VS
TD Target 2027 U.S. Investment Grade Bond ETF (TBUG.U) and Mackenzie US Government Long Bond Index ETF (QTLT) offer distinct profiles for Canadian ETF investors. A direct comparison shows that TBUG.U focuses its top 3 sector exposures on Finance, Consumer Non-Cyclicals, and Energy, while QTLT leans towards Sovereign. When evaluating costs, TBUG.U features a management fee (MER) of 0.2%, compared to 0.18% for QTLT. Performance-wise, TBUG.U has returned 2.68% year-to-date with -$21 M in net flows, whereas QTLT is at 1.68% with +$3 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
TBUG.U
QTLT
| AuM | $43.84 M | $128.80 M |
| Management Fees | 0.20% | 0.18% |
| Exp. ratio | 0.22% | 0.20% |
| Tracking Difference | - | -0.38% |
Historical performance and flows
As of October 29, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | TBUG.U | +0.49% | +0.79% | +2.68% | +3.59% | - |
QTLT | +3.10% | -1.06% | -1.68% | -6.28% | - | |
| Flows | TBUG.U | +$0 M | +$4 M | -$21 M | -$22 M | +$0 M |
QTLT | -$32 M | -$24 M | +$3 M | +$9 M | - |
TBUG.U vs QTLT exposure
Countries
TBUG.U
USA
99.57%
QTLT
USA
100.28%
Sectors
TBUG.U
Finance
59.76%
Consumer Non-Cyclicals
13.31%
Energy
8.50%
Consumer Cyclicals
8.40%
Other
10.03%
QTLT
Sovereign
100.28%
As of October 29, 2026
Top 10 Holdings
TBUG.U
Bank of America Corporation, 4.183% 25nov2027, USD (L)
8.60%
Wells Fargo, 2.393% 2jun2028, USD (U)
8.59%
Energy Transfer, 4% 1oct2027, USD
8.50%
Citigroup, 4.45% 29sep2027, USD (G)
8.43%
General Motors, 6.8% 1oct2027, USD
8.40%
CVS Health, 1.3% 21aug2027, USD
7.53%
American Tower, 3.55% 15jul2027, USD
7.37%
Capital One Financial, 3.65% 11may2027, USD
6.07%
Truist Financial, 1.125% 3aug2027, USD (G)
5.95%
McCormick & Co, 3.4% 15aug2027, USD
5.78%
QTLT
USA, Bonds 2% 15aug2051, USD
13.16%
USA, Bonds 2.25% 15feb2052, USD
7.11%
USA, Bonds 2.375% 15may2051, USD
6.11%
USA, Bonds 4.25% 15feb2054, USD
5.65%
USA, Bonds 4.25% 15aug2054, USD
5.54%
USA, Bonds 4.75% 15aug2055, USD
5.48%
USA, Bonds 1.625% 15nov2050, USD
5.44%
USA, Bonds 2.875% 15may2049, USD
5.39%
USA, Bonds 1.875% 15nov2051, USD
5.37%
USA, Bonds 4.75% 15feb2056, USD
3.93%
Diversification
TBUG.U
Total weight of top 10 holdings out of 17 total
75.23%
QTLT
Total weight of top 10 holdings out of 31 total
63.16%
Characteristics
Compare
TBUG.U
QTLT
| Provider | TD Asset Management | Mackenzie Investments |
| Management | Actively managed | Passively managed |
| Benchmark | - | Solactive US 20+ Year Treasury Bond CAD GTR Index - CAD |
| Replication Method | - | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.84% | 3.92% |
| Meets ESG criteria | No | No |
| Inception Date | April 9, 2024 | November 20, 2023 |
Frequently asked questions about TBUG.U and QTLT
Which ETF has performed better year to date: TBUG.U or QTLT?
As of October 29, 2026, TBUG.U has returned 2.68% year to date, while QTLT has returned -1.68%. TBUG.U is ahead on YTD performance.
Which ETF is larger by assets under management: TBUG.U or QTLT?
As of October 29, 2026, TBUG.U manages $43.84 M in assets, while QTLT manages $128.80 M. QTLT is the larger fund by AUM.
How are TBUG.U and QTLT managed?
TBUG.U is actively managed by TD Asset Management. It does not track an index. QTLT is passively managed by Mackenzie Investments. It tracks the Solactive US 20+ Year Treasury Bond CAD GTR Index - CAD benchmark.
What sectors do TBUG.U and QTLT emphasize?
TBUG.U is most exposed to Finance, Consumer Non-Cyclicals, and Energy. QTLT is most exposed to Sovereign.
Which ETF is attracting more investor flows: TBUG.U or QTLT?
Year to date, TBUG.U has seen -$21.00 M in net flows, compared with +$2.98 M for QTLT. QTLT has attracted more net investor money so far.
How do the fees of TBUG.U and QTLT compare?
TBUG.U has an expense ratio of 0.22%, while QTLT has an expense ratio of 0.20%.
What are the top holdings of TBUG.U and QTLT?
TBUG.U's largest holdings include Bank of America Corporation, 4.183% 25nov2027, USD (L), Wells Fargo, 2.393% 2jun2028, USD (U), and Energy Transfer, 4% 1oct2027, USD. QTLT's top holdings include USA, Bonds 2% 15aug2051, USD, USA, Bonds 2.25% 15feb2052, USD, and USA, Bonds 2.375% 15may2051, USD.
Which ETF is more diversified: TBUG.U or QTLT?
TBUG.U holds 17 securities, while QTLT holds 31. On holdings count, QTLT is the more diversified portfolio.
Recent articles about TBUG.U and QTLT
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