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WSHR.NEO vs. MCSB.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

WSHR.NEO vs. MCSB.TO

Last updated Jul 18, 2026
Documentation

WSHR.NEO (Wealthsimple Shariah World Equity Index ETF) and MCSB.TO (Mackenzie Canadian Short Term Fixed Income ETF) are both exchange-traded funds - WSHR.NEO is a Global Equities fund tracking the Dow Jones Islamic Market Developed Markets Quality and Low Volatility Index, while MCSB.TO is a Short-Term Bond fund actively managed by Mackenzie. WSHR.NEO is passively managed, while MCSB.TO is actively managed. Over the past 5 years, WSHR.NEO returned 6.24%/yr vs 5.01%/yr for MCSB.TO. At a 0.10 correlation, their price movements are largely independent.

Performance

WSHR.NEO vs. MCSB.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Wealthsimple Shariah World Equity Index ETF (WSHR.NEO) 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, WSHR.NEO achieves a 9.30% return, which is significantly higher than MCSB.TO's 1.52% return.

WSHR.NEO

1D
0.06%
1M
1.62%
6M
5.39%
YTD
9.30%
1Y
11.56%
3Y*
10.08%
5Y*
6.24%
10Y*
—

MCSB.TO

1D
0.05%
1M
0.06%
6M
1.01%
YTD
1.52%
1Y
3.47%
3Y*
5.36%
5Y*
5.01%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

WSHR.NEO vs. MCSB.TO - Yearly Performance Comparison

2026 (YTD)20252024202320222021
WSHR.NEO
Wealthsimple Shariah World Equity Index ETF		9.30%5.34%12.31%11.88%-11.31%15.91%
MCSB.TO
Mackenzie Canadian Short Term Fixed Income ETF		1.52%3.93%6.41%5.77%-4.18%11.86%

Correlation

The correlation between WSHR.NEO and MCSB.TO is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

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

0.05

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

0.12

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

0.10

Correlation (All Time)
Calculated using the full available price history since May 12, 2021

0.10

Compare stocks, funds, or ETFs

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Wealthsimple Shariah World Equity Index ETF

Mackenzie Canadian Short Term Fixed Income ETF

Often compared with WSHR.NEO:
WSHR.NEO vs. SPUSWSHR.NEO vs. SPWOWSHR.NEO vs. XEQT.TOWSHR.NEO vs. UMMAWSHR.NEO vs. SPYWSHR.NEO vs. QTIP.NEOWSHR.NEO vs. XST.TO
Often compared with MCSB.TO:
MCSB.TO vs. DCS.TOMCSB.TO vs. QSB.TOMCSB.TO vs. RUSB.TOMCSB.TO vs. TUSB.TOMCSB.TO vs. ZSDB.TOMCSB.TO vs. MUB.TOMCSB.TO vs. QCN.TO

Return for Risk

WSHR.NEO vs. MCSB.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
WSHR.NEO
WSHR.NEO Risk / Return Rank: 3535
Overall Rank
WSHR.NEO Sharpe Ratio Rank: 3737
Sharpe Ratio Rank
WSHR.NEO Sortino Ratio Rank: 3535
Sortino Ratio Rank
WSHR.NEO Omega Ratio Rank: 3838
Omega Ratio Rank
WSHR.NEO Calmar Ratio Rank: 3232
Calmar Ratio Rank
WSHR.NEO Martin Ratio Rank: 3636
Martin Ratio Rank
MCSB.TO
MCSB.TO Risk / Return Rank: 6262
Overall Rank
MCSB.TO Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
MCSB.TO Sortino Ratio Rank: 6262
Sortino Ratio Rank
MCSB.TO Omega Ratio Rank: 6969
Omega Ratio Rank
MCSB.TO Calmar Ratio Rank: 6363
Calmar Ratio Rank
MCSB.TO Martin Ratio Rank: 5353
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.

WSHR.NEO vs. MCSB.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Wealthsimple Shariah World Equity Index ETF (WSHR.NEO) 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.

WSHR.NEOMCSB.TODifference
Sharpe ratioReturn per unit of total volatility
1.09
1.55

-0.46

Sortino ratioReturn per unit of downside risk
1.52
2.20

-0.68

Omega ratioGain probability vs. loss probability

1.20

1.31

-0.10

Calmar ratioReturn relative to maximum drawdown

1.30

2.34

-1.04

Martin ratioReturn relative to average drawdown

4.34

6.77

-2.43

WSHR.NEO vs. MCSB.TO - Sharpe Ratio Comparison

The current WSHR.NEO Sharpe Ratio is 1.09, which is comparable to the MCSB.TO Sharpe Ratio of 1.55. The chart below compares the historical Sharpe Ratios of WSHR.NEO 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

WSHR.NEO vs. MCSB.TO - Drawdown Comparison

The maximum WSHR.NEO drawdown since its inception was -21.74%, 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 WSHR.NEO and MCSB.TO.

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Drawdown Indicators

WSHR.NEOMCSB.TODifference

Max Drawdown

Largest peak-to-trough decline

-21.74%

-8.35%

-13.39%

Max Drawdown (1Y)

Largest decline over 1 year

-8.96%

-1.49%

-7.47%

Max Drawdown (3Y)

Largest decline over 3 years

-11.15%

-1.49%

-9.66%

Max Drawdown (5Y)

Largest decline over 5 years

-21.74%

-6.24%

-15.50%

Current Drawdown

Current decline from peak

-0.74%

-0.29%

-0.45%

Average Drawdown

Average peak-to-trough decline

-5.08%

-1.05%

-4.03%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.67%

0.51%

+2.16%

Volatility

WSHR.NEO vs. MCSB.TO - Volatility Comparison

Wealthsimple Shariah World Equity Index ETF (WSHR.NEO) has a higher volatility of 2.38% compared to Mackenzie Canadian Short Term Fixed Income ETF (MCSB.TO) at 0.71%. This indicates that WSHR.NEO'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

WSHR.NEOMCSB.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.38%

0.71%

+1.67%

Volatility (6M)

Calculated over the trailing 6-month period

7.74%

1.62%

+6.12%

Volatility (1Y)

Calculated over the trailing 1-year period

10.72%

2.26%

+8.46%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.14%

6.42%

+4.72%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

11.03%

5.82%

+5.21%

Dividends

WSHR.NEO vs. MCSB.TO - Dividend Comparison

WSHR.NEO's dividend yield for the trailing twelve months is around 1.38%, 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%
WSHR.NEO
Wealthsimple Shariah World Equity Index ETF		1.38%1.34%1.31%1.34%1.45%0.44%0.00%0.00%0.00%0.00%

Frequently Asked Questions

WSHR.NEO and MCSB.TO have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

WSHR.NEO is categorized as Global Equities, while MCSB.TO is Short-Term Bond.

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