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VBU.NEO vs. MKB.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VBU.NEO vs. MKB.TO

Last updated Jul 16, 2026
Documentation

VBU.NEO (Vanguard U.S. Aggregate Bond Index ETF) and MKB.TO (Mackenzie Canadian Strategic Fixed Income ETF) are both Total Bond Market funds. VBU.NEO is passively managed, while MKB.TO is actively managed. Over the past 10 years, VBU.NEO returned 0.51%/yr vs 1.66%/yr for MKB.TO. A 0.54 correlation means they provide meaningful diversification when combined.

Performance

VBU.NEO vs. MKB.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard U.S. Aggregate Bond Index ETF (VBU.NEO) and Mackenzie Canadian Strategic Fixed Income ETF (MKB.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, VBU.NEO achieves a -0.70% return, which is significantly lower than MKB.TO's 1.45% return. Over the past 10 years, VBU.NEO has underperformed MKB.TO with an annualized return of 0.51%, while MKB.TO has yielded a comparatively higher 1.66% annualized return.

VBU.NEO

1D
0.02%
1M
-0.46%
6M
-1.12%
YTD
-0.70%
1Y
2.37%
3Y*
2.31%
5Y*
-1.34%
10Y*
0.51%

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

VBU.NEO vs. MKB.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VBU.NEO
Vanguard U.S. Aggregate Bond Index ETF		-0.70%4.92%0.11%4.79%-13.68%-2.06%7.26%7.77%-1.09%3.47%
MKB.TO
Mackenzie Canadian Strategic Fixed Income ETF		1.45%2.54%4.70%6.67%-11.07%-2.34%8.29%6.55%-1.13%2.87%

Correlation

The correlation between VBU.NEO and MKB.TO is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

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

0.58

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

0.69

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

0.70

Correlation (10Y)
Calculated over the trailing 10-year period

0.55

Correlation (All Time)
Calculated using the full available price history since Apr 19, 2016

0.54

The correlation between VBU.NEO and MKB.TO shifts across timeframes, from 0.54 (all time) to 0.70 (5 years), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Vanguard U.S. Aggregate Bond Index ETF

Mackenzie Canadian Strategic Fixed Income ETF

Often compared with VBU.NEO:
VBU.NEO vs. VBG.NEOVBU.NEO vs. XAGH.TOVBU.NEO vs. VAB.TOVBU.NEO vs. BNDVBU.NEO vs. PLDI.TOVBU.NEO vs. ZUAG.TOVBU.NEO vs. VFV.TO

Return for Risk

VBU.NEO vs. MKB.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VBU.NEO
VBU.NEO Risk / Return Rank: 1919
Overall Rank
VBU.NEO Sharpe Ratio Rank: 1919
Sharpe Ratio Rank
VBU.NEO Sortino Ratio Rank: 1717
Sortino Ratio Rank
VBU.NEO Omega Ratio Rank: 1818
Omega Ratio Rank
VBU.NEO Calmar Ratio Rank: 2121
Calmar Ratio Rank
VBU.NEO Martin Ratio Rank: 2121
Martin Ratio Rank
MKB.TO
MKB.TO Risk / Return Rank: 3535
Overall Rank
MKB.TO Sharpe Ratio Rank: 3737
Sharpe Ratio Rank
MKB.TO Sortino Ratio Rank: 3636
Sortino Ratio Rank
MKB.TO Omega Ratio Rank: 3434
Omega Ratio Rank
MKB.TO Calmar Ratio Rank: 3636
Calmar Ratio Rank
MKB.TO Martin Ratio Rank: 3333
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.

VBU.NEO vs. MKB.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard U.S. Aggregate Bond Index ETF (VBU.NEO) 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.

VBU.NEOMKB.TODifference
Sharpe ratioReturn per unit of total volatility
0.54
1.13

-0.60

Sortino ratioReturn per unit of downside risk
0.80
1.63

-0.83

Omega ratioGain probability vs. loss probability

1.11

1.20

-0.09

Calmar ratioReturn relative to maximum drawdown

0.77

1.59

-0.82

Martin ratioReturn relative to average drawdown

2.00

4.11

-2.11

VBU.NEO vs. MKB.TO - Sharpe Ratio Comparison

The current VBU.NEO Sharpe Ratio is 0.54, which is lower than the MKB.TO Sharpe Ratio of 1.13. The chart below compares the historical Sharpe Ratios of VBU.NEO and MKB.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

VBU.NEO vs. MKB.TO - Drawdown Comparison

The maximum VBU.NEO drawdown since its inception was -19.34%, roughly equal to the maximum MKB.TO drawdown of -19.78%. Use the drawdown chart below to compare losses from any high point for VBU.NEO and MKB.TO.

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Drawdown Indicators

VBU.NEOMKB.TODifference

Max Drawdown

Largest peak-to-trough decline

-19.34%

-19.78%

+0.44%

Max Drawdown (1Y)

Largest decline over 1 year

-3.08%

-2.99%

-0.09%

Max Drawdown (3Y)

Largest decline over 3 years

-5.94%

-4.67%

-1.27%

Max Drawdown (5Y)

Largest decline over 5 years

-18.44%

-16.05%

-2.39%

Max Drawdown (10Y)

Largest decline over 10 years

-19.34%

-19.78%

+0.44%

Current Drawdown

Current decline from peak

-8.18%

-1.68%

-6.50%

Average Drawdown

Average peak-to-trough decline

-5.32%

-5.55%

+0.23%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.19%

1.15%

+0.04%

Volatility

VBU.NEO vs. MKB.TO - Volatility Comparison

Vanguard U.S. Aggregate Bond Index ETF (VBU.NEO) and Mackenzie Canadian Strategic Fixed Income ETF (MKB.TO) have volatilities of 1.24% and 1.28%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VBU.NEOMKB.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

1.24%

1.28%

-0.04%

Volatility (6M)

Calculated over the trailing 6-month period

3.71%

3.16%

+0.55%

Volatility (1Y)

Calculated over the trailing 1-year period

4.45%

4.23%

+0.22%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.30%

6.39%

-0.09%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

5.95%

11.96%

-6.01%

Dividends

VBU.NEO vs. MKB.TO - Dividend Comparison

VBU.NEO's dividend yield for the trailing twelve months is around 3.67%, more than MKB.TO's 3.50% yield.

PositionTTM20252024202320222021202020192018201720162015
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%0.00%
VBU.NEO
Vanguard U.S. Aggregate Bond Index ETF		3.67%3.50%3.34%2.93%2.32%1.87%2.15%2.36%2.24%2.20%2.18%2.23%

Frequently Asked Questions

VBU.NEO and MKB.TO have a correlation of 0.58, 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: Vanguard and Mackenzie.

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