A side-by-side comparison of Mackenzie Global Equity & Gold Overlay ETF (MGEG) and iShares Systematic Alternatives Active ETF (IALT) to help Canadian investors make an informed decision.
1-Year Performance
Normalised to 100 at the start — shows relative return over the trailing 12 months.
Head-to-Head Comparison
| Metric | MGEG | IALT |
|---|---|---|
| YTD Return | -7.35% | +2.31%✓ |
| 1-Day Change | -1.37% | -0.59%✓ |
| 1-Week Change | +1.46%✓ | -2.41% |
| 1-Month Change | -7.49% | -4.10%✓ |
| Current Price | $18.77 | $28.77 |
| AUM | $7M | $7.81B✓ |
| MER (Expense Ratio) | — | — |
| Dividend Yield | — | — |
| Distribution Frequency | — | — |
| Inception Date | 2026-10-01 | 2025-12-09 |
| Holdings Count | 1 | 1680 |
| MorningStar Rating | — | — |
| Category | Multi-Strategy Alternatives | Multi-Strategy Alternatives |
| Beta | — | 0.00 |
| 52-Week High | $20.31 | $30.32 |
| 52-Week Low | $18.32 | $24.87 |
| 50-Day MA | $19.43 | $29.61 |
| 200-Day MA | $19.43 | $28.20 |
✓ marks the better value for return/yield/AUM metrics. Lower ✓ for MER.
Top 10 Holdings
| 1 | MGQE | Mackenzie Global Equity ETF | 21.00% |
| 1 | TD | Toronto Dominion Bank | 0.98% |
| 2 | ADBE | Adobe Inc. | 0.97% |
| 3 | NEM | Newmont Goldcorp Corp | 0.99% |
| 4 | SHEL | Shell plc | 0.97% |
| 5 | ENEL | Enel SpA | 0.89% |
| 6 | CS | AXA SA | 0.73% |
| 7 | ITW | Illinois Tool Works Inc | 0.73% |
| 8 | ACN | Accenture plc | 0.72% |
| 9 | PH | Parker-Hannifin Corporation | 0.73% |
| 10 | COST | Costco Wholesale Corp | 0.73% |
Sector Weights
| Sector | MGEG | IALT |
|---|---|---|
| Basic Materials | 3.64% | 5.53% |
| Communication Services | 9.69% | 4.06% |
| Consumer Cyclicals | 6.30% | 8.90% |
| Consumer Defensive | 5.47% | 6.99% |
| Energy | 4.16% | 6.94% |
| Financial Services | 15.22% | 17.53% |
| Healthcare | 10.55% | 10.44% |
| Industrials | 12.32% | 17.89% |
| Real Estate | 0.13% | 3.78% |
| Technology | 30.03% | 14.00% |
| Utilities | 1.64% | 4.22% |
About MGEG
Mackenzie Global Equity & Gold Overlay ETF is an exchange-traded fund launched and managed by Mackenzie Financial Corporation. It invests in public equity and commodity markets of the global region. For its equity portion, it invests in stocks of companies operating across diversified sectors. The fund invests in growth and value stocks of companies across diversified market capitalization. For its commodity portion, it invests through derivatives in gold. The fund uses derivatives such as futur…
About IALT
The fund seeks to achieve its investment objective by investing in a range of global asset classes and a diversified set of alternative (or non-traditional) strategies that seek to provide total return in both periods of strong returns and periods of market stress.
Which ETF is Right for You?
Both MGEG and IALT are listed on Canadian exchanges and accessible through most Canadian brokerages including Questrade, Wealthsimple Trade, TD Direct, and Interactive Brokers.
Based on the available data, IALT scores higher across our tracked metrics including YTD performance, dividend yield, and AUM — though both ETFs warrant individual research before investing.
- Consider your account type (TFSA, RRSP, non-registered) as it can affect dividend taxation.
- Compare management expense ratios (MER) directly on each provider's website.
- Look at average daily trading volume to assess liquidity.
- Review the fund's underlying index and holdings to ensure the exposure matches your goals.
This is not financial advice. Always do your own research or consult a licensed financial advisor before investing.
Frequently Asked Questions
What is the difference between MGEG and IALT?
MGEG (Mackenzie Global Equity & Gold Overlay ETF) and IALT (iShares Systematic Alternatives Active ETF) are both Canadian-listed ETFs. Key differences include their AUM ($7M vs $7.81B), dividend yield (N/A vs N/A), and year-to-date performance (-7.35% vs +2.31%).
Is MGEG better than IALT?
There is no single "better" ETF — it depends on your investment goals. If you prioritise dividends, compare both yields and choose based on your income needs. Always review the fund's prospectus and consider your tax situation.
Can I buy MGEG and IALT on Wealthsimple?
Most Canadian-listed ETFs are available on Wealthsimple Trade commission-free. Both MGEG and IALT should be accessible. Check Wealthsimple's supported tickers list to confirm availability.
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