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Compare Mackenzie U.S. Aggregate Bond Index ETF (QUB) vs Vanguard U.S. Aggregate Bond Index ETF (VBU) to find the best fit for your portfolio. QUB and VBU provide the same top sector exposures: Sovereign, Finance, and Industrials. When evaluating costs, QUB features a management fee (MER) of 0.15%, compared to 0.2% for VBU. Performance-wise, QUB has returned 3.67% year-to-date with +$33 M in net flows, whereas VBU is at 2.94% with +$428 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
QUB
VBU
| AuM | $124.04 M | $1,935.20 M |
| Management Fees | 0.15% | 0.20% |
| Exp. ratio | 0.17% | 0.23% |
| Tracking Difference | -0.09% | -0.53% |
Historical performance and flows
As of October 15, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | QUB | -0.71% | -2.81% | -3.67% | -3.99% | +8.36% |
VBU | -0.30% | -2.24% | -2.94% | -3.60% | +11.09% | |
| Flows | QUB | +$3 M | +$3 M | +$33 M | +$50 M | +$100 M |
VBU | +$61 M | +$128 M | +$428 M | +$688 M | +$1,132 M |
QUB vs VBU exposure
Countries
QUB
USA
79.23%
Other
12.43%
Other
8.34%
VBU
USA
75.17%
Other
18.96%
Sectors
QUB
Sovereign
47.82%
Finance
19.86%
Other
12.43%
Industrials
7.22%
Other
12.67%
VBU
Sovereign
47.53%
Other
18.96%
Finance
10.71%
Industrials
7.30%
Other
15.51%
As of October 15, 2026
Top 10 Holdings
QUB
USA, Bonds 5.5% 15aug2028, USD
4.15%
USA, Notes 4% 28feb2030, USD (H-2030)
3.78%
USA, Notes 3.75% 31dec2030, USD (T-2030)
3.77%
USA, Notes 4.5% 15nov2033, USD (F-2033)
2.95%
USA, Notes 1.25% 31may2028, USD (L-2028)
2.87%
USA, Notes 0.875% 15nov2030, USD (F-2030)
2.25%
Massmutual Global Funding II, 4.95% 10jan2030, USD (2025-1)
1.92%
USA, Notes 3.5% 28feb2031, USD (V-2031)
1.79%
Ontario Teachers Pension Plan (OTPP), 2% 16apr2031, USD (1)
1.72%
USA, Notes 0.625% 15aug2030, USD (E-2030)
1.70%
VBU
USA, Notes 3.5% 31jan2028, USD (U-2028)
0.47%
USA, Notes 4.25% 15nov2034, USD (F-2034)
0.41%
USA, Notes 4.375% 15may2034, USD (C-2034)
0.41%
USA, Notes 3.375% 30nov2027, USD (BL-2027)
0.40%
USA, Notes 4.625% 15feb2035, USD (B-2035)
0.40%
USA, Notes 3.875% 15aug2034, USD (E-2034)
0.40%
USA, Notes 4% 15feb2034, USD (B-2034)
0.39%
USA, Notes 4.125% 15feb2036, USD (B-2036)
0.39%
USA, Notes 4.25% 15aug2035, USD (E-2035)
0.38%
USA, Notes 4.5% 15nov2033, USD (F-2033)
0.38%
Diversification
QUB
Total weight of top 10 holdings out of 552 total
26.89%
VBU
Total weight of top 10 holdings out of 15,072 total
4.04%
Characteristics
Compare
QUB
VBU
| Provider | Mackenzie Investments | Vanguard |
| Management | Passively managed | Passively managed |
| Benchmark | Solactive US Aggregate Bond Index - CAD Hedged | Bloomberg U.S. Aggregate Float Adjusted Bond (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 | 3.38% | 3.80% |
| Meets ESG criteria | No | No |
| Inception Date | September 24, 2020 | June 30, 2014 |
Frequently asked questions about QUB and VBU
Which ETF has performed better year to date: QUB or VBU?
As of October 15, 2026, QUB has returned -3.67% year to date, while VBU has returned -2.94%. VBU is ahead on YTD performance.
Which ETF is larger by assets under management: QUB or VBU?
As of October 15, 2026, QUB manages $124.04 M in assets, while VBU manages $1.94 B. VBU is the larger fund by AUM.
How are QUB and VBU managed?
QUB is passively managed by Mackenzie Investments. It tracks the Solactive US Aggregate Bond Index - CAD Hedged benchmark. VBU is passively managed by Vanguard. It tracks the Bloomberg U.S. Aggregate Float Adjusted Bond (CAD Hedged) Total Return Index - CAD benchmark.
What sectors do QUB and VBU emphasize?
QUB is most exposed to Sovereign, Finance, and Industrials. VBU is most exposed to Sovereign, Finance, and Industrials.
Which ETF is attracting more investor flows: QUB or VBU?
Year to date, QUB has seen +$33.20 M in net flows, compared with +$427.82 M for VBU. VBU has attracted more net investor money so far.
How do the fees of QUB and VBU compare?
QUB has an expense ratio of 0.17%, while VBU has an expense ratio of 0.23%.
What are the top holdings of QUB and VBU?
QUB's largest holdings include USA, Bonds 5.5% 15aug2028, USD and USA, Notes 4% 28feb2030, USD (H-2030). VBU's top holdings include USA, Notes 3.5% 31jan2028, USD (U-2028) and USA, Notes 4.25% 15nov2034, USD (F-2034).
Which ETF is more diversified: QUB or VBU?
QUB holds 510 securities, while VBU holds 9484. On holdings count, VBU is the more diversified portfolio.
Recent articles about QUB and VBU
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All content on the ETF Market Canada is for your general information use only, Cboe is not responsible for any use of content by you outside this scope. In particular, the content does not constitute any form of advice, recommendation, representation, endorsement or arrangement by Cboe and is not intended to be relied upon by users in making (or refraining from making) any specific investment or other decisions.