VS
Manulife Smart Short Term Bond ETF (TERM) and iShares Core Canadian Short Term Corporate + Maple Bond Index ETF (XSH) offer distinct profiles for Canadian ETF investors. A direct comparison shows that TERM focuses its top 3 sector exposures on Finance, Energy, and Utilities, while XSH leans towards Finance, Energy, and Utilities. When evaluating costs, TERM features a management fee (MER) of 0.2%, compared to 0.09% for XSH. Performance-wise, TERM has returned 1.52% year-to-date with +$534 M in net flows, whereas XSH is at 1.51% with +$996 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
TERM
XSH
| AuM | $976.12 M | $3,154.91 M |
| Management Fees | 0.20% | 0.09% |
| Exp. ratio | 0.22% | 0.10% |
| Tracking Difference | - | -0.13% |
Historical performance and flows
As of October 16, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | TERM | +0.60% | -0.01% | +1.52% | +1.35% | +18.67% |
XSH | +0.62% | +0.02% | +1.51% | +1.66% | +19.33% | |
| Flows | TERM | +$75 M | +$155 M | +$534 M | +$582 M | +$692 M |
XSH | +$184 M | +$516 M | +$996 M | +$1,237 M | +$2,062 M |
TERM vs XSH exposure
Countries
TERM
Canada
89.35%
Other
10.65%
XSH
Canada
88.40%
USA
7.54%
Sectors
TERM
Finance
59.93%
Energy
15.58%
Other
24.49%
XSH
Finance
62.15%
Energy
8.35%
Other
29.50%
As of October 16, 2026
Top 10 Holdings
TERM
Athene Global Funding, 4.091% 23may2030, CAD (2025-15)
2.81%
Royal Bank of Canada, 4.829% 8aug2034, CAD (28)
2.52%
Federation des caisses Desjardins du Quebec, 5.467% 17nov2028, CAD
1.65%
Manulife Financial Corporation, 5.409% 10mar2033, CAD
1.62%
BNP Paribas, 4.487% 3sep2035, CAD (20382)
1.59%
Keyera, 3.702% 15oct2030, CAD (5)
1.53%
Amazon.com, 3.7% 12jun2031, CAD
1.45%
iA Financial Corporation, 5.685% 20jun2033, CAD
1.42%
Toyota Credit Canada, 3.74% 21may2030, CAD (93)
1.35%
Magna International, 4.8% 30may2029, CAD
1.30%
XSH
Royal Bank of Canada, 3.572% 9dec2031, CAD
0.87%
Bank of Nova Scotia, 3.61% 30jan2032, CAD
0.86%
CIBC, 3.65% 13jan2032, CAD
0.80%
Toronto-Dominion Bank, 3.687% 9jan2032, CAD
0.80%
Toronto-Dominion Bank, 3.857% 7apr2032, CAD
0.72%
Bank of Nova Scotia, 3.734% 27jun2031, CAD
0.70%
Amazon.com, 3.7% 12jun2031, CAD
0.66%
Toronto-Dominion Bank, 4.68% 8jan2029, CAD
0.65%
Bank of Montreal, 3.19% 1mar2028, CAD
0.65%
Toronto-Dominion Bank, 3.605% 10sep2031, CAD
0.63%
Diversification
TERM
Total weight of top 10 holdings out of 182 total
17.23%
XSH
Total weight of top 10 holdings out of 651 total
7.33%
Characteristics
Compare
TERM
XSH
| Provider | Manulife Investments | iShares |
| Management | Actively managed | Passively managed |
| Benchmark | - | FTSE Canada Universe + Maple Short Term Corporate Bond TR Index - CAD |
| Replication Method | - | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 3.41% | 3.98% |
| Meets ESG criteria | No | No |
| Inception Date | November 10, 2020 | September 13, 2011 |
Frequently asked questions about TERM and XSH
Which ETF has performed better year to date: TERM or XSH?
As of October 16, 2026, TERM has returned 1.52% year to date, while XSH has returned 1.51%. TERM is ahead on YTD performance.
Which ETF is larger by assets under management: TERM or XSH?
As of October 16, 2026, TERM manages $976.12 M in assets, while XSH manages $3.15 B. XSH is the larger fund by AUM.
How are TERM and XSH managed?
TERM is actively managed by Manulife Investments. It does not track an index. XSH is passively managed by iShares. It tracks the FTSE Canada Universe + Maple Short Term Corporate Bond TR Index - CAD benchmark.
What sectors do TERM and XSH emphasize?
TERM is most exposed to Finance, Energy, and Utilities. XSH is most exposed to Finance, Energy, and Utilities.
Which ETF is attracting more investor flows: TERM or XSH?
Year to date, TERM has seen +$533.80 M in net flows, compared with +$996.09 M for XSH. XSH has attracted more net investor money so far.
How do the fees of TERM and XSH compare?
TERM has an expense ratio of 0.22%, while XSH has an expense ratio of 0.10%.
What are the top holdings of TERM and XSH?
TERM's largest holdings include Athene Global Funding, 4.091% 23may2030, CAD (2025-15), Royal Bank of Canada, 4.829% 8aug2034, CAD (28), and Federation des caisses Desjardins du Quebec, 5.467% 17nov2028, CAD. XSH's top holdings include Royal Bank of Canada, 3.572% 9dec2031, CAD and Bank of Nova Scotia, 3.61% 30jan2032, CAD.
Which ETF is more diversified: TERM or XSH?
TERM holds 182 securities, while XSH holds 641. On holdings count, XSH is the more diversified portfolio.
Recent articles about TERM and XSH
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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.