Mackenzie Maximum Diversification US Index Fund

Why invest in this fund?

Seeks to increase diversification to reduce biases and enhance risk adjusted returns
Enhances diversification in a US market that historically has a cycle of risk concentrations
A proven, award-winning diversification methodology exclusively available through Mackenzie Mutual Funds and ETFs to all retail investors in Canada

Formerly known as Mackenzie High Diversification US Equity Fund

Key Facts

Performance

Portfolio

Sustainability Characteristics

Codes & Fees

Historical Data

Resources

Fund Materials

Fund Profile - Mackenzie Maximum Diversification US Index Fund pdf 524KB
Fund Profile - Mackenzie Maximum Diversification US Index Fund Series F pdf 523KB
White Paper – Risk concentrations in US equity Markets pdf 357KB

Regulatory Documents

Other US Equity

Index Provider

TOBAM

Mackenzie Maximum Diversification Index mutual funds are based on TOBAM Maximum Diversification Index Series created by TOBAM S.A.S.

TOBAM is a Paris-based index provider and institutional asset manager.

TOBAM Maximum Diversification US Index data © 2020, TOBAM S.A.S. All rights reserved. “TOBAM” and “Diversification Ratio” are registered trademarks and service marks of TOBAM S.A.S. or its affiliates (“TOBAM”) and are used under license for certain purposes by Mackenzie Financial Corporation. Reproduction of the TOBAM data and information in any form is prohibited except with the prior written permission of TOBAM S.A.S. Mackenzie Maximum Diversification mutual funds are not sponsored, endorsed, sold or promoted by TOBAM and TOBAM makes no representation regarding the advisability of investing in such fund. TOBAM does not guarantee the accuracy or completeness of any data and information and is not responsible for any error or omission or for the results obtained from the use of such data and information. TOBAM GIVES NO EXPRESS OR IMPLIED WARRANTY, INCLUDING, ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.

Solactive AG is the third-party calculation agent of the TOBAM Maximum Diversification Index Series and received compensation in that capacity. Solactive AG does not sponsor, endorse, sell, or promote any investment vehicle that is offered by any third party that seeks to provide an investment return based on the performance of any index. It is not possible to invest directly in an index.

The TOBAM Maximum Diversification USA Index is designed to measure the performance of U.S. large and mid capitalization equity securities selected and weighted to enhance diversification. Index inception date: February 28, 2019.

#This series pays a monthly annual fixed rate distribution.

Fund Risk Measures:

Annualized Standard Deviation: A measure of how widely returns varied over a period. A lower standard deviation means the returns of the fund have historically been less volatile and vice-versa. Standard deviation is a measure of historical risk; future risk may be different.
Annualized Standard Deviation Benchmark: A measure of how widely returns varied over a period. A lower standard deviation means the returns of the benchmark have historically been less volatile, and vice-versa.
Alpha: A measure of the difference between a portfolio's actual return and its expected return given its level of risk. Risk is measured by beta. A positive number indicates that it has performed better than beta would predict.
Beta: A measure of the tendency of the value of the fund and the value of the benchmark to move together. The market has a beta of 1. If beta of a fund is higher than 1, the movement in value compared to the benchmark tends to be amplified. A beta less than 1 means the movement in value tends to be dampened.
R²: A measure that represents the percentage of a fund's movements that can be attributed to movements of a benchmark index.
Sharpe Ratio: A measure of how much of a fund's excess return is achieved for a certain level of risk. The greater a fund's Sharpe Ratio, the higher the risk-adjusted returns.

Commissions, trailing commissions, management fees, brokerage fees and expenses may be associated with investment funds. Please read the prospectus before investing. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and does not take into account sales, redemption, distribution, or optional charges or income taxes payable by any security holder that would have reduced returns. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

For changes in the business, operations or affairs of an investment fund, and reorganization or acquisition of assets in an investment fund during the most recent 10 years that could have materially affected the performance of the investment fund, please refer to the "Major Changes During the Last 10 Years” section in the most recent Annual Information Form.

Mutual Fund US Dollar Settlement Option details.

Index performance does not include the impact of fees, commissions, and expenses that would be payable by investors in the investment products that seek to track an index.

The rate of return is used only to illustrate the effects of the compound growth rate and is not intended to reflect future values of the investment fund or asset allocation service or returns on investment in the investment fund or from the use of the asset allocation service.

* The S&P 500 Index is a market capitalization weighted index of 500 widely held securities, designed to measure broad U.S. equity performance.

†The major holdings of the Fund may, but do not necessarily, represent the largest holdings of the Fund. Rather, the major holdings are selected for their overall significance in evaluating the investment portfolio. Please see mackenzieinvestments.com/currency to view the funds/products using currency derivatives to hedge exchange risk.

