VS
Compare Manulife Smart Global Bond ETF (GBND) vs Mackenzie Global Sustainable Bond ETF (MGSB) to find the best fit for your portfolio. GBND and MGSB provide the same top sector exposures: Sovereign, Finance, and Municipal. When evaluating costs, GBND features a management fee (MER) of 0.4%, compared to 0.5% for MGSB. Performance-wise, GBND has returned 1.63% year-to-date with +$5 M in net flows, whereas MGSB is at 1.68% with -$8 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
GBND
MGSB
| AuM | $15.34 M | $179.36 M |
| Management Fees | 0.40% | 0.50% |
| Exp. ratio | 0.45% | 0.55% |
| Tracking Difference | - | - |
Historical performance and flows
As of October 28, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | GBND | +1.29% | -0.97% | -1.63% | -2.85% | +10.61% |
MGSB | +1.37% | -1.23% | -1.68% | -2.51% | +13.14% | |
| Flows | GBND | +$1 M | +$1 M | +$5 M | +$5 M | +$6 M |
MGSB | -$2 M | -$2 M | -$8 M | -$7 M | -$2 M |
GBND vs MGSB exposure
Countries
GBND
Canada
19.49%
USA
18.89%
Japan
9.74%
Germany
8.18%
Other
43.70%
MGSB
USA
25.58%
Canada
21.23%
Germany
11.57%
Japan
7.72%
Other
33.90%
Sectors
GBND
Sovereign
63.87%
Finance
10.93%
Municipal
7.13%
Other
18.07%
MGSB
Sovereign
47.73%
Finance
24.42%
Municipal
8.00%
Other
19.84%
As of October 28, 2026
Top 10 Holdings
GBND
Canada, Bills 0% 13jan2027, CAD (182D)
7.03%
Japan, JGB 1.1% 20sep2042, JPY
4.67%
Canada, Bills 0% 21oct2026, CAD (182D)
3.96%
Germany, Bund 2.2% 15feb2034, EUR
3.51%
Japan, JGB 0.8% 20mar2034, JPY
2.98%
Austria, AGB 2.9% 23may2029, EUR
2.97%
France, OAT 0.75% 25feb2028, EUR
2.42%
USA, Notes 4.625% 15feb2035, USD (B-2035)
2.23%
USA, Bonds 4.875% 15aug2045, USD
2.13%
Italy, BTP 2.1% 26aug2027, EUR
2.09%
MGSB
Germany, Bund 2.5% 15feb2035, EUR
10.32%
Australia, TB 5% 21jun2036, AUD
6.63%
Province of Ontario, 1.85% 1feb2027, CAD (DMTN244)
5.07%
IFC, 10.75% 15feb2028, BRL (2561)
3.90%
IBRD, 0% 31mar2027, USD (1826D)
3.62%
Inter-American Development Bank (IDB), 4.375% 17jul2034, USD
3.54%
Spain, OBL 1% 30jul2042, EUR
3.11%
United Kingdom, Gilt 0.875% 31jul2033, GBP
3.06%
Japan, JGB 2.1% 20dec2035, JPY
3.05%
Canada, Bonds 3.245% 24aug2027, CAD
3.04%
Diversification
GBND
Total weight of top 10 holdings out of 141 total
33.99%
MGSB
Total weight of top 10 holdings out of 72 total
45.34%
Characteristics
Compare
GBND
MGSB
| Provider | Manulife Investments | Mackenzie Investments |
| Management | Actively managed | Actively managed |
| Benchmark | - | - |
| Replication Method | - | - |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.50% | 3.07% |
| Meets ESG criteria | No | Yes |
| Inception Date | May 15, 2023 | September 23, 2021 |
Frequently asked questions about GBND and MGSB
Which ETF has performed better year to date: GBND or MGSB?
As of October 28, 2026, GBND has returned -1.63% year to date, while MGSB has returned -1.68%. GBND is ahead on YTD performance.
Which ETF is larger by assets under management: GBND or MGSB?
As of October 28, 2026, GBND manages $15.34 M in assets, while MGSB manages $179.36 M. MGSB is the larger fund by AUM.
How are GBND and MGSB managed?
GBND is actively managed by Manulife Investments. It does not track an index. MGSB is actively managed by Mackenzie Investments. It does not track an index.
What sectors do GBND and MGSB emphasize?
GBND is most exposed to Sovereign, Finance, and Municipal. MGSB is most exposed to Sovereign, Finance, and Municipal.
Which ETF is attracting more investor flows: GBND or MGSB?
Year to date, GBND has seen +$4.74 M in net flows, compared with -$8.31 M for MGSB. GBND has attracted more net investor money so far.
How do the fees of GBND and MGSB compare?
GBND has an expense ratio of 0.45%, while MGSB has an expense ratio of 0.55%.
What are the top holdings of GBND and MGSB?
GBND's largest holdings include Canada, Bills 0% 13jan2027, CAD (182D) and Japan, JGB 1.1% 20sep2042, JPY. MGSB's top holdings include Germany, Bund 2.5% 15feb2035, EUR, Australia, TB 5% 21jun2036, AUD, and Province of Ontario, 1.85% 1feb2027, CAD (DMTN244).
Which ETF is more diversified: GBND or MGSB?
GBND holds 115 securities, while MGSB holds 72. On holdings count, GBND is the more diversified portfolio.
Recent articles about GBND and MGSB
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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.