VS
Global X Active Ultra-Short Term Investment Grade Bond ETF (HFR) and iShares Canadian Short Term Bond Index ETF (XSB) 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 XSB leans towards Sovereign, Finance, and Municipal. When evaluating costs, HFR features a management fee (MER) of 0.47%, compared to 0.09% for XSB. Performance-wise, HFR has returned 2.1% year-to-date with +$204 M in net flows, whereas XSB is at 1.38% with +$967 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
HFR
XSB
| AuM | $713.34 M | $4,486.44 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% |
XSB | +0.39% | +0.41% | +1.38% | +1.34% | +14.19% | |
| Flows | HFR | +$7 M | +$64 M | +$204 M | +$217 M | +$293 M |
XSB | -$91 M | +$53 M | +$967 M | +$1,137 M | +$2,236 M |
HFR vs XSB exposure
Countries
HFR
Canada
88.03%
Other
8.09%
XSB
Canada
95.41%
Sectors
HFR
Finance
67.98%
Energy
8.59%
Other
8.09%
Other
15.34%
XSB
Sovereign
38.09%
Finance
23.89%
Municipal
15.14%
Government Agencies
9.68%
Other
13.20%
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%
XSB
Canada, Bonds 2.75% 1mar2031, CAD
3.40%
Canada, Bonds 2.75% 1sep2030, CAD
3.39%
Canada, Bonds 3% 1sep2031, CAD
2.99%
Canada, Bonds 2.75% 1mar2030, CAD
2.68%
Canada, Bonds 3.5% 1sep2029, CAD
2.55%
Canada, Bonds 2.5% 1may2028, CAD
2.46%
Canada, Bonds 2.5% 1nov2027, CAD
2.44%
Canada, Bonds 2.25% 1feb2028, CAD
2.44%
Canada, Bond 1.5 1jun2031 10Y
2.42%
Canada, Bonds 4% 1mar2029, CAD
2.36%
Diversification
HFR
Total weight of top 10 holdings out of 293 total
13.80%
XSB
Total weight of top 10 holdings out of 782 total
27.13%
Characteristics
Compare
HFR
XSB
| Provider | Global X | iShares |
| Management | Actively managed | Passively managed |
| Benchmark | - | FTSE Canada Short Term Overall Bond TR Index - CAD |
| Replication Method | - | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 3.44% | 3.10% |
| Meets ESG criteria | No | No |
| Inception Date | December 8, 2010 | November 20, 2000 |
Frequently asked questions about HFR and XSB
Which ETF has performed better year to date: HFR or XSB?
As of November 11, 2026, HFR has returned 2.10% year to date, while XSB has returned 1.38%. HFR is ahead on YTD performance.
Which ETF is larger by assets under management: HFR or XSB?
As of November 11, 2026, HFR manages $713.34 M in assets, while XSB manages $4.49 B. XSB is the larger fund by AUM.
How are HFR and XSB managed?
HFR is actively managed by Global X. It does not track an index. XSB is passively managed by iShares. It tracks the FTSE Canada Short Term Overall Bond TR Index - CAD benchmark.
What sectors do HFR and XSB emphasize?
HFR is most exposed to Finance, Energy, and Telecommunications. XSB is most exposed to Sovereign, Finance, and Municipal.
Which ETF is attracting more investor flows: HFR or XSB?
Year to date, HFR has seen +$204.32 M in net flows, compared with +$966.58 M for XSB. XSB has attracted more net investor money so far.
How do the fees of HFR and XSB compare?
HFR has an expense ratio of 0.49%, while XSB has an expense ratio of 0.10%.
What are the top holdings of HFR and XSB?
HFR's largest holdings include Federation des caisses Desjardins du Quebec, 5.035% 23aug2032, CAD and TransCanada PipeLines, 3.8% 5apr2027, CAD. XSB's top holdings include Canada, Bonds 2.75% 1mar2031, CAD, Canada, Bonds 2.75% 1sep2030, CAD, and Canada, Bonds 3% 1sep2031, CAD.
Which ETF is more diversified: HFR or XSB?
HFR holds 281 securities, while XSB holds 745. On holdings count, XSB is the more diversified portfolio.
Recent articles about HFR and XSB
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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.