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The Mackenzie Unconstrained Bond ETF (MUB) is one of only nine actively managed fixed income ETFs in Canada with more than $1 billion in assets.
As a multi-sector unconstrained strategy, MUB has the flexibility to actively pursue income opportunities across the market cycle, unrestricted by region, sector or traditional benchmarks.
This reduces concentration risk, providing potential diversification benefits and enhanced risk-adjusted returns.
Our investment universe
Risk management
Managed by the Mackenzie Fixed Income Team, the strategy is built on a foundation of deep macroeconomic research, credit analysis and non-traditional fixed income expertise.
The team has the latitude to express its best ideas across regions and sectors, according to prevailing market conditions.
As an unconstrained strategy, investors benefit from MUB’s ability to navigate interest rate and credit cycles in ways that are unavailable to conventional fixed income strategies.
MUB prioritizes mitigating downside risk, striving to deliver robust risk-adjusted returns with lower volatility throughout a market cycle. This downside protection is achieved through an “always-on” put strategy.
Duration and credit exposure are actively managed, to reduce interest rate and default risks. By mitigating downside risk, the team seeks to outperform the strategy’s peers over the long term.
The result is a diversified fixed income ETF, suitable as a core holding. MUB is well positioned to address three key goals of a portfolio’s fixed income allocation:
- Capital preservation.
- Diversification from equities.
- Income generation.
The Mackenzie Unconstrained Bond strategy is also offered as a mutual fund ($3.1 billion) bringing the strategy’s total AUM to more than $4 billion.
Contact your Sales Representative to learn more about the Mackenzie Unconstrained Bond ETF (MUB) and the Mackenzie Fixed Income Team.
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