A side-by-side comparison of Mackenzie Growth Allocation ETF (MGRW) and Vanguard Growth Portfolio (VGRO) 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 | VGRO |
|---|---|---|
| YTD Return | +10.07%✓ | +9.85% |
| 1-Day Change | -0.27% | -0.23%✓ |
| 1-Week Change | +1.16% | +1.17%✓ |
| 1-Month Change | -0.49% | -1.48%✓ |
| Current Price | $36.72 | $47.39 |
| AUM | $90M | $11.08B✓ |
| MER (Expense Ratio) | — | — |
| Dividend Yield | 1.78% | 1.81%✓ |
| Distribution Frequency | Quarterly | Quarterly |
| Inception Date | 2020-09-29 | 2018-01-25 |
| Holdings Count | 8 | 7 |
| MorningStar Rating | — | — |
| Category | Growth Allocation | Growth Allocation |
| Beta | 1.06 | 1.09 |
| 52-Week High | $37.67 | $48.35 |
| 52-Week Low | $31.86 | $41.15 |
| 50-Day MA | $36.82 | $47.57 |
| 200-Day MA | $35.68 | $46.18 |
✓ marks the better value for return/yield/AUM metrics. Lower ✓ for MER.
Annualised Returns
| Period | MGRW | VGRO |
|---|---|---|
| YTD | +10.07%✓ | +9.85% |
| 1 Year | +13.99%✓ | +12.46% |
| 3 Year | +18.56% | +19.01%✓ |
| 5 Year | +10.29% | +10.56%✓ |
| 10 Year | +0.00% | +0.00% |
| 1Y Volatility | 8.66% | 8.56% |
| Sharpe Ratio (3Y) | 1.98 | 1.79 |
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 | VUN | Vanguard US Total Market | 35.87% |
| 2 | VCN | Vanguard FTSE Canada All Cap | 23.51% |
| 3 | VIU | Vanguard FTSE Developed All Cap ex North Amer Idx ETF | 15.01% |
| 4 | VAB | Vanguard Canadian Aggregate Bond | 11.54% |
| 5 | VEE | Vanguard FTSE Emerging Markets All Cap Index ETF | 5.59% |
| 6 | VBG | Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged) (VBG.NE) | 3.79% |
| 7 | VBU | Vanguard U.S. Aggregate Bond Index ETF | 3.52% |
Sector Weights
| Sector | MGRW | VGRO |
|---|---|---|
| Basic Materials | 7.13% | 8.15% |
| Communication Services | 5.66% | 5.25% |
| Consumer Cyclicals | 6.72% | 7.15% |
| Consumer Defensive | 4.48% | 4.10% |
| Energy | 8.71% | 7.85% |
| Financial Services | 21.61% | 22.48% |
| Healthcare | 7.30% | 6.64% |
| Industrials | 10.76% | 10.90% |
| Real Estate | 1.56% | 2.01% |
| Technology | 23.92% | 23.70% |
| Utilities | 2.38% | 2.34% |
About MGRW
NA
About VGRO
Seeks to achieve its investment objective by primarily investing in equity and fixed income securities. It may do so either directly or indirectly through investment in one or more exchange traded funds managed by the manager or an affiliate or certain other investment funds.
Which ETF is Right for You?
Both MGRW and VGRO 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, VGRO 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 VGRO?
MGRW (Mackenzie Growth Allocation ETF) and VGRO (Vanguard Growth Portfolio) are both Canadian-listed ETFs. Key differences include their AUM ($90M vs $11.08B), dividend yield (1.78% vs 1.81%), and year-to-date performance (+10.07% vs +9.85%).
Is MGRW better than VGRO?
There is no single "better" ETF — it depends on your investment goals. If you prioritise recent performance, MGRW has outperformed year-to-date. Always review the fund's prospectus and consider your tax situation.
Can I buy MGRW and VGRO on Wealthsimple?
Most Canadian-listed ETFs are available on Wealthsimple Trade commission-free. Both MGRW and VGRO should be accessible. Check Wealthsimple's supported tickers list to confirm availability.
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