A side-by-side comparison of Mackenzie Unconstrained Bond ETF (MUB) and PIMCO Monthly Income ETF (PMIF) to help Canadian investors make an informed decision.
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1-Year Performance
Normalised to 100 at the start — shows relative return over the trailing 12 months.
Head-to-Head Comparison
| Metric | MUB | PMIF |
|---|---|---|
| YTD Return | -1.70%✓ | -2.13% |
| 1-Day Change | +0.17%✓ | -0.17% |
| 1-Week Change | +0.34%✓ | -0.06% |
| 1-Month Change | -0.61% | -1.13%✓ |
| Current Price | $17.88 | $17.92 |
| AUM | $1.15B | $4.82B✓ |
| MER (Expense Ratio) | 0% | 0% |
| Dividend Yield | 4.64% | 5.52%✓ |
| Distribution Frequency | Monthly | Monthly |
| Inception Date | 2016-04-19 | 2017-09-29 |
| Holdings Count | 3 | 2 |
| MorningStar Rating | ★★★ | ★★★★ |
| Category | Multi-Sector Fixed Income | Multi-Sector Fixed Income |
| Beta | 0.48 | 0.54 |
| 52-Week High | $18.15 | $18.15 |
| 52-Week Low | $17.33 | $17.05 |
| 50-Day MA | $17.94 | $18.02 |
| 200-Day MA | $18.18 | $18.25 |
✓ marks the better value for return/yield/AUM metrics. Lower ✓ for MER.
Annualised Returns
| Period | MUB | PMIF |
|---|---|---|
| YTD | -1.70%✓ | -2.13% |
| 1 Year | +2.55% | +5.55%✓ |
| 3 Year | +4.66% | +6.04%✓ |
| 5 Year | +1.67% | +3.05%✓ |
| 10 Year | +2.96% | — |
| 1Y Volatility | 2.56% | 3.01% |
| Sharpe Ratio (3Y) | 0.30 | 0.65 |
Past performance is not a guarantee of future results.
Top 10 Holdings
| 1 | MAAA | Mackenzie AAA CLO ETF | 2.60% |
| 2 | QUIG | Mackenzie US Investment Grade Corporate Bond Index ETF (CAD-Hedged) | 2.22% |
| 3 | MFT | Mackenzie Floating Rate Income ETF | 1.96% |
| 1 | GU5 | Low Sulphur Gas Oil Futures Sept25 | 3.51% |
| 2 | FGBLU25 | Euro Bund Future Sept 25 | 3.18% |
Sector Weights
| Sector | MUB | PMIF |
|---|---|---|
| Basic Materials | 0.00% | 0.00% |
| Communication Services | 0.00% | 0.00% |
| Consumer Cyclicals | 0.00% | 0.00% |
| Consumer Defensive | 0.00% | 0.00% |
| Energy | 0.00% | 0.00% |
| Financial Services | 0.00% | 0.00% |
| Healthcare | 0.00% | 0.00% |
| Industrials | 0.00% | 0.00% |
| Real Estate | 0.00% | 0.00% |
| Technology | 0.00% | 0.00% |
| Utilities | 0.00% | 0.00% |
About MUB
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About PMIF
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Which ETF is Right for You?
Both MUB and PMIF 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, PMIF 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 MUB and PMIF?
MUB (Mackenzie Unconstrained Bond ETF) and PMIF (PIMCO Monthly Income ETF) are both Canadian-listed ETFs. Key differences include their AUM ($1.15B vs $4.82B), dividend yield (4.64% vs 5.52%), and year-to-date performance (-1.70% vs -2.13%).
Is MUB better than PMIF?
There is no single "better" ETF — it depends on your investment goals. If you prioritise recent performance, MUB has outperformed year-to-date. Always review the fund's prospectus and consider your tax situation.
Can I buy MUB and PMIF on Wealthsimple?
Most Canadian-listed ETFs are available on Wealthsimple Trade commission-free. Both MUB and PMIF should be accessible. Check Wealthsimple's supported tickers list to confirm availability.
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