Cash reserves set two Mackenzie Ivy global funds apart

Unlike the mutual fund, the ETF is nearly fully invested.

Diana Cawfield 22 March, 2018 | 5:00PM

Mackenzie Ivy Foreign Equity, a mutual fund, and the much newer Mackenzie Ivy Global Equity (MIVG), an exchange-traded fund, have many similarities. They're managed by the same team of portfolio managers. The investment strategy and stock-selection process are the same. So are most of the holdings.

But the $4.4-billion mutual fund that dates back to October 1992, and its tiny $3.1-million ETF counterpart launched in November, are far from identical twins. And it's not just because of the vast differences in their size and inception dates.

In terms of their risk-return profiles, what sets the two funds apart the most from each another is the large disparities in their cash positions. The mutual fund has ample cash reserves, while the ETF is almost fully invested.

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Securities Mentioned in Article

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About Author

Diana Cawfield

Diana Cawfield  Diana Cawfield is an award-winning writer who has been a regular Morningstar contributor since 2000. Her numerous publication credits include the Toronto StarAdvisor's Edge and Chatelaine, as well as the Canadian Securities Institute's online educational services.

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