VS
Mackenzie Canadian Ultra Short Bond Index ETF (QASH) and Desjardins Canadian Corporate Bond Index ETF (DCBC) offer distinct profiles for Canadian ETF investors. A direct comparison shows that QASH focuses its top 3 sector exposures on Finance, Municipal, and Energy, while DCBC leans towards Finance, Utilities, and Energy. When evaluating costs, QASH features a management fee (MER) of 0.15%, compared to 0.15% for DCBC. Performance-wise, QASH has returned 1.63% year-to-date with -$15 M in net flows, whereas DCBC is at 0.39% with +$825 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
QASH
DCBC
| AuM | $135.81 M | $1,546.97 M |
| Management Fees | 0.15% | 0.15% |
| Exp. ratio | 0.17% | 0.17% |
| Tracking Difference | 0.00% | 0.61% |
Historical performance and flows
As of September 1, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | QASH | +0.23% | +0.62% | +1.63% | +2.63% | - |
DCBC | -0.95% | -1.32% | +0.39% | +2.62% | - | |
| Flows | QASH | -$10 M | -$5 M | -$15 M | +$7 M | - |
DCBC | +$64 M | +$237 M | +$825 M | +$993 M | - |
QASH vs DCBC exposure
Countries
QASH
Canada
90.18%
USA
9.82%
DCBC
Canada
88.50%
USA
9.25%
Sectors
QASH
Finance
58.46%
Municipal
36.75%
DCBC
Finance
45.57%
Utilities
14.53%
Energy
12.95%
Telecommunications
7.90%
Other
19.06%
As of September 1, 2026
Top 10 Holdings
QASH
Montreal, 2.75% 1sep2026, CAD
24.51%
Toronto, 2.4% 7jun2027, CAD
12.24%
OPB Finance Trust, 2.98% 25jan2027, CAD (F)
9.16%
Bank of America Corporation, 1.978% 15sep2027, CAD (N)
4.73%
Morgan Stanley, 1.779% 4aug2027, CAD (I)
4.20%
Bank of Montreal, 4.309% 1jun2027, CAD
3.04%
Bank of Nova Scotia, 3.934% 3may2032, CAD
3.03%
CIBC, 4.2% 7apr2032, CAD
2.94%
Royal Bank of Canada, 2.94% 3may2032, CAD (25)
2.91%
Toronto-Dominion Bank, 2.26% 7jan2027, CAD
2.85%
DCBC
Amazon.com, 5% 12jun2056, CAD
0.75%
Toronto-Dominion Bank, 3.687% 9jan2032, CAD
0.60%
Bank of Nova Scotia, 3.61% 30jan2032, CAD
0.59%
Royal Bank of Canada, 3.572% 9dec2031, CAD
0.58%
Amazon.com, 4.35% 12jun2036, CAD
0.58%
CIBC, 4.15% 2apr2035, CAD
0.53%
CIBC, 3.65% 13jan2032, CAD
0.49%
Bell Canada, 3.8% 21aug2028, CAD (M-48)
0.49%
Toronto-Dominion Bank, 4.21% 1jun2027, CAD
0.47%
Toronto-Dominion Bank, 4.68% 8jan2029, CAD
0.46%
Diversification
QASH
Total weight of top 10 holdings out of 43 total
69.60%
DCBC
Total weight of top 10 holdings out of 1,051 total
5.53%
Characteristics
Compare
QASH
DCBC
| Provider | Mackenzie Investments | Desjardins Investments |
| Management | Passively managed | Passively managed |
| Benchmark | Solactive Canadian Ultra Short Bond GTR Index - CAD | Solactive Canadian Bond Universe Total Return Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 3.75% | 4.09% |
| Meets ESG criteria | No | No |
| Inception Date | November 20, 2023 | April 18, 2024 |
Frequently asked questions about QASH and DCBC
Which ETF has performed better year to date: QASH or DCBC?
As of September 1, 2026, QASH has returned 1.63% year to date, while DCBC has returned 0.39%. QASH is ahead on YTD performance.
Which ETF is larger by assets under management: QASH or DCBC?
As of September 1, 2026, QASH manages $135.81 M in assets, while DCBC manages $1.55 B. DCBC is the larger fund by AUM.
How are QASH and DCBC managed?
QASH is passively managed by Mackenzie Investments. It tracks the Solactive Canadian Ultra Short Bond GTR Index - CAD benchmark. DCBC is passively managed by Desjardins Investments. It tracks the Solactive Canadian Bond Universe Total Return Index - CAD benchmark.
What sectors do QASH and DCBC emphasize?
QASH is most exposed to Finance, Municipal, and Energy. DCBC is most exposed to Finance, Utilities, and Energy.
Which ETF is attracting more investor flows: QASH or DCBC?
Year to date, QASH has seen -$15.03 M in net flows, compared with +$825.09 M for DCBC. DCBC has attracted more net investor money so far.
How do the fees of QASH and DCBC compare?
QASH has an expense ratio of 0.17%, while DCBC has an expense ratio of 0.17%.
What are the top holdings of QASH and DCBC?
QASH's largest holdings include Montreal, 2.75% 1sep2026, CAD, Toronto, 2.4% 7jun2027, CAD, and OPB Finance Trust, 2.98% 25jan2027, CAD (F). DCBC's top holdings include Amazon.com, 5% 12jun2056, CAD, Toronto-Dominion Bank, 3.687% 9jan2032, CAD, and Bank of Nova Scotia, 3.61% 30jan2032, CAD.
Which ETF is more diversified: QASH or DCBC?
QASH holds 43 securities, while DCBC holds 1051. On holdings count, DCBC is the more diversified portfolio.
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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.