VS
Global X Active Ultra-Short Term Investment Grade Bond ETF (HFR) and iShares Canadian Universe Bond Index ETF (XBB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that HFR focuses its top 3 sector exposures on Finance, Energy, and Telecommunications, while XBB leans towards Sovereign, Municipal, and Finance. When evaluating costs, HFR features a management fee (MER) of 0.47%, compared to 0.09% for XBB. Performance-wise, HFR has returned 2.1% year-to-date with +$204 M in net flows, whereas XBB is at 1.21% with +$2 B. 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
HFR
XBB
| AuM | $713.34 M | $11,020.92 M |
| Management Fees | 0.47% | 0.09% |
| Exp. ratio | 0.49% | 0.10% |
| Tracking Difference | - | - |
Historical performance and flows
As of November 11, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | HFR | +0.16% | +0.50% | +2.10% | +2.47% | +13.50% |
XBB | +1.18% | +0.89% | +1.21% | +0.35% | +14.58% | |
| Flows | HFR | +$7 M | +$64 M | +$204 M | +$217 M | +$293 M |
XBB | -$19 M | +$949 M | +$2,085 M | +$2,441 M | +$4,471 M |
HFR vs XBB exposure
Countries
HFR
Canada
88.03%
Other
8.09%
XBB
Canada
95.50%
Sectors
HFR
Finance
67.98%
Energy
8.59%
Other
8.09%
Other
15.34%
XBB
Sovereign
33.30%
Municipal
28.35%
Finance
13.96%
Government Agencies
7.14%
Other
17.25%
As of November 11, 2026
Top 10 Holdings
HFR
Federation des caisses Desjardins du Quebec, 5.035% 23aug2032, CAD
2.22%
TransCanada PipeLines, 3.8% 5apr2027, CAD
1.70%
Bank of Montreal, 4.976% 3jul2034, CAD (M)
1.63%
Toronto-Dominion Bank, 4.68% 8jan2029, CAD
1.43%
Rogers Communications, 3.65% 31mar2027, CAD
1.39%
Royal Bank of Canada, 3.831% 27mar2030, CAD
1.29%
Bank of Nova Scotia, 3.575% 1may2030, CAD
1.16%
Manulife Financial Corporation, 5.409% 10mar2033, CAD
1.02%
Toronto-Dominion Bank, 5.491% 8sep2028, CAD
0.99%
CIBC, 5.33% 20jan2033, CAD
0.97%
XBB
Canada, Bonds 2.75% 1mar2031, CAD
1.50%
Canada, Bonds 2.75% 1sep2030, CAD
1.50%
Canada, Bonds 3.25% 1dec2035, CAD
1.48%
Canada, Bonds 3% 1sep2031, CAD
1.45%
Canada, Bonds 3.25% 1jun2036, CAD
1.44%
Canada, Bonds 3.25% 1jun2035, CAD
1.38%
Canada, Bonds 3% 1jun2034, CAD
1.20%
Canada, Bonds 2.75% 1mar2030, CAD
1.19%
Canada, Bonds 3.5% 1dec2057, CAD
1.13%
Canada, Bonds 3.5% 1sep2029, CAD
1.11%
Diversification
HFR
Total weight of top 10 holdings out of 293 total
13.80%
XBB
Total weight of top 10 holdings out of 1,921 total
13.38%
Characteristics
Compare
HFR
XBB
| Provider | Global X | iShares |
| Management | Actively managed | Passively managed |
| Benchmark | - | FTSE Canada Universe Bond TR Index - CAD |
| Replication Method | - | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 3.44% | 3.50% |
| Meets ESG criteria | No | No |
| Inception Date | December 8, 2010 | November 20, 2000 |
Frequently asked questions about HFR and XBB
Which ETF has performed better year to date: HFR or XBB?
As of November 11, 2026, HFR has returned 2.10% year to date, while XBB has returned 1.21%. HFR is ahead on YTD performance.
Which ETF is larger by assets under management: HFR or XBB?
As of November 11, 2026, HFR manages $713.34 M in assets, while XBB manages $11.02 B. XBB is the larger fund by AUM.
How are HFR and XBB managed?
HFR is actively managed by Global X. It does not track an index. XBB is passively managed by iShares. It tracks the FTSE Canada Universe Bond TR Index - CAD benchmark.
What sectors do HFR and XBB emphasize?
HFR is most exposed to Finance, Energy, and Telecommunications. XBB is most exposed to Sovereign, Municipal, and Finance.
Which ETF is attracting more investor flows: HFR or XBB?
Year to date, HFR has seen +$204.32 M in net flows, compared with +$2,084.94 M for XBB. XBB has attracted more net investor money so far.
How do the fees of HFR and XBB compare?
HFR has an expense ratio of 0.49%, while XBB has an expense ratio of 0.10%.
What are the top holdings of HFR and XBB?
HFR's largest holdings include Federation des caisses Desjardins du Quebec, 5.035% 23aug2032, CAD and TransCanada PipeLines, 3.8% 5apr2027, CAD. XBB's top holdings include Canada, Bonds 2.75% 1mar2031, CAD and Canada, Bonds 2.75% 1sep2030, CAD.
Which ETF is more diversified: HFR or XBB?
HFR holds 281 securities, while XBB holds 1855. On holdings count, XBB is the more diversified portfolio.
Recent articles about HFR and XBB
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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.