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Compare Mackenzie Developed ex-North America Aggregate Bond Index ETF (QDXB) vs Vanguard Global ex-U.S. Aggregate Bond Index ETF (VBG) to find the best fit for your portfolio. QDXB provides Sovereign, Finance, and Technology exposures, while VBG is primarily weighted in Sovereign, Finance, and Municipal. When evaluating costs, QDXB features a management fee (MER) of 0.3%, compared to 0.35% for VBG. Performance-wise, QDXB has returned 2.42% year-to-date with +$56 M in net flows, whereas VBG is at 1.82% with +$464 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
QDXB
VBG
| AuM | $88.29 M | $1,621.11 M |
| Management Fees | 0.30% | 0.35% |
| Exp. ratio | 0.34% | 0.38% |
| Tracking Difference | -0.17% | -0.89% |
Historical performance and flows
As of October 26, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | QDXB | +1.00% | -1.57% | -2.42% | -3.31% | +6.35% |
VBG | +1.00% | -1.17% | -1.82% | -3.24% | +8.43% | |
| Flows | QDXB | +$0 M | +$30 M | +$56 M | +$69 M | +$78 M |
VBG | +$50 M | +$125 M | +$464 M | +$659 M | +$1,054 M |
QDXB vs VBG exposure
Countries
QDXB
France
18.96%
Japan
13.77%
Germany
12.22%
United Kingdom
10.51%
USA
10.02%
Italy
9.42%
Other
25.09%
VBG
France
11.65%
Japan
10.29%
Germany
9.74%
United Kingdom
8.08%
Italy
7.42%
Other
52.81%
Sectors
QDXB
Sovereign
74.60%
Finance
14.54%
Other
10.86%
VBG
Sovereign
63.85%
Finance
19.19%
Other
16.96%
As of October 26, 2026
Top 10 Holdings
QDXB
France, OAT 3.25% 25feb2032, EUR
5.77%
United Kingdom, Gilt 4.375% 7mar2030, GBP
2.36%
Visa, 2.25% 15may2028, EUR
2.12%
Germany, Bund 2.6% 15may2041, EUR
1.73%
Germany, Bund 4.75% 4jul2028, EUR
1.68%
SAP SE, 0.375% 18may2029, EUR
1.57%
Japan, JGB 1.8% 20mar2032, JPY
1.56%
Japan, JGB 2% 20mar2042, JPY
1.54%
United Kingdom, Gilt 3.25% 31jan2033, GBP
1.46%
France, OAT 0% 25nov2030, EUR (4018D)
1.44%
VBG
DE000F3A9EV9
0.73%
United Kingdom, Gilt 4.125% 7mar2031, GBP
0.41%
France, OAT 2.7% 25feb2031, EUR
0.37%
France, OAT 2.75% 25feb2029, EUR
0.36%
United Kingdom, Gilt 4.375% 7mar2030, GBP
0.36%
United Kingdom, Gilt 4.375% 7mar2028, GBP
0.35%
United Kingdom, Gilt 4.125% 22jul2029, GBP
0.34%
France, OAT 3.5% 25nov2035, EUR
0.33%
France, OAT 2% 25nov2032, EUR
0.33%
United Kingdom, Gilt 4.5% 7jun2028, GBP
0.30%
Diversification
QDXB
Total weight of top 10 holdings out of 374 total
21.22%
VBG
Total weight of top 10 holdings out of 6,796 total
3.88%
Characteristics
Compare
QDXB
VBG
| Provider | Mackenzie Investments | Vanguard |
| Management | Passively managed | Passively managed |
| Benchmark | Solactive Ex-North America DM Select Global Aggregate Bond Net Total Return Index - CAD Hedged | Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped (CAD Hedged) Total Return Index - CAD |
| Replication Method | Direct (Physical) | Other |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.26% | 3.81% |
| Meets ESG criteria | No | No |
| Inception Date | September 24, 2020 | June 30, 2014 |
Frequently asked questions about QDXB and VBG
Which ETF has performed better year to date: QDXB or VBG?
As of October 26, 2026, QDXB has returned -2.42% year to date, while VBG has returned -1.82%. VBG is ahead on YTD performance.
Which ETF is larger by assets under management: QDXB or VBG?
As of October 26, 2026, QDXB manages $88.29 M in assets, while VBG manages $1.62 B. VBG is the larger fund by AUM.
How are QDXB and VBG managed?
QDXB is passively managed by Mackenzie Investments. It tracks the Solactive Ex-North America DM Select Global Aggregate Bond Net Total Return Index - CAD Hedged benchmark. VBG is passively managed by Vanguard. It tracks the Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped (CAD Hedged) Total Return Index - CAD benchmark.
What sectors do QDXB and VBG emphasize?
QDXB is most exposed to Sovereign, Finance, and Technology. VBG is most exposed to Sovereign, Finance, and Municipal.
Which ETF is attracting more investor flows: QDXB or VBG?
Year to date, QDXB has seen +$55.95 M in net flows, compared with +$463.94 M for VBG. VBG has attracted more net investor money so far.
How do the fees of QDXB and VBG compare?
QDXB has an expense ratio of 0.34%, while VBG has an expense ratio of 0.38%.
What are the top holdings of QDXB and VBG?
QDXB's largest holdings include France, OAT 3.25% 25feb2032, EUR, United Kingdom, Gilt 4.375% 7mar2030, GBP, and Visa, 2.25% 15may2028, EUR. VBG's top holdings include United Kingdom, Gilt 4.125% 7mar2031, GBP and France, OAT 2.7% 25feb2031, EUR.
Which ETF is more diversified: QDXB or VBG?
QDXB holds 372 securities, while VBG holds 6736. On holdings count, VBG is the more diversified portfolio.
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