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iShares 1-5 Year Laddered Corporate Bond Index ETF (CBO) and Mackenzie Canadian Ultra Short Bond Index ETF (QASH) offer distinct profiles for Canadian ETF investors. A direct comparison shows that CBO focuses its top 3 sector exposures on Finance, Industrials, and Utilities, while QASH leans towards Finance, Municipal, and Energy. When evaluating costs, CBO features a management fee (MER) of 0.25%, compared to 0.15% for QASH. Performance-wise, CBO has returned 0.92% year-to-date with +$170 M in net flows, whereas QASH is at 1.63% with -$15 M. Use the comparison tool below to benchmark these funds across top 10 holdings, yield, sector weights and historical returns.
NAV Performance and Flows
Key Data
Compare
CBO
QASH
| AuM | $941.79 M | $135.81 M |
| Management Fees | 0.25% | 0.15% |
| Exp. ratio | 0.27% | 0.17% |
| Tracking Difference | - | 0.00% |
Historical performance and flows
As of September 1, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | CBO | -0.50% | -0.20% | +0.92% | +2.34% | +17.55% |
QASH | +0.23% | +0.62% | +1.63% | +2.63% | - | |
| Flows | CBO | +$15 M | +$37 M | +$170 M | +$179 M | +$168 M |
QASH | -$10 M | -$5 M | -$15 M | +$7 M | - |
CBO vs QASH exposure
Countries
CBO
Canada
91.36%
USA
8.39%
QASH
Canada
90.18%
USA
9.82%
Sectors
CBO
Finance
58.12%
Industrials
13.82%
Utilities
12.83%
Other
15.23%
QASH
Finance
58.46%
Municipal
36.75%
As of September 1, 2026
Top 10 Holdings
CBO
Toronto-Dominion Bank, 4.133% 9jan2033, CAD
3.89%
Pacific Life Global Funding II, 4.195% 29jul2032, CAD (2025-8)
1.72%
New York Life Global Funding, 4% 17jun2032, CAD (2025-8)
1.72%
Coastal Gaslink Pipeline LP, 4.907% 30jun2031, CAD (C)
1.39%
Massmutual Global Funding II, 4.127% 15jul2032, CAD (2025-5)
1.29%
Greater Toronto Airports Authority, 7.1% 4jun2031, CAD (2001-1)
1.29%
ProLogis LP, 3.6% 15feb2032, CAD
1.27%
Hydro One Inc, 1.69% 16jan2031, CAD (49)
1.09%
Toronto-Dominion Bank, 3.605% 10sep2031, CAD
1.07%
Sun Life Financial, 2.06% 1oct2035, CAD (2020-2)
1.07%
QASH
Montreal, 2.75% 1sep2026, CAD
24.51%
Toronto, 2.4% 7jun2027, CAD
12.24%
OPB Finance Trust, 2.98% 25jan2027, CAD (F)
9.16%
Bank of America Corporation, 1.978% 15sep2027, CAD (N)
4.73%
Morgan Stanley, 1.779% 4aug2027, CAD (I)
4.20%
Bank of Montreal, 4.309% 1jun2027, CAD
3.04%
Bank of Nova Scotia, 3.934% 3may2032, CAD
3.03%
CIBC, 4.2% 7apr2032, CAD
2.94%
Royal Bank of Canada, 2.94% 3may2032, CAD (25)
2.91%
Toronto-Dominion Bank, 2.26% 7jan2027, CAD
2.85%
Diversification
CBO
Total weight of top 10 holdings out of 454 total
15.79%
QASH
Total weight of top 10 holdings out of 43 total
69.60%
Characteristics
Compare
CBO
QASH
| Provider | iShares | Mackenzie Investments |
| Management | Passively managed | Passively managed |
| Benchmark | FTSE Canada 1-5 Year Laddered Corporate Bond TR Index - CAD | Solactive Canadian Ultra Short Bond GTR Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 3.53% | 3.75% |
| Meets ESG criteria | No | No |
| Inception Date | February 25, 2009 | November 20, 2023 |
Frequently asked questions about CBO and QASH
Which ETF has performed better year to date: CBO or QASH?
As of September 1, 2026, CBO has returned 0.92% year to date, while QASH has returned 1.63%. QASH is ahead on YTD performance.
Which ETF is larger by assets under management: CBO or QASH?
As of September 1, 2026, CBO manages $941.79 M in assets, while QASH manages $135.81 M. CBO is the larger fund by AUM.
How are CBO and QASH managed?
CBO is passively managed by iShares. It tracks the FTSE Canada 1-5 Year Laddered Corporate Bond TR Index - CAD benchmark. QASH is passively managed by Mackenzie Investments. It tracks the Solactive Canadian Ultra Short Bond GTR Index - CAD benchmark.
What sectors do CBO and QASH emphasize?
CBO is most exposed to Finance, Industrials, and Utilities. QASH is most exposed to Finance, Municipal, and Energy.
Which ETF is attracting more investor flows: CBO or QASH?
Year to date, CBO has seen +$169.52 M in net flows, compared with -$15.03 M for QASH. CBO has attracted more net investor money so far.
How do the fees of CBO and QASH compare?
CBO has an expense ratio of 0.27%, while QASH has an expense ratio of 0.17%.
What are the top holdings of CBO and QASH?
CBO's largest holdings include Toronto-Dominion Bank, 4.133% 9jan2033, CAD, Pacific Life Global Funding II, 4.195% 29jul2032, CAD (2025-8), and New York Life Global Funding, 4% 17jun2032, CAD (2025-8). QASH's top holdings include Montreal, 2.75% 1sep2026, CAD, Toronto, 2.4% 7jun2027, CAD, and OPB Finance Trust, 2.98% 25jan2027, CAD (F).
Which ETF is more diversified: CBO or QASH?
CBO holds 454 securities, while QASH holds 43. On holdings count, CBO is the more diversified portfolio.
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All content on the ETF Market Canada is for your general information use only, Cboe is not responsible for any use of content by you outside this scope. In particular, the content does not constitute any form of advice, recommendation, representation, endorsement or arrangement by Cboe and is not intended to be relied upon by users in making (or refraining from making) any specific investment or other decisions.