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Compare Mackenzie Developed ex-North America Aggregate Bond Index ETF (QDXB) vs BMO Global Multi-Sector Bond Fund ETF (ZMSB) to find the best fit for your portfolio. QDXB provides Sovereign, Finance, and Technology exposures, while ZMSB is primarily weighted in Finance, Sovereign, and Utilities. When evaluating costs, QDXB features a management fee (MER) of 0.3%, compared to 0.6% for ZMSB. Performance-wise, QDXB has returned 2.42% year-to-date with +$56 M in net flows, whereas ZMSB is at 2.36% with -$2 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
ZMSB
| AuM | $88.29 M | $16.09 M |
| Management Fees | 0.30% | 0.60% |
| Exp. ratio | 0.34% | 0.64% |
| Tracking Difference | -0.17% | - |
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% |
ZMSB | +0.31% | -1.86% | -2.36% | -2.07% | +14.31% | |
| Flows | QDXB | +$0 M | +$30 M | +$56 M | +$69 M | +$78 M |
ZMSB | -$3 M | -$1 M | -$2 M | +$3 M | +$2 M |
QDXB vs ZMSB 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%
ZMSB
USA
39.72%
United Kingdom
19.34%
Germany
9.82%
Other
31.12%
Sectors
QDXB
Sovereign
74.60%
Finance
14.54%
Other
10.86%
ZMSB
Finance
37.16%
Sovereign
8.21%
Utilities
7.01%
Other
47.62%
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%
ZMSB
USA, Notes 4.25% 15aug2035, USD (E-2035)
2.12%
Treasury Corporation of Victoria, 2% 17sep2035, AUD (58)
1.54%
Asian Development Bank (ADB), 0% 6oct2040, ZAR (5479D)
1.37%
United Kingdom, Gilt 4.75% 22oct2043, GBP
1.36%
New South Wales Treasury Corp., 2.5% 22nov2032, AUD (11-2032)
1.30%
EBRD, 0% 30jan2046, ZAR (7305D)
1.25%
Cote d`Ivoire, 8.075% 1apr2036, USD
1.12%
Abbott Laboratories, 4.65% 15mar2036, USD
0.93%
Asian Development Bank (ADB), 0% 30apr2040, ZAR (1137-00-2, 7305D)
0.90%
HSBC Holdings plc, 5.286% 19nov2030, USD
0.84%
Diversification
QDXB
Total weight of top 10 holdings out of 374 total
21.22%
ZMSB
Total weight of top 10 holdings out of 325 total
12.73%
Characteristics
Compare
QDXB
ZMSB
| Provider | Mackenzie Investments | BMO |
| Management | Passively managed | Actively managed |
| Benchmark | Solactive Ex-North America DM Select Global Aggregate Bond Net Total Return Index - CAD Hedged | - |
| Replication Method | Direct (Physical) | - |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.26% | 3.57% |
| Meets ESG criteria | No | No |
| Inception Date | September 24, 2020 | May 29, 2018 |
Frequently asked questions about QDXB and ZMSB
Which ETF has performed better year to date: QDXB or ZMSB?
As of October 26, 2026, QDXB has returned -2.42% year to date, while ZMSB has returned -2.36%. ZMSB is ahead on YTD performance.
Which ETF is larger by assets under management: QDXB or ZMSB?
As of October 26, 2026, QDXB manages $88.29 M in assets, while ZMSB manages $16.09 M. QDXB is the larger fund by AUM.
How are QDXB and ZMSB 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. ZMSB is actively managed by BMO. It does not track an index.
What sectors do QDXB and ZMSB emphasize?
QDXB is most exposed to Sovereign, Finance, and Technology. ZMSB is most exposed to Finance, Sovereign, and Utilities.
Which ETF is attracting more investor flows: QDXB or ZMSB?
Year to date, QDXB has seen +$55.95 M in net flows, compared with -$2.43 M for ZMSB. QDXB has attracted more net investor money so far.
How do the fees of QDXB and ZMSB compare?
QDXB has an expense ratio of 0.34%, while ZMSB has an expense ratio of 0.64%.
What are the top holdings of QDXB and ZMSB?
QDXB's largest holdings include France, OAT 3.25% 25feb2032, EUR, United Kingdom, Gilt 4.375% 7mar2030, GBP, and Visa, 2.25% 15may2028, EUR. ZMSB's top holdings include USA, Notes 4.25% 15aug2035, USD (E-2035), Treasury Corporation of Victoria, 2% 17sep2035, AUD (58), and Asian Development Bank (ADB), 0% 6oct2040, ZAR (5479D).
Which ETF is more diversified: QDXB or ZMSB?
QDXB holds 372 securities, while ZMSB holds 320. On holdings count, QDXB is the more diversified portfolio.
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