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VRIF.TO vs. MGRW.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VRIF.TO vs. MGRW.TO

Last updated Jun 4, 2026

VRIF.TO (Vanguard Retirement Income ETF Portfolio) and MGRW.TO (Mackenzie Growth Allocation ETF) are both Diversified Portfolio funds. Both are actively managed. Over the past 5 years, VRIF.TO returned 4.73%/yr vs 12.14%/yr for MGRW.TO. At a 0.40 correlation, their price movements are largely independent.

Performance

VRIF.TO vs. MGRW.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard Retirement Income ETF Portfolio (VRIF.TO) and Mackenzie Growth Allocation ETF (MGRW.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, VRIF.TO achieves a 4.88% return, which is significantly lower than MGRW.TO's 9.90% return.

VRIF.TO

1D
-0.18%
1M
2.85%
YTD
4.88%
6M
4.72%
1Y
12.14%
3Y*
9.70%
5Y*
4.73%
10Y*
—

MGRW.TO

1D
0.05%
1M
4.67%
YTD
9.90%
6M
10.22%
1Y
25.89%
3Y*
19.61%
5Y*
12.14%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

VRIF.TO vs. MGRW.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
VRIF.TO
Vanguard Retirement Income ETF Portfolio		4.88%10.58%8.44%8.97%-11.50%7.44%5.84%
MGRW.TO
Mackenzie Growth Allocation ETF		9.90%18.19%21.41%15.35%-9.30%13.37%7.50%

Correlation

The correlation between VRIF.TO and MGRW.TO is 0.54, 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

0.54

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

0.46

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

0.41

Correlation (All Time)
Calculated using the full available price history since Sep 30, 2020

0.40

The correlation between VRIF.TO and MGRW.TO shifts across timeframes, from 0.40 (all time) to 0.54 (1 year), 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 Retirement Income ETF Portfolio

Mackenzie Growth Allocation ETF

Often compared with VRIF.TO:
VRIF.TO vs. VBAL.TOVRIF.TO vs. ZMI.TOVRIF.TO vs. ZBAL.TOVRIF.TO vs. XTR.TOVRIF.TO vs. PID.TOVRIF.TO vs. XEI.TOVRIF.TO vs. VDY.TO
Often compared with MGRW.TO:
MGRW.TO vs. MAAA.TOMGRW.TO vs. PYF.TOMGRW.TO vs. QDXH.TOMGRW.TO vs. VGRO.TOMGRW.TO vs. QTIP.NEOMGRW.TO vs. TGRO.TOMGRW.TO vs. WSHR.NEO

Return for Risk

VRIF.TO vs. MGRW.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VRIF.TO
VRIF.TO Risk / Return Rank: 6666
Overall Rank
VRIF.TO Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
VRIF.TO Sortino Ratio Rank: 7373
Sortino Ratio Rank
VRIF.TO Omega Ratio Rank: 7373
Omega Ratio Rank
VRIF.TO Calmar Ratio Rank: 5454
Calmar Ratio Rank
VRIF.TO Martin Ratio Rank: 6262
Martin Ratio Rank
MGRW.TO
MGRW.TO Risk / Return Rank: 8383
Overall Rank
MGRW.TO Sharpe Ratio Rank: 8282
Sharpe Ratio Rank
MGRW.TO Sortino Ratio Rank: 8888
Sortino Ratio Rank
MGRW.TO Omega Ratio Rank: 8989
Omega Ratio Rank
MGRW.TO Calmar Ratio Rank: 7777
Calmar Ratio Rank
MGRW.TO Martin Ratio Rank: 8181
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.

VRIF.TO vs. MGRW.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Retirement Income ETF Portfolio (VRIF.TO) and Mackenzie Growth Allocation ETF (MGRW.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.

VRIF.TOMGRW.TODifference
Sharpe ratioReturn per unit of total volatility
2.27
2.64

-0.36

Sortino ratioReturn per unit of downside risk
3.34
3.96

-0.62

Omega ratioGain probability vs. loss probability

1.44

1.56

-0.12

Calmar ratioReturn relative to maximum drawdown

2.68

3.87

-1.19

Martin ratioReturn relative to average drawdown

11.16

15.91

-4.75

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VRIF.TO vs. MGRW.TO - Sharpe Ratio Comparison

The current VRIF.TO Sharpe Ratio is 2.27, which is comparable to the MGRW.TO Sharpe Ratio of 2.64. The chart below compares the historical Sharpe Ratios of VRIF.TO and MGRW.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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Sharpe Ratios by Period

VRIF.TOMGRW.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.27

2.64

-0.36

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.76

1.14

-0.38

Sharpe Ratio (All Time)

Calculated using the full available price history

0.92

1.25

-0.33

Drawdowns

VRIF.TO vs. MGRW.TO - Drawdown Comparison

The maximum VRIF.TO drawdown since its inception was -16.19%, smaller than the maximum MGRW.TO drawdown of -17.20%. Use the drawdown chart below to compare losses from any high point for VRIF.TO and MGRW.TO.

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Drawdown Indicators

VRIF.TOMGRW.TODifference

Max Drawdown

Largest peak-to-trough decline

-16.19%

-17.20%

+1.01%

Max Drawdown (1Y)

Largest decline over 1 year

-4.55%

-6.72%

+2.17%

Max Drawdown (3Y)

Largest decline over 3 years

-5.01%

-12.17%

+7.16%

Max Drawdown (5Y)

Largest decline over 5 years

-16.19%

-17.20%

+1.01%

Current Drawdown

Current decline from peak

-0.18%

0.00%

-0.18%

Average Drawdown

Average peak-to-trough decline

-3.87%

-3.37%

-0.50%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.09%

1.63%

-0.54%

Volatility

VRIF.TO vs. MGRW.TO - Volatility Comparison

The current volatility for Vanguard Retirement Income ETF Portfolio (VRIF.TO) is 2.15%, while Mackenzie Growth Allocation ETF (MGRW.TO) has a volatility of 3.39%. This indicates that VRIF.TO experiences smaller price fluctuations and is considered to be less risky than MGRW.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VRIF.TOMGRW.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.15%

3.39%

-1.24%

Volatility (6M)

Calculated over the trailing 6-month period

4.61%

8.09%

-3.48%

Volatility (1Y)

Calculated over the trailing 1-year period

5.37%

9.87%

-4.50%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.23%

10.68%

-4.45%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.25%

10.49%

-4.24%

Dividends

VRIF.TO vs. MGRW.TO - Dividend Comparison

VRIF.TO's dividend yield for the trailing twelve months is around 3.73%, more than MGRW.TO's 1.73% yield.

PositionTTM202520242023202220212020
MGRW.TO
Mackenzie Growth Allocation ETF		1.73%1.84%1.93%2.28%2.44%1.77%0.79%
VRIF.TO
Vanguard Retirement Income ETF Portfolio		3.73%3.77%3.96%4.33%4.72%3.86%1.27%

Frequently Asked Questions

VRIF.TO and MGRW.TO have a correlation of 0.54, 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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