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Mackenzie Developed ex-North America Aggregate Bond Index ETF (QDXB) and iShares Global Government Bond Index ETF (XGGB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that QDXB focuses its top 3 sector exposures on Sovereign, Finance, and Technology, while XGGB leans towards Sovereign. When evaluating costs, QDXB features a management fee (MER) of 0.3%, compared to 0.2% for XGGB. Performance-wise, QDXB has returned 2.35% year-to-date with +$56 M in net flows, whereas XGGB is at 1.84% with -$157 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
XGGB
| AuM | $88.35 M | $353.89 M |
| Management Fees | 0.30% | 0.20% |
| Exp. ratio | 0.34% | 0.22% |
| Tracking Difference | -0.17% | -0.23% |
Historical performance and flows
As of October 27, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | QDXB | +1.07% | -1.50% | -2.35% | -3.24% | +6.27% |
XGGB | +1.22% | -1.09% | -1.84% | -2.56% | +7.56% | |
| Flows | QDXB | +$0 M | +$30 M | +$56 M | +$69 M | +$78 M |
XGGB | -$35 M | -$44 M | -$157 M | -$119 M | +$67 M |
QDXB vs XGGB 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%
XGGB
USA
40.07%
China
11.84%
Japan
8.27%
Other
39.83%
Sectors
QDXB
Sovereign
74.60%
Finance
14.54%
Other
10.86%
XGGB
Sovereign
99.18%
As of October 27, 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%
XGGB
USA, Notes 4% 31may2028, USD (BC-2028)
0.58%
USA, Notes 4.5% 15nov2033, USD (F-2033)
0.58%
USA, Notes 4.25% 15nov2034, USD (F-2034)
0.51%
USA, Notes 3.625% 31aug2029, USD (AC-2029)
0.49%
USA, Notes 4.375% 15may2034, USD (C-2034)
0.48%
USA, Notes 3.875% 15aug2034, USD (E-2034)
0.46%
USA, Notes 4.125% 31may2031, USD (Z-2031)
0.43%
USA, Notes 4.25% 15may2035, USD (C-2035)
0.41%
USA, Notes 3.875% 30apr2031, USD (Y-2031)
0.40%
China, TB 1.79% 25mar2032, CNY
0.39%
Diversification
QDXB
Total weight of top 10 holdings out of 374 total
21.22%
XGGB
Total weight of top 10 holdings out of 1,245 total
4.74%
Characteristics
Compare
QDXB
XGGB
| Provider | Mackenzie Investments | iShares |
| Management | Passively managed | Passively managed |
| Benchmark | Solactive Ex-North America DM Select Global Aggregate Bond Net Total Return Index - CAD Hedged | FTSE World Government Bond Index Currency-hedged in CAD - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.26% | 2.90% |
| Meets ESG criteria | No | No |
| Inception Date | September 24, 2020 | September 21, 2017 |
Frequently asked questions about QDXB and XGGB
Which ETF has performed better year to date: QDXB or XGGB?
As of October 27, 2026, QDXB has returned -2.35% year to date, while XGGB has returned -1.84%. XGGB is ahead on YTD performance.
Which ETF is larger by assets under management: QDXB or XGGB?
As of October 27, 2026, QDXB manages $88.35 M in assets, while XGGB manages $353.89 M. XGGB is the larger fund by AUM.
How are QDXB and XGGB 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. XGGB is passively managed by iShares. It tracks the FTSE World Government Bond Index Currency-hedged in CAD - CAD benchmark.
What sectors do QDXB and XGGB emphasize?
QDXB is most exposed to Sovereign, Finance, and Technology. XGGB is most exposed to Sovereign.
Which ETF is attracting more investor flows: QDXB or XGGB?
Year to date, QDXB has seen +$55.95 M in net flows, compared with -$157.48 M for XGGB. QDXB has attracted more net investor money so far.
How do the fees of QDXB and XGGB compare?
QDXB has an expense ratio of 0.34%, while XGGB has an expense ratio of 0.22%.
What are the top holdings of QDXB and XGGB?
QDXB's largest holdings include France, OAT 3.25% 25feb2032, EUR, United Kingdom, Gilt 4.375% 7mar2030, GBP, and Visa, 2.25% 15may2028, EUR. XGGB's top holdings include USA, Notes 4% 31may2028, USD (BC-2028), USA, Notes 4.5% 15nov2033, USD (F-2033), and USA, Notes 4.25% 15nov2034, USD (F-2034).
Which ETF is more diversified: QDXB or XGGB?
QDXB holds 372 securities, while XGGB holds 1231. On holdings count, XGGB is the more diversified portfolio.
Recent articles about QDXB and XGGB
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