VS
Purpose Tactical Hedged Equity Fund ETF (PHE) and Mackenzie US Large Cap Equity Index ETF (QAH) offer distinct profiles for Canadian ETF investors. A direct comparison shows that PHE focuses its top 3 sector exposures on Technology, Finance, and Consumer Non-Cyclicals, while QAH leans towards Technology, Finance, and Healthcare. When evaluating costs, PHE features a management fee (MER) of 0.8%, compared to 0.06% for QAH. Performance-wise, PHE has returned 3.04% year-to-date with -$0 M in net flows, whereas QAH is at 8.94% with +$216 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
PHE
QAH
| AuM | $3.58 M | $1,210.54 M |
| Management Fees | 0.80% | 0.06% |
| Exp. ratio | 0.98% | 0.07% |
| Tracking Difference | - | -0.02% |
Historical performance and flows
As of November 10, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | PHE | -2.30% | -2.34% | +3.04% | +2.35% | +35.92% |
QAH | -3.87% | -3.26% | +8.94% | +8.82% | +70.18% | |
| Flows | PHE | -$1 M | -$1 M | -$0 M | -$0 M | -$1 M |
QAH | -$7 M | +$5 M | +$216 M | +$218 M | +$973 M |
PHE vs QAH exposure
Countries
PHE
USA
95.53%
QAH
USA
97.56%
Sectors
PHE
Technology
48.31%
Finance
12.41%
Consumer Non-Cyclicals
9.17%
Industrials
9.12%
Healthcare
7.94%
Other
13.05%
QAH
Technology
47.59%
Finance
12.31%
Healthcare
9.34%
Consumer Non-Cyclicals
8.43%
Industrials
7.41%
Other
14.91%
As of November 10, 2026
Top 10 Holdings
PHE
NVIDIA Corp.
9.62%
Apple, Inc.
8.76%
Alphabet, Inc.
6.88%
Microsoft Corp.
6.34%
Amazon.com, Inc.
3.54%
Broadcom Inc.
3.02%
Meta Platforms, Inc.
2.47%
Visa, Inc.
2.34%
Eli Lilly & Co.
2.27%
JPMorgan Chase & Co.
2.16%
QAH
NVIDIA Corp.
8.03%
Apple, Inc.
7.20%
Microsoft Corp.
5.68%
Amazon.com, Inc.
3.62%
Alphabet, Inc.
3.04%
Alphabet, Inc.
2.63%
Broadcom Inc.
2.48%
Meta Platforms, Inc.
2.41%
Micron Technology, Inc.
1.82%
Tesla, Inc.
1.64%
Diversification
PHE
Total weight of top 10 holdings out of 81 total
47.39%
QAH
Total weight of top 10 holdings out of 503 total
38.55%
Characteristics
Compare
PHE
QAH
| Provider | Purpose Investments | Mackenzie Investments |
| Management | Actively managed | Passively managed |
| Benchmark | - | Solactive US Large Cap Hedged to CAD NTR Index - CAD |
| Replication Method | - | Direct (Physical) |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 0.00% | 0.90% |
| Meets ESG criteria | No | No |
| Inception Date | September 3, 2013 | January 29, 2018 |
Frequently asked questions about PHE and QAH
Which ETF has performed better year to date: PHE or QAH?
As of November 10, 2026, PHE has returned 3.04% year to date, while QAH has returned 8.94%. QAH is ahead on YTD performance.
Which ETF is larger by assets under management: PHE or QAH?
As of November 10, 2026, PHE manages $3.58 M in assets, while QAH manages $1.21 B. QAH is the larger fund by AUM.
How are PHE and QAH managed?
PHE is actively managed by Purpose Investments. It does not track an index. QAH is passively managed by Mackenzie Investments. It tracks the Solactive US Large Cap Hedged to CAD NTR Index - CAD benchmark.
What sectors do PHE and QAH emphasize?
PHE is most exposed to Technology, Finance, and Consumer Non-Cyclicals. QAH is most exposed to Technology, Finance, and Healthcare.
Which ETF is attracting more investor flows: PHE or QAH?
Year to date, PHE has seen -$0.04 M in net flows, compared with +$216.07 M for QAH. QAH has attracted more net investor money so far.
How do the fees of PHE and QAH compare?
PHE has an expense ratio of 0.98%, while QAH has an expense ratio of 0.07%.
What are the top holdings of PHE and QAH?
PHE's largest holdings include NVIDIA Corp., Apple, Inc., and Alphabet, Inc.. QAH's top holdings include NVIDIA Corp., Apple, Inc., and Microsoft Corp..
Which ETF is more diversified: PHE or QAH?
PHE holds 81 securities, while QAH holds 498. On holdings count, QAH is the more diversified portfolio.
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