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Purpose Global Flexible Credit Fund (FLX) and Mackenzie U.S. Aggregate Bond Index ETF (QUB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that FLX focuses its top 3 sector exposures on Industrials, Energy, and Finance, while QUB leans towards Sovereign, Finance, and Technology. When evaluating costs, FLX features a management fee (MER) of 0.85%, compared to 0.15% for QUB. Performance-wise, FLX has returned 0.25% year-to-date with -$1 M in net flows, whereas QUB is at 2.22% with +$30 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
FLX
QUB
| AuM | $16.74 M | $123.17 M |
| Management Fees | 0.85% | 0.15% |
| Exp. ratio | 1.29% | 0.17% |
| Tracking Difference | - | -0.03% |
Historical performance and flows
As of September 2, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | FLX | -0.98% | -0.69% | +0.25% | +1.56% | +24.08% |
QUB | -0.94% | -1.81% | -2.22% | -0.63% | +7.70% | |
| Flows | FLX | -$1 M | -$1 M | -$1 M | -$1 M | -$10 M |
QUB | +$41 M | +$27 M | +$30 M | +$55 M | +$97 M |
FLX vs QUB exposure
Countries
FLX
USA
43.53%
Other
30.04%
Other
26.43%
QUB
USA
77.14%
Other
11.84%
Canada
7.17%
Sectors
FLX
Other
30.04%
Industrials
11.07%
Energy
8.88%
Finance
8.45%
Utilities
7.35%
Other
34.21%
QUB
Sovereign
41.16%
Finance
25.40%
Other
11.84%
Other
21.61%
As of September 2, 2026
Top 10 Holdings
FLX
Pacific Gas & Electric, 6.75% 15jan2053, USD
2.24%
USG67837AQ00
2.22%
USG6782BAC30
2.19%
Angola, 9.375% 8may2048, USD
1.38%
Oracle, 5.55% 6feb2053, USD
1.33%
JSW Steel, 5.05% 5apr2032, USD
1.29%
Electricite de France (EDF), 5.875% perp., GBP (25)
1.18%
Elia, 5.85% perp., EUR
1.05%
Diamondback Energy, 3.5% 1dec2029, USD
1.02%
Galaxy Helios Data Center II, 9.875% 1aug2031, USD
0.93%
QUB
USA, Notes 3.75% 31dec2030, USD (T-2030)
5.01%
USA, Notes 4.5% 15nov2033, USD (F-2033)
3.92%
USA, Notes 1.25% 31may2028, USD (L-2028)
3.79%
Massmutual Global Funding II, 4.95% 10jan2030, USD (2025-1)
2.55%
Ontario Teachers Pension Plan (OTPP), 2% 16apr2031, USD (1)
2.28%
USA, Notes 0.625% 15aug2030, USD (E-2030)
2.25%
US3622ABM667
2.24%
USA, Bonds 6.125% 15nov2027, USD
1.91%
USA, Notes 4.375% 15may2036, USD (C-2036)
1.88%
USA, Notes 3.875% 31dec2027, USD (AH-2027)
1.87%
Diversification
FLX
Total weight of top 10 holdings out of 311 total
14.83%
QUB
Total weight of top 10 holdings out of 555 total
27.69%
Characteristics
Compare
FLX
QUB
| Provider | Purpose Investments | Mackenzie Investments |
| Management | Actively managed | Passively managed |
| Benchmark | - | Solactive US Aggregate Bond Index - CAD Hedged |
| Replication Method | Direct (Physical) | |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 7.51% | 3.31% |
| Meets ESG criteria | No | No |
| Inception Date | June 17, 2011 | September 24, 2020 |
Frequently asked questions about FLX and QUB
Which ETF has performed better year to date: FLX or QUB?
As of September 2, 2026, FLX has returned 0.25% year to date, while QUB has returned -2.22%. FLX is ahead on YTD performance.
Which ETF is larger by assets under management: FLX or QUB?
As of September 2, 2026, FLX manages $16.74 M in assets, while QUB manages $123.17 M. QUB is the larger fund by AUM.
How are FLX and QUB managed?
FLX is actively managed by Purpose Investments. It does not track an index. QUB is passively managed by Mackenzie Investments. It tracks the Solactive US Aggregate Bond Index - CAD Hedged benchmark.
What sectors do FLX and QUB emphasize?
FLX is most exposed to Industrials, Energy, and Finance. QUB is most exposed to Sovereign, Finance, and Technology.
Which ETF is attracting more investor flows: FLX or QUB?
Year to date, FLX has seen -$0.86 M in net flows, compared with +$30.12 M for QUB. QUB has attracted more net investor money so far.
How do the fees of FLX and QUB compare?
FLX has an expense ratio of 1.29%, while QUB has an expense ratio of 0.17%.
What are the top holdings of FLX and QUB?
FLX's largest holdings include Pacific Gas & Electric, 6.75% 15jan2053, USD and Angola, 9.375% 8may2048, USD. QUB's top holdings include USA, Notes 3.75% 31dec2030, USD (T-2030) and USA, Notes 4.5% 15nov2033, USD (F-2033).
Which ETF is more diversified: FLX or QUB?
FLX holds 280 securities, while QUB holds 518. On holdings count, QUB is the more diversified portfolio.
Recent articles about FLX and QUB
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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.