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Compare iShares J.P. Morgan USD Emerging Markets Bond Index ETF (XEB) vs Mackenzie Emerging Markets Bond Index ETF (QEBH) to find the best fit for your portfolio. XEB and QEBH provide the same top sector exposures: Sovereign, Energy, and Finance. When evaluating costs, XEB features a management fee (MER) of 0.52%, compared to 0.45% for QEBH. Performance-wise, XEB has returned 0.2% year-to-date with +$1 M in net flows, whereas QEBH is at 0.43% with +$69 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
XEB
QEBH
| AuM | $29.93 M | $329.45 M |
| Management Fees | 0.52% | 0.45% |
| Exp. ratio | 0.54% | 0.51% |
| Tracking Difference | -1.59% | -0.24% |
Historical performance and flows
As of August 31, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XEB | +0.36% | -0.97% | -0.20% | +3.74% | +20.85% |
QEBH | +0.50% | -0.75% | -0.43% | +3.63% | +21.12% | |
| Flows | XEB | -$0 M | -$0 M | +$1 M | +$5 M | -$81 M |
QEBH | +$12 M | +$16 M | +$69 M | +$77 M | +$62 M |
XEB vs QEBH exposure
Countries
XEB
Other
100.00%
QEBH
Saudi Arabia
9.53%
Mexico
7.84%
Indonesia
7.75%
Other
74.88%
Sectors
XEB
Sovereign
85.37%
Other
14.63%
QEBH
Sovereign
74.62%
Energy
9.64%
Other
15.74%
As of August 31, 2026
Top 10 Holdings
XEB
BlackRock Cash Funds - Treasury
1.35%
Argentina, 4.125% 9jul2035, USD
1.19%
Ecuador, 6.9% 31jul2035, USD
0.80%
Argentina, 5% 9jan2038, USD
0.69%
Argentina, 0.75% 9jul2030, USD
0.64%
Argentina, 3.5% 9jul2041, USD
0.57%
Ghana, 5% 3jul2035, USD
0.54%
Uruguay, 5.1% 18jun2050, USD
0.51%
Mexico, 5.5% 17aug2030, USD
0.51%
Ukraine, 4% 1feb2032, USD
0.42%
QEBH
Pemex, 6.7% 16feb2032, USD (C)
1.39%
Argentina, 4.125% 9jul2035, USD
1.30%
Argentina, Bonos 4.125% 9jul2035, USD
1.19%
Argentina, 5% 9jan2038, USD
1.16%
Qatar, 5.103% 23apr2048, USD
1.11%
Ecuador, 6.9% 31jul2035, USD
1.03%
Indonesia, 4.75% 11feb2029, USD
1.01%
Indonesia, 3.55% 31mar2032, USD
0.95%
KEXIM, 1.125% 29dec2026, USD
0.90%
Turkey, 6.125% 24oct2028, USD
0.84%
Diversification
XEB
Total weight of top 10 holdings out of 614 total
7.23%
QEBH
Total weight of top 10 holdings out of 371 total
10.89%
Characteristics
Compare
XEB
QEBH
| Provider | iShares | Mackenzie Investments |
| Management | Passively managed | Passively managed |
| Benchmark | J.P. Morgan EMBI Global Core - Hedged in CAD Total Return Index - CAD | Solactive EM USD Govt & Govt Related Bond Select NTR Index - CAD Hedged |
| Replication Method | Direct (Physical) | |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 5.01% | 4.87% |
| Meets ESG criteria | No | No |
| Inception Date | April 12, 2011 | July 25, 2019 |
Frequently asked questions about XEB and QEBH
Which ETF has performed better year to date: XEB or QEBH?
As of August 31, 2026, XEB has returned -0.20% year to date, while QEBH has returned -0.43%. XEB is ahead on YTD performance.
Which ETF is larger by assets under management: XEB or QEBH?
As of August 31, 2026, XEB manages $29.93 M in assets, while QEBH manages $329.45 M. QEBH is the larger fund by AUM.
How are XEB and QEBH managed?
XEB is passively managed by iShares. It tracks the J.P. Morgan EMBI Global Core - Hedged in CAD Total Return Index - CAD benchmark. QEBH is passively managed by Mackenzie Investments. It tracks the Solactive EM USD Govt & Govt Related Bond Select NTR Index - CAD Hedged benchmark.
What sectors do XEB and QEBH emphasize?
XEB is most exposed to Sovereign, Energy, and Finance. QEBH is most exposed to Sovereign, Energy, and Finance.
Which ETF is attracting more investor flows: XEB or QEBH?
Year to date, XEB has seen +$1.38 M in net flows, compared with +$68.70 M for QEBH. QEBH has attracted more net investor money so far.
How do the fees of XEB and QEBH compare?
XEB has an expense ratio of 0.54%, while QEBH has an expense ratio of 0.51%.
What are the top holdings of XEB and QEBH?
XEB's largest holdings include BlackRock Cash Funds - Treasury, Argentina, 4.125% 9jul2035, USD, and Ecuador, 6.9% 31jul2035, USD. QEBH's top holdings include Pemex, 6.7% 16feb2032, USD (C), Argentina, 4.125% 9jul2035, USD, and Argentina, Bonos 4.125% 9jul2035, USD.
Which ETF is more diversified: XEB or QEBH?
XEB holds 612 securities, while QEBH holds 370. On holdings count, XEB is the more diversified portfolio.
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