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Compare Manulife Smart Global Bond ETF (GBND) vs Mackenzie Developed ex-North America Aggregate Bond Index ETF (QDXB) to find the best fit for your portfolio. GBND provides Sovereign, Finance, and Municipal exposures, while QDXB is primarily weighted in Sovereign, Finance, and Technology. When evaluating costs, GBND features a management fee (MER) of 0.4%, compared to 0.3% for QDXB. Performance-wise, GBND has returned 1.63% year-to-date with +$5 M in net flows, whereas QDXB is at 2.47% with +$56 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
QDXB
| AuM | $15.34 M | $88.24 M |
| Management Fees | 0.40% | 0.30% |
| Exp. ratio | 0.45% | 0.34% |
| Tracking Difference | - | -0.17% |
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% |
QDXB | +0.95% | -1.73% | -2.47% | -3.42% | +6.03% | |
| Flows | GBND | +$1 M | +$1 M | +$5 M | +$5 M | +$6 M |
QDXB | +$0 M | +$30 M | +$56 M | +$69 M | +$78 M |
GBND vs QDXB exposure
Countries
GBND
Canada
19.49%
USA
18.89%
Japan
9.74%
Germany
8.18%
Other
43.70%
QDXB
France
18.33%
Japan
13.55%
Germany
12.16%
USA
11.37%
United Kingdom
10.42%
Italy
9.26%
Other
24.92%
Sectors
GBND
Sovereign
63.87%
Finance
10.93%
Municipal
7.13%
Other
18.07%
QDXB
Sovereign
73.59%
Finance
15.64%
Other
10.77%
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%
QDXB
France, OAT 3.25% 25feb2032, EUR
5.64%
United Kingdom, Gilt 4.375% 7mar2030, GBP
2.35%
Visa, 2.25% 15may2028, EUR
2.12%
Germany, Bund 2.6% 15may2041, EUR
1.70%
Germany, Bund 4.75% 4jul2028, EUR
1.68%
Japan, JGB 2% 20mar2042, JPY
1.60%
SAP SE, 0.375% 18may2029, EUR
1.57%
United Kingdom, Gilt 3.25% 31jan2033, GBP
1.44%
France, OAT 0% 25nov2030, EUR (4018D)
1.42%
Japan, JGB 1.3% 20sep2030, JPY
1.42%
Diversification
GBND
Total weight of top 10 holdings out of 141 total
33.99%
QDXB
Total weight of top 10 holdings out of 376 total
20.95%
Characteristics
Compare
GBND
QDXB
| Provider | Manulife Investments | Mackenzie Investments |
| Management | Actively managed | Passively managed |
| Benchmark | - | Solactive Ex-North America DM Select Global Aggregate Bond Net Total Return Index - CAD Hedged |
| Replication Method | - | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.50% | 2.26% |
| Meets ESG criteria | No | No |
| Inception Date | May 15, 2023 | September 24, 2020 |
Frequently asked questions about GBND and QDXB
Which ETF has performed better year to date: GBND or QDXB?
As of October 28, 2026, GBND has returned -1.63% year to date, while QDXB has returned -2.47%. GBND is ahead on YTD performance.
Which ETF is larger by assets under management: GBND or QDXB?
As of October 28, 2026, GBND manages $15.34 M in assets, while QDXB manages $88.24 M. QDXB is the larger fund by AUM.
How are GBND and QDXB managed?
GBND is actively managed by Manulife Investments. It does not track an index. QDXB is passively managed by Mackenzie Investments. It tracks the Solactive Ex-North America DM Select Global Aggregate Bond Net Total Return Index - CAD Hedged benchmark.
What sectors do GBND and QDXB emphasize?
GBND is most exposed to Sovereign, Finance, and Municipal. QDXB is most exposed to Sovereign, Finance, and Technology.
Which ETF is attracting more investor flows: GBND or QDXB?
Year to date, GBND has seen +$4.74 M in net flows, compared with +$55.95 M for QDXB. QDXB has attracted more net investor money so far.
How do the fees of GBND and QDXB compare?
GBND has an expense ratio of 0.45%, while QDXB has an expense ratio of 0.34%.
What are the top holdings of GBND and QDXB?
GBND's largest holdings include Canada, Bills 0% 13jan2027, CAD (182D) and Japan, JGB 1.1% 20sep2042, JPY. QDXB's top holdings include France, OAT 3.25% 25feb2032, EUR, United Kingdom, Gilt 4.375% 7mar2030, GBP, and Visa, 2.25% 15may2028, EUR.
Which ETF is more diversified: GBND or QDXB?
GBND holds 115 securities, while QDXB holds 374. On holdings count, QDXB is the more diversified portfolio.
Recent articles about GBND and QDXB
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