A side-by-side comparison of Mackenzie Growth Allocation ETF (MGRW) and iShares Canadian Financial Monthly Income Common Class (FIE) 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 | MGRW | FIE |
|---|---|---|
| YTD Return | +10.07% | +13.61%✓ |
| 1-Day Change | -0.27% | +0.09%✓ |
| 1-Week Change | +1.16%✓ | +0.93% |
| 1-Month Change | -0.49% | +4.03%✓ |
| Current Price | $36.72 | $11.35 |
| AUM | $90M | $1.39B✓ |
| MER (Expense Ratio) | — | — |
| Dividend Yield | 1.78% | 4.30%✓ |
| Distribution Frequency | Quarterly | Monthly |
| Inception Date | 2020-09-29 | 2010-04-16 |
| Holdings Count | 8 | 10 |
| MorningStar Rating | — | — |
| Category | Growth Allocation | Growth Allocation |
| Beta | 1.06 | 1.06 |
| 52-Week High | $37.67 | $11.50 |
| 52-Week Low | $31.86 | $9.02 |
| 50-Day MA | $36.82 | $11.14 |
| 200-Day MA | $35.68 | $10.71 |
✓ marks the better value for return/yield/AUM metrics. Lower ✓ for MER.
Annualised Returns
| Period | MGRW | FIE |
|---|---|---|
| YTD | +10.07% | +13.61%✓ |
| 1 Year | +13.99% | +25.11%✓ |
| 3 Year | +18.56% | +29.46%✓ |
| 5 Year | +10.29% | +12.78%✓ |
| 10 Year | +0.00% | +12.84%✓ |
| 1Y Volatility | 8.66% | 12.27% |
| Sharpe Ratio (3Y) | 1.98 | 2.40 |
Past performance is not a guarantee of future results.
Top 10 Holdings
| 1 | QUU | Mackenzie US Large Cap Equity Index ETF | 34.91% |
| 2 | QCN | Mackenzie Canadian Equity Index ETF | 24.75% |
| 3 | QDX | Mackenzie International Equity Index ETF | 15.15% |
| 4 | QBB | Mackenzie Canadian Aggregate Bond Index ETF | 10.76% |
| 5 | QEE | Mackenzie Emerging Markets Equity Index ETF | 5.35% |
| 6 | QUB | Mackenzie U.S. Aggregate Bond Index ETF (CAD-Hedged) | 4.13% |
| 7 | QDXB | Mackenzie Developed ex-North America Aggregate Bond Index ETF (CAD-Hedged) | 2.89% |
| 8 | QEBL | Mackenzie Emerging Markets Local Currency Bond Index ETF | 0.39% |
| 1 | CPD | iShares S&P/TSX Canadian Preferred Share Index ETF Common Class | 20.12% |
| 2 | XCB | iShares Core Canadian Corporate Bond Index ETF | 9.69% |
| 3 | CM | Canadian Imperial Bank Of Commerce | 8.16% |
| 4 | RY | Royal Bank of Canada | 8.38% |
| 5 | TD | Toronto Dominion Bank | 7.71% |
| 6 | MFC | Manulife Financial Corp | 7.47% |
| 7 | BMO | Bank of Montreal | 6.54% |
| 8 | NA | National Bank of Canada | 6.10% |
| 9 | POW | Power Corporation Of Canada | 4.17% |
| 10 | GWO | Great-West Lifeco Inc. | 3.61% |
Sector Weights
| Sector | MGRW | FIE |
|---|---|---|
| Basic Materials | 7.13% | 0.00% |
| Communication Services | 5.66% | 0.00% |
| Consumer Cyclicals | 6.72% | 0.00% |
| Consumer Defensive | 4.48% | 0.00% |
| Energy | 8.71% | 0.00% |
| Financial Services | 21.61% | 95.38% |
| Healthcare | 7.30% | 0.00% |
| Industrials | 10.76% | 0.00% |
| Real Estate | 1.56% | 3.88% |
| Technology | 23.92% | 0.00% |
| Utilities | 2.38% | 0.00% |
About MGRW
NA
About FIE
iShares Canadian Financial Monthly Income Common Class (FIE.TO) is a Canadian-listed ETF traded on the Toronto Stock Exchange. More detailed information will be available soon.
Which ETF is Right for You?
Both MGRW and FIE 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, FIE 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 MGRW and FIE?
MGRW (Mackenzie Growth Allocation ETF) and FIE (iShares Canadian Financial Monthly Income Common Class) are both Canadian-listed ETFs. Key differences include their AUM ($90M vs $1.39B), dividend yield (1.78% vs 4.30%), and year-to-date performance (+10.07% vs +13.61%).
Is MGRW better than FIE?
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 MGRW and FIE on Wealthsimple?
Most Canadian-listed ETFs are available on Wealthsimple Trade commission-free. Both MGRW and FIE should be accessible. Check Wealthsimple's supported tickers list to confirm availability.
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