VS
Mackenzie Canadian All Corporate Bond Index ETF (QCB) and Global X Equal Weight Canadian Banks Index Corporate Class ETF (HEWB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that QCB focuses its top 3 sector exposures on Banks, Power, and Pipelines, while HEWB leans towards Financials. When evaluating costs, QCB features a management fee (MER) of 0.14%, compared to 0.28% for HEWB. Performance-wise, QCB has returned 1.96% year-to-date with +$15 M in net flows, whereas HEWB is at 29.37% with +$19 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
QCB
HEWB
| AuM | $585.79 M | $333.79 M |
| Management Fees | 0.14% | 0.28% |
| Exp. ratio | 0.15% | 0.28% |
| Tracking Difference | 0.00% | -0.78% |
Historical performance and flows
As of June 18, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | QCB | +1.95% | +1.79% | +1.96% | +4.73% | +20.04% |
HEWB | +11.25% | +28.70% | +29.37% | +72.77% | +150.79% | |
| Flows | QCB | +$2 M | +$54 M | +$15 M | -$78 M | +$127 M |
HEWB | +$7 M | +$15 M | +$19 M | +$18 M | +$21 M |
QCB vs HEWB exposure
Countries
QCB
Canada
93.55%
HEWB
Canada
99.99%
Sectors
QCB
Banks
19.39%
Power
13.59%
Other
11.22%
Pipelines
9.48%
Communication services
7.70%
Other
38.61%
HEWB
Financials
99.99%
As of June 18, 2026
Top 10 Holdings
QCB
Bank of Nova Scotia, 3.1% 2feb2028, CAD
0.95%
CA172967QC81
0.90%
AIMCo Realty Investors LP, 2.712% 1jun2029, CAD
0.83%
Royal Bank of Canada, 5.096% 3apr2034, CAD (27)
0.82%
Toronto-Dominion Bank, 4.133% 9jan2033, CAD
0.80%
CA89116C7J09
0.79%
Bank of Montreal, 5.039% 29may2028, CAD
0.76%
Toronto-Dominion Bank, 4.21% 1jun2027, CAD
0.71%
Toronto-Dominion Bank, 4.68% 8jan2029, CAD
0.66%
Bank of Montreal, 4.309% 1jun2027, CAD
0.64%
HEWB
ROYAL BK CANADA
17.10%
TORONTO DOMINION
16.90%
BNS
16.65%
BANK OF MONTREAL
16.51%
CDN IMPERIAL BK
16.48%
NATIONAL BANK OF CANADA
16.35%
Diversification
QCB
Total weight of top 10 holdings out of 711 total
7.87%
HEWB
Total weight of top 10 holdings out of 6 total
99.99%
Characteristics
Compare
QCB
HEWB
| Provider | Mackenzie Investments | Global X |
| Management | Passively managed | Passively managed |
| Benchmark | Solactive Canadian Corporate Bond Index - CAD | Solactive Equal Weight Canada Banks GTR Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Equity |
| Dividend Policy | Distributing | Capitalization |
| Trailing 12m distribution yield | 4.12% | 0.00% |
| Meets ESG criteria | No | No |
| Inception Date | January 29, 2018 | January 23, 2019 |
Frequently asked questions about QCB and HEWB
Which ETF has performed better year to date: QCB or HEWB?
As of June 18, 2026, QCB has returned 1.96% year to date, while HEWB has returned 29.37%. HEWB is ahead on YTD performance.
Which ETF is larger by assets under management: QCB or HEWB?
As of June 18, 2026, QCB manages $585.79 M in assets, while HEWB manages $333.79 M. QCB is the larger fund by AUM.
How are QCB and HEWB managed?
QCB is passively managed by Mackenzie Investments. It tracks the Solactive Canadian Corporate Bond Index - CAD benchmark. HEWB is passively managed by Global X. It tracks the Solactive Equal Weight Canada Banks GTR Index - CAD benchmark.
What sectors do QCB and HEWB emphasize?
QCB is most exposed to Banks, Power, and Pipelines. HEWB is most exposed to Financials.
Which ETF is attracting more investor flows: QCB or HEWB?
Year to date, QCB has seen +$14.83 M in net flows, compared with +$19.45 M for HEWB. HEWB has attracted more net investor money so far.
How do the fees of QCB and HEWB compare?
QCB has an expense ratio of 0.15%, while HEWB has an expense ratio of 0.28%.
What are the top holdings of QCB and HEWB?
QCB's largest holdings include Bank of Nova Scotia, 3.1% 2feb2028, CAD and AIMCo Realty Investors LP, 2.712% 1jun2029, CAD. HEWB's top holdings include ROYAL BK CANADA, TORONTO DOMINION, and BNS.
Which ETF is more diversified: QCB or HEWB?
QCB holds 668 securities, while HEWB holds 6. On holdings count, QCB is the more diversified portfolio.
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