VS
Compare Vanguard U.S. Aggregate Bond Index ETF (VBU) vs Mackenzie U.S. Aggregate Bond Index ETF (QUB) to find the best fit for your portfolio. VBU and QUB provide the same top sector exposures: Sovereign, Finance, and Industrials. When evaluating costs, VBU features a management fee (MER) of 0.2%, compared to 0.15% for QUB. Performance-wise, VBU has returned 3.85% year-to-date with +$375 M in net flows, whereas QUB is at 4.88% with +$33 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
VBU
QUB
| AuM | $1,864.03 M | $122.85 M |
| Management Fees | 0.20% | 0.15% |
| Exp. ratio | 0.23% | 0.17% |
| Tracking Difference | -0.53% | -0.37% |
Historical performance and flows
As of September 30, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | VBU | -2.24% | -3.60% | -3.85% | -3.72% | +9.99% |
QUB | -3.32% | -4.73% | -4.88% | -4.55% | +6.95% | |
| Flows | VBU | +$24 M | +$82 M | +$375 M | +$539 M | +$1,079 M |
QUB | +$3 M | +$6 M | +$33 M | +$53 M | +$100 M |
VBU vs QUB exposure
Countries
VBU
USA
75.17%
Other
18.96%
QUB
USA
79.23%
Other
12.43%
Other
8.34%
Sectors
VBU
Sovereign
47.53%
Other
18.96%
Finance
10.71%
Industrials
7.30%
Other
15.51%
QUB
Sovereign
47.82%
Finance
19.86%
Other
12.43%
Industrials
7.22%
Other
12.67%
As of September 30, 2026
Top 10 Holdings
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%
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%
Diversification
VBU
Total weight of top 10 holdings out of 15,072 total
4.04%
QUB
Total weight of top 10 holdings out of 552 total
26.89%
Characteristics
Compare
VBU
QUB
| Provider | Vanguard | Mackenzie Investments |
| Management | Passively managed | Passively managed |
| Benchmark | Bloomberg U.S. Aggregate Float Adjusted Bond (CAD Hedged) Total Return Index - CAD | Solactive US Aggregate Bond Index - CAD Hedged |
| Replication Method | Other | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 3.83% | 3.40% |
| Meets ESG criteria | No | No |
| Inception Date | June 30, 2014 | September 24, 2020 |
Frequently asked questions about VBU and QUB
Which ETF has performed better year to date: VBU or QUB?
As of September 30, 2026, VBU has returned -3.85% year to date, while QUB has returned -4.88%. VBU is ahead on YTD performance.
Which ETF is larger by assets under management: VBU or QUB?
As of September 30, 2026, VBU manages $1.86 B in assets, while QUB manages $122.85 M. VBU is the larger fund by AUM.
How are VBU and QUB managed?
VBU is passively managed by Vanguard. It tracks the Bloomberg U.S. Aggregate Float Adjusted Bond (CAD Hedged) Total Return Index - CAD benchmark. QUB is passively managed by Mackenzie Investments. It tracks the Solactive US Aggregate Bond Index - CAD Hedged benchmark.
What sectors do VBU and QUB emphasize?
VBU is most exposed to Sovereign, Finance, and Industrials. QUB is most exposed to Sovereign, Finance, and Industrials.
Which ETF is attracting more investor flows: VBU or QUB?
Year to date, VBU has seen +$374.67 M in net flows, compared with +$33.20 M for QUB. VBU has attracted more net investor money so far.
How do the fees of VBU and QUB compare?
VBU has an expense ratio of 0.23%, while QUB has an expense ratio of 0.17%.
What are the top holdings of VBU and QUB?
VBU's largest holdings include USA, Notes 3.5% 31jan2028, USD (U-2028) and USA, Notes 4.25% 15nov2034, USD (F-2034). QUB's top holdings include USA, Bonds 5.5% 15aug2028, USD and USA, Notes 4% 28feb2030, USD (H-2030).
Which ETF is more diversified: VBU or QUB?
VBU holds 9484 securities, while QUB holds 510. On holdings count, VBU is the more diversified portfolio.
Recent articles about VBU and QUB
The ETF Market Canada is brought to you by Cboe in partnership with Trackinsight SA who is providing all the data, analysis and editorial content on this site. Unless explicitly stated as such, any information that you receive is not real-time.
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.
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.