
5.00%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

QUU.TO vs. MCSB.TO - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
QUU.TO
Mackenzie US Large Cap Equity Index ETF		13.61%13.08%35.77%25.01%-15.10%26.45%18.85%24.81%-1.02%
MCSB.TO
Mackenzie Canadian Short Term Fixed Income ETF		1.47%3.93%6.41%5.77%-4.18%11.34%5.66%3.79%1.62%

Correlation

The correlation between QUU.TO and MCSB.TO is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.15

Correlation (3Y)
Calculated over the trailing 3-year period

0.06

Correlation (5Y)
Calculated over the trailing 5-year period

0.02

Correlation (All Time)
Calculated using the full available price history since Jan 25, 2018

0.00

The correlation between QUU.TO and MCSB.TO shifts across timeframes, from 0.00 (all time) to 0.15 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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Mackenzie US Large Cap Equity Index ETF

Mackenzie Canadian Short Term Fixed Income ETF

Often compared with QUU.TO:
QUU.TO vs. XEQT.TOQUU.TO vs. VOOQUU.TO vs. VUN.TOQUU.TO vs. VTIQUU.TO vs. XUS.TOQUU.TO vs. ZNQ.TOQUU.TO vs. ZEA.TO

Return for Risk

QUU.TO vs. MCSB.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
QUU.TO
QUU.TO Risk / Return Rank: 7575
Overall Rank
QUU.TO Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
QUU.TO Sortino Ratio Rank: 7676
Sortino Ratio Rank
QUU.TO Omega Ratio Rank: 7676
Omega Ratio Rank
QUU.TO Calmar Ratio Rank: 7171
Calmar Ratio Rank
QUU.TO Martin Ratio Rank: 7171
Martin Ratio Rank
MCSB.TO
MCSB.TO Risk / Return Rank: 5353
Overall Rank
MCSB.TO Sharpe Ratio Rank: 5353
Sharpe Ratio Rank
MCSB.TO Sortino Ratio Rank: 5252
Sortino Ratio Rank
MCSB.TO Omega Ratio Rank: 5858
Omega Ratio Rank
MCSB.TO Calmar Ratio Rank: 5656
Calmar Ratio Rank
MCSB.TO Martin Ratio Rank: 4848
Martin Ratio Rank
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.

QUU.TO vs. MCSB.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Mackenzie US Large Cap Equity Index ETF (QUU.TO) and Mackenzie Canadian Short Term Fixed Income ETF (MCSB.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.

QUU.TOMCSB.TODifference
Sharpe ratioReturn per unit of total volatility
1.98
1.49

+0.49

Sortino ratioReturn per unit of downside risk
2.73
2.11

+0.62

Omega ratioGain probability vs. loss probability

1.36

1.29

+0.07

Calmar ratioReturn relative to maximum drawdown

2.86

2.27

+0.59

Martin ratioReturn relative to average drawdown

10.44

6.58

+3.87

QUU.TO vs. MCSB.TO - Sharpe Ratio Comparison

The current QUU.TO Sharpe Ratio is 1.98, which is higher than the MCSB.TO Sharpe Ratio of 1.49. The chart below compares the historical Sharpe Ratios of QUU.TO and MCSB.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

QUU.TO vs. MCSB.TO - Drawdown Comparison

The maximum QUU.TO drawdown since its inception was -26.86%, which is greater than MCSB.TO's maximum drawdown of -8.35%. Use the drawdown chart below to compare losses from any high point for QUU.TO and MCSB.TO.

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Drawdown Indicators

QUU.TOMCSB.TODifference

Max Drawdown

Largest peak-to-trough decline

-26.86%

-8.35%

-18.51%

Max Drawdown (1Y)

Largest decline over 1 year

-8.81%

-1.49%

-7.32%

Max Drawdown (3Y)

Largest decline over 3 years

-19.23%

-1.49%

-17.74%

Max Drawdown (5Y)

Largest decline over 5 years

-24.00%

-6.24%

-17.76%

Current Drawdown

Current decline from peak

-1.12%

-0.34%

-0.78%

Average Drawdown

Average peak-to-trough decline

-4.37%

-1.05%

-3.32%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.41%

0.51%

+1.90%

Volatility

QUU.TO vs. MCSB.TO - Volatility Comparison

Mackenzie US Large Cap Equity Index ETF (QUU.TO) has a higher volatility of 3.18% compared to Mackenzie Canadian Short Term Fixed Income ETF (MCSB.TO) at 0.71%. This indicates that QUU.TO's price experiences larger fluctuations and is considered to be riskier than MCSB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

QUU.TOMCSB.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.18%

0.71%

+2.47%

Volatility (6M)

Calculated over the trailing 6-month period

10.13%

1.62%

+8.51%

Volatility (1Y)

Calculated over the trailing 1-year period

12.73%

2.26%

+10.47%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.42%

6.42%

+9.00%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.24%

5.83%

+11.41%

Dividends

QUU.TO vs. MCSB.TO - Dividend Comparison

QUU.TO's dividend yield for the trailing twelve months is around 0.88%, less than MCSB.TO's 3.12% yield.

PositionTTM202520242023202220212020201920182017
MCSB.TO
Mackenzie Canadian Short Term Fixed Income ETF		3.12%3.16%3.17%3.18%2.47%12.93%2.47%2.31%2.91%0.14%
QUU.TO
Mackenzie US Large Cap Equity Index ETF		0.88%0.97%1.00%1.21%1.59%0.98%1.34%1.59%1.55%0.00%

Frequently Asked Questions

QUU.TO and MCSB.TO have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

QUU.TO is categorized as Large Cap Blend Equities, while MCSB.TO is Short-Term Bond.

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