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Compare Mackenzie Emerging Markets Bond Index ETF (QEBH) vs Mackenzie Emerging Markets Local Currency Bond Index ETF (QEBL) to find the best fit for your portfolio. QEBH provides Sovereign, Energy, and Finance exposures, while QEBL is primarily weighted in Sovereign, Finance, and Industrials. When evaluating costs, QEBH features a management fee (MER) of 0.45%, compared to 0.45% for QEBL. Performance-wise, QEBH has returned 0.42% year-to-date with +$57 M in net flows, whereas QEBL is at 3.06% with +$27 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
QEBH
QEBL
| AuM | $317.72 M | $119.55 M |
| Management Fees | 0.45% | 0.45% |
| Exp. ratio | 0.51% | 0.55% |
| Tracking Difference | -0.37% | -0.29% |
Historical performance and flows
As of August 24, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | QEBH | +0.35% | +0.37% | -0.42% | +3.21% | +22.07% |
QEBL | +0.91% | +2.91% | +3.06% | +4.70% | +33.26% | |
| Flows | QEBH | +$0 M | +$8 M | +$57 M | +$65 M | +$50 M |
QEBL | +$0 M | +$0 M | +$27 M | +$39 M | -$350 M |
QEBH vs QEBL exposure
Countries
QEBH
Saudi Arabia
9.53%
Mexico
7.84%
Indonesia
7.75%
Other
74.88%
QEBL
Republic of Korea
11.01%
China
9.17%
Brazil
8.97%
Mexico
8.78%
Thailand
8.04%
Indonesia
7.03%
Other
47.00%
Sectors
QEBH
Sovereign
74.62%
Energy
9.64%
Other
15.74%
QEBL
Sovereign
84.06%
Finance
14.40%
As of August 24, 2026
Top 10 Holdings
QEBH
Pemex, 6.7% 16feb2032, USD (C)
1.39%
Argentina, 4.125% 9jul2035, USD
1.30%
Argentina, Bonos 4.125% 9jul2035, USD
1.19%
Argentina, 5% 9jan2038, USD
1.16%
Qatar, 5.103% 23apr2048, USD
1.11%
Ecuador, 6.9% 31jul2035, USD
1.03%
Indonesia, 4.75% 11feb2029, USD
1.01%
Indonesia, 3.55% 31mar2032, USD
0.95%
KEXIM, 1.125% 29dec2026, USD
0.90%
Turkey, 6.125% 24oct2028, USD
0.84%
QEBL
Brazil, NTN-F 10% 1jan2029, BRL (NTN-F)
3.64%
European Investment Bank (EIB), 6.875% 28feb2035, INR (2658/0100)
2.17%
Philippines, 6.25% 14jan2036, PHP
2.07%
South Africa, Bonds 8.875% 28feb2035, ZAR (R2035)
1.82%
Thailand, LB 1.66% 17mar2030, THB
1.70%
China, Bonds 1.66% 25dec2032, CNY
1.60%
South Africa, Bonds 8.75% 31jan2044, ZAR (R2044)
1.60%
China, TB 1.63% 25oct2030, CNY
1.57%
Brazil, NTN-F 10% 1jan2031, BRL (NTN-F)
1.49%
Indonesia, FR 6.75% 15jul2035, IDR
1.47%
Diversification
QEBH
Total weight of top 10 holdings out of 371 total
10.89%
QEBL
Total weight of top 10 holdings out of 244 total
19.14%
Characteristics
Compare
QEBH
QEBL
| Provider | Mackenzie Investments | Mackenzie Investments |
| Management | Passively managed | Passively managed |
| Benchmark | Solactive EM USD Govt & Govt Related Bond Select NTR Index - CAD Hedged | Solactive EM Local Currency Government Bond Select NTR Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 4.87% | 4.82% |
| Meets ESG criteria | No | No |
| Inception Date | July 25, 2019 | October 24, 2019 |
Frequently asked questions about QEBH and QEBL
Which ETF has performed better year to date: QEBH or QEBL?
As of August 24, 2026, QEBH has returned -0.42% year to date, while QEBL has returned 3.06%. QEBL is ahead on YTD performance.
Which ETF is larger by assets under management: QEBH or QEBL?
As of August 24, 2026, QEBH manages $317.72 M in assets, while QEBL manages $119.55 M. QEBH is the larger fund by AUM.
How are QEBH and QEBL managed?
QEBH is passively managed by Mackenzie Investments. It tracks the Solactive EM USD Govt & Govt Related Bond Select NTR Index - CAD Hedged benchmark. QEBL is passively managed by Mackenzie Investments. It tracks the Solactive EM Local Currency Government Bond Select NTR Index - CAD benchmark.
What sectors do QEBH and QEBL emphasize?
QEBH is most exposed to Sovereign, Energy, and Finance. QEBL is most exposed to Sovereign, Finance, and Industrials.
Which ETF is attracting more investor flows: QEBH or QEBL?
Year to date, QEBH has seen +$56.91 M in net flows, compared with +$26.85 M for QEBL. QEBH has attracted more net investor money so far.
How do the fees of QEBH and QEBL compare?
QEBH has an expense ratio of 0.51%, while QEBL has an expense ratio of 0.55%.
What are the top holdings of QEBH and QEBL?
QEBH's largest holdings include Pemex, 6.7% 16feb2032, USD (C), Argentina, 4.125% 9jul2035, USD, and Argentina, Bonos 4.125% 9jul2035, USD. QEBL's top holdings include Brazil, NTN-F 10% 1jan2029, BRL (NTN-F), European Investment Bank (EIB), 6.875% 28feb2035, INR (2658/0100), and Philippines, 6.25% 14jan2036, PHP.
Which ETF is more diversified: QEBH or QEBL?
QEBH holds 370 securities, while QEBL holds 244. On holdings count, QEBH is the more diversified portfolio.
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