WSHR.NEO vs. MFT.TO

Last updated Jul 25, 2026

WSHR.NEO (Wealthsimple Shariah World Equity Index ETF) and MFT.TO (Mackenzie Floating Rate 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 MFT.TO is a Corporate Bonds fund actively managed by Mackenzie. WSHR.NEO is passively managed, while MFT.TO is actively managed. Over the past 5 years, WSHR.NEO returned 5.89%/yr vs 3.88%/yr for MFT.TO. At a 0.14 correlation, their price movements are largely independent.

Performance

WSHR.NEO vs. MFT.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 Floating Rate Income ETF (MFT.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WSHR.NEO achieves a 8.73% return, which is significantly higher than MFT.TO's 3.31% return.

WSHR.NEO

• 1D: 0.82%
• 1M: 1.98%
• 6M: 5.76%
• YTD: 8.73%
• 1Y: 10.11%
• 3Y*: 9.70%
• 5Y*: 5.89%
• 10Y*: —
• ALL TIME*: 7.83%

MFT.TO

• 1D: 0.00%
• 1M: 1.38%
• 6M: 3.12%
• YTD: 3.31%
• 1Y: 3.27%
• 3Y*: 5.40%
• 5Y*: 3.88%
• 10Y*: 4.34%
• ALL TIME*: 4.36%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MFT.TO Mackenzie Floating Rate Income ETF	CA$59.55K	CA$65.03K	CA$75.29K
WSHR.NEO Wealthsimple Shariah World Equity Index ETF	CA$492.20K	CA$642.90K	CA$601.04K

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

	2026 (YTD)	2025	2024	2023	2022	2021
WSHR.NEO Wealthsimple Shariah World Equity Index ETF	8.73%	5.34%	12.31%	11.88%	-11.31%	15.91%
MFT.TO Mackenzie Floating Rate Income ETF	3.31%	0.81%	8.84%	11.99%	-6.31%	3.09%

Correlation

The correlation between WSHR.NEO and MFT.TO is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (3Y) Calculated over the trailing 3-year period	0.13
Correlation (5Y) Calculated over the trailing 5-year period	0.14
Correlation (All Time) Calculated using the full available price history since May 12, 2021	0.14

Return for Risk

WSHR.NEO vs. MFT.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: 37
WSHR.NEO Sharpe Ratio Rank: 39
WSHR.NEO Sortino Ratio Rank: 36
WSHR.NEO Omega Ratio Rank: 38
WSHR.NEO Calmar Ratio Rank: 33
WSHR.NEO Martin Ratio Rank: 37

MFT.TO

MFT.TO Risk / Return Rank: 55
MFT.TO Sharpe Ratio Rank: 52
MFT.TO Sortino Ratio Rank: 54
MFT.TO Omega Ratio Rank: 50
MFT.TO Calmar Ratio Rank: 70
MFT.TO Martin Ratio Rank: 51

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. MFT.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 Floating Rate Income ETF (MFT.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.NEO	MFT.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.95	1.27	-0.32
Sortino ratio: Return per unit of downside risk	1.33	1.88	-0.54
Omega ratio: Gain probability vs. loss probability	1.18	1.23	-0.05
Calmar ratio: Return relative to maximum drawdown	1.14	2.48	-1.34
Martin ratio: Return relative to average drawdown	3.79	5.93	-2.14

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

The current WSHR.NEO Sharpe Ratio is 0.95, which is comparable to the MFT.TO Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of WSHR.NEO and MFT.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.

Drawdowns

WSHR.NEO vs. MFT.TO - Drawdown Comparison

The maximum WSHR.NEO drawdown since its inception was -21.74%, roughly equal to the maximum MFT.TO drawdown of -20.87%. Use the drawdown chart below to compare losses from any high point for WSHR.NEO and MFT.TO.

Drawdown Indicators

	WSHR.NEO	MFT.TO	Difference
Max Drawdown Largest peak-to-trough decline	-21.74%	-20.87%	-0.87%
Max Drawdown (1Y) Largest decline over 1 year	-8.96%	-1.33%	-7.63%
Max Drawdown (3Y) Largest decline over 3 years	-11.15%	-3.40%	-7.75%
Max Drawdown (5Y) Largest decline over 5 years	-21.74%	-7.45%	-14.29%
Max Drawdown (10Y) Largest decline over 10 years	—	-20.87%	—
Current Drawdown Current decline from peak	-1.26%	0.00%	-1.26%
Average Drawdown Average peak-to-trough decline	-5.06%	-1.38%	-3.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.68%	0.55%	+2.13%

Volatility

WSHR.NEO vs. MFT.TO - Volatility Comparison

Wealthsimple Shariah World Equity Index ETF (WSHR.NEO) has a higher volatility of 2.48% compared to Mackenzie Floating Rate Income ETF (MFT.TO) at 0.76%. This indicates that WSHR.NEO's price experiences larger fluctuations and is considered to be riskier than MFT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WSHR.NEO	MFT.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.48%	0.76%	+1.72%
Volatility (6M) Calculated over the trailing 6-month period	7.76%	1.88%	+5.88%
Volatility (1Y) Calculated over the trailing 1-year period	10.76%	2.59%	+8.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.13%	3.72%	+7.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.03%	5.08%	+5.95%

Dividends

WSHR.NEO vs. MFT.TO - Dividend Comparison

WSHR.NEO's dividend yield for the trailing twelve months is around 1.39%, less than MFT.TO's 8.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
MFT.TO Mackenzie Floating Rate Income ETF	8.23%	8.57%	9.44%	10.40%	6.26%	3.89%	6.18%	6.97%	6.14%	4.84%	3.94%
WSHR.NEO Wealthsimple Shariah World Equity Index ETF	1.39%	1.34%	1.31%	1.34%	1.45%	0.44%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both WSHR.NEO and MFT.TO in my portfolio?

WSHR.NEO and MFT.TO have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between WSHR.NEO and MFT.TO?

WSHR.NEO is categorized as Global Equities, while MFT.TO is Corporate Bonds.