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Compare Mackenzie Emerging Markets Bond Index ETF (QEBH) vs iShares J.P. Morgan USD Emerging Markets Bond Index ETF (XEB) to find the best fit for your portfolio. QEBH and XEB provide the same top sector exposures: Sovereign, Energy, and Finance. When evaluating costs, QEBH features a management fee (MER) of 0.45%, compared to 0.52% for XEB. Performance-wise, QEBH has returned 0.1% year-to-date with +$57 M in net flows, whereas XEB is at 0.46% 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
QEBH
XEB
| AuM | $318.72 M | $30.64 M |
| Management Fees | 0.45% | 0.52% |
| Exp. ratio | 0.51% | 0.54% |
| Tracking Difference | -0.37% | -1.17% |
Historical performance and flows
As of August 25, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | QEBH | +0.37% | +0.69% | -0.10% | +3.54% | +22.70% |
XEB | +0.69% | +0.54% | +0.46% | +4.22% | +22.91% | |
| Flows | QEBH | +$0 M | +$8 M | +$57 M | +$65 M | +$50 M |
XEB | -$0 M | -$0 M | +$2 M | +$6 M | -$80 M |
QEBH vs XEB exposure
Countries
QEBH
Saudi Arabia
9.53%
Mexico
7.84%
Indonesia
7.75%
Other
74.88%
XEB
Other
100.00%
Sectors
QEBH
Sovereign
74.62%
Energy
9.64%
Other
15.74%
XEB
Sovereign
85.37%
Other
14.63%
As of August 25, 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%
XEB
BlackRock Cash Funds - Treasury
1.35%
Argentina, 4.125% 9jul2035, USD
1.19%
Ecuador, 6.9% 31jul2035, USD
0.80%
Argentina, 5% 9jan2038, USD
0.69%
Argentina, 0.75% 9jul2030, USD
0.64%
Argentina, 3.5% 9jul2041, USD
0.57%
Ghana, 5% 3jul2035, USD
0.54%
Uruguay, 5.1% 18jun2050, USD
0.51%
Mexico, 5.5% 17aug2030, USD
0.51%
Ukraine, 4% 1feb2032, USD
0.42%
Diversification
QEBH
Total weight of top 10 holdings out of 371 total
10.89%
XEB
Total weight of top 10 holdings out of 614 total
7.23%
Characteristics
Compare
QEBH
XEB
| Provider | Mackenzie Investments | iShares |
| Management | Passively managed | Passively managed |
| Benchmark | Solactive EM USD Govt & Govt Related Bond Select NTR Index - CAD Hedged | J.P. Morgan EMBI Global Core - Hedged in CAD Total Return Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 4.86% | 4.99% |
| Meets ESG criteria | No | No |
| Inception Date | July 25, 2019 | April 12, 2011 |
Frequently asked questions about QEBH and XEB
Which ETF has performed better year to date: QEBH or XEB?
As of August 25, 2026, QEBH has returned -0.10% year to date, while XEB has returned 0.46%. XEB is ahead on YTD performance.
Which ETF is larger by assets under management: QEBH or XEB?
As of August 25, 2026, QEBH manages $318.72 M in assets, while XEB manages $30.64 M. QEBH is the larger fund by AUM.
How are QEBH and XEB managed?
QEBH is passively managed by Mackenzie Investments. It tracks the Solactive EM USD Govt & Govt Related Bond Select NTR Index - CAD Hedged benchmark. XEB is passively managed by iShares. It tracks the J.P. Morgan EMBI Global Core - Hedged in CAD Total Return Index - CAD benchmark.
What sectors do QEBH and XEB emphasize?
QEBH is most exposed to Sovereign, Energy, and Finance. XEB is most exposed to Sovereign, Energy, and Finance.
Which ETF is attracting more investor flows: QEBH or XEB?
Year to date, QEBH has seen +$56.91 M in net flows, compared with +$1.78 M for XEB. QEBH has attracted more net investor money so far.
How do the fees of QEBH and XEB compare?
QEBH has an expense ratio of 0.51%, while XEB has an expense ratio of 0.54%.
What are the top holdings of QEBH and XEB?
QEBH's largest holdings include Pemex, 6.7% 16feb2032, USD (C), Argentina, 4.125% 9jul2035, USD, and Argentina, Bonos 4.125% 9jul2035, USD. XEB's top holdings include BlackRock Cash Funds - Treasury, Argentina, 4.125% 9jul2035, USD, and Ecuador, 6.9% 31jul2035, USD.
Which ETF is more diversified: QEBH or XEB?
QEBH holds 370 securities, while XEB holds 612. On holdings count, XEB is the more diversified portfolio.
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