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iShares U.S. IG Corporate Bond Index ETF (XCBU) and Mackenzie US High Yield Bond Index ETF (QHY) offer distinct profiles for Canadian ETF investors. A direct comparison shows that XCBU focuses its top 3 sector exposures on Finance, Technology, and Healthcare, while QHY leans towards Finance, Consumer Services, and Industrials. When evaluating costs, XCBU features a management fee (MER) of 0.3%, compared to 0.4% for QHY. Performance-wise, XCBU has returned 0.78% year-to-date with +$0 M in net flows, whereas QHY is at 0.77% with +$109 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
XCBU
QHY
| AuM | $5.05 M | $247.41 M |
| Management Fees | 0.30% | 0.40% |
| Exp. ratio | 0.31% | 0.47% |
| Tracking Difference | - | -0.26% |
Historical performance and flows
As of September 1, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XCBU | -2.39% | -2.04% | -0.78% | +1.04% | +16.42% |
QHY | -0.48% | -0.16% | +0.77% | +2.36% | +20.40% | |
| Flows | XCBU | +$0 M | +$1 M | +$0 M | +$0 M | +$4 M |
QHY | +$3 M | +$82 M | +$109 M | +$191 M | +$213 M |
XCBU vs QHY exposure
Countries
XCBU
USA
86.88%
Other
13.12%
QHY
USA
86.96%
Other
13.04%
Sectors
XCBU
Finance
33.29%
Technology
13.79%
Healthcare
9.96%
Energy
8.23%
Telecommunications
8.08%
Other
26.66%
QHY
Finance
17.22%
Consumer Services
13.62%
Industrials
11.32%
Non-Energy Materials
9.08%
Energy
7.77%
Technology
7.33%
Other
33.66%
As of September 1, 2026
Top 10 Holdings
XCBU
BlackRock Cash Funds - Treasury
0.80%
Anheuser-Busch, 4.9% 1feb2046, USD
0.20%
CVS Health, 5.05% 25mar2048, USD
0.17%
T-Mobile USA, 3.875% 15apr2030, USD
0.16%
Goldman Sachs, 6.75% 1oct2037, USD
0.15%
Meta Platforms, 4.875% 15nov2035, USD
0.15%
Amazon.com, 4.875% 13mar2036, USD
0.15%
Meta Platforms, 6.3% 15may2056, USD
0.14%
Space Exploration Technologies, 5.875% 15jul2036, USD
0.14%
Pfizer, 4.75% 19may2033, USD
0.14%
QHY
Hub International, 7.25% 15jun2030, USD
0.74%
Centene, 2.5% 1mar2031, USD
0.74%
TransDigm, 6.625% 1mar2032, USD
0.62%
Mozart Debt Merger Sub, 5.25% 1oct2029, USD
0.61%
Hilton Domestic Operating, 4.875% 15jan2030, USD
0.61%
Noble Finance II, 8% 15apr2030, USD
0.60%
1261229 B.C., 10% 15apr2032, USD
0.56%
Cloud Software Group, 6.5% 31mar2029, USD
0.55%
Centene, 4.625% 15dec2029, USD
0.55%
Aramark Services, 5% 1feb2028, USD
0.53%
Diversification
XCBU
Total weight of top 10 holdings out of 3,147 total
2.20%
QHY
Total weight of top 10 holdings out of 1,112 total
6.09%
Characteristics
Compare
XCBU
QHY
| Provider | iShares | Mackenzie Investments |
| Management | Passively managed | Passively managed |
| Benchmark | Markit iBoxx USD Liquid Investment Grade Index - USD | Solactive USD High Yield Corporates Total Market Hedged to CAD TR Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 3.98% | 6.18% |
| Meets ESG criteria | No | No |
| Inception Date | July 6, 2021 | January 24, 2018 |
Frequently asked questions about XCBU and QHY
Which ETF has performed better year to date: XCBU or QHY?
As of September 1, 2026, XCBU has returned -0.78% year to date, while QHY has returned 0.77%. QHY is ahead on YTD performance.
Which ETF is larger by assets under management: XCBU or QHY?
As of September 1, 2026, XCBU manages $5.05 M in assets, while QHY manages $247.41 M. QHY is the larger fund by AUM.
How are XCBU and QHY managed?
XCBU is passively managed by iShares. It tracks the Markit iBoxx USD Liquid Investment Grade Index - USD benchmark. QHY is passively managed by Mackenzie Investments. It tracks the Solactive USD High Yield Corporates Total Market Hedged to CAD TR Index - CAD benchmark.
What sectors do XCBU and QHY emphasize?
XCBU is most exposed to Finance, Technology, and Healthcare. QHY is most exposed to Finance, Consumer Services, and Industrials.
Which ETF is attracting more investor flows: XCBU or QHY?
Year to date, XCBU has seen +$0.02 M in net flows, compared with +$108.78 M for QHY. QHY has attracted more net investor money so far.
How do the fees of XCBU and QHY compare?
XCBU has an expense ratio of 0.31%, while QHY has an expense ratio of 0.47%.
What are the top holdings of XCBU and QHY?
XCBU's largest holdings include BlackRock Cash Funds - Treasury, Anheuser-Busch, 4.9% 1feb2046, USD, and CVS Health, 5.05% 25mar2048, USD. QHY's top holdings include Hub International, 7.25% 15jun2030, USD, Centene, 2.5% 1mar2031, USD, and TransDigm, 6.625% 1mar2032, USD.
Which ETF is more diversified: XCBU or QHY?
XCBU holds 3146 securities, while QHY holds 1099. On holdings count, XCBU is the more diversified portfolio.
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