‡‡ Effective June 1, 2022, the redemption charge purchase option, and the low-load purchase option are no longer available for purchase, including those made through systematic purchase plans such as pre-authorized contribution plans. Switching from securities of a Mackenzie Fund previously purchased under the redemption charge or low-load purchase options to securities of another Mackenzie Fund, under the same purchase option, will continue to be available until such redemption schedules expire.

ESG Metric Definition

* - The MSCI ESG Rating for funds is designed to measure the resiliency of portfolios to long-term ESG risks and opportunities. The most highly rated funds consist of issuers with leading or improving management of key ESG risks. The ESG Ratings range from leader (AAA, AA), average (A, BBB, BB) to laggard (B, CCC).

The Weighted Average Carbon Intensity measures a fund's exposure to carbon intensive companies based on scope 1 and 2 emissions.
The percentage of fund's market values exposed to companies that generate revenue from sustainable impact solutions goods and services. Additionally, sustainable impact solutions revenue from companies with negative externalities are excluded.
The fund holdings weighted average of the percentage of board members who are women.
The percentage of portfolio's market value exposed to companies facing one or more Very Severe controversies related to the environment, customers, human rights, labor rights and governance.
The percentage of portfolio's market value exposed to companies involved in tobacco. This includes companies that derive more than 10% of revenue from tobacco.
The percentage of portfolio's market value exposed to companies with ties to cluster munitions, landmines, biological / chemical weapons, depleted uranium weapons, blinding laser weapons, incendiary weapons, and/or non-detectable fragments.
The percentage of portfolio's market value exposed to companies involved in gambling. This includes companies that derive more than 10% of revenue from gambling activities.
The percentage of portfolio's market value exposed to companies involved in adult entertainment. This includes companies that generate more than 10% of their revenue from adult entertainment activities.

Each Fund’s ESG characteristics and performance may differ from time to time. Each Fund’s MSCI ESG rating and Morningstar Sustainability Rating does not evaluate the ESG-related investment objectives of, or any ESG strategies used by, the Funds and is not indicative of how well ESG factors are integrated by the Fund. Other providers may also prepare fund-level ESG ratings using their own methodologies, which may differ from the methodologies used by Morningstar or MSCI as applicable. Please refer to the simplified prospectus for the Funds for further information about each Fund’s investment objectives and strategies

MSCI’s ESG Fund Ratings are meant to measure environmental, social and governance (ESG) characteristics of a fund’s constituents. MSCI uses a rating system, ranging from CCC (laggard) to AAA (leader), which considers individual holding scores, ESG momentum and ESG tail risk. The rating is determined based on a weighted average of the company-level ratings of the underlying holdings of the particular fund. These ratings are updated monthly. Under MSCI’s ESG Fund Ratings methodology, a portfolio must meet an eligibility criterion of at least 65% of assets under management covered to have a public rating. See the complete methodology here.

The Morningstar Sustainability Rating is a measure of how well a portfolio, and its holdings, are performing through an ESG issues lens in comparison to its peer group. Higher number of globes indicates that portfolio has lower ESG risks. The rating is determined based on a weighted average of the company-level ratings of the underlying holdings of the particular fund. Ratings are as follows: High = 5 globes, Above Average = 4 globes, Average = 3 globes, Below Average = 2 globes, Low = 1 globe. These ratings are updated monthly. We have reported ratings as of the beginning of January. Under Morningstar’s Sustainability Rating, a portfolio must have at least 67% of assets under management covered to have a public rating. See the complete methodology here.

Weighted Average Carbon Intensity (WACI), a carbon-intensity metric, measures a fund’s exposure to carbon-intensive companies expressed in tonnes of carbon dioxide equivalent (tCO2e) per million dollars US of revenue (USDM). This metric acts as a comparable between the fund and the benchmark, utilizing MSCI’s ESG Fund Ratings methodology Scope 1 and Scope 2 greenhouse gas emissions data. Under our internal methodology, at least 65% of a portfolio’s weight must be eligible and covered in order for the metric to be reported.

Board diversity (women) is demonstrated through company filings; depicted as the percentage of women on a company’s Board of Directors. Company filing is done on an annual basis. Under our internal methodology, at least 65% of a portfolio’s weight must be eligible and covered in order for the metric to be reported.

MSCI ESG Research LLC’s (“MSCI ESG”) Fund Metrics products (the “Information”) provide environmental, social and governance data with respect to underlying securities within more than 23,000 multi-asset class Mutual Funds and ETFs globally. MSCI ESG is a Registered Investment Adviser under the Investment Advisers Act of 1940. MSCI ESG materials have not been submitted to, nor received approval from, the US SEC or any other regulatory body. None of the Information constitutes an offer to buy or sell, or a promotion or recommendation of, any security, financial instrument or product or trading strategy, nor should it be taken as an indication or guarantee of any future performance, analysis, forecast or prediction. None of the Information can be used to determine which securities to buy or sell or when to buy or sell them. The Information is provided “as is” and the user of the Information assumes the entire risk of any use it may make or permit to be made of the Information.

© 2023 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results